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<br />84-
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<br />004340
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<br />SECOND REAL ESTATE MORTGAGE
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<br />THIS MORTGAGE is entered into between GARY L. SCHACHT and
<br />BARBARA SCHACHT, husband and wife, each in his and her own
<br />right, and as spouse of the other, hereinafter referred to as
<br />"Mortgagor" and CLIFFORDL, KATHOL andPAMELAS. KATHOL, husband
<br />and wife! herein referred to as "Mortgagee.11
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<br />Mortgagor is indebted to Mortgagee in the principal sum
<br />of Twent,y-Five Thousand Dollars ($25,000.00), evidenced by
<br />Mortgagors' Note dated the ",",(Y" day of August, 1984, providing
<br />for payment of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on December 15,
<br />2000.
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<br />To secure the payment of the Note, with interest as provided
<br />therein, the payment of all other sums, with interest, advanced
<br />by Mortgagee to protect the security of this Hortgage, and the
<br />performance of the covenants and agreements of the Mortgagor
<br />contained herein. !'lortgagor does hereby grant a second mortgage
<br />and convey to Mortgagee the follmving-described property located
<br />in flaIl County, Nebraska:
<br />
<br />Lot Five {51. ',~est Spelts-Schultz Addition to the
<br />Cit'.' of (;rand Island, Hall Couney, Nebraska.
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<br />together w.lth all lmprovements, fixtures, easements, rights privi-
<br />leges and appurtenances located thereon or in any way pertaining
<br />thereto, and the rent.s, issues and Drofits, reversions and remain-
<br />{lers thereof; Includinq~ but not li~itcd te, heating and cooling
<br />t'qulpment ilnd ~;t~ct~ personal ~~tS attached to the improve-
<br />ments so ,),5 tc con:.;tltutc d ixture; all of which, including
<br />rcplacemeflts Jnd additions thereto, is hereby declared to be a
<br />~)r1xt ,',. the re,'il estate secur;"::.:d by the lien of this mortgage
<br />a.no ~1.11 of t.t:e fc-~rE'q;)ttH; b(~l,nq rererr"ed to here-in as the "property".
<br />
<br />:~1UHTC;\(;( ,r, ~~t;;:(T:fEk
<br />~.'U; LU\\'S:
<br />
<br />lVL::.;AN"L'S i\:~D !\C;HECS ~ITH r"10RrrGAGEES AS
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<br />fa pay Lhe _inLh.~btedness and the interest thereon
<br />l~ Moctq~ye ~nd the Mortgage Note.
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<br />~()r't~;dl;(,r is the owner af the property, has the
<br />r 1 "-.;ht dn,j ['1 t: Y ~:.() i:l0r"tqaqe the i-\rOr,erty, and warrants that
<br />the- 11 en ,,:,'l>..?dt.t:,.j j'"\t:~rt:~by is '::1 vallO. second mortgage 1 ien on the
<br />~}:coFt:! r t y .
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<br />I'o [cay when due ill 1 taxes, specia 1
<br />agalnst the property and, upon
<br />~ortg~y~~, to add to the ~ayments required under
<br />~ert..'b::-.' r such dfHount. as ;';lay be sufficient to onable
<br />!-,:dj.'- sue!, taxes, ,)sse$sments ()l- other charges as
<br />
<br />\.}r 1 t t t-~n {.It;mdnd by
<br />t.ne ~';Gte se'-.~urt..~J
<br />t.he ~.tort'::fayee t.o
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