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WOOND NRAL ROTATE MORTQAG9�Wlth Tax Clause Th. Huffman aaneral au{rely 1194-0, t,lasaan, NMbr•
<br />ia KNOW ALL BY THESE >�R E: 87-1006001
<br />TH4TIorWE, Barry J. Farnham and Sally L. Farnham, husband and wife
<br />of Douglas County and State of Nebraska , in consideration of Ae suet of
<br />one ($1. 00) --------------------- ------------------------ - - - - -- DOLLARS
<br />in hand paid, do hereby .SELL and CONVEY unto Bank of Wood :River
<br />, (mortgagee),
<br />Pareal 2: The South Half of the Southeast Quarter (S 1/2 SE 1/4) of Section One (1),
<br />Township Ten (10), North, Range Twelve (12) West of the 6th P.M., except for certain
<br />tracts conveyed by Warranty Deed recorded in Book 163, Page 663, in Book 78, Page 311,
<br />In Book 78, Page 269, in Book 100, Page 409 and by condemnation recorded in Book 3,
<br />Page 341.
<br />AND
<br />ting a tract described as follows: Commencing at the Southeast corner of said SE
<br />1/4, running thence along and upon the East line of said Quarter Section a distance of
<br />feet, thence proceeding West along and upon a line parallel to the North line of the
<br />SE 1/4 a distance of 240 feet, thence proceeding South along and upon a line parallel to
<br />Raot line of the SE 1/4 a distance of 360 feet, thence proceeding East along and upon
<br />the South line of the SE 1/4 a distance of 240 feet to the place of beginning.
<br />This 2nd Mortgage is junior to a 1st Deed of Trust which secures a
<br />Promissory note of $105,000 in favor of Equitable Life Assurance
<br />Society of the United States
<br />The intension being to convey hereby an absolute title in fee simple including all the rights of homestead and dower.
<br />TO HAVE AND TO HOLD the premises above described, with all the appurtenances thereunto belonging unto
<br />Me said mortgagee or mortgagees and to his, her or their heirs and assigns, forever, provided always, and these pres-
<br />ents are upon the express condition that if the said mortgagor or mortgagors, his, her or their heirs, executors, admin-
<br />istrators or assigns shall pay or cause to be paid to the said mortgagee or mortgagees and to his, her or their heirs, ex-
<br />ecutors, administrators or assigns, the sum of
<br />Fifty Thousand and no /100 ($50 ,000) ------------------ 4)ollart, payable as follows, to -wit:
<br />As per terms and conditions of a Promissory Note of October 1, 1987 from
<br />Harry J. Farnham, Trustee, to said Bank of Wood River, secured by a 1st De
<br />of Trust on other property; and this 2nd Mortgage being given as additions
<br />security for said note.
<br />Me, and shall pay all taxes and any interest on, or maturing installments of principal, due on any prior mortgage and
<br />assessments levied upon said real estate and all other taxes, levies and assessments levied upon this mortgage or the
<br />note which this mortgage is given to secure, before the same becomes delinquent and keep the buildings on said
<br />premises insured for the sum $ 25, 000, loss, if any, payable to such first mortgagees or this mortgagee, or both,
<br />Men Most presents be void, otherwise to be and remain in full force.
<br />IT IS FURTHER AGREED (s) That if the said mortgagor shall fail to pay such taxes and such interest on,
<br />or maturing, installments of principal, due on any prior mortgage and procure such insurance, then this mortgagee may
<br />mmwlh! wng inof principal, due on saarh prior rraortgoge and procure
<br />qKF�t-b�ya odsh interest at nine per cent shall be paid by said mortgagor, and this mort- (t) That a failure to pay any of said money, either principal or interest on
<br />jomes due or a allure to com 1 with an a the ors oin a reements,
<br />f' py y f t g g g sum in :sewed to become due and collectable at once at the option of the mort-
<br />IT IS FURTHER AGREED That said mortgagee, pending foreclosure of this mortgage and after decree and stay thereon or appeal therefrom and pending sale of premises mortgaged, may pay such taxes and maturing
<br />et or maturing instatlments of principal, on prior mortgages, procure such iruuronce and such sums shall be
<br />added to the amount due on decree acrd upon confirmation of solr by the court ordered taken out of proceeds of sale;
<br />or q redeemed during stay, appeal or sale, such amounts shag be collected the sarne as though it were a part of such
<br />Signed this 2nd day of October , rg 87
<br />In Presence of
<br />iry J €a'rnha(n
<br />"-6 al'Wt. `Farnham
<br />
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