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<br />Pi?RCHASE MONEY REAL ESTATE MCSRTGAGE
<br />MMark T. Fella, Mortgagor, in consideration of TWENTY THOETSAND FIVE
<br />E~T3l+3DR'~ Df3LLPtRS { $24, 500.00 ) received from Mortgagee, mortgages to Mary A.
<br />Maurer, i~iortgagee, the following described real estate situated in Hal"1
<br />County.:, Nebras&a:
<br />Lot Twenty (20}, Block Pifte>n (15), in Ashton Place
<br />Addition to the City of Grand Fsland, Sall County,
<br />Nebraska, as surveyed, platted and recorded.
<br />'.Chs Purchase Money Real Sstate Mortgage is given to secure the payment.
<br />of the principal sum of Twenty Thousand Five Hundred Ooilars ($20,50fl_00}
<br />and interest from March 15, 1982, at thirteen {13} percent per annum:, the
<br />principal and interest payable in monthly installments of $226.77 per month
<br />an the 15th day of each month commencing April 25, 2982, and on the 15th
<br />day of each month thereafter for 59 consecutive months, repayment of the
<br />principal and interest being amortized over a 3fl-year or 360'month period,
<br />with a balloon payment of $20,106.80 being due and payable with the 60th
<br />monthly installment of principal and interest, as provided in a Promissory
<br />.3ote dated March 15, 1982, for which this Mortgage is given as security.
<br />The Promissory Note provides that time is of the essence of the
<br />Promissory Note, and if ?daker fails for a period of more than thirty (30}
<br />days to pay any monthly installment payment when due, the holder of the
<br />Promissory Nate is given the option to declare the Note immediately due and
<br />payaYile without notice or demand. The Promissory ~}ote provides if
<br />Martg:~gar defaults in }payment of any monthly installment payment when
<br />due, the unpais3 monthly installment of
<br />principal bears interest at the highest legal rate until. paid.
<br />3~ortgagar agrees to insure the improvements on the real estate for a
<br />dollar amaur~t at Least equal to the unpaid balance due and payable on the
<br />Promissory :cote wYsich this ~ortgage secures, protecting the improvements
<br />from fire and other insurable physical damage hazards, lass 4if any} payable
<br />tv Mortgagee and Mortgagor, as their interests appear. Mortgagor is to
<br />furnish Mortgagee with a certificate of insurance evidencing the insurance.
<br />on the improvements.
<br />i~c>rtgago.r agrees to pay all taxes and assessments upon the real estate
<br />and all other taxes, levies and assessments levied. upon this Mortgage and
<br />t2xe Prom;issary Note which this Mortgage is given to secure before payment
<br />is delinc4'uent. If Mortgagor fails to pay the taxes and assessments before
<br />delinquent or insure the improvements an the real estate as required by
<br />this Mortgage, Mortgagee may pay the taxes and assessments or other liens,
<br />obtain and pay premiums for the insurance on the improvements on the real
<br />estate, and: is given a Lien secured by this Eortgage for the ats~unts
<br />adx~anced Ni*_h interest at the highest legal rate.
<br />rf INOrtgagor defaults far a period of mare than thirty (30} days. in
<br />payment of any monthly installment caf princi.pai and interest, or fails to
<br />perzorm any. of the other agreements in this Mortgage, Mortgagee, at
<br />iaortgag+ee's election,. may declare the entire debt secured by this Mortgage.
<br />due a~sd payable at once,... and foreclose this Mortgage for the. satisfaction
<br />of the. total account dxe
<br />t-trtgagor reserves the right to prepay the unpaid balance of princi-
<br />g+al and interest due on the Promissory Note secured. by this Mortgage on
<br />azcy maathly installment payment date, without penalty.
<br />vested: r~:arch 25v. 3982.
<br />,~,
<br />c.~,
<br />~~'~-t Mar ~T. Fat aj
<br />STATE OF ti~SiiF,S~KA, C'.{3fJF3TX t~F :iALL:
<br />The for~goc,ng irsstruawent was aoknowledged before me on
<br />`~KS ..r ~-~^•- _, r 1982, by Mark 'Z'. Falia,. l~artgagox.
<br />v-....--~J--y-__.-. -~
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