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8Z-0027$9 MORTGAGE
<br />This mortgage made and etrterett into this 29th day of l9*tiY _
<br />lg Ai by and betwetn Frontier Properties Corp.
<br />(Hereinafter referred to as mortgagor} and Commercial National Bank and Trust Company
<br />(heranafter ieferr~ [o
<br />mortgagee): who maintains an office and place of business at 424 west Third sutxt is t~rartd 1sCand,
<br />Hall County, Nebraska. .
<br />VtrtT>~33ErEt, that for the consideration hereinafter stated, receipt of which is hereby acknowledged,. the mortgagor
<br />does hereby mortgage, sell, grant, assign; and convey unto the mortgagee, its succssaors and assigns, til of the fol-
<br />Iowing described property situated and-being in the County of Hall-
<br />State of Nebraska.
<br />Lot Three (3), Kallos Subdivision in the City of Grand Island, Nebraska.
<br />together with all the tenements and appurtenances thereto belonging, all rho rents, issues and profits thereof, and all
<br />easements, rights, royalties, mineral, oil and gas tights and profits, water, water rights, and water stock, and including
<br />all heating, plumbing, refrigeration, lighting, equipment and aH fixtures of every description belonging to the
<br />mortgagor now err hereafter attached thereto or used in canttection with the premises herein described and in addition
<br />thereto the following described properties which are and shall be deemed to be fixtures and a part of the realty, and
<br />are a portion of the security for the indebtedness herein stated. flf none, state "none")
<br />To have and to hold the sartx unto the Mortgagee, as herein provided:
<br />The mortgagor is IawfuHy seized and possessed of and has the right to wll and convey said property; that the
<br />same is free troth all encumbrances except as hereinabove recited; and that Mortgagor covenants to warrant and
<br />defend the title aforesaid thereto and every part thereof against the claims of alt persons whomsoever.
<br />This it>&trutnent is given to secure the payment of a promissory Wort dated Merv 29 1981
<br />is the principal sum o€ S~a_Qnn_oo ,signed by Donald H. Kruse President
<br />in behalf Of t*rn*+r ' pr ym~~Tt-i ~.~+,
<br />atw, as such nme or notes tray from time to dine be modified, renewed or extended in writing.
<br />to the evert the title to said real estate is transferred, or coatraaed to be transferred, from the undersigned for arty
<br />tpapti err by say-method whatsoever, the enftre principal sum and accrued interest shall a[ orue become due and
<br />payable at tip eleMion of the luslder hereof. Failure to exercise this option i,ecause of transfer of cige as above stated
<br />is Otte imtauce shag sot conatituir a waiver of the right to exercise the setae in the event of any subsequent transfer.
<br />1. The mortgagor covsutants and agrees as follows:
<br />a, To prornptiy pray the-ie~ebtedtt~s rvidenecd by said promissory note at the tithes and in the manner
<br />thereia providixl:
<br />b. To pay all taxes, assessments, water rates, and other governmtntai or mun'tcipai charges, fines, ur
<br />fret w'ldeh provision has not tram made hereinbefore, and will promptly deliver the official raeipt+
<br />tfor t1s the ts~ rtmrt8uce.
<br />t. To pay sutett expertats atxt fees as maY be incumd in the protection and maintenance of said prnpcrtt.
<br />~ the tees of any attorney employed by th< mortgagee fitr the coltes~tion of any or all of the indtbtcdnrss
<br />hereby €tcttr¢d, .rr ftxtclasurt by tMOrtaSgtB's salt. w ctwrt prteertitirtgs, or in any other litigaticln tx prrti:etdin~
<br />affextir~ saitf ptoptrts.
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