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REAL ESTATE MORTGAGE p
<br />xelow ALL MEx HY THESE PRESENPS: ~~,.,, t) t } ~ $ 3
<br />That ~ D, & L Development Group, a Partnership, existing under
<br />the laws of the State of Nebraska, (Mortgagor) of Hall County, Nebraska,
<br />in consideration of the sum of Five HUt~RED FIFTY THOUSAND DOLLARS
<br />45550,000.00), does herehy sell and convey unto THE FIRST NATIONAL HANK
<br />OF GRAND ISLAND, GRAND ISLAND, NEBRASKA, {Mortgagee) of Hall County,
<br />Nebraska, the fallowing described premises:
<br />SEE EXHIBIT °A"
<br />the intention being to convey hereby an absolute title in fee simple.
<br />TO HAVE AND TO HOLD the premises above described with all appur-
<br />tenances thereto belonging, unto the said Mortgagee and to its success-
<br />, ors and assigns forever, provided and upon the express condition that if
<br />the said Mortgagor, its successors or assigns shall pay or cause to be
<br />paid to the said Mortgagee, its successors or assigns the principal sum
<br />of FIVE HUNDRED FZFTY THOUSAND DOLLARS ($550,000.00), payable as follows:
<br />Principal plus accrued interest at 14,108 due and payable
<br />on 3une 1, 1981.
<br />with interest according to the tenor and effect of the Mortgagors written
<br />Mortgage Nate bearing even date herewith and shall pay all taxes and
<br />assessments levied upon said real estate and all other taxes, levies,
<br />and assessments leviacl upon this mortgage or the note which this mortgage
<br />is, given to secure, before the same become delinguent, then this
<br />r~rtgage shall be void, otherwise to remain in full force.
<br />IT IS FURTHER AGREED (1) That if the said Mortgagor shall fail to
<br />pay such taxes or assessments, the said Mortgagee may pay such taxes
<br />and assessments and the sum so advanced, with interest at 168 per annum,
<br />shall be repaid by said Mortgagors, and this mortaaae shall stand as
<br />security for the same. (2) That a failure to day anv ~_ said monthly
<br />interest or the principal, when the same become due pursuant to the terms
<br />of the Mortgage F:ote given nn even date herewith, ~r a Failure to comply
<br />with any of the roregoing agreements, shall cause the said sum of money
<br />herein secured to become due and collectible at once at the notion of
<br />tt~e Mortgagee.
<br />Dated this ~~ day of November, 1980.
<br />'A/~
<br />Raymo 7. O'Connor
<br />ni S. O'Connor
<br />".r." !ac-.€..-.w ~~..7. ,..i-.,.~.:-~'~. -Fah
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<br />~~ ~~ta.a-1~. ~ i.~t-tcar~x_.~,~ _
<br />F, ~ 4 L DEVELOPMENT f;ROUP
<br />A Partnership, by~all Partners
<br />Niels C.. McDermott
<br />Vor n1~.~, /~~^M~epDermott
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<br />12~Tchard P. i l.lman ,
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<br />« Elizabeth Willman
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<br />Cares?s E. Cax~~nter
<br />Stat~x of Nebraska
<br />County of Hal'_
<br />The foregoing ~nstru~ nt was acknowledged before me this 24 day of
<br />Ntiveanber, I98u, by,nd ,T. O'Connor, Jennifer S. O'C_onnor. Thnmes r..
<br />~Y.atIIJiakr N3.e - ~7 [~EC~j'r -tt, Virginia A. McDermott, Richard I,. Carpe ntc r,
<br />Carole E. Car?" ~y,~ Willdtan, John M. Willman, Richard F. Willman
<br />and L'liaabeth Y1a~an, `Ps~rs, on behalf of Ts D, ~ L Development Group,
<br />A Fartr«s~8hi r.~,,;gµt~g~f•s thereon states.
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