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<br />83- 004456
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<br />RAYMOND C. ENGEL and MI1.DRED L. ENGEL, husband and wife, Mortgagqrs,
<br />in consideration of FORTY-FOUR THOOSAND EIGHT HONORED DOLLARS ($44,~OO.OOl,
<br />mortgage to THOMAS WILLIAM HARRIS and JANE fiARRIS, husband ana wife, as
<br />joint tenants and not as tenants in common, Mortgagees, the following
<br />described real estate situated in Hall County, Nebraska:
<br />
<br />PURCHASE MONEY REAL ESTATE MORTGAGE
<br />
<br />An undivided one-third (1/3) interest in the Northeast Quarter
<br />(NE\) of Sec.tion Ten (10), Township Nine (9) North, Range Nine
<br />(9) West of the 6th P.M. in Hall County, Nebraska,
<br />
<br />subject to covenants, conditions, restrictions, reservations, easements
<br />of record, visible easements and zoning codes, laws and regulations.
<br />
<br />This Purchase Money Real Estate Mortgage is given to secure payment
<br />of the principal sum of $44,800.00 and interest from September 1, 1983,
<br />at nine (9) percent per annum, payable according to the terms of a Purchase
<br />Money Promissory Note dated September 1, 1983, in seven (7) annual consecu~
<br />tive installments of $6,400.00 each, commencing September 1, 1984, plus
<br />interest on the unpaid balance of principal payable annually with each
<br />annual installment of principal, and on September 1 of each year thereafter
<br />for eight (8) consecutive years until the final annual installment is
<br />paid on September 1, 1990, together with interest on the unpaid balance
<br />of principal.
<br />
<br />The Purchase Money Promissory Note provides time is of the essence
<br />of the Purchase Money Promissory Note and, if default is made in the
<br />payment of any installment of principal or interest for more than one
<br />hundred twenty (120) days, the holder of the Purchase Money Promissory
<br />Note may, without notice or demand, declare the entire principal sum then
<br />unpaid, together with accrued interest, immediately due and payable.
<br />Upon default of payment of any installment, the unpaid balance of princi-
<br />pal bears interest at the highest legal rate.
<br />
<br />Mortgagors agree to pay all taxes and assessments upon the real
<br />estate and all other taxes, levies and assessments levied upon this
<br />Purchase Money Real Estate Mortgage and the Purchase Money Promissory
<br />Note which this Purchase Money Real Estate Mortgage is given to secure
<br />before payment is delinquent. If t.10rtgagors fail to pay the taxes or
<br />assessments before delinquent, Mortgagees may pay the taxes or assessments
<br />or other liens and are given a lien secured by this Purchase Money Real
<br />Estate Mortgage for the amounts advanced, with interest at the highest
<br />legal rate.
<br />
<br />Mortgagors have the right to prepay the unpaid principal of the
<br />Promissory Note by paying additional installments of principal on any
<br />annual installment payment date, without penalty, stopping interest on
<br />the amount prepaid, but without affecting the obligation to pay the
<br />remaining required annual payments of principal and interest on the
<br />unpaid balance when due.
<br />
<br />If Mortgagors default in payment of the indebtedness or any install-
<br />,c/iOOnt of Principal and interest for more than one hundred twenty (120)
<br />"'f'~ays, or fail to perform any of the other agreements in this Purchase
<br />';Money I\J;!~Estate Mortgage, Mortgagees, at Mortgagees I election, may
<br />!idecIJ'if&' the ent.ire debt secured by this Purchase Money Real Estate Mortgage
<br /><,q\.1e ,~(Lpayable at once, and foreclose this Purchase Money Real Estate
<br />;~or~a~Mlfor tl1.e satisfaction of the total amount due.
<br />
<br />tD't~: September 1, 1983.
<br />
<br />
<br />r;;" ;.; ,"J e
<br />(/ L'7r~....,...J( L' ,: __. <?d:./
<br />i (Rayroond C. ingel)
<br />
<br />'>..~~.-;..... ./
<br />,},'-~_-<: .".~,. ,...',-c.c.. ,\. {.r-")"'7i1- fj." {.
<br />(Mildred L. Eng'el)/'
<br />
<br />t
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<br />STATE OF NEBRASKA, COUNTY OF HALL:
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<br />. The foregoing instrument was acknowledged before me this
<br />h~~~;J'~;~ ~;'fe,- MQ;~~~~o~~.Raymond C. Engel and rUldren L. Engel,
<br />
<br />..... .....flo:U" _'0"
<br />~ t.,lAN$Sl1\l
<br />.,~ [11\ fib. 1. 1.
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<br />-.-.----Nota ri"UbIIi:'~-'"-~'------
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