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t 87- 103693. PURCHASE MONEY REAL ESTATE MORTGAGE Jon D. Strong and Janet K. Strong, husband and wife, MORTGAGORS, in consideration of ONE HUNDRED THOUSAND DOLLARS ($100,000.00), mortgage to William J. Hight and Ruth Ann Boeka, as tenants in common, MORTGAGEES, the following described real estate (as defined in Section 76 -201 of the Revised Statutes of Nebraska, 1943), in Hall County, Nebraska: All of fractional Lots Three (3), Four (4), Five (5); North 88' of Lots Six (6) and Seven (7); North one - half (N 1/2) of Lot Eight (8), plus all rights to vacated alley between Lots Three (3), Four (4), Five (5), Six (6), Seven (7) and Eight (8), in Block Twenty - seven (27), Schimmer's Addition, City of Grand Island, Hall County, Nebraska, as surveyed, platted and recorded. This Mortgage is given to secure the payment of a Purchase Money Promissory Note given by Mortgagors to Mortgagees in the payment of the principal sum of ONE HUNDRED THOUSAND DOLLARS ($100,000.00) and interest from August 1, 1987, at nine per cent (98) per annum, payable in 120 consecutive monthly installments of ONE THOUSAND TWO HUNDRED SIXTY -SIX AND 76/100 DOLLARS ($1,266.76) per month, including principal and interest, payable without demand, commencing on September 1, 1987, and on the first day of each month thereafter for 119 consecutive months until the entire unpaid balance is paid in full, each monthly payment including principal and interest for amortizing the payment of the indebtedness over a period of 120 consecutive months until the entire indebtedness, with interest, is paid in full. The Purchase Money Promissory Note provides that time is of the essence of the Note and if default is made in any monthly installment payment for a period of more than thirty (30) days, the holder of the Note may, without notice or demand, declare the entire principal sum then unpaid, together with accrued interest thereon, immediately due and payable. The Makers of the Note reserve the right to prepay the unpaid balance of the indebtedness on the Note on Any monthly installment payment date by payment of one or more of the monthly installments of principal, but any prepayment of principal on the Note by the Makers shall not relieve the Makers from the payment of the next monthly installment of principal and interest to be made after the prepayment date. Mortgagors agree to pay all real estate taxes and special assessments levied and assessed upon the real estate and to pay all other taxes, levies and assessments levied upon this Mortgage L in 1