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I i 86---" '107547 PURCHASE MONEY REAL ESTATE MORTGAGE GARY FALLDORF and BARBARA FALLDORF, husband and wife, MORTGAGORS, in consideration of THIRTY -FOUR THOUSAND SIX HUNDRED FIFTY DOLLARS ($34,650.00), mortgages to ROBERT B. MILLER, MORTGAGEE, the following described real estate (as defined in Section 76 -201 of the Pevised Statues of Nebraska, 1943) in Hall County, Nebraska: Lot Eight (8), in Block Four (4), in Arnold Place, in the City of Grand Island, Nebraska, as surveyed, platted and recorded. This mortgage is to secure the payment of the principal sum of THIRTY -FOUR THOUSAND SIX HUNDRED FIFTY DOLLARS ($34,650.00), and interest at eight per cent (8$) per annum from December 30, 1986, and is payable in one hundred twenty (120) consecutive monthly installments of FOUR HUNDRED TWENTY AND 41/100 DOLLARS ($420.41) on the 1st day of each month, commencing February 1, 1987, according to the terms of the Promissory Note dated December 30, 1986, executed and delivered by Mortgagors to Mortgagee, the principal and interest being payable in :monthly payments and amortized over a period of one hundred twenty (120) consecutive months until the entire unpaid balance of principal, together with accrued interest, is paid in full. The Promissory Note provides time is of the essence of the Promissory Note and if default is made in any monthly installment payment for a period of more than sixty (60) days, the holder of the Promissory Note may, without notice or demand, declare the entire principal sum then unpaid, together with accrued interest thereon, immediately due and payable. The Makers of the Promissory Note reserve the right to prepay the unpaid balance of the indebtedness on the note on any monthly installment payment date by payment of one or more of the monthly installments of principal, but any prepayment made by Makers does not relieve Makers from payment of the next monthly installment after the prepayment date. Mortgagors agrees to pay all real estate taxes and special assessments levied and assessed upon the real estate and to pay all other taxes, levies and assessments levied upon this Mortgage and the Promissory Note which this Mortgage is given to secure before payment is delinquent. If Mortgagors fail to pay the real estate taxes or special assessments before delinquent, Mortgagee may pay the real estate taxes and special assessments, or pay any other liens Mortgagors permits to be made against the real estate, and Mortgagee is given a lien secured by this Mortgage for the amounts advanced by the Mortgagee together with interest at the highest legal rate. Mortgagors agree to insure and keep insured the improvements on the real estate for protection against fire and other casualties in a sum of at least the unpaid balance of principal L 1W I - I