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r 83-001001 OPEN END MORTGAGE DEED AND ASSIGNMENT OF RENTS r KNOW ALL MEN BY THESE PRESENTS: That R, Dean Stogdill and Patricia Lynne Stodgill, of the County of Gage, and the State of Nebraska, Mortgagors, and The Martell State Bank of Martell, Lancaster County, Nebraska, Mortgagee, WITNESSETH: The mortgagor, in. consideration of the sum of Twenty Thousand and 00/100 DOLLARS ($20,000.00) in hand committed and any and all sums advanced at the option of the parties herein, does hereby grant, bargain, sell, convey and confirm to mortgagee, and to its successors and assigns, the following described real estate in the County of Lancaster and State of Nebraska, to-wit: Lot Ten (10) in Block Forty-One (41) of Charles Wasner's Second Addition to the City of Grand Island, Hall County; Nebraska, a/k/a 616 South Madison, Grand Island"Nebraska 68801 TO HAVE'AND TO HOLD the same, with the ~ppurtenances thereunto belonging or in anywise appertaining, including any right of homestead and every contingent right or estate herein, unto mortgagee, its successors or assigns, forever; the intention being to convey and absolute title in fee to said premises. Mortgagor hereby covenants that mortgagor is lawfully seized of said premises and has good right to convey the same; that said premises are free and clear of all encumbrances; and that mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever, PROVIDED, HOWEVER, that if mortgagor shall pay, or cause to be paid to mortgagee, the principal sum of Twenty Thousand DOLLARS ($20,000.00) this day borrowed of mortgagee including all such future advances made at the option of the parties herein, with interest thereon at the rate of Sixteen percent (16%) per annum from the date hereof or from the date of said advancement, whichever is later all in accordance with the tenor and effect of a certain promissory note dated February 25, 1983, executed by mortgagor and all in accordance with subsequent promissory notes executed in accordance with this mortgage and payable to the order of The Martell State Bank, payable at The Martell State Bank, Martell, Nebraska, whereby the entire principal sum and interest shall be fully paid, and shall further pay interest at the rate of Sixteen percent (16%) per annum from maturity on any installment of principal or interest which shall not have