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REAL ESTATE MORTGAGE
<br />81-'~u5ss2
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That Plaza Square, a general partnership, organized and existing
<br />under the laws of the State of Nebraska, having its principal office
<br />in Grand Island, Hall County, Nebraska, in consideration of the sum of
<br />FOUR HUNDRED FIFTY THOUSAND DOLLARS ($450,000.00), receipt of which is
<br />hereby acknowledged, does hereby sell and convey unto The First National
<br />Bank of Grand Island, Grand Island, Nebraska, of the County of Ha71, of
<br />the State of Nebraska, the following described premises:
<br />LOTS ONE (I), TWO (2), THREE (3) AND FOUR (4) IN
<br />BLOCK SIXTY SEVEN (67), IN THE ORIGINAL TOWN, NOW
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />the intention being to convey hereby an absolute title in fee simple.
<br />To have and to hold the premises above described with all appurtenances
<br />thereto belonging unto the said mortgagee, and to its successors and
<br />assigns forever, provided, and these presents are upon the express condition
<br />that if the said mortgagor, its successors or assigns shall pay, or cause
<br />to be paid, to the said mortgagee, its successors or assigns, the principal
<br />sum of FOUR HUNDRED FIFTY THOUSAND DOLLAR5 ($450,000.00), payable one year
<br />from the date hereof with interest at the rate of one-half percent above
<br />the prime rate of the bank in effect from time to time. The rate will
<br />change if and when the prime rate of the bank changes, with the initial
<br />note rate being eighteen (18.00%) percent per annum, according to the
<br />tenor and effect of the mortgagor's written Promissory Note bearing even
<br />date with these presents and shall pay all taxes and assessments levied
<br />upon said real estate and all other taxes, levies and assessments levied
<br />upon this mortgage or the note which this mortgage is given to secure
<br />before the same become delinquent, then these presents to be void, otherwise
<br />to remain in full force.
<br />IT IS FURTHER AGREED:
<br />1. That if the said mortgagor shall fait to pay such taxes, the
<br />mortgagee may pay any such taxes and the sum so advanced with interest
<br />at the maximum amount allowable at law shall be prepaid by said mortgagor
<br />and this mortgage shalt stand as security for the same,
<br />Z. That a failure to pay any of said money, either principal or
<br />interest, when the same becomes due, or a failure to comply with any
<br />_ of the feregosng agreements shall cause-the whole sum-of money herein
<br />secured to become due and collectible at once at the option of the mortgagee.
<br />Dated this ~_ day of December, 19
<br />PL
<br />BY
<br />ALL OF THE PARTNERS
<br />STATE OF NEBRASKA)
<br />55
<br />COUNTY OF HALL )
<br />The foregoing instrument was acknowledged before me this ~ day of
<br />December, 1981 by R. E. Stephens, Don Huismann and Alvin Alms, part~ers, on
<br />behalf of Plaza Square, a general partnership, z ,,,
<br />,~
<br />MY Commission Expires:
<br />~1iCc~liq tOM~
<br />Mrawr., i~w ac ai, r~
<br />C~~C- G~~
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