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87- 101452
<br />NEBRASKA MORTGAGE
<br />This MORTGAGE made this k_ day of February, 1987,
<br />between PRAIRIE DATSEN, INC., now nown as CARPENTER CARS, INC
<br />( "Mortgagor ") and Larry K. Allingham and Dorothy A. Allingham
<br />( "Mortgagee ").
<br />TO SECURE the payments hereinafter set forth,
<br />Mortgagor does hereby mortgage to Mortgagees, the following -
<br />described real estate in Hall County, Nebraska:
<br />Lots One (1), Two (2), and Three (3),
<br />Commonwealth Business Park Fourth
<br />Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska.
<br />THIS MORTGAGE IS GIVEN TO SECURE the payment of sums
<br />set forth in the Settlement Agreement made and entered into by
<br />and between Larry K. Allingham and Dorothy A. Allingham, and Rex
<br />E. Carpenter and Carpenter Cars, Inc., said Agreement being
<br />dated December 1, 1986. Payments are to be made as follows: The
<br />sum of $25,000.00 in cash on or before December 7, 1986, payment
<br />of which has been made, and the sum of $2,000.00 per month
<br />the ist
<br />commencin
<br />of each montha ra
<br />the eafte for ag continuing
<br />period of 84 months.
<br />THIS MORTGAGE is made subject and subordinate to a prior
<br />mortgage on the premises made by mortgagor to KENNETH B. KNOX
<br />and KNOX CONSTRUCTION CO., INC., dated September 4, 1985, given
<br />to secure the payment of the debt described in such mortgage,
<br />and recorded in the office of the Register of Deeds, Hall
<br />County, Nebraska, as Document No. 85- 004488.
<br />THIS MORTGAGE is further made subject and subordinate to
<br />two prior mortgages on All of Lot 12, Commonwealth Business
<br />Park, 3rd Subdivision, Grand Island, Hall County, Nebraska, as
<br />identified on identified as Nos. 805 attached 004107 a d 80- 004173, said Lot
<br />one and the same property as Lots 1, 2, and 3, Commonwealth
<br />Business Park Fourth Subdivision in the City of Grand Island,
<br />Hall County, Nebraska. The first of said mortgages is dated
<br />August 6, 1980, and is recorded in the office of the Register of
<br />Deeds, Hall County, Nebraska, as Document No. 80- 004107. The
<br />second of such mortgages is dated August 6, 1980, and is
<br />recorded in the Office of the Register of Deeds, Hall County,
<br />Nebraska, as Document No. 30-004173.
<br />MORTGAGOR covenants with Mortgagee and its successors in
<br />interest that (i) Mortgagor holds title to the Property in fee
<br />simple and has lawful authority to mortgage the same, (ii) the
<br />Property is free of liens and encumbrances except as stated
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