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86.__ 102318
<br />MORTGAGE TO SECURE BONDS
<br />This indenture made May 7 , 1986, by and between The
<br />Elks Building Association of Grand Island, a Nebraska
<br />Corporation, hereinafter referred to as the Building Association,
<br />or mortgagor and Grand Island Lodge No. 604 of the Benevolent and
<br />Protective Order of Elks, of Grand Island, Nebraska, hereinafter
<br />referred to as the Trustee.
<br />WHEREAS, the Building Association has contracted certain
<br />debts in building a new lodge in Grand Island, Nebraska, and
<br />WHEREAS, it is necessary that it borrow money for the
<br />purpose of paying such debts, and
<br />WHEREAS, at a meeting of the Board of Directors of the
<br />Building Association, the corporation is authorized to borrow up
<br />to $25,000 and issue its bonds for the amounts so borrowed, and
<br />further mortgage part of its real property to the Trustee for the
<br />purpose of securing payment of the principal. and interest of such
<br />bonds, and
<br />WHEREAS, the form of the bonds and the details of the
<br />transaction have been approved, and the officers of the
<br />corporation have been duly authorized to execute this mortgage in
<br />the name of the corporation, and
<br />THEREFORE, to secure the payment of the principal and
<br />interest of such bonds as may at any time be issued and
<br />outstanding under this indenture, according to their tenor and
<br />effect, and to declare the terms and conditions upon which such
<br />bonds are to be so issued, the Building Association, in
<br />consideration of the pirchase and acceptance of such bonds by the
<br />holders thereof, has executed and delivered, and does grant,
<br />bargain, sell, and convey to the Trustee, its successors and
<br />assigns, the following real estate, with all appurtenances
<br />thereto, to —wit:
<br />A tract of land comprising a part of the Southeast
<br />Quarter (SEI,.) of Section Fifteen (15), Township Eleven
<br />(11), North, Range Nine (9), West of the 6th P.M., City
<br />of Grand Island, Hall County, Nebraska, and more
<br />particularly described as follows:
<br />Beginning at the Southeast corner of the North Half of
<br />the Southeast Quarter (N'SE); thence running Southerly
<br />along the East line of said Southeast Quarter (SE.-) a
<br />distance of Three Hundred Forty Nine and Six Tenths
<br />(349.6) Feet to a point that is Nine Hundred Seventy
<br />(970.0) Feet North of the Southeast corner of said
<br />Southeast Quarter (SE,,); thence running Westerly,
<br />parallel to the South line of said SE: a distance of
<br />One Thousand Six Hundred Twenty Five and Four
<br />Hundredths (1,625.04) Feet to a point on the Easterly
<br />line of Cherry Street; thence running Northwesterly
<br />along the Easterly line of Cherry Street a distance of
<br />Three Hundred Fifty Two and Two Tenths (352.2) Feet to
<br />the Southwesterly corner of LUtt's First Addition;
<br />thence running Northeasterly along the Southerly line
<br />of L(itt's First Addition and its extension n distance
<br />of One Hundred Thirty Two (132.0) Feet, thence running;
<br />Easterly a distance of One Thousand Six Hundred Seventy
<br />Seven and Six hundredths (1,677.06) Feet to the point
<br />of beginning land containing 14.20 acres, mare or less,
<br />of which 0.26 acres more or less I'S occrrp i aid by publ i c
<br />road right of t•✓ay.
<br />TO 11AVf', AND '1'0 HOLD Lit(, premise;, Plt 1„ rtv,
<br />and raghtx unto L1re, frustc,e a n 0r i wens
<br />forever, hi_it in trust, ncvert h<lrs. for tho I,�nr, fit l �u,ite
<br />f tall p.,I n; wh(' nary 1)o((111 c, �) dn0,rs Irrlrirrs
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