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<br />~A ~ = ;~ ~~ U ~ 1 ~ ATE M~xr.~c~
<br />TNT P~.s~awr Arm ~ a.DVANC.~s
<br />I~f ALL M~v BY THESE P3"t:T~~u:
<br />TH~.T THE arm NATICPtAL BANK
<br />(wt~tner one or srore herein called Mortgagors) of
<br />County and State of Nebraska in consideration of the sun of
<br />MrLLIaN Fz~ ~. Na/laa -----($~,5oo,oaa.oa) nata~Rs
<br />in hand paid, do hereby SELL and ~ unto The Overland N'ationa~Bank of
<br />Grand Island Grand Tsland Nebraska (herein called Mortgagee) of Hall
<br />County, and State of Nebraska., the following described premises situated in
<br />Hall County, and State of Nebraska, to wit:
<br />The Northwest Quarter (NWT) of Section Four (4), Township Eleven
<br />(11) North, Range Nine (9) FVest of the 6th P.bi.; Hall County,
<br />Nebraska, except such tracts as have k:eretofore been conveyed
<br />and shown in the Deed Recr~rds of the Register of Deeds of Hall
<br />County, Nebraska, recorded in Book 1a5, Page 515, Book 7.18, Page
<br />193, Book 137, Page 19, Book 145, Page 353, and Book 148, Page
<br />151.
<br />The intention being to convey hereby an absolute title in fee simple including
<br />all rights of bane-stead and marital rights, if any, and to waive any exemptions
<br />to which Mortgagors may be otherwise entitled under state law or federal banking
<br />laws wi:tFa respect thereto
<br />1O HAVE AND 10 FDID the premises described, with all the appurtenances there-
<br />unto belonging unto the Mortgagee and to its successors and assigns, forever,
<br />provided always, and these presents are upon the express condition that if
<br />Mettenbrink Fay Inc. or Mortgagors, their, his,
<br />-her or its heirs, persottal representatives, successors or assigns shall pay
<br />or cause to be paid to Mortgagee and to its successors or assigns the sum of
<br />$2,411,606.73 presently
<br />not receiv' (repayment of which are guaranteed by any Mortgagor
<br />ing such advance) which together with the amount presently advanced
<br />shall not' exceed the total sun of TNT? ASILLiCN FIVE HGNDRED THOUSA~ID DOZ,L,ARS
<br />& iy~~100 ----- DCH ARS at any one time unpaid and outstanding, due and pay-
<br />able, with. interest, according to the teams of the pranissory note(s) evidencing
<br />such advance(s), being the intention and agreement of the parties that from tune
<br />to time advances secured by this mortgage will be repaid according to the terms
<br />of the promissory note(s) evidencing the same, and the Mortgagee fran time to
<br />time may, at its option, make future additional advances and readvances, and
<br />renew or extend Hate(s) evidencing outstanding indebtedness which shall be
<br />seeureci hereby; provided only that the total principai amount of unpaid in-
<br />debtedness secured by this nx>rtgage shall Hat at any one time exceed the max-
<br />imim amamt above stated plus any advances to protect the security; and if
<br />Mortgagors shall pay or cause to be paid any interest and maturing installments
<br />of principal due on any prior mortgage and all taxes and assessments levied
<br />upon said real estate-and all other taxes and assessnents levied upon this mort-
<br />gage or the debt which this mortgage is given to secure, before the same becomes
<br />delinquent and shall keep any building on said premises insured for the full
<br />insurable value tkrereof with loss payable to such Mortgagees, if any, or Mort-
<br />gagee, or: both, then these presents shall be void otherwise to be and remain in
<br />full force.
<br />IT IS-TLS AGREED (1) That if Mortgagors shall fail to ~,
<br />pay such taxes
<br />aad such interest on, or maturing installments of principal, due on any prior mort-
<br />gage and procure such insurance, then Mortgagee may pay such taxes and such int-
<br />erest and uatua'ing installments of principal, due on such prior mortgage and pro-
<br />eure vch,inst~rsnce; and the sure s~ advanced. with interest at National Bank of
<br />ce Lincoln. Nebraska Prime Interest Rate per Dent shall be paid by
<br />rteagars, and ttf3s moit_¢a¢e shall stern as security for the same.. (~) That a
<br />failure•to P$5' any indebtedness, either principal or interest secured by this or
<br />a~sy prior martga.ge, when the. same becomes due or a failure to comply sulth any of
<br />the for~egnitng agreements, shall cause the whale son of money herein secured to
<br />become due and collectable at once at the option of the Mortgagee.
<br />
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