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~g~ ~.~3. to the Southeast corner of a tract previously sur- veyed for, and deeded to, The Geer Company; thence deflecting right 101°33'30° and running Northeasterly along the Easterly line of a tract previously sur- veyed for and deeded to The Geer Company, a distance of 719.9 feet to a point on the Southerly right- of-way line of U.S. Highway No. 30; thence deflecting right 51°35' an3 running Northeasterly along said right-of-way line a distance of 597.15 feet; thence deflecting right 134°40' and running Southwesterly a distance of 251.08 feet; thence deflecting left 132°52' and running Northeasterly a distance of 123.15 feet; thence deflecting right 114°10' and running Southerly and parallel to the East line of said Southeast Quarter of the Southeast Quarter (SE~dSE'~}, a distance of 788.22 feet to the point of beginning and containing 12.00 acres, more or less. This Mortgage is given to secure the payment of the principal sum of Two Hundred Sixty TYousand and No/100 Dollars ($260,000.00) and interest thereon, according to the terms of a certain Promissory Note of even date, executed by the Mortgagor to the Mortgagee, due the 24th day of May, 1979. The Mortgagor further agrees to maintain insurance upon the above-described premises in an amount not less than the indebt- edness due the Mortgagee with a loss-payable clause in favor of Mortgagor and Mortgagee as their interests may appear. The Mortgagor agrees to pay all taxes and assessments upon said premises and all other taxes, levies and assessments levied upon this Mortgage and the Note which this Mortgage is given to secure before the same become delinquent. In the event the Mortgagor sha13 fait to obtain such insurance or pay such taxes before delinquent, the Mortgages 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 twelve per cent (128) gez annum. In the event the Moztgagor defaults in the payment of said indebtedness or any installment thereof, ar fails to perform any of the other agreements herein, the Mortgagee at its election and without notice, may declare the entire debt secured by this Mortgage to be due and collectable at once; and may foreclose this Mortgage for the satisfaction thereof. Zn 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 tie Mortgagee to the payment of the Nate and all other sums secured hereby after deduction of any necessary costs of collection. Signed this ~ ~ day of March, 1979. TRIANGL, EAST INC., R Nebraska Corpoxatian Donald E. Benson, President ~' r~yn E~lertm~eiez, secretary - 7.-