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<br />83--0 U 4 341
<br />
<br />MORTGAGE
<br />
<br />This Mortgage is entered into between Thomas A. Emerton
<br />and seanne L. Elftl!io"ton, husband and wife
<br />(herein mortgagor) and The State Bank of Cairo, A Nebraska
<br />BalikingCorpOI"'at.ion (herein ffiClrtgagee).
<br />MClrtgagor is indebted to Mortgagee in the principal sum
<br />of SbO~OOO.oo, evidenced by Mortgagors' note dated August 8.
<br />1983 (here:in Note) providing for payments of principal and
<br />interest, with the balance of the indebtedness, if not sooner
<br />paid, due and payable on Decemb~ 31,1983.
<br />To secure the payment of the Note, with interest as
<br />provided therein, the payment of all other sums, with
<br />lnterest advanced by Mortgagee to protect the security of
<br />this Mortgage, and the performance of the covenants and
<br />agr~~ents of the Mortagagor contained herein, Mortgagor does
<br />hereby mortgage and convey to Mortgagee the following
<br />property located in Hall County, Nebraska.
<br />
<br />A tract of land located in the South~t Quarter- (SW 1/2) 0'"
<br />Section Thirty (30), Township T_l ve (i2) North, Range Eleven
<br />(11) West: of te 6th Principal I'leridan, Hall County. Nebraska,
<br />_e particularly d_cribed as follows:
<br />
<br />Beginning at: t.he Southeast: corner of the SW 1/4 of said
<br />Section 30; thence Northerly along t.he East line of said SW
<br />1/4 on an aS5uaed bearing of N 00 degrees 00' 00" E a
<br />distance of 1648.59 feet' thence Westerly bearing N B9
<br />degrees 54' 17" W a distance of 313.07 feet; thence Southerly
<br />bearing S 00 degrees 06' 06" Wadi stance of 1154.37 feet;
<br />t.hence Westerly bearing N B9 degrees 24' 57" W a distance of
<br />404.04 f_tt thence South_sterly be.ring S 30 degrees 31"
<br />53- W a distance of 262.30 f_t; thence Southerly bearing S 2
<br />degrees 06' 14- W a distance of 269.66 feet to a point on t.he
<br />South line of said SN 1/4, t.hence Easterly along the South
<br />line of said SW 1/4; bearing S 89 degrees 46' 15" a distance
<br />of 862.30 feet t.o the point. of beQinning, said tract
<br />containing 17.69 acr_ more or l_s, the Sout~ly 33 f_t of
<br />which being Hall Count 1 y road righ1:-of-_y.
<br />
<br />ToqethE;~ WIth all bUildings. lmp,.ovements. flNtLwes,
<br />streets, alleys, passageways, easements, rights. prlv'lleges
<br />and appurtenances located theYE'on or' In 6.nywlse pertalnlng
<br />theyeto, and the ,'ents, issues and proflt'S, reversions and
<br />re,T'cunuEns t,heyeuf, ,,,,II of ....hiCh. lPcluding replacements and
<br />adclitH:;ns theretrJ, is hereby decl..,'ed to be a Piiwt of the
<br />re..l estdte secw.ed by the lU5!'n 0-1 thls Mortgage and all of
<br />the for'egolng benny reier-red to tlereln ,",.. the "Property".
<br />
<br />Mortgagor further convenants and ...greli1s with Mortgagee,
<br />,;\5 ,follows:
<br />
<br />1. Payment. To pay the indebtedness and the interest
<br />theweon as provided ln HilS Mortgage and the Note.
<br />
<br />2. Mortgagor is the owner of the Propertv, hias the
<br />right and authority to mortgiage the Property, and warrants
<br />that the lien eneClted hereby 1& a flrst and prlor IH;>n on the
<br />Property.
<br />
<br />3. To pay when due all taxes. speelal assessments and
<br />all other c::h.arges against. the Propli1y'ty and. upon wr1 tten
<br />demand by MortgageE>. to add to thE> pa.yment required under the
<br />Note secured hereby" such ..mount as m...y be sufficient to
<br />en..ble the Mortgagee to pa)<' such ta;-;es, assessments or othiO!t'
<br />charges as they become due.
<br />
<br />4. In the event the Property, 0" arw part: thel"'eo:f'jI,,(
<br />lOhall be taken by eminent domain, the Mortgagee is E'1llpowerEl'd
<br />to c:ollec.t ..hd n~c.eive all compensation which may be p"ud for
<br />any property taken or ft.w da.mages to proper'ty not ti1.ken, and
<br />Mortg..~_ sh<ltll Apply such compenllh1.l.ti or> , at ltlO> aptIon,
<br />el th..r tu liI rlltduc ti on of the. i r>debtlli>dnlil'ss seCLlre(j hen?!:!.,.. or
<br />to r ep<<i r ""'d r e'lltpr- l!; the propert i !so dam.,,,;!,,,,:!.
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