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I 83-001026 MORTGAGE This mortgage made and entered into this 23rd day of February 19~, by and between R & T Properties, and informal partnership of Rudolf F. Plate & Timothy C. Plate (hereinafter referred to as mortgagor) and Commercial National Bank and Trust Company mortgagee), who maintains an office and place of business at Hall County, Nebraska, 424 West 3rd (hereinafter referred to as street in Grand Island, WITNESSETH, that for the consideration hereinafter stated, receipt of which is hereby acknowledged, the mortgagor does hereby mortgage, sell, grant, assign, and convey unto the mortgagee, its successors and assigns, all of the fol- lowing described property situated and being in the County of Hall State of Nebraska, The North Twenty (20) Feet of Lot Fifty Three (53), and the South Fifty Two FeeE (52) of Lot Fifty Four (54), in Fonner View Subdivision, in the City of Grand Island, Hall County Nebraska also known as 1107 South Cherry Street, Grand Island, NE and; A tract of land comprising a part of the West Half of the N9rtheast Quarter (W~NE~) of Section Twenty Nine (29), Township Eleven (II) North, Range N1ne (9), West of the 6th P.M. and more particularly described as follows: Beginning at a point on the East Line or said West Half of the Northeast Quarter, said point being 1,753.7 Feet West and 1,321.5 Feet South of the Northeast Corner of said Section 29; thence running Westerly and parallel to the North line of said W~NE~ a distance of 837.5 Feet to a point on the Easterly right of way line of the St. Joseph Branch of the Union Pacific Railroad Company; thence running southerly along and upon said right of way line a distance of 607.3 Feet; thence turning at right angles and running Easterly a distance of 834.7 Feet; thence turning at right angles and running Northerly a distance of 609.55 Feet to the point of beginning; and Part of the Southwest Quarter of the Northeast Quarter (SW~~) of Section Twenty Nine (29) Township Eleven (II) North, Range Nine (9) West of the 6th P.M., more particularly described as follows: Beginning at a point on the East line of said SW\NE~; said point being 1,325.7 Feet West and 1,932.2 Feet South of the Northeast corner of said section 29; Thence running Westerly a distance of 1,262.7 Feet to a point on the Easterly line of the St. Joseph and Grand Island Railroad Company, said point being 1,928.8 Feet South of the North line of said Section 29; thence running Southerly along said right of way line a distance of 610.5 Feet; thence running Easterly a distance of 969.6 Feet to a point that is 290.4 Feet West of the East line of said SW~NE~ thence running Northerly and parallel to the East Line of said SW~NE~-a distance of 150.0 Feet; thence running Easterly a distance of 290.4 Feet to a point on the East line of said SW~E~; thence running North- erly along the East line of said SW~NE~, a distance of 461.17 Feet to the point of beginning and containing 16.69 acres, more or less together with all the tenements and appurtenances thereto belonging, all the rents, issues and profits thereof, and all easements, rights, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and including all heating, plumbing, refrigeration, lighting, equipment and all fixtures of every description belonging to the mortgagor now or hereafter attached thereto or used in connection with the premises herein described and in addition thereto the following described properties which are and shall be deemed to be fixtures and a part of the realty, and are a portion of the security for the indebtedness herein stated, (If none, state "none") To have and to hold the same unto the Mortgagee, as herein provided: The mortgagor is lawfully seized and possessed of and has the right to sell and convey said property: that the same is free from all encumbrances except as hereinabove recited; and that Mortgagor covenants to warrant and defend the title aforesaid thereto and every part thereof against the claims of all persons whomsoever. This instrument is given to secure the payment of a promissory note dated February 23, 1983 in the principal sum of $ 110,000.00 signed bv Rudolf F. Plate, Jeannice R. Plate, in behalf of R & T Properties ' , T:unothy C. Plate, ana lJeora lJ. Plate also, as such note or notes may from time to time be modified, renewed or extended In writing, In the event the title to said real estate is transferred, or contracted to be transferred, from the undersigned for any reason or by any method whatsoever, the entire principal 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 one instance shall not constitute a waiver of the right to exercise the same in the event of any subsequent transfer. I, The mortgagor covenants and agrees as follows; a, To promptly pay the indebtedness evidenced by said promissory note at the times and in the manner therein provided, .. , b, To pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, l'l Impositions, for which provision has 1I0t been made hereinbefore, and will promptlv deliver the official rt'C'eipb Iherefor 10 the said mortgaaee, ' , c,.To pay such expenses and fees as may be incurred in the protection and maintenance of said I",)pelt\, IDcludll18 the fees of any allorney employed by the mortgagee for the collC<:tion of an'. or all of the indebledn~" he~eb~ secu~ed~ or foredo5.ure by mon~agee's sale, 01 (ourt proceeding.... I,)f in any otl~l'l litig;,Hii)!l "1 pft.__~:t'I..'dill~ afleetlng said propelty_