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<br />d5— 001355
<br />,MORTGAGE
<br />'rhis Mortgage it entered into between Orville HUIMO and
<br />Ern&'Hulmwo husband and wife, and Lois J. Hughes and Harlan
<br />8- Hughes, wife and husband (herein mortgagor) and The State
<br />Bank of Cairo, A Nebraska Banking CCWPCW'atic)n (herein
<br />mortgagee).
<br />Mortgagor is indebted*to Mortgagee in the principal sum
<br />of $71,000.'Oo, evidenced by Mortgagors' note dated March
<br />-IZ-, 1985 (hereirt h4ote) Providing for payments of principal
<br />and interest, with the balance of the indebtedness, if not
<br />sooner paid, due'and Payable on March _12__, 1989.
<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 Hall County, Nebraska.
<br />The South One Half (S 1/2) of Section Eleven (11),
<br />Township Twelve (12) North, Range Twelve (12), West of the
<br />6th P.M., Hall County, Nebraska.
<br />Together with all buildings, improvements, fixtures.
<br />streets, alleys. Passageways, easements, rights, privileges
<br />and appurtenances located thereon or in anywise pertaining
<br />thereto, and the rents. issues and profits, reversions and
<br />remainders thereof, all of which, including replacements and
<br />additions thereto, is hereby declared to be a part of the
<br />real estate secured by the lien of this Mortgage and all of
<br />the foregoing being referred to herein as the "Property".
<br />Mortgagor further convenantc-; and agrees with Mortgagee,
<br />as follows:
<br />2. Payment. To pay the indebtedness and the interest
<br />thereon as provided in this Mortgage and the Note.
<br />2. Mortgagor is the owner of the Property, has the
<br />right and authority tc mortgage the Property. and warrants
<br />that the lien --reated hereby is a first and prior lien on the
<br />Flr open t;,.
<br />3- TO Pay when due all taxes, special assessments and
<br />all other charges against the Property and, upon written
<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 Property, or any Part thereof,
<br />shall be taken by eminent domain, the Mortgagee is empowered
<br />to collect and receive all compensation which may be paid for -
<br />any property taken or for damages to property not taken, and
<br />Mortgagee -,hall apply suvh compensation. at its option.
<br />either to a reduction of the indebtedness secured hereby or
<br />to repair and restore the property 50 damaged.
<br />Mor Lyaqww may, buL iMimil Jjav& rio e.blly,%t.i to do
<br />any art Which the MOrIgagor has agreed but fall%, to do. and
<br />Mortgagee may also do any act it deems n0cV%5ar"Y to protect
<br />the lien hereof. Mortgagor agrees to repay, i.ipcjn demand. ,any
<br />sums SO expended by the Mortgagee for the above purposes, and
<br />any %Ums 50 expended by ttae Mortgagee shall be added to the
<br />indebtedness secured Pjeret)y And h"cumv uI.Abject to the lien
<br />her v.-cj* . Mortgagee
<br />5I-j,,jIj neat jncl.lr
<br />env pf b V
<br />n+ anything it may do or, omit t(I (If) V
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