|
<br />88-104344
<br />COMBINATION MORTGAGE, SECURITY AGREEMENT
<br />AND FINANCING STATEMENT
<br />$235,000.00
<br />
<br />THIS COMBINATION MORTGAGE, SECURITY AGREEMENT AND FINANCING
<br />STATEMENT, (hereinafter referred to as "Mortgage"), made this ~
<br />day of ..'\\.:)L~ , 1988, by RJN MANAGEMENT CORPORATION, a
<br />Minnesota corporation (hereinafter "Mortgayor") whose post office
<br />address is 822 Marquette Avenue, Suite 206, Minneapolis,
<br />Minnesota 55402 to COMMERCIAL STATE BANK IN ST. PAUL, a Minnesota
<br />banking corporation (hereinafter "Mortgagee"), whose post office
<br />address is 2000 Minnesota World Trade Center, 30 East Seventh
<br />Stre~t, St. Paul, Minnesota 55101.
<br />
<br />~JHEl{EAS, the Mortgagee has ag reed to loan (thl:! "Loan") to
<br />Mortgagor the princi~al ~urn of Two Hundred Thirty-five Thousand
<br />Dollars ($235,OOO.OO), or so much thereof as may oe advanced oy
<br />Mortgagee, as ev idenced by 110rtg agor' s promissory Note (here in
<br />callea the" Notl:!") of even date herewi th payaole to the order of
<br />the Mortgagee all of the terms of which Note are hereby made a
<br />part of this Combination Mortgage, Security Agreement and
<br />Financing Statement (herein called the "Mortgage") to the same
<br />extent and witn the same effect as it it were fully set forth
<br />herein.
<br />
<br />WHEREAS, the execution and delivery of this Mortgage
<br />securing the indebtedness eVidenced oy the principal amount of
<br />the Note and the execution and delivery of other collateral
<br />security is a condition precl:!dent to the making of the Loan by
<br />the Mortgagee;
<br />
<br />NOW, THEREFORE, in consideration ot the premises and for the
<br />purpose of securing (a) the payment when and as due and payable
<br />under the Note, and all interest thereon; and (b) the payment of
<br />all other sums with interest thereon as may be advanced by the
<br />Mortgagee in accordance with this Mortgage; and (c) the
<br />pertormance of all the covenants, conditions and agreements
<br />contained in the Note and this Mortgage, the Mortgagor does
<br />hereby mortgage, grant, oargain, sell, release and convey unto
<br />the Mortgagee, its successors and assigns, forever, all of the
<br />tracts and parcels ot the land (h~reln called the "Land") lying
<br />and bl:!ing in the County ot Hall, State of Nebraska, and described
<br />as follows:
<br />
<br />Lot Eight (8), keplat Grand Island Mall E1ghth SUOd1vislon,
<br />1n the C1ty of Grand Island, Hall County, Nebraska.
<br />
<br />TOGETHER WITH (i) all Improvements now or hereafter erected
<br />on the Land; (ii) all of Mortgagor's interest in and to the
<br />carpl:!tiny, drapes, curtains, furnishings, appliances, furniture,
<br />floor cov~r1ny, ma1ntenance equipment, cleanins equipment,
<br />construct1on materials, fences, dynamos, partitions, lighting,
<br />heating, ventilating, air-condit1oning, air and water cooling
<br />
<br />LJ
<br />
|