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<br />~~+A~ L :~S i~.Z'~ M4)IiTGAtsE
<br />IZTtiTt7~nT ALL ME~t BY THESE PRESENTS That Merc:-~ants Development Co.
<br />II, A Partnership, duly organized and. existing under the
<br />laws of the State of Nebraska as Mortgagor, in consideration
<br />of ©N.E Ht~NDRED THQUSAND AND NO/1010 DoLLAxs ~~loo,~~~.oa} in
<br />hand paid do hereby grant, bargain, sell and convey unto The
<br />First National Bank of Grand Island, Grand Island, Nebraska,
<br />a Banking Corporation in Grand Island, Hall County, Nebraska,
<br />as Mortgagee, the following described real estate situated in
<br />Hail County and the State of Nebraska, to-wit:
<br />Lot Four (4), Block Sixty-Four (64), Original
<br />'Down, Hall County, Nebraska,
<br />together T,aith all improvements thereon, including but not
<br />li~rited to fencing, irrigation pumps, *aells and equipment, and
<br />all related apparatus, fixtures, appurtenances thereunto be-
<br />longing and other similar improvements, and all covenants and.
<br />all. title deeds panning with. such lands; and ail rents, issues
<br />and profits thereof arising therefrom after default in per-
<br />formance of any covenant and condition herein contained,. and
<br />all water rights and easements; the intention being to convey.
<br />hereby an absolute title and fee simple and to convey all and
<br />every right, title and interest o£ such Merchants Development
<br />Co. II, A Partnership, in and to such real property. The.
<br />Mortgagor does hereby covenant with. the Mortgagee, its suc-
<br />cessors and assigns, that it is lawfully seized of said real
<br />estate; that such real estate is free from. encumbrances and
<br />they warrant and defend said premises against any and all
<br />persons whomsoever.
<br />TO HAVE AND TO HOLD, the premises above-described with all im-
<br />provements thereon., including but not limited to fencing, ir-
<br />rigation pumps, wells and equipment, and all related apparatus,
<br />fixtures, appurtenances thereunto belonging and other similar
<br />improvements and all covenants and all title deeds running with
<br />such lands; and all rents, issues and profits thereof arising
<br />therefrom after default in performance of any covenant and.
<br />condition therein contained, anal all water rights and easements,
<br />belonging unta the said The First National Bank o£ Grand Island-.
<br />Grand .Island, Nebraska, and to its successors and assigns for-
<br />ever, provided always, and these presents are upon the express
<br />condition Chat if the said Mortgagor, its successors or assign: ,
<br />shall say or cause to be paid to The First National.. Bank of
<br />Grand Island, Grand Island, Nebraska, its successors or assigns,.
<br />the su*.?'t of ONE Hf.]NI3RED THOUSAND Ai~TD NO/100 I3OLL~iRS ~100,0C10.pC~,
<br />plus irr.terest, all according to the tenure and effect of a
<br />certain promissory note of the Mortgagar bearing even date with
<br />t?-<ese presents; sha.1Z pay aI? taxes and assessments levied uan_n__
<br />such. real estate and ail other taxes, levies and assessments=
<br />le~Ti°~ upon this mortgage or upon the note which this mortgage
<br />is given to secure befr~re the same becomes delinquent; shall.
<br />.keep the improvements on such real estate insured where i -
<br />surar~.ce is applicable and shall not. permit or cotllmi t any waste
<br />an s~.ch real. property, then these presents to be void, other-
<br />wise to be in mall force and effect. }
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