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e 96--, 106248 REAL ESTATE MORTGAGE This Mortgage made this 22nd day of October, 1985, between Donald E. Stanley and Carolyn A. Stanley, husband and wife, hereinafter "Mortgagor," whether one or more, and Alma Irene Williams, a single person, hereinafter "Mortgagee." IN CONSIDERATION of Thirty Seven Thousand Five hundred Dollars ($37,500.00) advanced by Mortgagee to Mortgagor, who acknowledges receipt of such sum, which is evidenced by a Mortgage Note of even date, hereinafter "the Note," which this Mortgage secures the Mortgagor, jointly and severally, hereby mortgages to the Mortgagee the following described real property situated in the County of Hall, State of Nebraska, and described as follows: The South Half of the South Half of the Southeast Quarter (S 1/2 S 112 SE 1/4) of Section Eleven (11), Township Eleven. (11) North, Range Ten (10) West of the 6th P.M., in Hall County, Nebraska, together with all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may integrally belong to or hereafter become an integral part of such buildings and improvements, collectively "the Property." Mortgagor covenants with Mortgagee and its successors in interest that (i) Mortgagor holds title to the Property in fee simple and has lawful authority to mortgage the same, (ii) the Property is free of liens and encumbrances except as stated above, and (iii) Mortgagor will defend the Property against the lawful claims of any person or entity. I. PAYMENTS. Mortgagor shall promptly make all payments required under the Note and any other instalment securing the of the unpaid principal balance of the Note. Such insurance Policies shall contain a standard mortgage clause in favor of Mortgagee and shall not be cancelable, terminable or modifiable without ten (10) days written notice to Mortgagee. Mortgagor shall promptly repair, maintain and replace the Property, or any part thereof, so that, except for ordinary wear and tear, the Property shall not deteriorate. In no event shall the Mortgagor commit waste on or to the Property. 4. OPTIONAL ADVANCES. If the insurance required above is not promptly effected, or if the taxes or special assessments levied and assessed against the Property shall become delinquent, Mortgagee (whether electing to declare the whole mortgage due and collectible oz not), may, but need not, effect such insurance, -1- I J .