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84- 00145Z PURCHASE MONEY REAL ESTATE MORTGAGE VOGEL ENTERPRISES LTD., an Iowa corporation, Mortgagor, in considera- tion of ONE HUNDRED FIVE THOUSAND DOLLARS ($10'5,0'0'0'.0'0') received from Mortgagee, mortgages to EVA F. WEBB, a widow, Mortgagee, the following described real estate situated in Hall County, Nebraska: The easterly Sixteen (16) Feet of Lot Five (5), all of Lot Six (6) and the westerly Thirty-Four (34) Feet of Lot Seven (7), all in Block Sixty-Two (62), in the Original Town, now City, of Grand Island, Hall County, Nebraska. This Purchase Money Real Estate Mortgage is given to secure th~ paY~ ment of the principal sum of One Hundred Five Thousand Dollars ($la5,~aOO.OO') and ~nterest from March I, 1984, at ten (10') percent per annUllt, thej;>r:J:,nci;;;' pal and interest payable in monthly installments of $1,387.S8 per month on the 1st day of each month commencing April I, 1984, and on the 1st dllN'...of each month thereafter for 119 consecutive months, repayment of the Brincipal and interest being amortized over a la-year or 120-month Period, wi;tlt.a balloon payment of $30,0'70'.60' being due and payable with the 96th monthly installment of principal and interest, but if Mortgagee dies orbE!eom~s disabled or seriously ill on or after the time for payment of the: 72nd monthly installment payment of principal and interest, a ball()omp~~.nt of the balance due on pr~ncipal, pI us accrued interest, becomes i.JnlllE!:diately due and payable upon notice in writing delivered to Mortgagor of the death, disability or serious Illness of t'lortgagee, to be paid within six.ty (60) days after rece~pt of the notice by Mortgagor, as provided in a Promissory Note dated March I, 1984 t for which this Mortgage is given a.s security, The ?romissory Note provides that time is of the essence of the Prom~ssory Note, and if Maker fails for a period of more than thirty (0) days to pay any monthly ~nstallment payment when due, the holder of the Promlssory Note is given the option to declare the Note immediately due and payable wi thout notice or demand. The l?romissoryNote pro:vides>ijl Mortgagor defaults in payment of any monthly installment payment when due, the unpa~d lOOnthly lnstallment of principal bears interest at the highest legal rate until paid. Mortgagor agrees to .lnsure the improvements on the real estate for a dollar amount at least equal to the unpaid balance due and payable on the promissory Note which this Mortgage secures, protecting the improvements from fire and other insurable physical damage hazards, loss (if any) payable to Mortgagee and Mortgagor, as their interests appear. Mort~agor is to furnish Mortgagee with a certificate of insurance evidencing the insurance on the improvements. Mortgagor agrees to pay all taxes and assessments upon the real estate and all other taxes, levies and assessments levied upon this Mortgage and the promissory Note which this Mortgage is given to secure before payment is delinquent. If Mortgagor fails to pay the taxes and assessments before delinquent or fails to insure the improvements on the real estate as required by this Mortgage, ~~rtgagee may pay the taxes and assessments or other liens, obtain and pay premiums for the insurance on the improvements on the real estate, and are given a lien secured by this Mortgage for the amounts advanced with interest at the highest legal rate. u L -l L