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~~+~~~~ REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That WHEELER STREET PARTNERSHIP, a Partnership, existing under
<br />the laws of the State of Nebraska, (Mortgagor) of Ha11 County, Nebraska,
<br />in consideration of the sum of FOUR HUNDRED THOUSAND DOLLARS ($400,000.00},
<br />does hereby sell and convey unto THE FIRST NATIONAL SANK OF GRAND ISLAND,
<br />GRAND ISLAND, NEBRASKA, (Mortgagee) of HaI1 County, Nebraska, the
<br />following described premises:
<br />The Southerly Two Thirds (S 2/3) of Lot Eight (8),
<br />all of Lot Seven (7), and the Easterly Tsventy-Six
<br />Feet (E26') of Lot Six (6), alI in Block Eighty-
<br />One (81), Original Town, now City, of Grand Island,
<br />Ha1.1 Count} , iebraska,
<br />the intention being to convey hereby an absolute title in fee simple.
<br />TO HALE AND TO HOLD the premises above described with all appur-
<br />tenances thereto belonging, unto the said Mortgagee and to its success-
<br />ozs and assigns forever, provided and upon the express conditio~_ that.
<br />if the said Mortgagor, its successors or assigns shall pay or cause
<br />to be paid to the said Mortgagee, its successors or assigns, the
<br />principal sum of Four Hundred Thousand Dollars {5400,000.00), payable
<br />As follows:
<br />Interzst only shall be payable on the unpaid principal
<br />balance on the first day of each month beginning April
<br />1, 1980, through <-d including October 1, 1980, when
<br />the entire remaining unpaid principal balance, plus
<br />interest, shall be paid in full,
<br />with interest according, to the tenor and affect of the ?•4ortgagors
<br />written Mortgage Nate bearing even date herewith and shall pay all
<br />taxes and assessments le~~ied cipor. said real estate and all other
<br />taxes, levies, and assessments levied upon this mortgage or the
<br />note which this mortgage is given to secure, before the same become
<br />delinquet:t, Chen this mortgage. shall be void, otiierwist~ to remain
<br />in full fierce.
<br />IT IS F'U`RTHER AGREED (1) That i[ the said '~iarts,agor shall tail
<br />to pay such taxes ar assessments, the said Mort6itgee may pay-such-
<br />taxes and assessments and the sum sa advar~ed, with interest at I3'~%,
<br />per annum, shall be repaid by said Mortgagors, and this mortgage
<br />shall stand cgs security for the same. (Z) 'T`hat a failure to nay any
<br />of said monthly interest or the principal, when the same become due
<br />pursuant to the terms of the Mortgage Note given on ever, dates hc:rewiCh,
<br />or a failure to comply with any of the. foregoing agreements, shall
<br />cause the said sum of money herein secured to become due and collecti-
<br />ble at once at the opCien of the Mort~;afee.
<br />DaR:d this ~ ?day of March, 1980.
<br />9 WHEELER STREET' E'AR`I'NERSH I P ,
<br />~` A artne skip-,~bv il! U the .z=4nors
<br />1//~l t
<br />~'i Tt~"I't L.~_-?u x~,-i n~, -- --~ .~. .i i~.'tt~ r,. -f:-T _,....._.. ._._.....
<br />K_wVUl~~ir~, ~ ' t
<br />D. Steven Letn>.nger ( !;race 1. Smith ~~
<br />State of Nebraska
<br />County cif Hall
<br />F ~~
<br />The foregoing instt'urtent was acknowledged bcrEore cne this /-~} day
<br />of. March, 1980, by Vincent i.. -cz•r~ding„ James A. Bo•Ltacr, C?-~'Stevctt
<br />Leinin~-;r,r, at:it Bruce. I. Smith, Parttters, on be halt of ;JEtecler Stre4t
<br />Fart: ~~°~.`:f.t5, a Y;trCner.ship, for the purnoscs therein ::CaCeci.
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