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<br />,~-°- i#U035~
<br />REAL ESTATE PSORTGAGE
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<br />;_;,,_._.. _ GE?UTY
<br />KNOW ALL MEN BY `THESE PRESENTS: That Roger M. Arthur and Aiarie D. Arthur,
<br />husbanck 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 $378,256.53 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 deSCr2bed premises situated in Hall Gounty,
<br />Nebraska, to-wiz:
<br />Lots One Hundred Sixty-seven (167) and Ore Hundred Sixty-eight (168)
<br />in West Lawn, in the City of Grand 'Island, Hall Gounty, Nebraska.
<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 sum
<br />of $75,000.04 which mortgage was dated November 17, 1978 and recorded as Bocument lt78-
<br />p0757O in the Register of Deeds Cffice of Ha11 County, Nebraska. Also subject to a
<br />Real Estate Mortgage given by the Mortgagors to Grand Island Trust Company o€ Grand
<br />Island, Nebraska in the principal sum of $6,220.00 which mortgage was dated February 6,
<br />1980 and recorded as Document ?f80-000650 in the Register of Beeds Office of Hail County,
<br />Nebraska-. Also subject to a Real Estate Mortgage given by the Mortgagors to Grand Island
<br />Trust Company of Grand Island, Nebraska i.n the principal sum of $6,020.00 which mortgage
<br />was dated May 2I, 19$0 and recorded as Document +~80--00?.315 in the Register of Beeds
<br />Office of Hall County, Nebraska.
<br />TO HAVE ANB TO HOLE the premises ahove described with ail the appurtenances
<br />thereunto helonging unto the said Roger M. .~+rthur and :Marie D. Arthur, husband and
<br />wife, as tenants is common, and [o their successors and assigns forever, provided
<br />alyays, and these prese:sts are upon *_he express condition that if the said Roger A1.
<br />Arthur and Marie B, Arthur shall pay or cause to be paid to the said Sherman County
<br />Bank, Mortgagee, its successors or assigns, the sum of Three Hundred Seventy-eight
<br />Thousand Two Hundred Fifty-sir. and 53i100ths Dollars (5378,256.53}, together with all
<br />interest due according to the tenor and effect of all the promissory notes signed by
<br />the Mortgagors and given to the Mortgagees prior to this date which are still in
<br />existence, ,
<br />This mortgage shall be void and the Mortgagee entitled ea release in recordable form
<br />upon the payment of the Notes including any accrued interest, and all other payments
<br />made lay the Mortgagor and secured by this Mortgage.
<br />TAXES. Mortgagor shall. pay each installment of all taxes and special
<br />assessments of every kind now or hereafter Levied and assessed against [he property
<br />or any part thereof, before the same becomes delinquent and without notice ar demand,
<br />and shall provide Mortgagee with evidence of the payment of the same.
<br />PREPAY'3ENT. Mortgagors shall 4zave the right to pay nay amount at any time
<br />without penalty.
<br />B~E'AIFLT, If Chere is a failure to apply any of said moxaey, either principal
<br />or interest whey 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 />co1}:ectible; at once at the option of the mortgagee.
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