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<br />83-fW5413
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<br />REAL ESTATE MORTGAGE
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<br />KNOW ALL MEN BY THESE PRESENTS: That Roger M. Arthur and Marie D. Arthur,
<br />husband and wife, as tenants in common, hereinafter referred to as Mortgagors, whether
<br />one or more, in consideration of the previous loans given by the Sherman County Bank
<br />in the principal sum of $155,000.00 and as additional security for these loans, does
<br />hereby sell and convey unto the Sherman County Bank, a Nebraska Corporation, of Loup
<br />City, Sherman County, Nebraska, the following described premises situated in Hall
<br />County, Nebraska, to-wit:
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<br />Lots One Hundred Sixty-Seven (167) and One Hundred Sixty-Eight (168)
<br />in West Lawn, in the City of Grand Island, Hall County, Nebraska.
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<br />The intention being to convey hereby an absolute title in fee simple, provided, however,
<br />that this Real Estate Mortgage is subject to a Real Estate Mortgage given by the
<br />Mortgagors to Grand Island Trust Company of Grand Island, Nebraska, in the principal
<br />sum of $75,000.00 which mortgage was dated November 17, 1978 and recorded as Document
<br />#78-007570 in the Register of Deeds Office of Hall County, Nebraska. Also subject to
<br />a Real Estate Mortgage given by the Mortgagors to Grand Island Trust Company of Grand
<br />Island, Nebraska, in the principal sum of $6,220.00 which mortgage was dated February 6,
<br />1980 and recorded as Document v80-000650 in the Register of Deeds Office of Hall County,
<br />Nebraska. Also subject to a Real Estate Mortgage given by the Mortgagors to Grand Island
<br />Trust Company of Grand Island, Nebraska, in the principal sum of $6,020.00 which mortgage
<br />was dated May 21, 1980 and recorded as Document #80-002315 in the Register of Deeds
<br />Office of Hall County, Nebr~ska.
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<br />TO HAVE AND TO HOLLJ the premises above described with all the appurtenances
<br />thereunto belonging unto the said Roger M. Arthur and Marie D. Arthur, husband and
<br />wife, as tenants in counnon, and to the i r successors and ass igns forever, provided
<br />always, and these presents are upon the express c.ondition that if the said Roger N.
<br />Arthul- dnd Mar ie D. Arthur shall payor cause to be paid to the said Sherman County
<br />Bank, Mortgagee, its successors or assigns, the sum of One Hundred Fifty-Five Thousand
<br />and no/lOOths Dollars ($155,000.00), together with all interest due according to the
<br />tenor in effect of all the promissory notes signed by the Hortgagors and given to the
<br />Mortgagees prior to this date which are still in existence.
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<br />This mortgage shall be void and the Hortgagee entitled to release in recordable form
<br />upon the payment of the Notes including any accrued interest, and all other payments
<br />made by the Mortgagor and secured by this Hortgage.
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<br />TAXES. Nortgagor shall PdY each installment of all taxes and special
<br />assessments of every kind now or hereafter lev ied and assessed agains t the property
<br />or any part thereof, before the same becomes del inquent and Nithout notice or demand,
<br />and shall prov ide Mor tgagee with ev idence of tbe payment of the same.
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<br />PREPAYMENT. Mortgagors shall have the right to pay any amount at any time
<br />without penalty.
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<br />DEFAULT. If there is a failUl'e to apply any of said money, either principal
<br />or interest when the same become due, or a failure to comply with any of the foregoing
<br />agreements, this shall cause the whole sum of money herein secured to become due and
<br />collectible at Once at the option of the mortgagee.
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