|
<br />This mortgage made and entered into this loth day of November ,
<br />14 81 ,by and between Mid-Continent Enterprises, Inc.
<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 West 3rd street in Grand Island,
<br />Hall County, Nebraska.
<br />Wrrt~esse'rH, 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 successors and assigns, all of the fol-
<br />lowing described property situated and bein,• in the County of xall
<br />State of Nebraska. Lot One (1) , Three (3} , Seven (7) , Eight (8) , Nine (9) , Ten (10} , Eleven
<br />(11), Twelve (12), Six*_een (16), Nineteen (19), Twenty (20), Twenty-One (21), ;'`.+enty-
<br />Two {2"l), Twenty-Three (23), Twenty-Five (25), Twenty-Six (26), Twenty-Seven (27j,
<br />Twenty-Eight (28), Twenty-Nine (29), Thirty (30), Thirty-Two (32), in Block One (1)
<br />in Continental Gardens, an Addition to the City of Gsand Island, Hall County, Nebraska.
<br />Lot Thirteen {13), Fourteen (14), Twenty (20}, Twenty-One (21), in Block Two {2a in
<br />Continental Gardens, an .addition to the City of Grand Island, Hall County, Nebraska.
<br />A tract of land comprising a part of Lot One (1) of Fractional Section Seven (7) and
<br />Part of the West Half of the Northwest Quarter (W~tNW~) of Section Eight (8), all in
<br />Township Eleven (11) North, Range Nine (9) West of the 6th P.M., City of Grand island,
<br />Hall County, Nebraska and more particularly described as follows: Cottttaencing at the
<br />NW corner of Lot 1, Block 20, University Place, an Addition to the city of Grand Island,
<br />Nebraska; thence N88052'00" W (Assumed Bearing) along the southerly right-of-way line
<br />of College Street a distance of 429.00 feet to the point of beginning; thence S0044'00"W
<br />a distance of 306.37 feet; thence N 89016'00" W a distance of 18.00 feet; thence SO°44'00"W
<br />a distance of 234.00 feet; thence N88052'00"W a distance of 473.64 feet; thence NO°44'00"E
<br />a distance of 387.00 feet; thence N42047'17"E a distance of 214.57 feet to a point on the
<br />southerly rightrof-way line of College Street; thence on a curve to the left (Chord bearing
<br />581°58'36"E, radius being 237.00 feet) an arc distance of 57.00 feet to a point tangency;
<br />thence S88°52'00" E along said southerly R.O.W. a distance of 291.51 feet to the point of
<br />beginning sai3 tract of land containing 5.764 acres, more or less.
<br />Lot Six (6), Seven (7), Eight (8), Nine (9), Ten (10), Eleven (11}, Twelve (12), Block
<br />Seven (7), Unit Taro (2), in Continental Gardens, an Addition to the City of Grand Island,
<br />Hall County, Nebraska. Lat Tweu~y-Two (22), 9wenly-Three (23), `twenty-Six (26), Twenty-
<br />Seven (27), Twenty-Five (25}, Block Seven (7), Unit One (1), in Continental Gardens, an
<br />Addition to the City of Grand Island, Hall County, Nebraska. (See attached sheet)
<br />together with all 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 stack, and including
<br />all 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 additian
<br />thereto the following described properties which are and shall be deemed to be fixtures and a part of tht realty, and
<br />are a portion of the security for the indebtedness herein stated. {If Wane, state "none") Nona
<br />To have and to hold the same unto the hAortgagee, as herein provided:
<br />The mortgagor is lawfully seized and possessed oC and has the right to sal and convey said property, that thr
<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 al! persons whomsoevrr.
<br />This instrument is given to secure the payment of a promissory note dated November 20, 1981
<br />in the principal sum of S 150L000.00 __ __, signed by Glenn R. Wilson, Jr.
<br />in behalf of Mid-Continent Enterprises, Inc. _____ ___ _T
<br />aLxo, as such note or notes may from time to time be modified, renewed or extended in writing.
<br />In the event the title to said rest estate is transferred, or contracted to be transferred, from the undersigned for any
<br />reason or by any ttuthod whatsoever, the entire principal sum and accrued interest shall at ante become due and
<br />payable at the election of the holder hereof. Failure to exercise this option because of [ransfer of title as above stated
<br />in one instance shall not constitute a waiver of the right to exercise the same in tht event of any subsequent transfer.
<br />The ttt~tgagor covetants and agree; as follows;
<br />a. To promptly pay the ittdebtedntss evidenced by said pramissary note st the times and in the ntantter
<br />therein provided.
<br />b. To pay all taxes, assessments, water rates, and other governmental ar municipal charge., fines, ~~t
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the official receipt.
<br />therefor to the said martgagee.
<br />c, 1'o pay such expensrs and fees as may be imurred in the prates~tian and ntaintrnauce of said propety,
<br />itxtuding the fees of any attorney crnplayed by the mortgagee for the catlectian of env or all of the indebtedness
<br />hereby ses'ured, or furct:Eosurc by morig;tgcc`v vale, or ~uutt prcxxeedingv, of in env ether Dupation of prcheedutu
<br />aCfeCting .ard ~rGrperty
<br />
|