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~~- ~~~'~ FIRST PURCHASE ihONEY REAL ESTATE [hORTGAGE LEO M. ADAMS and SHIRLEY H. ADAMS, husband and wife, each in his and her own name and right and as spouse of each other, MORTGAGORS, in consideration of THIRTY-FIVE THOUSAND DOLLARS ($35,000.00), mortgage to BEULAH BOLLENBACH, BiORTGAGF.E, the following described real estate {as defined in Section 76-201 of the Revised Statutes of Nebraska) in Hall County, Nebraska: Lot Two (2) in Block Nine (9) in West View Addition to the City o.f Grand Island, Hall County, Dlebraska, as surveyed, platted and recorded. This Mortgage is to secure the payment of the principal sum of $35,000.00 and interest from August 1, 1980, at ten percent (1C§) per annum, payable in 180 consecutive monthly installments of $376.12 each, according to the terms of a Promissory Note da*_ed Auyust 1, 1980, executed and delivered by tiortgayors to tortyagee, the monthly payments (including principal and interest) being payable as follows: $376.11 on September i, 1980, and $370'.12 en the first day of each month thereafter for 179 consecutive months until the entire unpaid balance of purchase price, with interest, is paid in full. The Promissory Note provides that time is of the essence of the Promissory Note, and ii default is made in any monthly payment for a period of more than sixty (60) days, the holder of the Promissory tdote may, without notice or demand, declare the entire principal sum then unpaid, together with accrued interest thereon, immediately due and payable. The Promissory :dote can_ be prepaid by the maker according to the terms of the Nete. Mortgagors agree to pay all taxes and assessments upon t'::e real estate and all other taxes, levies and assessments levied upon this thortyage and the Note which this Mortgage is given to secure before payment is delinquent. If hiortgayors fails to pay the taxes and assessments before delinquent, Mortyagee may pay the taxes and assessments or other liens and is given a lien secured by this Mortgage for the amounts advanced with interest at the highest legal rate. Any such advances by the ]ortgageE are immediately repayable. Mortgagors agree to insure and keep insured all buildings cad imt3rovements located Gra the real zstate for y~rotecfian against fire and other casualties in an amount not lzss than the balance o~.rir.g by them on the Note securing this tortgage, with Mortyagee included as a named insured on the insurance policy as her interest may appear, to carry the insurance with a responsible insurance company duly licensed to do business in Nebraska. If Mortgagors fail to carry; the insurance required by this paragraph, Mortgagee ma}• purchase t;=e insurance and is given a lien secured by this Mortgaya for the amounts advanced with interest at the highest legal rate for the payment of insurance premiums. ~ny_such_ adyances_by_the Mo_rtg_agee are _immediately_ repayable. If hortgagors default in making payment of any monthly install- ment for a period of more than sixty (6U) days or fail to perfo-m any of the other duties and obligations of Mortgagors under this Mortgage, Mortgagee, at Mortgagee's election, may declare t-he en.~irt. indebtedness secured by this Mortgage due and payable at once, and foreclose this thortyaye for the satisfaction of the total amount ~r ncipa~ a an:~ due. Aster at~_ such dgt'aultr- -the entire u,:pai:? " i '' - - shall bear interest at the maximmn legal rate untie such default _s remedied. If the Mortgagee brings an action to foreclose L-his Mortgage, the t+lortyayee shall be entitled to immediate possession of the real estate mortgaged under this Mortgage, and the court may appoint a receiver to take possession of the real estate, as provided by iasa.. Any failure or delay of Mortgagee *_o exercise any of ,Mortgagee's rights or privileges under this Portgage shall not to construed as a waiver of such right or privilege. Ary act of