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1Vi®~'T~A~E
<br />~ 1--1i u 3 7'73
<br />This mortgage made and entered into this . 20th -day of __ 3uly ,
<br />19_$1,_, by 2nd between Frontier Properties Corp.
<br />(hereinafter referred to as mortgagor) and Commercial National Bank and Trust Company
<br />(hereinafter referred to as
<br />mortgagee), who maintains an office and place of business at _ 424 w. Third street in Grand Island,
<br />Hall County, Nebraska.
<br />WtTNESSETH, 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 mortgages, its successors and assigns, all of the fol-
<br />lowing described property situated and bring in the County of xall
<br />State of Nebraska.
<br />Lot Nine (9), Kallos Subdivision, in the City of Grand Zsland,
<br />Nebraska
<br />together with all the tenements amt appurtenances thereto belonging, alt the rents, issues and profits [hereof, and all
<br />easements, rights, royalties, mineral, oil and 4as rights and profits, water, water rights, and water stock, and includir;b
<br />a!I 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 shalt be deemed to be fixtures and a part of the realty, and
<br />aze a portion of the security for the indebtedness herein stated. (lf none, state "none") None
<br />To have and to hold the same unto-the Mortgagee, as herein provided:
<br />Ttae tnong~or is lawfully seized and possessed of and has the right to sell 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 />defettd the tide aforesaid thereto and every part thereof against the claims of al! persons whomsoever.
<br />This instrument is given to secure the payment of a promissory note dated Jy]y 20. 1981 ___ v
<br />in the principal sum of $ X4,.000.00 ,signed by Donald x. Kruse, Gerald G. Carmoney
<br />in behalf of Frontier Properties Corp. ___~_
<br />also, as sacra note or notes may froth time to time be modified, renewed or extended in writing.
<br />Its the event the title to said real estate is transferred, or contracted to be transferred, from the undersigned for any
<br />reason of by any method whatsoever, the enure principal sum and accrued interest shall at once become due and
<br />payable at the election of the holder hereof. Failure to exercise ttJs option because of transfer of title as above stated
<br />is one,instance. shall hat constitute a waiver of the right to exercise the same in the event of any subsequent transfer.
<br />1. The mortgagor covenants and agrees as follows:
<br />* a. 'Fo praanptly pay the indtbtedttess evidenced by said promissory nose at the times and in the manner
<br />thereits prQViekd.
<br />b. To pay all taxes, assessmetlts, water rates, and other gavcrnntental or municipal charges, tines, ar
<br />itnpaait'totts, for which provision has hat been made ltereinbefore, and will promptly deliver the afficiai receipts
<br />thert:for to the said tnortga$ee.
<br />c. To tray such expenses and fats as may be incurred in the Protection and ma;iotenancc .zt said pe<?pc:n~,
<br />including the fees of any attorney employed by the mortgagee-Far the callectian cif any or all of the indebteclnrss
<br />hereby aecured, or foreelosurc by marigagee's safe, ar court prac~c~dnrgs, ar in an> ether litigation nt PraaseduEn
<br />affecting o-aid prapgrt}'.
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