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0 <br />85-- 004244 <br />MORTGAGE AND SECURITY AGREEMENT <br />T IS MORTGAGE AND SECURITY AGREEMENT, made this 27117 <br />day day of <br />H�,'�% 1985, by and between LAKEVIEW HOMES, INC. , as <br />Mortgago (herein sometimes called ''First Party "), and BEVERLY <br />ENTERPRISES, a California cornoration with its principal place <br />of business in Pasadena, California ('Second Party ''), <br />W- I- T- N- E- S- S- E -T -H: <br />WHEREAS, Bob Hindman and Vincent Dowding, citizens and <br />residents of Nebraska have executed a promissory note <br />(hereinafter the "Note ") agreeing to pay Second Party the <br />principal amount of $1,600,000.00 with interest as provided in <br />said Note; and <br />WHEREAS, Bob Hindman and Vince Dowding are the majority <br />stockholders of First Party; and <br />WHEREAS, First Party owns certain real estate and personal <br />property comprising of a nursing home commonly known as Heritage <br />Village of Grand Island South, which real estate and personal <br />property are described on Exhibit A attached hereto (such real <br />estate and personal property and all right, title and interest <br />which First Party has or may have therein being hereinafter <br />sometimes referred to as Real Estate ), <br />NOW, THEREFORE, in order to <br />secure '' -e _- epayment of all <br />principal and interest and other <br />charges and amounts pursuant to <br />the Note by Bob Hindman and Vince <br />Dowding and -,: ^:e performance cf <br />any and all other obligations of <br />Bob Hindman and Vance Dowding <br />or First Party thereunder, and <br />c sec,--re -ne performance and <br />observance by First Party <br />:ery co,:enan- and condi_ion <br />therein and herein contained, a -d . ,. n: ?! locd a: ca :aivabie <br />consideration, all of which <br />::ere:::after referred ,., as the <br />Secured Obligation, 73 ar ~y <br />,v -nese - resents _oes h,rebv <br />mortgage and assign unto Seccn <br />Par -Y-. ::d to ._ s :ccl ssors <br />and assigns _forever, a:. ;f <br />:a. ~_ _res *_, ec• )caned <br />and hereafter acquired, _r. :e <br />a e ..3:.: zersona. property <br />described on Exh b:. .. at.i:cne„ <br />:r: e- ,:... cnatre_s =eat, <br />personal property and ,. �-:er <br />pe: - _ _:, arcs-., a::c :ghts <br />(herein collectively <br />Property') , toget ^.er w-. _. <br />Z ..emer.`s and <br />structures at an <br />oiaced t::ereon; <br />_4es <br />im <br />F . <br />