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MORTGAGE 8677S
<br />'This Mortgage is entered into between John J. Hatfield
<br />and Bavarly L. Hatfield, husband and wife, as joint tdnants
<br />and,not as tenants in eoaaos(herein- mortgagor) and The State°
<br />Bank of Cairo, A Nebraska Banking Corporation (herein
<br />mortgagee).
<br />Mortgagor is indebted to Mortgagee in the principal .sum
<br />of 0_39.000_00---------------- , evidenced by Mortgagors'
<br />note dated !1ov 4,_1986 _ (herein Note) providing for payments
<br />of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on
<br />Nov 5, 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 performance of the covenants and
<br />agreements of the Mortagagor contained herein, Mortgagor
<br />does hereby mortgage and convey to Mortgagee the following
<br />property located in ball County, Nebraska.
<br />The Southeast Quarter (SE1l4) of Section 5, Township 11
<br />North, Range 129 West of the 6th P.M., Hall County, Nebraska
<br />Together with all buildings, improvereents, fixtures,
<br />streets, alleys, passageways, easements, rights. privileges
<br />and appurtenances located thereon or in anywise pertaining
<br />thereto, and the rents, issues and pro =it:s, reversions and
<br />remainders thereof, all of wtlich. including repiacement�i and
<br />additions thereto. is, hereby declared to be a part of the
<br />real estate secured by the li.ere cf this Mortgage and all of
<br />the foregoing being referred to teertF-1r'- as the "Propert;+ ".
<br />Mortgagor further ccenv-�n<nt.s and acirees with Mortgagee,
<br />as f of l ows:
<br />1. Paysreent. To pay the indebtedness and the interest
<br />thereon as provided in thee. Mortgage -ier:d the Note.
<br />_.
<br />M ot - tgagor, i s the c:wner- of the Property, has the
<br />right and author `y to -710,1 triage the Rrc�per'ty, and wart ants
<br />that the lien c; r-eat ed her e t y is a r i r-st and prior 1 i eft on the
<br />Property.
<br />3. To pay when di.te al I tra, Es. � pec.e. ri asseysrr:ents and
<br />all other crrarges against t;e r csperty aced, upon written
<br />demand by Mortgagee, to ndd to the payment required ;..ender the
<br />Note secured hereby, such azacunt as may be sufficient to
<br />enable the Mortgagee to pay such tares, assessrnen::s or other
<br />charges as they become due.
<br />4. In the event the Proper�_y, or anrJ,part thereof,
<br />shall be taVen by emir neat domain, the Mo, °tgagee is empowered
<br />to collect and receive all compensation may be paid-for
<br />any property ta4:en or for- damages to proper r�r -psi.. taF en, and
<br />Mortgagee shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness Secured hereby or
<br />to repair and restore the property so damaged.
<br />5. Mortgagee may, but shall have no obligation, to do
<br />any act which the Mortgagor has agraed but fails to do, and
<br />Mortgagee may also do any act it deerels necessary to protect
<br />the lien hereof. Mortgagor agrees to repay, upon demand, any
<br />sums so expended by the Mortgagee -For the Bove pul proses, and
<br />any srrrrrs so ea persaed by the Mort9, Al ,sha be added to the
<br />indebtedness secured hereby a!sad become subject to th I.. en
<br />hereof. Mortgagee Shall r,o +_ irecu!r- arty per =_conil liat�?ilit'y
<br />because of any.t }` i pq it imay do or r_:mi t. to do
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