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<br />~'` ~ `'''` `' MORTGAGE ~3~t-U537
<br />This mortgage made and entered-into this 28th day of January
<br />14 83 ; by-artd between
<br />K & L Motors, Inc.
<br />(het<einaffer referred-to as mortgagor}-and Commercial National Bank and Trust Company
<br />mortgagee}, who maintains an office and place of business at
<br />HaII County, Nebraska.
<br />424 West 3rd
<br />(hereinafter referred to as
<br />_ street in Grand Island,
<br />WITNESSETH; that for-the consideration hereinafter stated, receipt of which is hereby acknowledged, the mortgagor
<br />does $ereby mortgage; sell, grant, assign, and convey unto the mortgagee, its successors and assigns, all of the fol-
<br />iowing;describei! property situated and being in-the County of Hall
<br />State of Nebraska.
<br />Lot 'Pwelve (12), Jameson Subdivision, Hall County, Grand Island, Nebraska
<br />together with aU the tenements and appurtenances thereto belonging, all the rents, issues and profits thereof, and all
<br />easements, rights, royalties; mineral, oil and gas rights and profits, water, water rights, and water stock, and including
<br />alt heating, plumbing, refrigeration, lighting; equipment and all fixtures of every description belonging to the
<br />mortgagor naw or hereafter attached thereto or used in connection with the premises herein described and in addition
<br />thereto the fo8awing described properties which are and shall be deemed to be Fixtures and a part of the realty, and
<br />are a pottion of the security for the indebtedness herein stated. (tf none, state "none"} None
<br />To have and to hold the same unto the Mortgagee, as herein provided:
<br />The. mortgagors lawfully seized and possessed of and has the right to sell and convey said property; that the
<br />same. is free from alt-encumbrances except as hereinabove recited; and that Mortgagor covenants to warrant and
<br />defend the title aforesaid thereto and every part thereof against the claims of all persons whomsoever.
<br />-This instrument is given to secure the payment of a promissory note dated Januarv 28r 1983
<br />in the principal sum of 5 43,000.00 ,signed by Donald E. Kaelin II
<br />in behalf of K & L Motors Inc .
<br />also, as such note•ar_notts may from time to lima be modified, renewed or extended in writing.
<br />In the-event the title to said real estate is transferred, ar contracted to be transferred, from the undersigned for any
<br />reason of by any rttethad wbatsoover, the entire principal sum and accrued interest shalt at once become due and
<br />pgyable at the election of the-holder hereof. failure to exercise this option because of transfer of title as above stated
<br />in cute instance shall not catsstitute a waiver of the right to exercise the same in the event of any subsequent tratsfer.
<br />t,- The mortga~r coxenat-ta and agrees as faliows;
<br />a, Ta'promptly Irrty the indebtcdnrtss: tvideocod by said promissory note at the times and in the manner
<br />therein provided:
<br />. b.-To pa}' all taxes, assescttttnts, wttter rates. and other governmental or municipal charges. fines. or
<br />tpppsitlonc, for which prnvis~t has tttst been tnade hereinbefore, artd will pramptly deliver the official receipts
<br />the~far ttt Elsa said mortme.
<br />c, Tts pay h each-and fees as may be incurred-in the protection artd mainttnaace of said property.
<br />ituIttt~ the fees nF any arty etnplayea#;by the martgagae for tha collection of any or an of the indebtecfttess
<br />htsP+tb}' ~rietl, ax ('~eclosure by mortgagee`s sale, or :°ourt prtedings, or in any other lttigatiart or prtxecding
<br />affe~tittg said prcrrtrrty.
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