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~ _. . s3-ooo7~~ MQRTGAGE This mortgage made'and entered-into this 15th day of February '79__$3_, by-andbetween< 3ahn Preisendorf and Marilyn Preisendorf,- husband and wife (hereinafter ieferied to as'mortgagor7 and Commercial National Bank and Trust Company (hereinafter referred to as niaiYgagee}, who maintains art office and pleat of business at 424 West Third street in Grand Island, Hall County,. Nebraska. tVt'i'NESS~1'H' that for`the consideration hereinafter stated, receipt of which is hereby acknowledged, the mortgagor does Hereby mort$aBe, sell; great, assign, and convey unto the mortgagee, its successors and assigns, all of the fol- lowing ctescribed'propertg situated and' being in the County of Ha11 State of Nebraska. Vi11a No. 9 in Fairway Villas Condominium Property Regina II. together with at! the tenements and appurtenances thereto belonging, all the rents, issues and profits thereof, and alt easements, rights, royalties, mineral, oil and gas rights and proGu, water, water rights, and water stock, and including ail heating, plumbing, refrigeration, lighting, equipment and all fixtures of every description belonging to the mortgagor now oe hereafter attached thereto or used in connection with the premises herein described and in addition thereto the following described properties which art and shall be deemed to be fixtures and a part of the realty, and are a portion of-the set9trity for the indebtedness herein stated. (If none, state "none") None To have and to hall the same unto the Mortgagee, as herein provided: The-mortgagor is lawfully sized and possessed of and has the right to sell and convey said property; that the saint is free from all eneumbrances except as hereinabove recited; and that Mortgagor covenants to warrant and defend the title aforesaid theteta and every part thereof against the claims of all persons whomsoever. 'ibis- instn~ertt is given tD secure the pezsonal guarantee of Jou~trt Preisetziarf of Grand ~ issory note dated Febrtaars 15. 1983 in the principal siim.of S 2~.7~29g-3St ,signed by John Preisendorf f_g~viPnt in behalf of r=tarot Ittiand Irriaatian 5 Gonatructian. Inc. also, as such cote or poles mug from. time to time be modified, renewed or extended in writing. In-the avast the title to said real estatt is transferred, or contracted to be transferred, from the undersigned for any reason or_by -any method whatsoever, the entire priaeipal sum and accrued interest shall at once become due and payable at-the election: of the holder hereof. Failure to exercise this option because of transfer of title as above stated in ate insiattcc shall npt constitute a waiver of the-right to exercise the same in the event of any subsequent transfer. The coeepapu and agrees as follows; a. To prnat~-t~ps~ ttit- Iradebttdtteess evidtntsd by said promissory note at the times and in the manner therein provided: b=- To ptsy, aIt taxesa assessttsapts, water rates, and athtr governmental or munic[pal charges, fines, or itlsitiant,r-fo~C whic~prcvuinn has not bran math h~cinbefost, and will promptly detivtr the oft'icial receipts th!ta~sfo~ to the said ep~s;ga~tc, e. 'f'a paty stu.€t expttt artd ftcs as may be ineurred in the protection and maintenance of said prapeet3. incttrt~ the Errs of xtiy tttigt'~y ernpk''ytti by tfie mottgagte for the caller€iqn of any ar all of the indebtedness ttttebgsceurcd. or foreclosure by mortgagee's tale. or cgtin proceedings, or in any orlon litigation or pc~xeediug xftrcUngsaid ptapC7t}.