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<br /> $~~--tI0220'7"
<br /> REAL ESTATE MORTGAGE
<br /> KNOY! ALL MEN BY 3HESf PRESENTS:
<br /> That Plaza Square, A General Partnership, organized and existing
<br /> under the laws of the State of'Nebraska, having its principal office in
<br /> Grand Island, Hatl County, Nebraska, in consideration of the suR~ of
<br /> FOUR HUNDRED SIXTY ONE 'IiDUSAND FIVE HUNDRED.AND NO/100 0461,500.00;,
<br /> receipt of which is hereby acknowledged, does hereby sell and convey
<br /> unto The First National Bank of Grand-Island, Grand'Island, Nebraska,
<br /> of the County of Hall ,, of the State of Nebraska,-the following described
<br /> premises•
<br /> LOTS: FIVE (5), SIX (6), SEVEN (`7), AND EIGHT
<br /> {8)„ BLOCK SLXTY-SEVEN (67),'ORIGINAL TOWN
<br /> OF GRAND ISLAND, HALE COUNTY, NEBRASKA,_
<br /> the. intention being to convey hereby an absolute title in fee simple.
<br /> To .have and to hold the premises above described with`al1'
<br /> appurtenances theretobelongirtg unto the said mortgagee, and to its
<br /> successors and assigns forever, provided, and these presents are
<br /> upon the express`condi ion that if the said..mortgagor, its successors
<br /> or assigns'shall pay, or cause°to be paid, to the aid mortgagee,`..
<br /> its-successors or assigns, the`prirtcpal sum .of FOUR HUNDRED SIXTY ONE
<br /> THOUSAND FIVE HUNDRED AND ND/i00 (8461,500:00), payable in thirty-six
<br /> (36).monthly insLaliments as fdllows:
<br /> FIRST INSTALLMENT OF 36,945.35 INCLUDING PRINCIPAL
<br /> AND INTEREST COF~fENCING JilNE 25, 1982. FOLLOWING
<br /> iNSTALLMEN7S T0'CHANGE SEMI-ANNUALLY TO REFLECT CHANGES
<br /> IN PRIME RATE. INTEREST'RATE TORE ONE PERCENT ABOVE
<br /> THE PRIME RATE OF THE .BANK. FINAL INSTALLMENT DUE AND
<br /> PAYABLE MAY 25, 1985. FINAL INSTALLMENT IS A BALLOON,
<br /> PAYMENT AND. WILL BE $458;353.68 BASSO>ON INITIAL INTEREST
<br /> RATE'OF 17.50%,
<br /> according to the tenor and effect of the -~~rtgagor's written Promissory
<br /> Note bearing even date with these presents and shall'pay 'all taxes<and
<br /> assessments levied upon said real estate and all other taxes, levies
<br /> and assessinents'levied upon this mortgage or the note which'ths
<br /> mortgage is given to secure before the same become delinquent,'then
<br /> these presents to'be vpd, otherwise to remain in full force.
<br /> IT IS FURTHER AGREED:
<br /> 1. That if the said mortgagor shall fail to pay such taxes,
<br /> the mortgagee may pay any such 'taxes and the sum sa'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 for the
<br /> same.
<br /> 2. That a failure to pay any of said money, either principal
<br /> or interest, when the same becomes due, or a failure to comply with
<br /> any of the foregoing agreements shall cause the whole sum .of money
<br /> herein secured to:become due and collectible ai onece at the option
<br /> of the mortgagee,
<br /> Dated this 12th day of May, 1982.. ~~
<br /> PLAZA , G eral artnership
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