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86-- 107548 PEAL ESTATE MORTGAGE GORDON D. BAINBRIDGE and ROGENE L. BAINBRIDGE, husband and wife, herein called the Mortgagors, in consideration of FIFTY THOUSAND AND N01100 DOLLARS ( ;50,000.00) do hereby mortgage to NORWEST BANK NEBRASKA, N.A., GRAND ISLAND, NEBRASKA, TRUSTEE OF THE ORTHOPEDIC ASSOCIATES OF GRAND ISLAND, P.C. PROFIT SHARING PLAN AND TRUST, herein called the Mortgagee, the following - described real estate in Hall County, and State of Nebraska: Lot One (1), Block Two (2), in Replat of Riverside Acres, an Addition to the City of Grand Island, Hall County, Nebraska. And the Mortgagors do hereby covenant with the Mortgagee and with Mortgagee's successors and assigns that Mortgagors are lawfully seized of said premises, that Mortgagors have good right and lawful authority to convey the same, and that Mortgagors warrant and will defend the title to said premises against the lawful claims of all persons whomsoever. This Mortgage is given to secure the payment of the prin- cipal sum of Fifty Thousand and No /100 Dollars (550,000.00) and interest thereon, according to the terms of a certain Promissory Note dated December 23, 19 86, executed by Gordon D. Bainbridge to the Mortgagee, due the 23rd day of December, 1991. Rogene L. Bainbridge joins in this Real Estate Mortgage as spouse of Gordon D. Bainbridge. Mortgagors and Mortgagee acknowledge that the Mortgagee has relied upon this Real Estate Mortgage by Rogene L. Bainbridge in extending credit under the Promissory Note and distributing the proceeds cf the Promissory Note to Gordon D_ Bainbridge. The Mortgagors further agree to maintain insurance upon the above- described premises in an amount not less than the indebted- ness due the Mortgagee. The Mortgagors agree to pay all taxes and assessments upon said premises and all other taxes, levies and assessments levied upon this Mortgage and the Note which this Mortgage is given to secure before the same become delinquent. In the event the Mortgagors shall fail to obtain such insurance or pay such taxes before delinquent, the Mortgagee may purchase such insurance and pay such tares or other liens and shall have a lien secured hereby for the amount so advanced with interest thereon at the maximum legal rate. In the event the Mortgagors default in the payment of said indebtedness or any installment thereof, or fail to perform any of the other agreements herein, the Mortgagee at its election may declare the entire debt secured by this Mortgage to be due and -1- I