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REAL ESTATE MORTGAGE <br />BARBARA G. STEPHENS, herein called the "Mortgagor ", in <br />consideration for the forbearance of FRANK E. GALLUP in connection <br />with the seventy Thousand and No /100 Dollar ($70,000.00) <br />sory Note of RICHARD E. STEPHENS, Promis- <br />JR., referred to hereinbelow, <br />and other valuable consideration, the adequacy and receipt of <br />which is hereby acknowledged, does hereby mortgage to FRANK E. <br />GALLUP, herein called the "Mortgagee ", the following - described <br />real estate in Hall County and State of Nebraska, to -wit: <br />West Half (W�) of Section Three (3), Township <br />Ten (10) North, Range Eleven (11) West, in <br />Hall County, Nebraska; and <br />South Half of the Southwest Quarter (SkSW;) <br />of Section Thirty -Four (34), Township Eleven <br />(11) North, Range Eleven (11) West, in Hall <br />County, Nebraska. <br />The Mortgagor does hereby covenant with the Mortgagee and <br />With the Mortgagee's heirs and assigns that the Mortgagor is <br />lawfully seized of said premises, that they are free from encum- <br />brance, that Mortgagor has good right and lawful authority to <br />convey the same, and that Mortgagor warrants and will defend the <br />title to said premises against the lawful claims of all persons <br />whomsoever. <br />This Mortgage is given to secure the payment of the princi- <br />pal sum of Seventy Thousand and No /100 Dollars ($70,000.00) and <br />interest thereon according to the terms of a certain Promissory <br />Note dated October 29, 1984, executed by Richard E. Stephens, Jr. <br />to the Mortgagee, the terms and conditions of which Note are <br />incorporated herein and made a part hereof by this reference. <br />The Mortgagor agrees to pay all taxes and assessments upon <br />said premises and all other taxes, levies and assessments levied <br />upon this Mortgage and the Note which this Mortgage is given to <br />secure before the same become delinquent. In the event the <br />Mortgagor shall fail to pay such taxes before delinquent, the <br />Mortgagee may pay such taxes or other liens and shall have a lien <br />secured hereby for the amount so advanced with interest thereon <br />at the maximum legal rate. <br />In the event Richard E. Stephens, Jr, defaults in the <br />payment of the aforereferenced Promissory Note or any installment <br />thereof, or the Mortgagor fails to make payment of taxes before <br />the same become delinquent or fails to perform any of the other <br />agreements herein, the Mortgagee, at his election, may declare <br />the entire debt secured by this Mortgage to be due and <br />collectible at once and may foreclose this Mortgage for the <br />satisfaction thereof. <br />Signed this day of 1 <br />1985. <br />ar ara�G. Stephens <br />STATE OF NEBRASKA ) <br />COUNTY OF l `.�... `h y ) s c <br />Before me, a Notary Public <br />per- <br />sonally came Raa-bara G. Stephens, for Laid county, per - <br />Stephens, to me known to be the identical <br />person who signed the foregoing heal Rstate Mortgage, and <br />acknowledged the execution: <br />deed. thereof to be her voluntary act and <br />:witness my hand and Ncturial. <br />: >,_ a l nn ' <br />MtMI" -Mm • Ihb�gr <br />o.9" ua out <br />11r 4Ma Cy Mp pMi <br />