|
<br />$1---G)~~3`?~
<br />REAL ESTATE fi4£1RTGAC~
<br />KNt~! RLL PAN BY THESE. PRESENTS:
<br />That Bison Investors II, a Limited Partnership, organized and existing
<br />undsor~ the lae~s of the State of Nebraska, having its principal office in
<br />Gran+~ Island, Hall Gounty, Nebraska, in consideration of the sum of One Hundred
<br />Ninety Th®utand Qollars {$390,000.00}, receipt of which is hereby acknowledged.,
<br />does. hereby sell and convey unto the First National Bank of Grand Island, Grand..
<br />Island, Nebraska, of the Gounty of Hall, of the State of Nebraska, the following
<br />described. premises:
<br />L0T SEVEN t7), BLOCK NINE (9), CONTINENTAL GARDENS., AN ADDITION
<br />TO THE CITY OF GRAND ISLRND, HALL COUNTY, NEBRASKA.
<br />the intention being to convey hereby an absolute title in feP simple.
<br />Ta have and to hold the premises above describes; with all appurtenances thereto
<br />be]ong3ng unto the said mortgagee, and to its successors and assigns forever,
<br />provided, and these presents. are upon the express condition that if the said
<br />mortgagor, its successors or assigns sha11 pay, or cause sum of One Hundred Ninety
<br />Thqusand Donors ($190,000.00}, payable one year from the date hereof with interest
<br />at the rate of one percent above the prime rate of the bank in effect from. time
<br />to t~me. The rate will chance if the bark prime rate warrants at end of six months,
<br />with ai"! acexved interest being due at that time. The initial Hate rate will be
<br />seventeen and ane-half (17.50 percent per annum:, according to the. tenor and effect
<br />.^,f +1,~; `"tyui7u'"' ,wri±+nrj 4rmaiS:Sr~ry Nn±e hnarin:~ Doan ri~,Ye tyitfi thegP pru°~ents. t?tid..
<br />shall payaail' taxes and assessments levied upon. said real estate and all other
<br />taxes, levies and assessments levied upon this mortgage or the note-which this
<br />mortgage is given to secure before the same become delinquent, then these presents
<br />to be uaid, otherwise to remain in full force.
<br />IT IS FURTHER AGREE73
<br />1. That if the said mortgagor shall fail to pay such taxes, the mortgagee
<br />may pay any such taxes and the sum so advanced with interest at the maximum
<br />amount. ailowa67e at law shall be prepaid by said mortgagor and this mortgage shall stand..
<br />as security for the same,
<br />2. That a failure to pay any of said money, either principal or interest,
<br />when the saa~ becomes due, or a failure to comply with any of the foregoing
<br />agreements shall cause the whole ss~n of money herein secured to become due and.
<br />oollectible at once at the option of the mortgagee.
<br />Dated tk~is ~ ~' _ day of December, 19BI.
<br />BISON INVESTORS II, R LIMITED PARTI~RSHIP
<br />,.-?
<br />BY-~ ,,,t1 %~ .,-~~,~.-----ti ,,~=.
<br />Mid-l'ontinent Enterprises, Ins 1
<br />General Partner
<br />Glenn R. Wilson, Jr., President
<br />STATE OF NEBRASKA}
<br />} ss
<br />Gfl~tTY OF HALL
<br />The fo scent was acknowledged before me this ~"` F' day of
<br />i)ece~bpr, t~-~ler~::~tilson, Jr., President of Mid-Continent Enterprises, Inc.,
<br />genera i p ¢t- for 13isbtt.`° nvestors II , A Limited Partnership.
<br />~, -.
<br />,j
<br />My Cammis+~,rs~ F.~ptres~ 'A~ _ Yot,~rybfiic
<br />'~,`
<br />a yc
<br />
|