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<br />The YMCA and YWCA New Building Corporation
<br />The Grand Island YMCA Holding Corporation
<br />Young Women's Christian Association of Grand Is Land
<br />Young Men's Christian Association of Grand Island, Nebraska
<br />in the event the title to said real estate is transferred, or contracted to be
<br />transferred, from the undersigned for any reason or by ary method what-
<br />soever, the entire principal sum and accrued interest shall at once become
<br />due and payable at the election of the holder hereof. Failure to exercise
<br />this option beca use of transfer of title as above stated in one instance shall
<br />not constitute a waiver of the right to exercise the same in the event of any
<br />subsequent transfer.
<br />The intention being to convey hereby an absolute title in fee simple.
<br />TO HAVE ANI? TO HOi_D the premises above described, with all the ap-
<br />purtenances thereunto belonging unto the said Commercial National Bank &
<br />Trust Ca. , Grand Island, Nebraska, and to its heirs and assigns forever,
<br />provided always, and these presents are upon the express condition that if
<br />the said Y'IvICA and Y'Li,'CA New Bu: lding Corporation; the Grand Island
<br />YIviCA Holding Corporation; Young Women`s Christian Association of Grand
<br />island, and Young 14ien's Christian Association of Grand Island, Nebraska,
<br />or assigns shall pay or cause to be paid to the said Commercial National
<br />Bank & Trust Co. , Grand Island, Nebraska, heirs, executors, administra-
<br />tors or assigns, the sum of Five Hundred Fifty Thousand and ao/100 dollars
<br />i ,.,,,,os,z~ ,,,,~,-ta,-iv haainnirng
<br />payable aS tallow 5, t0-V."li: iilteir5i vniv Y°,7au~~ yu•-~ -~--,s a
<br />Becember 31, 1978, and similarly thereafter until march 31st, 1982, at
<br />which time the entire principal balance plus accrued interest to that date
<br />shall be due and payable, interest at 8'"0 (per cent per annum), according to
<br />the tenor and effect of the promissory sate or notes of the YlVIC9 and YWCA
<br />New Building Corporation; The Grand Island YMCA Holding Corporation;
<br />young Women's Christian Association of Grand Island; and Young Men's
<br />Christian Association of Grand Island, Nebraska, or as such note or notes
<br />may be modified ar e?ctended is writing from time to time, bearing even
<br />date with these presents and shall pay all tales and assessments levied up-
<br />on this mortgage or the note which this mortgage is given to secure before
<br />the same becomes delinquent, and keep the buildings on said premises insured
<br />(i) far an amount agreeable to I13ortgagee, loss, if any, payable to the said
<br />mortgagee, then these presents to be void, otherwise to be and remain in
<br />full farce.
<br />A late charge of 2~~, {percent) will be assessed on any interest aayment that
<br />is more than fifteen {1~) days past due.
<br />iT IS FtiRTHER AGBEEIj, {1) That if the said mortgagor shall fait La pay
<br />such taxes or procure such insurance, the said mortgagee may pay such
<br />taxes and procure such insurance, and the sum so advanced, whit interest
<br />at 8~ia {percent) shall be repaid by said mortgagor, and this mortgage shall
<br />stand as security for same. t2) That a failurc° to pac any of said money,
<br />either principal ar interest when the same become due, ar a failure to com-
<br />ply with any of the foregoing agreements, shall cause the whole sum cf mone~~
<br />herein secured to become due and collectible at once at the option of the
<br />mortgagee.
<br />L*: WITNESS WHEREOF, the Said YMCA and'~'it'CA~New Building Corporation;
<br />The Grand Island y?11CA Holding Corporation; Young tL'omen's Christian Associ-
<br />ation of Gra-td Island; and Young Il~en's Christian Association of Grand Island,
<br />Nebraska, has hereunto caused these present= to be signed by their respective
<br />officers and directors, this _ 29th da~• of ?March 19 ;9
<br />~9,gped, Sealed and delivered in presence of:
<br />!- %.'i -car. ~.. i_~-~ ~ ._:~__
<br />Y ...E
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