|
~9° vU~51J
<br />REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That Plaza Square, a general partnership, organized and
<br />existing under the laws of the State of Nebraska, having its
<br />principal office in Grand Island, Ha.11 County, Nebraska, in con-
<br />sideration of the sum of FOUR HUNDRED TEN THOUSAND DOLLARS
<br />($410,000.00), receipt of which is hereby acknowledged, does
<br />hereby sell and convey unto The First National Bank of Grand
<br />island, Grand Island, Nebraska, of the County of Hall, of the
<br />State of Nebraska, the following described premises:
<br />Lots Five (S), Six (6}, Seven (7), and Eight
<br />(8), Block Sixty-seven (67), Original Town
<br />of Grand Island, Hall County, Nebraska,
<br />the intention being to convey hereby an absolute tit e in fee
<br />simple.
<br />To have and to hold the premises above described with all
<br />appurtenances thereto belonging unto the said mortgagee, and to its
<br />successors and assigns forever, provided, ar.d these presents are
<br />upon the express condition that if the said mortgagor, its successors
<br />or assigns shall pay, or cause to be paid, to the said mortgagee,
<br />its successors or assigns, the principal sum of Four Hundred Ten
<br />Thousand Dollars, payable six months from the date hereof with int-
<br />erest at the rate of eleven (11) percent per annum, and interest
<br />on the unpaid principal balance payable monthly until the principal
<br />is paid six months from the date of this mortgage, according to the
<br />tenor and effect of the mortgagor's written Promissory Note bearing
<br />even date with these presents and shall pay all taxes and assessments
<br />levied open said real estate and all other taxes, levies and assess-
<br />ments levied upon this mortgage or the note which this mortgage is
<br />given to secure before the same become delinquent, then these pre-
<br />sents to be void, otherwise to remain in full force.
<br />IT IS FURTHER AGREED:
<br />I. 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 />camp,
<br />2. That a failure to pay an_y 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 at once at the option
<br />of the mortgagee_
<br />Dated this 5 day of June, 1979,
<br />PL.AZAJ/~../ E, Gen al Partnership
<br />By l
<br />R. ... S pens
<br />,Ds~n ui sm
<br />Alvin Alms
<br />MID-CO T7~lENT ENTERPRISES, INC.
<br />By t ~ , ~ C.._
<br />r 'i ent
<br />ALL OF THE PARTNERS
<br />
|