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<br />SECOND REAL ESTATE MORTGAGE ~~ """- ~}(~LJL20b
<br />RAY M. POEHLER and LINDA L. FOEHLER, husband and wife, each in his and
<br />her awn name and right and as spouse of each other, Mortgagors, in considera-
<br />tion of TEN THOUSAND DOLLARS ($10,000.00) received from Mortgagee, mortgage
<br />to EDNA R. CODNER, Mortgagee, the following described real estate situated in
<br />Hall County, Nebraska:
<br />A tract of land in the Northeast Quarter (NE's) of Section Twenty-
<br />Nine (29), Township Twelve (12} North, Range Eleven (I1) West of
<br />the 6th P.M., in Hall County, Nebraska, described as follows:
<br />Commencing at the North quarter corner of said Section,,•thence East
<br />on section line a distance of 759.0 Feet to a paint on section line
<br />which is the actual point of beginning: From this point, southerly,
<br />at an angle of 90° 00' to the right from the section line a distance
<br />of 438.0 Feet, thence easterly at an angle of 90° 00' to the left a
<br />distance of 596.7 Feet, thence northerly at an angle of 90° 00' to
<br />the left a distance of 438.0 Feet, thence westerly on section line
<br />a distance of 596.7 Feet to the actual point of beginning, said
<br />tract containing Six (6) Acres, more or less.
<br />This Second Real Estate Mortgage is given to secure the payment of the
<br />principal sum of Ten Thousand Dollars (510,000.0.0) and interest from February
<br />2, 1981, at twelve and one-half (12'x) percent per annum, payable in install-
<br />ments according to the terms of a Promissory Note dated February 2, 1981,
<br />executed and delivered by Mortgagors to P•iortgagee, interest being payable
<br />semi-annually on the first day of rr^ebruary and August in each year commencing
<br />on August 1, 1981, and principal payable in equal annual installments of
<br />$2,500.00 each on February 1 of each year commencing February 1, 1982, and
<br />continuing until February 1, 1985, at which time the last installment and any
<br />other unpaid balance of principal and all interest accrued is due and payable.
<br />The Promissory Note provides that time is of the essence of the Promis-
<br />sory Note, and if default is made in the payment of any installment of
<br />principal or interest, the holder of the Promissory Nate may, without notice
<br />or demand, declare the entire principal sum then unpaid, together with accrued
<br />interest thereon, immediately due and payable. Upon default of payment of
<br />any installment of principal, the unpaid balance of principal bears interest
<br />at the highest legal rate.
<br />Mortgagors agree to pay all taxes and assessments upon the real estate
<br />and all other taxes, levies and assessments levied upon this Mortgage and any
<br />prior Mortgage and the Promissory Note which this ?irtgage is given to secure
<br />before payment is delinquent. Mortgagors agree to pay all maturing install-
<br />ments of principal and interest oi: the maturity oc installments of principal
<br />and interest of any prior Mortgage and to procure insurance on the real estate
<br />insuring the buildings and improvements on the real estate from damage by
<br />fire or other casualty in an amount equal to at least the total unpaid princi-
<br />pal of this and any prior Mortgage, loss, if any, payable to the Mortgagee or
<br />Mortgagees of any prior Mortgage and the tdortyagee of this mortgage. If
<br />Mortgagors fail to pay the taxes and assessments before delinquent or procure
<br />the insurance as required by this Second Real Estate Mortgage, tortgagee may
<br />pay the taxes and assessments or other liens or procure the insurance and is
<br />given a lien secured by this Second Real Estate Mortgage for the amounts
<br />advanced with interest at the highest legal rate.
<br />If Mortgagors default in payment of the indebtedness or any installment
<br />of principal or interest, or fail to perform any of the other agreements in
<br />this Mortgage, Mortgagee, at iortgagee's electicn, tray declare the entire
<br />debt secured by this Mortgage due and payable at once, and foreclose this
<br />Mortgage far the satisfaction of the total amount due.
<br />/~f`~~D~~a)ted: February 2, 1981.
<br />'(Ray M. Poeh er) (Linda L. Poc~ ler}
<br />STATE OF NEBRASKA, COUNTY OF fiALL:
<br />The foregoing instrument was acknowledged before m2 this February ~y ,
<br />1981, by Ray ,`-4. Poehler and Linda L. Poehler, husband and wife, each in~i~s
<br />and her own name gad right and as spouse o ea~•h other, ~Iartgayars.
<br />~.HOnunh~e[.~e~,,.. 'T ^------- T+'Q tdrv~ Pllbl1.C;
<br />CS°C7THY S. tANa
<br />*e C nn ELF ieD
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