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<br />REAL PROPERTY MORTGAGE
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<br />_,___~utlman and Felto,!-~Wolf, W~lton, Ne, 68461
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<br />Open-end, to secure present and future obligations and advances
<br />I:bnna DeF:r:eece, Guardian and Conservator of the Estate of Eldon P. CUnningham, a
<br />Pmtect:ed Person, and
<br />I:bnna J. DeF:reece and James I. DeFreeoe, w'.de am husband,
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<br />herein called the "Mortgagor" whether one or more, in consideration of the advance of the principal sum recited in the
<br />note hereinafter described and in consideration of any future advances made by Mortgagee to Mortgagor as
<br />hereiriafter provided, hereby mortgages and conveys to
<br />FarIne1iS Bank of OXIk, Q:lok, Nebraska
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<br />'!he South 35 Feet of IDt 'lbree
<br />all of IDt Five (5), Blodc Nineteen
<br />O:nmty, Nebraska.
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<br />(3) and the North 32 Feet of IDt Seven (7) am
<br />(19), Scarff Addition to Grand Island, Hall
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<br />herein called the "Mortgagee", the following described reul estate together with all the right, title and interest
<br />of the Mortgagor therein or hereafter acquired includ i"ll' all bu i1dings and improvements now on or hereafter placed
<br />on such real estate:
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<br />This mortgage is given to secure:
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<br />A, profBiBBOry note dated _ July _~~_ 19BB_,__-.-_ l.o1ven hy M"rlKultor to Mortj(agee in the principal SUID of
<br />$ 10,000.0 payable with interest uecordinlt to the t"nn.. of "ueh note and rmy instrument tuken in connection with
<br />refmancing, extending or renewing th.. indehtedn"ss ,'\'idl'n('.~1 hy sueh notl' or uny part the""lf;
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<br />B, Any future advance(s}. with interest. which may be lIIade from time to time by Mortgagee at its option in any
<br />amount(s), provided, however, such future Mdvances s8811 be so limited that the total principal amounts outStanding
<br />at any onetime shall not exct'<.>d the sum oR,20,OOO. dollar.., to be repaid in acrordancewith thetennsofa
<br />promissory note(s) evidencing any such ndvanc~8), Any such advnnce(..) shall be additional to any advance(s)
<br />hereinafter authorized to be made by Mortgagee for the protection of the security or Mortgagee's interest therein,
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<br />Mortgagor hereby covenants with Mortgagee and its successors and assigns that Morgagor is lawfully seised of
<br />such real estate and is the fee owner thereof, that Morlgngor hIlS good right and lawful authority 1.0 convey the same,
<br />that Mortgagor hereby relinquishes nil rights of homClllend therein, and that Mortgagor warrnnts and will defend the
<br />title 1.0 such real estate against the luwful dniml< of all persons whomsoever, Additionally, Mortgagorcovenantsand
<br />agrees with Mortgagee as follows:
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<br />1. Mortgagor shall pay ull taxl!llllnd lIBSeBBments in respect of or levied upon such real estate before the same
<br />hecome deliquent and shull PIlY when due an,\! lien or judgment on such real estate,
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<br />2, Mortgagor shall procure and maintain fire, windstorm and extended coverage insurance on all buildings or
<br />other improvements now on or Iwreafter placed upon such real estate in on amount satisfactory to Mortgagee, such
<br />insurance to have a mortgage dause. loss thereunder to be payable to Mortgagee as its interest may appear,
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<br />3. Mortgagor shall not commit nor pennit any wru;l.e on such real estate. shall keep all buildings and
<br />improvements in good repair and shall not impair or permit the impairment of Mortgagee's security in any way,
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<br />4. Mortgagor hereby aBBigns to MortJ<[agee all rents in l'onnection with ,mch real estalA>,
<br />In the event Mortgagor fails to pay such taxes "!ld aHsessments or foils to procure such insurance or fails to
<br />cause the removal of any lien on such real estate. Mortgagee may at its option pay such taxes and a!l!le98ments or
<br />procure such imlurance or pay an amount necessary 1.0 satisfy such lien, and all runounts advanced therefore shall
<br />become a part of the indebtedness secured hereby. shall be due and payable immediately and shall bear interest at the
<br />maximum rate allowed by the laws of the StalA> of Nebraska at the time of such advancement.
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<br />III the event Mortll<lgor defaults (II) in the payment when due "f such principlll Hum or IIn.\! installmenl thereof or
<br />any interest thereon, (h) in the repayment when due of any lIdvances made liB provided lll'rein orany interest thereon. or
<br />leI with respect to any covenant or eondition "nntained in this mortK,,!:e. Mortli(lIKI'e may, at its nlltion without notice
<br />ondat any time durinll the <'tllltinullnce of slIch defllult, d"dare thl' entin' indehtl'dness "ecured hy this l11orlllllll" to be
<br />immediaw]y due and payahle with interest lit the maximum rute lIwn lllluw"d by Nebraskal"", IIl1d IIII1Y immediately
<br />(ort.'t<llIse this mo'l'llllllle or IlUrSUl' any other a\'ailable 1"lIul remedy, 111 thl' "ve" t of all)' uetioll b:: Mortllallee III "nfort....
<br />collt.-ction or indehtedn(~RR sl'cun.d h(1rcby, MortguJ,Cor UJ,Z'TN!l'I lhat any l~XJ.WJH;P ineufTPd in conlwelton tht'n'wllh
<br />indudinR (~08l.;1, and h.~lRnnnhJ[' uUornpy f{.t'a .LIhnJJ hf'('tlnlf' It part of LIllO Indtlht..dn('~!:-l NPnlrl'd hv thitl murtll(l~t.,
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<br />In the ('Vent of uny default !let fnrth in the foref,loinll l'aTllltrlll'h, MurtIlUltl>" shall I", L'nl,jUI'd tLl nnmedlnle
<br />po8JIelllllon of such real (",lute and 1111 lh" rlmt.., reVI'nUl' und meum.' dl'r1\'l'.1 111I'n'("'''11 dllrlnll ""1'1> 11mI' II_ till'
<br />indebu.Jne811 "",'Un..1 hell'hy r",,,ains unpaid "hllll h"uPI'IIl"! h~' llll' M"rlllllli('" (" till' j1aVltll'lIt ,,' NII,.h lIHlL'''",,, "l'''"
<br />indudinll amnunts d"ellll.lln I", a I'llrt IJH'I1.~,f liS spt fllrlh h"n',"ah"""
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