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<br />1074182
<br />FIRST REAL ESTATE MORTGAGE
<br />Ward Bilslend and Gwen B'ilslend, husband and wife,
<br />Mortgagors, in consideration of FORTY THOUSAND DOLLARS
<br />($40,000.00), mortgage to Bank of Mood River, a Nebraska Banking
<br />Corporation, Mortgagee, the following described real estate
<br />situated in Hail County, Nebraska`:
<br />Southeast Quarter of the Southeast Quarter (SE 1/4
<br />Sr, 1/4) and the South half of the Northeast Quarter
<br />of the Southeast Quarter (5 1/2 NE 1/4 SE 1/4) in
<br />Section Four (4), Township Nine (9) North, lunge
<br />Twelve (12) West of the 6th P.M. in Hall County,
<br />Nebraska.
<br />This First Real Estate Mortgage is given to secure the
<br />payment of the principal sum of FORTY THOUSAND DOLLARS
<br />($40,000.00) and interest at. a variable rate from December 30,
<br />1986, payable in installments according to the terms of a
<br />Commercial Note (Variable Rate) dated December 30, 1986, executed
<br />and delivered by Mortgagors to Mortgagee, the principal and
<br />interest being payable in installments as follows:
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />1987;
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />198$;
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />1989;
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />1990;
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />1991;
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />1992;
<br />FOUR THOUSAND nOLI.ARS ($4,000.00), with interest, on December 30,
<br />1993;
<br />FOUR THOUSAND DOLLARS (S4,000.00), with interest, on December 30,
<br />1994;
<br />FOUR THOUSAND DOLLARS (S4,000.00), with interest, on December 30,
<br />1995; and
<br />FOUR THOUSAND DOLLARS ($4,000.00), with interest, on December 30,
<br />1996.
<br />Interest is payable for the first anniversary of the Note on
<br />December 30, 1987, at the rate of Ten and one - fourth (10 1/4)
<br />percent per annum and interest thereafter will be based upon the
<br />prime rate charged by Mortgagee to its customers determined on
<br />each anniversary date of the Note until the Note is paid in full.
<br />The *cote provides if interest is not paid when due, or if
<br />any other indebtedness of the Makers to the Mortgagee is not paid
<br />when due, or if a garnishment summons or a writ of attachment is
<br />issued against or served upon the Mortgagee for the attachment of
<br />any property of the Makers in the possession of the Mortgagee or
<br />any indebtedness owing to the Mortgagee, or if the holder of the
<br />Note shall at any time in good faith believe the prospect of due
<br />and punctual payment of the Note is impaired, then., in any such
<br />r
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