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87- 102434 REAL. PROPERTY MORTGAGE Grand Island Baptist Temple, Inc., A Nebraska Non -- Profit Corporation, herein called the "Mortgagor" whether one or more, in consideration of the advance of the principal sum recited in the note hereinafter described and in consideration of any future !, advances made by Mortgagee to Mortgagor as hereinafter provided, hereby mortgages and conveys to Church Buildings Committee, Baptist Mission of North America, an Ohio Not- For - Profit Corporation, Box 4559 Elyria, Ohio 44036, herein called the "Mortgagee ", the following described real estate together with all the right, title and interest of the Mortgagor therein or hereafter acquired including all buildings and improvements now on or hereafter placed on such real estate: A TRACT OF LAND COMPRISING A PART OF THE WEST HALF OF THE NORTHEAST QUARTER (W1 /2 NE1 /4) OF SECTION ELEVEN (11)9 TOWNSHIP ELEVEN (11) NORTH, RANGE TEN (10) WEST OF THE 6TH P.M., IN HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF LOT TEN (10) SUNSET SEVENTH SUBDIVISION, ALSO BEING A POINT ON THE WESTERLY LINE OF MACRON STREET; THENCE WESTERLY ALONG THE SOUTH LINE OF SAID SUNSET SEVENTH SUBDIVISION A DISTANCE OF FOUR HUNDRED FIFTY (450.0) FEET; THENCE SOUTHERLY PARALLEL TO THE WESTERLY LINE OF SAID MACRON STREET, A DISTANCE OF FOUR HUNDRED EIGHTY -FOUR (484.0) FEET; THENCE EASTERLY PARALLEL TO THE SOUTH LINE OF SAID SUNSET SEVENTH SUBDIVISION, A DISTANCE OF FOUR HUNDRED FIFTY (450.0) FEET, TO THE WESTERLY LINE OF SAID MACRON STREET; THENCE NORTHERLY ALONG THE WESTERLY LINE OF SAID MACRON STREET, A DISTANCE OF FOUR HUNDRED EIGHTY -FOUR (484.0) FEET TO THE PLACE OF BEGINNING AND CONTAINING 5.000 ACRES MORE OR LESS. This mortgage is given to secure: A. Promissory note dated _ APR:.- 214 by Mortgagor to Mortgagee in the + 1987, given principal sum of $101,430 Payable with interest according to the terms of such note and any instrument taken in connection with refinancing, extending or renewing the indebtedness evidenced by such note or any part thereof; B. Any future advance(s), with interest, which may be made from time to time by Mortgagee at its option in any amount(s), provided, however, such future advances shall be so limited that the total principal amounts outstanding at any one time shall not exceed the sum of 4125,000 dollars, to be repaid in accordance with the terms of a promissory note(s) evidencing any such advance(s). Any such advance(s) shall be additional to any advance(s) hereinafter authorized tO be made by Mortgagee for the protection of the security or Mortgagee's interest therein. Mortgagor hereby covenants with Mortgagee and its successors and assigns that Mortgagor is lawfully seised of such real estate and is the fee owner thereof, that Mortgagor has good right and lawful authority to convey the same, that Mortgagor hereby relinquishes all rights of homestead therein, and that Mortgagor warrants and will defend the title to such real estate against the lawful claims of all persons whomsoever. Additionally, Mortgagor covenants and agrees with Mortgagee as follows: of or I. Mortgagor shall pay all taxes and assessments in respect levied upon such real estate before the same become delinquent and shall pay when due any lien or judgment on such real estate. 2. Mortgagor shall procure and maintain fire, windstorm and extended coverage insurance on all buildings or other i