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REAL ESTATE MORTGAGE ''
<br />KNOW ALL MEN BY THESE PRESENTS That Merchants Development
<br />fro., A Partnership, duly organized and existing under the
<br />haws of the State of Nebraska zs Mortgagor, in consideratian
<br />of ~Ti::~ETY-FIRE THOUSAND T~;TO HUNDRED EIGHTY AND NO/lt}O DOLLARS
<br />~(~9`3,~84.00) in hand paid da hereby grant,. bargain, sell and
<br />convey unto The First National Bank of Grand Island, Grande
<br />Island, Nebraska, a Banking Corporation in Grand Island, Hall
<br />County,. Nebraska, as Mortgagee, the following described real.
<br />estate situated in Hall County and the State of Nebraska, to-
<br />~ait
<br />West One-Third ~LI3), Lot Two, Block Sixty-Four
<br />(64), Original Town, Hall County, Nebraska; and.
<br />West Two-Thirds (~/3), Lot Three (3), Block
<br />Sixty-Four (64), Original. Town, Hall County,
<br />Nebraska,
<br />together with all improvements thereon, including but not
<br />limited to fencing, irrigation pumps, wells and equipment, and
<br />all related apparatus, fixtures, appurtenances thereunto be-
<br />Longing and other simiTar_ improvements, and all. covenants and
<br />all title deeds running caith such lands; and all rents, issues
<br />and profits thereof arising therefrom after default in per-
<br />i~orrna~.nce 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, titI.e and interest of such Merchants Development
<br />Co., A Partnership, in and to such real property. The Mortgagor
<br />does hereby covenant with the Mortgagee, its successors and
<br />assigns, that it is lawfully seized of said real estate; that
<br />such real estate is free from encumbrances and they warrant and.
<br />defenid said. premises against any and all persons whomsoever,
<br />7C0 Ht?cVE AND TO HOLD, the premises above-described with all im-
<br />provements thereon, including but not. limited to fencing,. r-
<br />~-igat:ion 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 ari::s3.n_g
<br />therefrom after default in performance of any covenant and.
<br />condition therein contained, and all water rights and easements,
<br />belonging unto the said The First National Bank of 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 that if the said Mortgagor, its successors or assigns,
<br />shall pay ~r case to be paid to The First. National Bank, of
<br />Grand Island, Grand Island, Nebraska, its successors or assigns,
<br />t:he sum of NINETY-°F'lVE THO€ISANI? TWO H~TP~ID~R.ED EIGHTY AND N~lllf3ft
<br />DOT:.T,~.R 095,280.00), plus interest, all according to the terrors
<br />anc c~~'ect of a certain promissory note of the Mortgagor bearing
<br />E~ret~ mate with these presents; shall pay all taxes and assess
<br />;~~en~ s, 'Leer, ed upon: such real estate and al.l other taxes,. levies
<br />and :-.sscss±ents levied upon this mortgage or upon. the Hate when
<br />i_?~3_s*~?~r~f,~Le is given to secure. before the same becomes de-
<br />~~irsc~.e~-Ltd ~n~~~? keep tkse improvements on such real estate insured
<br />„_ cYt~tir _nsora'~tce is applicable and shall not permit or carr~zsit any
<br />,;as~~~~ o*_-~ sus~h real. property., then these presents to be void,
<br />c:~t~hex;,.~i~e to be ixt full. f«~rce and effect,
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