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<br />I
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<br />MORTGAGE
<br />
<br />83- 00 4530
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<br />This mortgage made and entered into this
<br />19~, by and between John Preisendorf, Jr.
<br />
<br />26th
<br />
<br />day of
<br />
<br />August
<br />
<br />
<br />(hereinaFter reFerred to as mortgagor) and Commercial National Bank and Trust Company
<br />
<br />mortgagee), who maintains an office and place of business at 424 WeEt :}rd Street
<br />Hall County, Nebraska.
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<br />WtTNESSETH, that For the consideration hereinafter stated, receipt of which is hereby acknowledged, the mortgagor
<br />does hereby mortgage, sell, grant, assign, and convey unto the mortgagee, its successors and assigns, allof thefol~
<br />lowing described property situated and being in the County of Ha 11
<br />State of Nebraska.
<br />
<br />A tract of land comprISIng a part of the Northwest Quarter of the Northeast Quarter (NWtNEt)
<br />of Section Twenty-One (21), Township Eleven (11) North, Range Nine (9) West of the 6th P.M.
<br />in Hall County, Nebraska, more particularly described as follows:
<br />
<br />Beginning at the southwest corner of Block Fifteen (15) Windolph Addition to the City of
<br />Grand Island, Nebraska; thence southeasterly along the easterly line of Washington Street,
<br />a distance of One Hundred Forty-Five and Five Tenths (145.5) feet; to the northerly line
<br />of Oklahoma Avenue; thence northeasterly along said northerly line of Oklahoma Avenue, a
<br />distance of Two Hundred Sixty-Four (264.0) feet, to the westerly line of Lincoln Avenue;
<br />thence northwesterly along said westerly line of Lincoln Avenue, a distance of One Hundred
<br />Forty-Six (146.0) feet, to the southeast corner of said Block Fifteen (15) Windolph Addi-
<br />tion; thence westerly along the southerly line of said Block Fifteen (15), a distance of
<br />Two Hundred Sixty-Four (264.0) Feet to the place of beginning, said tract containing 0.883
<br />acres more or less.
<br />
<br />together with all the tenements and appurtenances thereto belonging. all the rents, issues and profits thereof, and all
<br />easements, rights, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and including
<br />all heating, plumbing, refrigeration, lighting, equipment and all fixtures of every description belonging to the
<br />mortgagor now or hereafter attached thereto or used in connection with the premises herein described and in addition
<br />thereto the following described properties which are and shall be deemed to be fixtures and a part of the realty, and
<br />are a portion of the security for the indebtedness herein 'tated. (If none, state "none") None
<br />
<br />To have and to hold the same unto the Mortgagee, as herein provided:
<br />
<br />The mortgagor is lawfully seized and possessed of and has the right to sell and convey said property; that the
<br />same is free from all encumbrances except as hereinabove recited; and that Mortgagor covenants to warrant and
<br />defend the title aforesaid thereto and every part thereof against the claims of all persons whomsoever.
<br />chisdiyslru~eyt is fiven t3 eecure the gerfonaf guarantee of John Preisendorf, Jr. of
<br />ran~~~~Je~~~k~>>~~~i: prg;lissgry note dated February 15, 1983
<br />in the principal sum of $ 179.784.36 , signed by John Preisendorf, Jr., President
<br />in behalf of Grand Island Irrigation & Const ruct ion. Inc. _~____
<br />
<br />also, as such note or notes may from time to time be modified, renewed or extended in writing.
<br />
<br />In the event the title to said real estate is transferred, or contracted to be transferred from the undersioned For anv
<br />reason or by any method whatsoever, the entire principal sum and accrued interest' shall at once bec;me due and
<br />payable at the election of the holder hereof. Failure to exercise this option because of transfer of title as above stated
<br />in one instance shall not constitute a waiver of the right to exercise the same in the event of any subsequent transfer.
<br />
<br />l. The mortgagor covenants and agrees as Follows:
<br />
<br />a. To promptly pay the indebtedness evidenced by said promissory note at the timcs and in the manner
<br />therein provided,
<br />
<br />b. To pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, '"
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the official rcceil'''
<br />thereFor to the said mortgagee,
<br />
<br />c. To pay such expenses and fees as may be incurred in the protection and maintenan(:c of said properI\.
<br />including the Fees of any attorney employed by the mortgagee for the collection of anv or all of the indebtcdne"
<br />hereby secured, or foreclosure by mortgagee's sale, 01 court proceedings, or in any lHhcl IitigatilHl l)l pn)('l'l'\.illl~
<br />affecting said property.
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