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<br />REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />87- 101727
<br />That we, Kristine L }n Barrett 61, a„d John R Blue wife & h„ghand Of Hall
<br />County, Nebraska,
<br />for and in consideration of $ 3,100.00 in hand paid, the receipt
<br />of which is hereby acknowledged, do hereby bargain, sell and convey to Nebraska State Bank
<br />6 Trust Company of Broken Bow, Nebraska, the real estate hereinafter described and situ-
<br />ated in Hall County, Nebraska, to wit:
<br />Lot two Block six, Dale Roush 2nd Subdivision, Grand Island, Nebraska.
<br />together with all further right, title and interest of the Mortgagors in said property now
<br />owned or hereafter acquired, and including all buildings and improvements now on, or here-
<br />after placed upon, said real property; including also all water, irrigation, and drainage
<br />rights.
<br />This Mortgage is given to secure:
<br />a) A Promissory Note dated the 27th day of '.larch 1987 , given by
<br />Krstine Lyn Barrett Blue and John R. Blue to
<br />Nebraska State Bank & Trust Company, in the principal sum of $ 3,100.00
<br />payable with interest according to the terms of said Note and any instruments
<br />taken in refinancing, extending, or renewing said indebtedness or any part there-
<br />of.
<br />This Mortgage is to be void upon the payment in full with interest of all obligations,
<br />present or future, secured or to be secured hereby.
<br />The Mortgagors, and each of them, hereby warrant that they are fee owners of the mort-
<br />gaged real property; that they will defend the title against all claimants whomsoever, and
<br />that said property is free from all encumbrances; and they relinquish all rights of home-
<br />stead and dower in said premises, and covenant and agree with the Mortgagee as follows:
<br />1) To pay when due all taxes, liens, judgments, or assessments which may be lawfully
<br />assessed against the property herein mortgaged, and the rental charges upon any leases
<br />assigned as additional security for this mortgage.
<br />2) To insure and keep insured buildings and other improvements now on or which may
<br />hereafter be placed on said premises for their full replacement value. Any policy evidenc-
<br />ing such insurance shall be endorsed with a mortgage clause, approved by and in favor of
<br />Mortgagee, and deposited with, loss thereunder to be payable to, Mortgagee as its interest
<br />may appear. The Mortgagors shall not cancel or modify said insurance without prior written
<br />notice to the Mortgagee. At the option of the Mortgagors, sums so received by Mortg
<br />may be used to pay for reconstruction of the destroyed improvements; or, if not so :red.
<br />may, at the option of Mortgagee, be applied in payment of any indebtedness, matured or
<br />unmatured, secured by this mortgage.
<br />3) To keep all buildings occupied and in good repair, and to refrain from the comat-
<br />ssion of any acts of removal, demolition or impairment thereof; not to cut or remove, or
<br />permit to be cut or removed, any wood or timber from said real property, and to commit or
<br />permit no waste or impairment of the value of this security; to continuously practice
<br />approved methods of farming on said lands, to prevent erosion and the spread of noxious and
<br />damaging weeds, and to preserve the fertility of the soil.
<br />4) That in the event Mortgagors fail to pay when due any taxes, rental charges upon
<br />any leases assigned as additional security for this mortgage, liens, judgments, or assess -
<br />ments lawfully assessed against the property herein mortgaed. or fail to maintain insur-
<br />ance as hereinbefore provided, Mortgagee may make such payment or provide such insurance,
<br />and the amounts paid therefore shall become a part of the indebtedness secured hereby, due
<br />and payable immediately, and shall bear interest at the Note rate.
<br />5) That in the event Mortgagors default in the payment of said principal sum, or in
<br />the repayment of any additional advances made as herein provided, or of any interest there-
<br />on, at the time when the same shall be due, or with respect to any covenant or condition
<br />hereof, then, at the option of Mortgagee, the entire indebtedness secured hereby shall
<br />forthwith become due and payable, shall bear interest at the default rate provided for in
<br />the applicable notes and the Mortgagee may immediately foreclose this mortgage or pursue
<br />any other available legal remedy. The Mortgagee, in order to accelerate said indebtedness,
<br />shall not be required to make demand or give notice. In the event of any action by Mort-
<br />gagee to enforce collection of this mortgage debt, the Mortgagors agree that any expense
<br />incurred to procure or extend an abstract of title shall, when paid by Mortgagee, become a
<br />part of the debt secured hereby, and shall be paid by Mortgagors together with all of the
<br />taxable costs of such action.
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