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r .1 ~~ REAL PROPERTY MORTGAGE $4 ~-- 1)00615 Larry J. Knuth and Karen L. Knuth, husband and wife, herein called the mortgagor whether one or more, in consideration of pNF xttNnnFn mRN THOUSAND ANO NO/DOLLARS---------------------------- ($ 110;000:00 ) paid by Mortgagor, the receipt of which is hereby aclwowledged, and as securlty for future advances that may be made from time to time as consideration for this mortgage, does mortgage to The First National Bank. of Grand Island, Grand Island, Nebraska: THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER (NW'-ENE3t) OF SECTION TWELVE (12), IN TOWNSHIP TEN (10), NORTH, RANGE TEN, WEST OF THE SIXTH (6th} P.M., IN HALL COUNTY, NEBRASKA And the mortgagor does hereby convenant with the mortgagee and with mortgagee's heirs and assigns that mortgagor is lawfully seised of said premises, that they are free from encumbrance, that mortgagor has good right and lawful authority to convey the same, and that mortgagor warrants and will defend the title to said premises against the lawful claims of all persons whomsoever. i'his mortgage is given to secure the payment of the promissory note of this date made by mortgagor and this mortgage is also given as security to mortgagee for all indebtedness that may in the future be incurred by mortgagor to mortgagee, and such future indebtedness shall hear interest from date of accrual at the rate as provided in the note executed on that date and secured by this mortgage, and shall be payable to mortgagee at the same place designated in the note. A11 such future indebtedness shall be deemed a part of the indebtedness secured by this mortgage, and shall be recoverable as such. Mortgagor shall pay all taxes and assessments levied upon said real property and all other taxes levied on this mortgage ar the note which this mortgage is-given to secure before the same become delinquent. If mortgagor fails to pay such taxes and assessments, mortgagee may pay such taxes and the amount so advanced with interest at fourteen percent per annum shall be secured by this mortgage. In case of default in the Payment of the principal sum or any installment thereof or of any interest thereon when the same shall become due or in case of the non-payment of any taxes or assessments, mortgagee may at the option of mortgagee, without notice, at any time during the continuance of such default or breach, declare the whole debt secured by this mortgage to be immediately due and payable and may foreclose this mortgage. Zn the event of default in the performance of any of the terms and conditions of this mortgage or the note or notes secured by it, the mortgagee shall be entitled to iimnediate possession of the property above described and all the rents, revenue and income derived therefrom during such time as the mortgage indebtedness remains unpaid shall be applied by the mortgagee to the payment of the note and all other sums secured hereby after deduction of any necessary costs of collection. Dated this lst day of February, 1984 lf~?~ . ~~~~~~ r _-jb z- LaIrY J.f(Kltut Karen L. Knuth STATE OF NEBRASKA) } ss. COUNTY OF }TALL ) The fori~ng instrument was day of February, 1.484, by Larry J.