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<br />REAL ESTATE M~~TGAGE
<br />FtNOw ALL 1fEN BY THESE PRESSNNTS:
<br />That Manchik & Associates, a Partnership, organized and existing under the
<br />lays of the State of Nebraska, having its principal office in Grand Island, Hall
<br />Gounty, Nebraska, in consideration of the sum of SEVEN HUNDRED FIFTY THOUSA.*ID AND
<br />NpjlOO DOLLARS ($750,000.00}, receipt of which is hereby acknowledged, does hexehy
<br />sell and canvey unto The First National Bank of Grand Island, Grand Island., Nebraska,
<br />of the County of Hall, State of Nebraska, the following-described premises:
<br />Lots Thirty-Seven (37) and Thirty-Eight (38), in Block One (1),
<br />Brentwood Subdivision in the City of Grand Island, Hail County,
<br />Nebraska,
<br />the intention being to convey hereby an absolute title in fee simple.
<br />To have and to hnld the premises above-described with all appurtenances thereto
<br />helonging unto the said mortgagee, and to its successors or assigns forever, provided,
<br />and these presents are upon the express condition that if the said mortgagor, its
<br />successors, or assigr<s shall pay, or cause to be paid, to the said mortgagee, its
<br />successors or assigns, the principal sum of Seven Hundred Fifty Thousand and noJ100
<br />Dollars, payable. twelve months from the date hereof with interest on the unpaid. balance
<br />until fully paid at an initial rate of interest of 17% per cent per annum, which maq be
<br />adjusted from time to time on the outstanding balance as well as on future advances.
<br />Interest on principal and interest after maturity shall be at the rate in effect at the
<br />time according to the tenor and effect of the mortgagor's written Master Note bearing
<br />even date with these presents and shall pay al.l taxes and assessments levied upon said
<br />real estate and all other taxes, levies and assessments levied upon this mortgage or
<br />the note which this mortgage is given to secure before the same becomes delinquent,
<br />then these gresen*_s to be void, otherwise to remain in full force.
<br />IT IS FURTHER AGREED:
<br />That if the said mortgagor shall. fail to pay such taxes, the
<br />mortgagee may pay any sur_h taxes and the sum so advanced with
<br />interest at the maximum amount allowable at law shall be prepaid
<br />by said mortgagor and this mortgage shall stand as security far
<br />the same.
<br />2. That a failure to pay any of said mona_y, either principal or
<br />interest, when the same becomes due, or a failure to comply with
<br />any of the foregoing agreements shalt cause the whole sum of money
<br />herein secured to become due and collectible at once at the option
<br />of the mortgagee.
<br />gated this 9th day of February, 1..982.
<br />MANCHIK & ASSOCIATES,///~a/J'~-'P%/partnership
<br />...-~,.-~ ( f
<br />.' r - ~~~tia'%Y~
<br />By '~
<br />L A;~ Manchik, A General Partner
<br />STATE OF NEBRASKc~ )
<br />) ss.
<br />COUNTY OF HALT, }
<br />'~'he foregoing instruanent was acknowledged before me, a Notary Public,
<br />this 9th. day of February, 1982 by Lyle A. Manchik, a General Partner, on
<br />be)uelf of Manchik & Associates, a Partnership,
<br />aa~,ai-~. tee. ~.~ ~rr~,~----,__
<br />~~-. ~~' ~'. otary Pub:l.ic
<br />1A~ ~n EwA 9e~ ~, 4961
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