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$5-- 004459
<br />SECOND REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS :
<br />THAT ELLIOTT ALL- WEATHER SURFACES, INC., a Nebraska corporation,
<br />(Mortgagor) of Hall County, and State of Nebraska, in consideration of the sum
<br />of FIVE THOUSAND SEVEN HUNDRED FIFTY DOLLARS (¢5,750.00) in hand paid, do
<br />hereby SELL and CONVEY unto FLINN PAVING CO., INC., a Nebraska Corporation,
<br />(Mortgagee) of Douglas County, and State of Nebraska, the following described
<br />premises situated in Hall County, and State of Nebraska to -wit:
<br />Lot Six (6) of Schuele Subdivision in Hall County,
<br />Nebraska, comprising a part of the Northeast Quarter (NEk)
<br />of Section Twenty -Six (26), Township Eleven (11) North,
<br />Range Ten (10), West of the Sixth (6th) P.M. in Hall
<br />County, Nebraska
<br />The intention being to convey hereby an absolute title in fee simple
<br />including all the rights of homestead and dower.
<br />TO HAVE AND TO HOLD the premises above- described with all the
<br />appurtenances thereunto belonging unto the Mortgagee or Mortgagee and to its
<br />successors and assigns, forever, provided always, and these presents are upon
<br />the express condition that if the Mortgagor, its successors or assigns shall
<br />pay or cause to be paid to the Mortgagee and to its successors or assigns, the
<br />sum of FIVE THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($5,750.00), without interest
<br />thereon, payable as follows, to -wit:
<br />A One Thousand Dollar ($1,000.00) payment on September
<br />16, 1985; a One Thousand Five Hundred Eighty Three and
<br />33/100 Dollars ($1,583.33) payment on September 6, 1986
<br />and lice annual payments of One Thousand Five Hundred
<br />Eighty Three and 33/100 Dollars ( ;1,583.33) on September
<br />6 of each year thereafter until paid in full
<br />according to the tenor and effect of the Promissory Note of Mortgagor, bearing
<br />even date with these presents, and shall pay all taxes due on any prior
<br />mortgage and assessments levied upon the real estate and all other taxes,
<br />levies and assessments levied upon this mortgage or the note which this
<br />mortgage is given to secure, before the same becomes delinquent and keep the
<br />buildings on said premises insured for the sum of $25,000.00, lose, if any,
<br />payable to such first mortgagee or this mortgagee, or both, then these
<br />presents be void, otherwise to be and remain in full force.
<br />IT IS FURTHER AGREED (1) That if the said Mortgagor shall fail to
<br />pay such taxes and such interest on, or maturing installments of principal due
<br />on any prior mortgage, and procure such insurance, then the Mortgagee may pay
<br />such taxes and procure such insurance; and the sum so advanced with interest
<br />at the maximum legal rate of interest shall be paid by the Mortgagor, and this
<br />Mortgage shall stand as security for the same. (2) That a failure to pay any
<br />of said money, either principal on this or principal or interest on any prior
<br />mortgage, when the same becomes due or a failure to comply with any of the
<br />foregoing agreements, shall cause the whole sum of money herein secured to
<br />become due and collectible at once at the option of the Mortgagee.
<br />IT IS FURTHER AGREED That Mortgagee, pending foreclosure of this
<br />mortgage and after decree and pending stay thereon or appeal therefrom and
<br />pending sale of premises mortgaged, may pay such taxes and maturing interest
<br />or maturing installments of principal, on prior mortgages, procure such
<br />insurance and such sums shall be added to the amount due on decree and upon
<br />confirmation of sale by the court ordered taken out of proceeds of sale; or if
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