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___.__ .. 1 ~7~°°'mi.)~~~3~rs REAL ESTATE MORTGAGE DEAN R. ERICKSON AND NAOMI J. ERICKSOP7, husband and wife, herein called the Mortgagors, in consideration of One Hundred Thirty-Seven Thousand Four Hundred Fifty-Two and Na/1DD Dollars ($137,452.00), do hereby mortgage to HENRY C. EACH AND RUTH I. BACH, husband and wife, herein called the Mortgagee, the following described real estate in Hall County, and State of Nebraska: An undivided 1/3 interest in and to Lots One (1), Two {2}, Three (3}, Four. (4), Five (5), Six (6), Seven (7) and Eight (B} in Bels Subdivision, City of Grand Island, Hall County, Nebraska. This Mortgage is given to secure the payment of the principal sum of $137,452.00 and interest thereon, according to the terms of a certain Promissory Note of even date, executed by the Mortgagors to the Mortgagee, due the 2nd day of July, 1993, The Mortgagors shall maintain fire, windstorm and extended coverage insurance with a mortgage clause on the buildings on said premises in the sum of $ The Mortgagors agree to pay all taxes and assessments upon said premises and all other taxes, levies and assess- ments levied upon this Mortgage and the Note which this Mortgage is given to secure before the same become delinquent. In the event the Mortgagors shall fail to obtain such insurance or pay such taxes before delinquent, the Mortgagee may purchase such insurance and pay such taxes or other liens and shall have a lien secured hereby for the amount so advanced with interest thereon at the rate of 6 per cent per annum. In the event of default in the performance of any of the terms and conditions of this Mortgage or the Note secured by it, the Mortgagee shall be entitled to immediate possession of the property above described and all the rents, revenue and income derived therefrom during such time as the Mortgage indebtedness remains unpaid shall be applied by the Mortgagee to the payment of the Note and a.l.l other sums secured hereby after deduction of any necessary costs of collection. In the event the Mortgagors default in the payment of. said indebtedness or any installment thereof, or fail to perform any of the other agreements herein, the Mortgagee at Mortgag+ee's election may declare the entire debt secured by this Mortgage to be due and collectible at once; and may foreclose this Mortgage for the satisfaction thereof. The Mortgagors further agree that payment hereunder shall be made to Mortgagees as joint tenants and in the event of the death of either of said Mortgagees, all payments clue hereunder shall be anade to t'tie survivor of them who may execute and deliver a release hereof which shall extinguish the interests of all Mortgagees hereunder. Signed this .~Z-- day of December, 1979,. r: _., /. j ~~~ / / / .t'.~ _____-- r ~ Dea R. ricksan ~y~'__-` t {/ Naor J Brick cn