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<br />85-4, 001953
<br />MORTGAGE
<br />This Mortgage is entered into between Marvin M. Hartmann
<br />and Elaine M. Hartmann, husband and wife as joint tenants and
<br />not as tenants in common (herein mortgagor) and The State
<br />Bank of Cairo, A Nebraska Banking Corporation (herein
<br />mortgagee).
<br />Mortgagor is indebted to Mortgagee in the principal sum
<br />of $100,000.00, evidenced by Mortgagors' note dated March
<br />_2gL_, 1985 (herein Note) providing for payments of principal
<br />and interest, with the balance of the indebtedness. if not
<br />sooner paid, due and payable on March2.8__, 1990.
<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 />East Half of the Northwest Quarter (E1 /2 NW1 /4) and the
<br />Northwest Quarter of the Northwest Quarter (NW1 /4 NW1 /4) of
<br />Section 32, Township 11 North, flange 11, West of the 6th
<br />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 anvwise pertaining
<br />thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, ail of which, includinq replacements and
<br />additions thereto, i�, he=reby declared to tie a part of the
<br />real estate ser_ured by the lien of this Mortgage and all of
<br />the foregoing beinq r�aferr'ed to herein as the "Property".
<br />Mortgagor further convenants and agrees with Mortgagee,
<br />as fol lc;ws:
<br />1. Payment. To pay the indebtedness and the interest
<br />thereon a5 provided in 11 -11�; Mortgage and the Note.
<br />Mortgagor` i:; the (iwner of the Property, ha_ the
<br />right and authority to nror-tgage the Fr operty, and warrants
<br />that the lien cr ee.;t d hereby Is a f i rat and prior lien on the
<br />Property.
<br />To pay when due all taxes, <special assessments and
<br />all other charges aq,ainst 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 to >;es. assessments or other -
<br />charges as they become doe.
<br />4. in the event the Gr-operty, (.)r any part thereof,
<br />Shall be taken by eminent: domain, the Mor tgagr:�e is empowered
<br />to col1e'ct- and ro_�c.exvex Bali c:um {.en =.at nn which may be paid for.
<br />any property t:ak:en or for damages to propf--,r ty riot taken, and
<br />Mortgagee tsPr,al 1 .appl v -;LA01 C0111penG;at i on, at its option,
<br />either to a reduction of the_ > ndebtedne5 =s .,eci.rr ert hereby or
<br />to repair and r e!3tor e3 t.trfa prf:rper t. y i,ri r:Jamaq :d.
<br />5. Mortgagee rnay, bolt: esh,: +ll have no �l.rligat;on. to do
<br />my .ae:'.t whit::) the Mr:rr lgayur h,a!_', a greed I:n.it f .al l e; to do. aura
<br />Mortyearaee rn,;y <al >o d(5 ,any ,rr.t r.t de;rem nece
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