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M®R'TGAGE
<br />~1-- UG3772
<br />This mortgage made and entered into this 20th day of .jut y ,
<br />14_B1_, by and between Frontier Properties Corp.
<br />(hereinafter referred to as mortgagor) and Commercial National Bank and Trust Company
<br />{hereinafter referred to as
<br />martgagce), who maintains an office and place of business at 424 W. Third street in Grand Island,
<br />Hall County, Nebraska.
<br />WITNESSETtt, 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 mcrtgagce, 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 Eight (8), Kallos Subdivision, in the City of Grand Island,
<br />I3ebraska
<br />together with all the tenements and appurtenances thereto belonging, al! the rents, issues and profits thereof, and all
<br />easements, rights, royalties, mineral, oil and gs righu and profits, water, water rights, and water stock, and including
<br />a!t heating, plumbing, refrigeration, lighting, equipment and all 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, (If none, state "none") tdone
<br />To have and to hold the same unto the Mortgagee, as herein provided:
<br />The tortgagor is lawfully seized and possessed of and has the righ[ to sell and convey said property; that the
<br />same is free from alt 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 at! persons whomsoever.
<br />This instrument is given to secure the paymen[ of a promissory note dated July 20, 1981
<br />in the principal sum of $4.000 00 ,signed by t]onald H. Kruse, Gerald G. Carmoney
<br />in behalf of Frontier Proy~~ties Cnrp.
<br />also, as such note of notes tray from time to time be modifted, renewed or extended in writing.
<br />In the evert[ the title to said real estate is transfetted, or contraMed to be transferred, from the undersigned for any
<br />reason ce by any method whatsoever, 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 option because of transfer of title as above stated
<br />in atte instance shall not constitute a waiver of the right to exercise the same in the event of any subsequent transfer.
<br />I. The mortgagor covenants attd agrees as foAows:
<br />a. Ta promptly pay tl~ indebtedness cvidcaced by said promissory note at the times and in the manner
<br />therein prssvidrd,
<br />b. To pay at[ taxes, assessments, water rates. and ocher governmental or municipal charges, fines, or
<br />impositions, for which provision has not beer[ made hercinbefore, and will promptly deliver the official rctieipts
<br />tt~refor to the said mortga~;cs.
<br />c. Ta paY such expenses and fees as [nay be incurred in the protection and maintenance o!' said proper[}.
<br />iucluding tlse Ernes of any attorney employed by the mortgagee for the rolleetion of any or alt of the indebtedness
<br />hereby seiured, or for<tilosurr hk ntortgagee's sale, or court prtxeedinttt. <jr sn alts other titi(;aticm ex r~cxecdx}
<br />offectirtg 4aK! prespertg
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