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<br />83- 0053a4
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<br />MORTGAGE
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<br />This Mortgage made this 30thday of September , 1983, between
<br />James E. Keeshan and Mary Ann Keeshan, husband and wife, of Grand
<br />Island, Hall County, Nebraska, hereinafter called "Mortgagor", and
<br />The Albion, National Bank, hereinafter called "Mortgagee".
<br />
<br />This mortgage is given to secure:
<br />
<br />a. A Business Operational Note, #105745, in the original principal
<br />amount of Fifty-eight Thousand Seven Hundred eighty-three and 80/100
<br />Dollars ($58,783.80); payable with interest according to the terms of
<br />said note and any instruments taken in refinancing, extending or
<br />renewing said indebtedness or any part thereof; and
<br />
<br />b. Any future advances with interest which may be made from time
<br />to time by Mortgagee, at its option, to Mortgagors, or any of them or
<br />their successors in title, for any purpose in any amount or amounts,
<br />provided however, that such future and additional advances shall be so
<br />limited that the total principal amounts outstanding at anyone time
<br />shall not exceed the sum of $58,783.80 , and provided further,
<br />the future advances so made shall be payable in accordance with the
<br />terms of a promissory note or notes which may be taken to evidence
<br />such advances or any part thereof. (The optional advances herein
<br />authorized shall be considered additional to the advances hereinafter
<br />authorized to be made by the Mortgagee for the protection of the
<br />security or Mortgagee's interest therein.)
<br />
<br />The advance of the principal sums recited in the note above
<br />described, and in consideration of future advances made by Mortgagee
<br />to Mortgagors or any of them as above provided, Mortgagor, jointly and
<br />severally, if more than one, hereby mortgages to Mortgagee the fol-
<br />lowing described real property situated in the County of Hall, State
<br />of Nebraska, and described as follows:
<br />
<br />Lot Thirty-four (34), Western Heights' Third Subdivision,
<br />Hall County, Nebraska
<br />
<br />SUbject to:
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<br />(1) A first Mortgage in favor of Security Federal Savings and
<br />Loan Association of Schuyler, Nebraska, dated Augu~t 8, 1980, and
<br />filed in the office of the Register of Deeds of Hall County,
<br />Nebraska, August 11, 1980 as Instrument No. 80-004174;
<br />
<br />(2) A Mortgage in favor of The Albion National Bank, filed
<br />October 7, 1980 in the office of the ReCfister of Deeds of Hall
<br />County, Nebraska, as Instrument No. 80-005615.
<br />
<br />Together with all rents, easements, appurtenances, hereditaments, in-
<br />terests in adjoining roads, streets and alleys, improvements and
<br />buildings of any kind situated thereon and all personal property that
<br />may integrally belong to or hereafter become an integral part of such
<br />buildings and improvements, all crops raised thereon and all water
<br />rights benefiting or appurtenant to such real property (collectively
<br />"the Property").
<br />
<br />Mortgagor covenants with Mortgagee and its successors in interest
<br />that (I) Mortgagor holds title to the Property in fee simple and has
<br />lawful authority to mortgage the same, (II) the Property is free of
<br />liens and encumbrances except as stated above, and (III) Mortgagor
<br />will defend the Property against the lawful claims of any person or
<br />entity.
<br />
<br />l
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<br />1. PAYMENTS. Mortgagor shall promptly make all payments re-
<br />quired under the Note and any other instrument securing the Note.
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