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79- ~;t~3162
<br />REAL PROPERTY MORTGAGE
<br />BERNAP.D C. H.ARDERS and ROGENE A. HARDEF.S, husband and wife, herein called the
<br />mortgagor whether ore or more, in consideration of ONE HUNDRED TFlENTY-FIVE THOUSAND
<br />and Pi0%100 DOLLARS, received ,'rpm mortgagee, does mortgage to THE STATE BA1VK OF CAIRO,
<br />a Nebraska banking corporation of Cairo, Hali County, Nebraska, the following
<br />described real estate:
<br />The Southeast Quarter (S~) of Section Three {3) in Township Eleven (11)
<br />North, Range Eleven (11}, .vest of the bth P.td., Hail County, Nebraska,
<br />except the ='ollowing described tract of lan3: Beginning at the Sautheast
<br />corner of said Southeast Quarter {SEA) thence running nart?:erly along
<br />the east line of said Southeast Quarter (SE 4} a distance of Three Hundred
<br />Seventy Two (37^c.0) feet; thence ru*;rin~ westerly, parallel to the south
<br />line of said Southeast Quarter (SEA) a distance of P1ine Hundred f;inety
<br />Three (993.0) feet; thence runr_ing southerly, parallel to the east line
<br />of said Southeast Quarter {Srf'.) a distance cf Three Hundred Seventy Two
<br />(372.0) feet to a point on the south line of said Southeast Quarter (SEA);
<br />thence running easterly along th=_ south line of said Southeast Quarter
<br />(SE',) a distance of Niae Hundred idinety T?~ree 1093.0) feet to the point
<br />of beginning.
<br />hortgagor does heresy covenant with the mortgagee and with morgagee`s
<br />successors and assigns that Mortgagor is lawfully seised of sai3 premises, that
<br />-they are free from encumbrance, except as hereafter described, that mortgagor has
<br />good right and lavful authority to conrey the same, and that mortgagor warrants
<br />and vill defend the title to said premises against the lawi"li? claims of all persons
<br />vhamsoever.
<br />it is agreed to by the parties that this mortgage is subject to and ,~,uaier to
<br />a certain mortgage conveyed by the above mortgagor to John Hancoc;tnutual Li*_'e
<br />insurance Costpany dated Janua?^~• 31, 1976, and recorded ir. the Office of the Register
<br />of Deeds, Hall County, 2ebraska, as document n-,zaber 76-000611.
<br />This mortgaae is given to sec are the payment of the promissa~°t note of this
<br />date made by mortgagor for w125,000.00, with interest thereon accardir~; tc the
<br />terms of said note, p~vable on t're first day of each and every month of March,
<br />beginning March 1960, upon all principal re^airirg from time to time unpaid;
<br />principal to be paid in installments as follows:20,000.00 on March 1, 1980
<br />and X20,000.00 an the first da of ?="arch theresfter tc ?=larch 1962; balance
<br />of $5,000.00 on ;larch 1, 1963:
<br />?~9ortgagor shall pay all taxes and assessments levied upon said real property and
<br />ail other taxes 3evied on t~'iis mortgage or the note which this martgage is giver.
<br />to secure 14efore the same becames de_inpuent. If mortgagor fails to pay such taxes
<br />and a<smsswents, `"~_._,agee mom, pay such taxes and the amaurt sa advanced with
<br />interest at nine perce:;t per arsum shall be secured by this mortgage.
<br />in case of default in the payment of the principal sam ar any installment t':erecf
<br />or of any interest thereon when t}e same sl'iall become Sue or in case of the no^-
<br />payment of any taxes ar assessments _s herein pra-ride3, inertzagee may at the aption
<br />o~'~srtgagee, irithout notice, at anytime 3u_*ing the continuance of such default or
<br />breach, declare the ;-ho3e 3ebt secured by this martgage to be immediately due and
<br />pEeyable en3 ,:,sy foreclase this mortgage. In the went of default in the perfarmance
<br />oY any of the terms and conditions of this martgage or the note secured by it, the
<br />mortgagee shall be entitled to immediate possession of the property above described
<br />and all rents, reeenue an3 inecs~ae derived therefrom during such time as the mortgage
<br />indebtedness remains unpaid shall be applied by the mortgeae to the payment of the
<br />note and ail othE st3ms secured hereby after deduction of any necessary costs of collection.
<br />DAT~3 _~` ~ _, 1979 - j .,
<br />~ Bernard C. Herders ~~ gene A.' orders ~~
<br />STATE OF H~BRASKA, County of Hall: ~+
<br />The foregoing i.nstriment was acImowledged before me this p 1919, by
<br />Bernard C. Herders cad Rogene A. Herders, husband and wif~ ~. ~°~
<br />f1~M[eI~MR~Mi t rj~'' 7 ~ ~ ~ } s , i
<br />p~~, = ~ Platary Public
<br />'11tCw~-as.~M.AR
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