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REAL ESTATE_ MORTGAGE
<br />101491
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That RICHARD E. STEPHENS, JR. and BARBARA G. STEPHENS, his
<br />spouse, each in his and her own right, residing in Hall County,
<br />State of Nebraska, hereinafter referred to as "Mortgagor ", in
<br />consideration of all Mortgagor's indebtedness, liabilities and
<br />obligations to FRANK E. GALLUP, of Mall County, State of Nebraska,
<br />hereinafter referred to as "Mortgagee ", now existing or hereafter
<br />incurred, and other valuable consideration in hand paid, do
<br />hereby mortgage unto the Mortgagee the following - described real
<br />estate situated in Hall County, State of Nebraska, to -wit:
<br />Lot One (1), in Block One (1), in "Farmington
<br />Second Subdivision ", of a part of the
<br />Southeast Quarter of the Southwest Quarter
<br />(SE }SW}) of Section Twenty -One (21), in
<br />Township Eleven (11) North, Range Nine (9),
<br />West of the 6th P.M., Hall County, Nebraska.
<br />This Mortgage is given to secure the payment of the principal
<br />sum of Three Hundred Ninetv Thousand Four Hundred Thirty -Seven
<br />and 12/100 Dollars ($390,437.12), plus accrued interest of
<br />Seventy -One Thousand Four Hundred Ninety -Four and 32/100 Dollars
<br />($71,494.32) to December 31, 1985, for a total amount of Four
<br />Hundred Sixty -One Thousand Nine Hundred Thirty -One and 44/100
<br />Dollars ($461,931.44), represented by the following Promissory
<br />Notes, plus interest from December 31, 1985, thereon according to
<br />the terms of said notes and any and all extensions, renewals,
<br />modifications or substitutions thereof:
<br />(1) Promissory Note, dated November 22,
<br />1983, in the principal sum of Two
<br />Hundred Forty -Seven Thousand Five
<br />Hundred and No /100 Dollars ($247,500.00);
<br />(2) Promissory Note, dated October 29, 1984,
<br />in the principal sum of Seventy Thousand
<br />and No /100 Dollars ($70,000.00);
<br />(3) Promissory Note, dated December 26,
<br />1984, in the principal sum of Thirty -Five
<br />Thousand and No /100 Dollars
<br />($35,000.00); and
<br />(4) Promissory Note, dated December 31,
<br />1985, in the principal sum of Seventy -Two
<br />Thousand Five Hundred Eighty -Seven and
<br />12/100 Dollars ($72,587.12).
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