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MOnTOAQU 87- i This Mortgage is entered into between ___ ____( Mortgagor - herein)-- and�The -atate jaak gf Cairo. A Ne}�xas�g Banking Corro ate. (Mortgagee herein) Mort g, or is indebted to Mortgagee in the principal sum of __$15,00D. 0 evidenced by Mortgagors' note dated _ APRIL_la______ 1987 (herein note) providing for payments of principal and interest, with the balance of the indebtedness, if not sooner paid, due and payable on _ APRJL_ 14_______1992 - __, , To secure the payment of the Note, with interest as provided therein, the payment of all other sums with interest, advanced by Mortgagee to protect the security of this Mortgage, and the performance of the covenants and agreements of the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following Property located in H�tjl County Nebraska: The West Half of the Southeast Quarter (WViSE'Q) of Section 31, Township 11 North, Range 11, 'lest of the 6th P..1., Hall County, 'Jebraska Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, all of which, including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the "Property ". Mortgagor further covenants and agrees with Mortgagee as follows: 1. Payment. To pay the indebtedness and the interest thereon as provided in this Mortgage and the Note. 2. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and warrants that the lien created hereby is a first and prior lien on the Property, except as hereafter provided: 3. To pay when due all taxes, special assessments, and all other charges against the Property and, upon written demand by Mortgagee, to add to the payment required under the Note secured hereby, such amount as may be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become dub. 4. In the event the Property, or any part thereof, shall be taken by eminent domain, the Mortgagee is empowered to collect and receive all compensation which may be paid for any Property taken or for damages to Property not taken, and Mortgagee shall apply such compensation, at its option, either to a reduction of the indebtedness secured hereby or to repair and restore the Property so damaged.