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0w02~
<br />MnnTaAos
<br />This Mortgage is entered into between Donald A.
<br />Rasmussen � z x Rasmussen, whusband and *u+e , as join
<br />t
<br />tenants and not tenants in cow��� (herein mortgagor) arid
<br />The State Bank of
<br />Cairo, m Nebraska Banking Corporation
<br />(herein mortgagee).
<br />Mortgagor is indebted to Mortgagee in the principal soir,
<br />Of $10,000.m0 , evidenced by nortuaqors' note dated December o
<br />1986 (herein Noce-) providing +or pavments Of Principal and
<br />interest, with the balance of the indebtedness, i+ not sooner
<br />paid, due and payable on December z 19o7 '
<br />ro secure the pavment o+ the Note, with interest as
<br />provided therein, the payment o+ all other sums, with
<br />interest advanced by Mortgagee to protect the security o+
<br />this Mortgage, and the performance of the covenants and
<br />agreements of the mortagagor contained :ereln, Mortgagor
<br />does hereby mortgage and cu,vey to nortnaose t-he +ozzowinq
<br />property located in maz/ County, Nebraska.
<br />Lot Three (3) in Block Seventeen (17), Original Town of
<br />Cairo, as surveyed, platted and recorded, in Hall county,
<br />Nebraska,
<br />'Together with all buildings. ix.prcveaents.
<br />streets, alleys, passageways, easemen ts. r"gpts, privileges
<br />and appurtenances located thereon or in a"/wise pert��inlng
<br />thereto, and the rents, issues and pro-Fits, re"ers�ons and
<br />remainders thereo+` aW of whicK incDuuinq replacements and
<br />additions txereto, is hereby ueclared Lo be a part o+ the
<br />reaz esLate secured by the jien o+ t/`�s �nd al! .`+
<br />tre foregoing being referred to /.erein es the 'property".
<br />Mortgagor further convenants and agrees with Mortgagee,
<br />as follows:
<br />1. pavment' To pa/ the indebtedness anu We ,nterest
<br />thereon as provided in thl-s Mc;,r-tgdge al-K, the
<br />2' mortgagor is the owner o+ �Jie property, has the
<br />right and authority to mortgage the Property, and warrancs
<br />that the lien created hereby is a first and prior lien on the
<br />Property.
<br />To pay when due all taxes, spec`az assessments anu
<br />all other charges against the popertv anu. upon wr�t�en
<br />�
<br />demand by mortgagee, to add to the Payment required under the
<br />Note secured hereby, such amount as may be sufficient to
<br />enable the Mortgagee to pay such taxes, assessments or other
<br />charges as they become due.
<br />4, In the event the proper'—,, or any part therepf
<br />sha�� ue �a^en u� emz"en� uoma�", �x� �nr� �
<br />�o collect a^u reca�"e all =�mpensa���r �� �r
<br />any property taken or for damages �o property not taken, and
<br />Mortgagee shall apply such compensatzon, 10 its option,
<br />either to a reduction of the indebtedness secured heret)v or
<br />to repair and restore the proper�, so uamaqeu.
<br />� o, Mortgagee mav, but shall ha,e no ouzioat-^,n, to do
<br />any act which the Mortgagor has agreed but +ai/s te dc, and
<br />Mortgagee may also do any act it deems necessar, to pro�ecL
<br />the lien hert-mo+' Mortgagor agrees repa,, up on an',
<br />sums so expended by the nortnaoen +or tne auD,e p`,roses, e,a
<br />ally svms so expenWeu by the mortgagee ue added tk-.) the
<br />inuebteuness secured hereby and become suu,ect no the L,°"
<br />he°eo+, Mortgagee sxa/z not Incur any perscna/ t,au`lztY
<br />u
<br />�
<br />because of onvt*ino it way go or u+/t t., do !e,p"'. e, '
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