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1 REAL, ESTATE MORTGAGE ROBERT H. WADE and CONNIE L. WADE, husband and wife, each in his and her own right, herein called the Mortgagors, in consideration of SEVEN THOUSAND FOUR HUNDRED AND N01100 DOLLARS ($7,400.00) do hereby mortgage to FIRST PRESBYTERIAN CHURCH, GRAND ISLAND, NEBRASKA, herein called the Mortgagee, the following - described real estate in Hall County, and State of Nebraska: Lot One (1), in Block Three (3) of Elm Place Addition to the City of Grand Island, Hall County, Nebraska, and its complement: A triangular piece of ground in the Southwest corner of Lot Twelve (12) in the County Subdivision of the Southeast Quarter of the Southwest Quarter (SE }SW}) of Section Sixteen (16), in Township Eleven (11) North, Range Nine (9) West of the 6th P.M., described as follows, to -wit: Commencing at the iron pin in the Southwest corner of said Lot Twelve (12), thence running North along the West side of the said Lot, sixteen and seven- tenths feet (16.71), thence South on a line parallel with the West line of Block Three (3) in Elm Place Addition to the City of Grand Island, nineteen and two - tenths feet (19.21) to the South side of said Lot Twelve (12); thence West nine and five - tenths feet (9.51) along said South line to the place of beginning, being a right angle triangle with a base of nineteen and two - tenths feet (19.2'). This Mortgage is given to secure the payment of the principal sum of Seven Thousand Four Hundred and No /100 Dollars ( ;7,400.00) according to the terms of a certain Promissory Note of even date executed by the Mortgagors to the Mortgagee with a maturity date being the first to occur of (a) the sale by the Makers of the real estate described hereinabove, or (b) the second anniversary of the execution of the afore - referenced Promissory Note. The terms and conditions of the afore - referenced Promissory Note are incorporated herein and made a part hereof by this reference. The Mortgagors further agree to maintain insurance upon the above - described premises in an amount not less than the indebted- ness due the Mortgagee with a loss- payable clause in favor of Mortgagee as its interest may appear. The Mortgagors agree to pay all taxes and assessments upon said premises and all other taxes, levies and assessments levied upon this Mortgage and the Note which this Mortgage is given to secure before the same become delinquent. In the event the Mortgagors shall fail to obtain such insurance or pay such taxes before delinquent, the Mortgagee may purchase such insurance and pay such taxes or other liens and shall have a lien secured hereby for the amount so advanced with interest thereon at the maximum legal rate. In the event the Mortgagors default in the payment of said indebtedness or any installment thereof, or fail to perform any of the other agreements herein, the Mortgagee at its election may declare the entire debt secured by this Mortgage to be due and collectible at once and may foreclose this Mortgage for the satisfaction thereof. Signed this '� 2_�kday of August, 1987. (0 C.-' Robert H. Wa e Conni6 T. V Wa e CiL•