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<br />REAL ESTATE MORTuAGE
<br />RAY M, POEHLER and LINDA L. FOEITLER, husband and wife, each in his
<br />and her own name and right and as spouse of each other, Mortgagors, in
<br />consideration of TWENTY THOUSAND DOLLARS ($20,000.00) received from
<br />Mortgagee, mortgage to EDNA R. CODNER, Mortgagee, the following des-
<br />cribed real estate situated in Hall County, Nebraska:
<br />A tract of land in the Northeast 2uarter {NE ;) of Section
<br />Twenty-Nine {29}, Township Twelve {12) North, Range Eleven
<br />{ii) West of the 6th P.I~S., in Hall Ceunty, Nebraska, des-
<br />cribed as follows: Commencing at the North quarter corner
<br />of said Section, thence East on section line a distance of
<br />759.0 r^eet to a paint on section line which is the actual
<br />point of beginning: From this point, southerly, at an angle
<br />of 90° QO' to the right from the section line a distance of
<br />938.0 Feet, ther_ce easterly at an angle of 90° 00' to the
<br />left a distance of 596.7 Feet, thence northerly at an angle
<br />of 90° 00' to the left a distance of 9S8.U rr^eet, thence
<br />westerly on section line a distance of 596.7 Feet to the
<br />actual point of be©inning, said tract containing Six (6)
<br />Acres, more or less.
<br />`"his Real Estate Mortgage is given to secure the payment of the
<br />. 3 -'f "'%" Ti3i:~~aad D.^il~r~ IBC,?11 :'1 t1~ 11n} nd n}era st frnm
<br />pxiu 3p a.i sw _ : u ~ ..~. ~.. ...
<br />February i, 1980, atijt~:elve and one-half (12~)Ypercent per annum,
<br />payable in installmer_ts according to the terms of a Promissory Note
<br />dated Februar' 3, 2980, executed and delivered by Mortgagors to Mortgagee,
<br />interest lacing payable semi-annually ~n the first day of February and
<br />August in each year commencing on August 1, 1980, and principal payable
<br />in equal annual ir_stallments of $9,000.00 each on February 3 of each
<br />year commencirg Felax.;arl° 3, 3963, and continuing until February 1,
<br />2985, at which time any unpaid balance of principal and all interest
<br />accrued is due and payable.
<br />Ttze Frosaissory Note provides that time is of the essence of the
<br />Promissory Note, and if default is :Wade in the payment of any install-
<br />ment of gxincipal or interest, the holder of the Promissory Nate may,
<br />without notice or demand, declare the entirC principal sum then unpaid,
<br />together with accrued interest thereon, immediately due and Dayable.
<br />upon default of payment of any installment of principal, the unpaid
<br />halanec of principal bears ir.~erest at the highest legal rate.
<br />~§ortgagors agree to pay all Lazes and assessments upon the real
<br />estate and all other taxes, levies and assessments levied upon this
<br />24ortgage and the Promissory Nate which this Mortgage is given to secure
<br />iaefore payment is delinquent. ix Mortgagors fail to pay the taxes and
<br />asses-*~~r nts before delinquent, :9oxtgagee r.:a}~ pay the taxes and assess-
<br />ments or other liens ana is given a liar. secured by this Mortgage for
<br />the amounts advanced with interest at the highest legal rate.
<br />I€ ~€ortgagors default in payment of the indebtedness or any install-
<br />ment of principal or interest, or fail to perform any of the other
<br />agreements in this Kortgage, Mortgagee, at Mortgagee"s election, may
<br />declare the entire debt secured by this ~5ortgage Sue and payable at
<br />once, and foreclose this t~or2gage for the satisfaction of the total
<br />a~aurst due,
<br />dated: Febzuary 3, 398D.
<br />5 -!' ~ -
<br />{Ray M. Poehler}
<br />STATE OF fiIEHRAS,°+P., COQNTX OF r';ALL;
<br />"'-'t
<br />~.
<br />~°~ (Linda L. Leh er
<br />Tice ;oregoinq instrument was acknowledged before me this February 1,
<br />19$4, by ray M, Poehier anti Linda L. Poehler, husband and wife, each in
<br />his and her owe name and right and as spouse of each other, Portgagors.
<br />~ --._.--.x_. ~ i.~ ~r-x-~.-_.
<br />T ~ No~ary blic
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