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_~ $4 -- 0.012 ~. PURCHASE MONEY REAL ESTATE MORTGAGE THE BOAT HOUSE, INC. a Nebraska corporation, Mortgagor, in cones sideration of EIGHTY-TWO THOUSAND FIVE HtlNDRED DOLLARS ($$2,500..00). received from Mortgagee, mortgages to CAR{3LIN1A A; HANFELT, a single- woman, Mortgagee, the following described real estate situated in Ha11 County, Nebraska: A tract of land in the Northwest Quarter of the Southeast Quarter (NW1~ SE#) of Section Twenty-Four (24), in Townehip Eleven {11) North, Range Ten (10) West of the 6th P.M: and mare gartiaularly described as followsc Beginning at a point on the North right-of-way line of the Union Pacific Railroad Company, said point being located 73.0 feet northeasterly from the intersection of said North right-of-way line and the North-South one--half section Iine through said Section Twenty~FOUr (241; running thence North parallel with the said North-South one-half section line a distance of 223.0 feet; running thence north- easterly para31e1 with the said North right-of-way of the Union Pacific Railroad Company, a distance of 63 feet to the actual point of beginning; running thence northeasterly parallel with the North right-of-way line of the Union Pacific Railroad Company a distance of 200 feet; running thence southeasterly a distance of 200 feet to a point an the North right-af-way line of said Railroad Company; thence southwesterly along and upon the said North right-of-way line of said Railroad Company a distance of 200 feet; running thence northwesterly a distance of 200 feet to the actual point of beginning. This Purchase Money Real Estate Mortgage is given to secure the pay- ment of the principal sum of Eighty-Two thousand Fiue Hundred Dollars (S8?,540.40) and interest from March 1, 1984, at eleven (2i) percent per annum, the principal and interest payable in monthly installments of 51,236.44 per month on the 1st day of each month commencing April 1, 1481,. and an the 1st day of each month thereafter for 119 cisnsecutive months, repayment of the principal and interest being amortized over a 1Q-year or 120-month period. The Promissory Note provides that time is of the essence of the Promissory Note, and if Maker fails far a period. of more than thirty (30} days to pay any monthly installment payment when due, the holder of the Promissory Note is given the option to declare the Nate immediately due and payable without notice or demand. fihe Promissory Nate provides if Mortgagor defaults in payment of any monthly installment payment when due, th€: unpaid mantY:iy installment of principal bears interest at the highest legal rate until paid. Mortgagor agrees to insure the .improvements an the real estate far a dollar amount at least equal to the unpaid balance due and payable an the Promissory Note which this Mortgage. secures, protecting the improvements from fire and other insurable physical damage hazaxds, lass (if any) payable to Mortgagee and Mortgagor, as their interests appear. Mortgagor is to furnish Mortgagee with a certificate of insurance evidencing the insurance an the improvements.