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86-102878
<br />MC1RT43AGi E
<br />This Mortgage is entered into between Kenneth S.
<br />Woitaszowski and Debra L. Woitaszewski, his wife; Jerald D.
<br />Woitaszewski and Linda Woitaszewski, his wife; Ronald J.
<br />Woitaszewski and Kathy Woitaszewski, his wife; and Dennis E.
<br />Woitaszewski, a single wan, therein mortgagor) and The
<br />State Bank of Cairo, A Nebraska Banking Corporation (herein
<br />mortgagee).
<br />Mortgagor is indebted to Mortgagee in the principal sum
<br />of $200,000.00, evidenced by Mortgagors' note dated May 29
<br />, 1986 (herein Note) providing for payments of principal and
<br />interest.. with the balance of the indebtedness, if not sooner
<br />paid, due and payable on December 15 1996 .
<br />To secure the payment of the Note, with interest as
<br />provided therein, the payment of all other sums, with
<br />interest advanced by Mortgagee to protect the security of
<br />this Mortgage, and the perforrnanr_e of the covenants and
<br />agreements of the Mortagagor coritairied herein, Mortgagor
<br />does hereby mortgage and convey to Mortgagee the following
<br />property located in Hall County, Nebraska.
<br />The Northwest Quarter of Section 28, Township 11 North, Range
<br />11, West of the 6th P.M.
<br />Together with all builc'ings, improvealent �, fl:: tllrr:.5,
<br />streets, alleys, passageways, easements, rights, p�"ivi.leges
<br />and appurtenances located thereon or in anywise pertaining
<br />thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, all of which, .-including replacements and
<br />additions thereto, is hereby declared to be a part of the
<br />real estate secured by the lien of this Mortgage and all of
<br />the foregoing beinc. referred to her Fin as the "Property ".
<br />Mortgagor- = urther convenes! is and acQrees wi th ;tor tgagee,
<br />as follows:
<br />1. Payment. To pay the indebtedness and the interest
<br />thereon as provided in this Mortgage and the Note.
<br />�. or t gage: is the owner o s)e Property, s t lr_
<br />right and authority to mortgage the Property, and warrants
<br />that the lien r.,- _-atgd herer?y is a firs,: :u)d prior lier-i on the
<br />Pr- oper rv.
<br />_ .
<br />To pay, whert due all t_ ti:; t�s, -ptc 1 al ._assessments and
<br />all other charges against the Property and, upon written
<br />demand by Mortgagee, to add to the payment required under the
<br />Note secured hereby, such amount as irlay, to sufficient to
<br />enable the Mortgagee to pay such tares, assessF+ents or other
<br />charges as they become due.
<br />4. In the event the Property, or any part thereof,
<br />shall be taken by eminent domain, the Mortgagee is empowered
<br />to collect and receive all compensation which mays be paid for
<br />any property taken or for oafT3ages tc property nit taken, and
<br />Mortgagee shall apply such co;ripen =ration. ai- its option.
<br />either to a reduction cif the indebtedness secured hereby or
<br />to repair and restore the property Aso damaged.
<br />S. Mortgagee may, but shall have no obligation, to do
<br />any act which the Mortgagc)r" has agreed but. fails to do, and
<br />Mortgagee may also Flo Ynv act it deems nece, >sary to protect
<br />the lien hereof. Mortgagor agrees to repay, upc)r) demand, a +�y
<br />auras s:,a a >:per)dF >r by the Mortgagee f )r the above purpose:. jnd
<br />ar,y surr)s scr expended by the Mor-tr ;ageE ,- hal,l, tk@ added to the
<br />i. . . t al' l3�n rrdbte, ,a x c it ed t)°rel al r)eci m
<br />tit ut. rli:trk.,3)�r i ))1,_ .rt r rl.r�>ritl 1]abtlitty
<br />i.it
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