|
<br />~ 1--u ~ 37'7.
<br />This mortgage made and entered into this 20th day of Ju ~ ,
<br />t9 81 , by and between Frontier Properties Corp.
<br />(hereinafter referred to as mortgagor) and Commercial National >3ank-and Trust Company
<br />{hereinafter referred to as
<br />mortgagce), who maintains an office and place of business at d2a w_ mt,; rd street in Grand Island;
<br />Hall County, Nebraska.
<br />Wi11VESSETH, that for the consideration hereinafter stated, receipt of which is hereby acknowledged, the mortgagor
<br />does hereby mortgage, sill, grant, assign, and convey unto the mortgagee, its successors and assigns, all of the fol-
<br />lowing described property situated and being in the County of Hall
<br />State of Nebraska.
<br />Lot Six (6), ICallos Subdivisior„ in the City of Grand Island,
<br />Nebraska
<br />together with alt the tenements and appurtenances thereto belonging, all the rents, issues and profits thereof, and all
<br />easements, rights, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and including
<br />all heating, plumbing, refrigeration, lighting, equipment and ail fixtures of every description belonging to the
<br />mortgagor now or hereafter attached thereto or used in connection 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. ([f none, state "none") Aone
<br />To have and Eo hold the saint unto the Mortgagee, as herein provided:
<br />The mortgagor is lawfully seized and possessed oi' and has the right to self and convey said property; that the
<br />same is free from 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 all persons whomsoever.
<br />This instrument is given to secure the payment of a promissory note dated July 20. 1981
<br />in the principal sum of ~ 24 noel _ nn ,signed by Donal d H xr r C.?ra t d G. Carmoney
<br />in behalf of Frnntiar Prnrwrt; as t'~+YL)
<br />also, as such mote or notes may from time to time be modified, renewer or extended in writing.
<br />In the event the title to said real estate is transferred, or contracted to be transferred, from the undersigned for any
<br />reason or by any method wttaiscever, the entire principal sum and accrued interest shall at once become due and
<br />payable at the election of the holder hereof. Failure to exercise this oprion because of transfer of title_as above stated
<br />in one instance shall not cons4itute a waiver of the right to exercise the same in the event of any subseyuent transfer.
<br />1, Tht mortgagar covenanu and agrees as foAows:
<br />a. Ta promptly pay the indebtedness evidenced by said promissory note at the times and in the manner
<br />therein provided.
<br />6. To pay all taxes, assessments, water rates, and other goveenmental or municipal charges, fines, or
<br />impositions, for which provision has not been made hereinbefore, and will pcomptfy deliver the oiticial receipta
<br />therefar to the said mortgagee.
<br />e. To pay such expenses and fees as may be incurred in the protection and ntaintcnance of sai[t proprrt},
<br />including the fees of any attarnry employed by the mortgagee for the coiirction of an} or all of the ind:btexine~,.
<br />hereby secured, or foreclosure by mottkagee's .ale. ~:r court pnx.=rdutg4, or in .uis ~uher tit~gat~t~ri nr t~r;sicrdtn
<br />affriting said propetty.
<br />
|