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87- 102293 REAL PROPERTY MORTGAGE H. Eugene Bishop and Elaine J. Bishop, husband and wife, herein called the mortgagor whether one or more, in consideration of TWENTY -THREE THOUSAND DOLLARS AND N01100 ($23,000.00) paid does mortgage to Andrew L. Horn and Felicia H. Horn, husband and wife of Grand Island, Nebraska, mortgagee: A tract of land comprising a part of the Southwest Quarter of the Southeast Quarter (SWSSE}) of Section Three (3), Township Twelve (12) North, Range Nine (9) West of the 6th P.M. in Hall County, Nebraska, more particularly described as follows: Beginning at a point on the South line of said Section Three (3), said point being Four Hundred and Eighteen (418.0) feet East of the Southwest corner of said Southeast Quarter (SE}); thence Easterly along the South line of said Southeast Quarter (SE14), a distance of Three Hundred and Twenty -Two (322.0) feet; thence deflecting left 890 35' and running Northerly, a distance of Three Hundred and Twenty -Eight (328.0) feet; thence Westerly parallel to said South line of said Section Three (3), a distance of Three Hundred and Twenty -Two (322.0) feet; thence deflecting left 890 35' and running Southerly, a distance of Three Hundred and Twenty -Eight (328.0) feet to the place of beginning and containing 2.425 acres, more or less, of which 0.244 acres, more or less, are presently occupied by county road right -of- way. And the mortgagor does hereby convenant with the mortgagee and with mortgagee's heirs and assigns that mortgagor is lawfully seised of said premises, that they are free from encumbrance, that mortgagor has good right and lawful authority to convey the same, and that mortgagor warrants and will defend the title to said premises against the lawful claims of all persons whomsoever. This mortgage is given to secure the payment of the promissory note of this date made by mortgagor for Twenty -Three Thousand Dollars ($23,000.00) payable in installments with the final installment due March 1, 1992. Mortgagor shall pay all taxes and assessments levied upon said real property and all other taxes levied on this mortgage or the note which this mortgage is given to secure before the same become delinquent and shall maintain fire, windstorm and extended coverage insurance with a mortgage clause on the buildings on said premises in the sum of $23,000.00. If mortgagor fails to pay such taxes and assessments or procure such insurance, mortgagee may pay such taxes and purchase such insurance and the amount so advanced with interest at nine percent per annum shall be secured by this mortgage. In case of default in the payment of the principal sum or any installment thereof or of any interest thereon when the same shall become due or in case of the non- payment of any taxes or assessments or of the failure to maintain insurance as herein provided, mortgagee may at the option of mortgagee, without notice, at any time during the continuance of such default or breach, declare the whole debt secured by this mortgage to be immediately due and payable and may foreclose this mortgage. In the event of default in the performance of any of the terms and conditions of this mortgage or the note secured by it, the mortgagee shall be entitled to immediate possession of the t j..