|
X11 ~ ~ l' G ~ ~ 8~--- u~~ ~s9~
<br />TI:iSIndenture,Madebyandbetween THE ABUi+7DANT LI',FE CHRISTIAPI CENTER, a. Nebraska. .,
<br />COY`j30T'_a.~lOn .. ...... whether one or more hereinafter referred to as mortgagor
<br />and THE OVEItI,Ai+ID N.4TIt~TAL BANK OF GRAPID ISiAND, Grand Island, Nebraska, hereinafter
<br />referred to as Bank
<br />The Mortgagor for and in consideration of ($ 200., QQO.00 1 ----_-__-__ -___-~_- ______
<br />Tim Ht7NDI~ THOUSAPtt) AND. , NO[ 100------------------- ---.-DOId.AR.S, paid 6y the bank.
<br />_.. _
<br />the receipt whereof is hereby acknowledged, has granted, bargained. sold and rnnveyed and by the presents, dcee grant,
<br />bargain, sell and co;rvey, unto said bank, the following described real property situated in the County of .Hall
<br />and State of Nebraska, co-wit:
<br />A tract of land canprising a part of the Northeast (}darter of the Southeast 6Zuarter (NE~SE~)
<br />of Section 'Illirteen (13}, Township Eleven (11) North, Range Ten (10) West of the 6th P.M.,
<br />in Hall County, Nebraska., crnmletely described on the attached legal description.
<br />In affixing our signatures to this rfmrtgage, the President and Secretary hereby certify
<br />that this mortgage has been duly authorized by the vote of the membership of The Abundant
<br />Life Christian ('.enter at a special business meeting held on October 18, 1981.
<br />together with all the tenements, herediUVnents and upptu'tenarues to the Same belonging, and all the estate, tiller claims and
<br />demands whatsoever of the mortgagor of, in ~,r to said premises or any part, thereof: and said mortgagor does hereby cov-
<br />enant, that the mortgagor is h•s fully saized of sold prermses, that said pr€mises are free from incumbrance and mortgagor
<br />wilt warrant and defend rite tithe t.. sold premises against the claims and demands of all persons wfiomeoever.
<br />PROVIDED ALWAI'S, and these presents are upon these rnn,litions:
<br />WHEREAS, the murtgag,a' has eac<vr.•d and dclivenw v. the Bank a CCT't31I1 promissory note
<br />dated Novstlber 27, 1981, for $200,000.00 at the prime rate of T.he Overland National Bank to
<br />be adjusted on the first day of each month; said note calls for interest only on December 31,
<br />1981, and January 31, 19$2, with monthly principal pay~[nents of $3,333.33 each, plus acceded
<br />interest, camlencing on March 1, 1982, and on the first day of each month thereafter until
<br />February~_n1j. T1987,~}w~hen a final payment equal to the entire unpaid principal balance plus
<br />~~>;[ert#'PC25 nt~Tlf-~t•.~in~fPSrm one :~xtt=n:i+•a .~•,t'rra;;c csurance on =ard premises in amounts requited and in
<br />companies apprvved by the hark amt ~crtF ~1.aro:a*d nmrtsrag,~,•ixuses :vlach noliries shall be delivered to the bank, and has
<br />agreed to pay x11 lases and assessments !cra•~i ae;tin,t ;airi pmnuses before the scone twcnme delinquent and to maintain said
<br />premises.
<br />Now, therefore, if the mortgagor shah, comply •a~ith all of the provisions of ,aid note and the provisions hereof, then
<br />these presents Shull be null xmi cool.
<br />However, if the above auR• and mn•rest 'here,m ~:,r any pa}vuents utlkd for thereon are not paid when due or if any
<br />of the covenants of this instrument arc not :untpiie; wuh. the hunk, or the holder hereof, :u its option may declare the re-
<br />maining balance u£ s-uid indebtedness ..i :u:d nayai:i, an:i may maintain nn :,coon ut law ur in equity to racover all amounts
<br />due and enforce the pruviwons hen•uf. In tine evt~nt •d tier }ail ure .,f mortgagor to maintain the. premises, or to maintain
<br />insurance as is above provided fm~, or to nay tuxes ur assessments, the balder hereof tmt}^ advance the sum cr soma necessary
<br />to obtain compliance and such amounts shnii be added to the amount due on the strove mentioned note and bear interest at
<br />the highest legal rate.
<br />IT IS FORTHER AGRt: F.D, this mortgage shall constitute .:oti,~e herrcf, that this mortgage is security for not only
<br />th€ amount advanced concurrently with the ~^xcrutiu*. hereof hot all future advances which muy br matte at the option of the
<br />parties or their assigns up to the total amount stated in ties mortgage, to the ;ame extent as adv¢nces originally made here-
<br />under. Further notice is hereby given that the tenor of each Hertgage lute including the interest rate, payment, maturity,
<br />penalties, and oth€r terms shs!1 eunrurrertiy upon r•xc•cutiun ,.•.omr ;:art •.f tku= n+,•rtg;ige.
<br />IT IS FtiRTHER AGREED, that the ,aid !!+>rtKags,e• sl;a!? unci w:il ,zuy all taxes _evied upc»t this mortgage or the debt
<br />ael'llred thereby, together with any OLtier t-c-~ uP tla --5n+c+ita tiicb only . ~.NEii ilndc'i the t.E:Ktl UI tifbra5k$, aga122at i.12@
<br />slid Mextgagee or the legal holder of [he said prutcipal notuts) uu nt room ::I this indebtedness.
<br />IT IS FUFTHER AGREF, ~), if a[ any ii nt.•., whilo t1u~ mortgage is' fn effect and the note fm• which this mortgage is
<br />given as security, ur any part th.•reof, remains unpaid, the undenignrd ~Ior-egx~cors sell, convey or runt rant to sell the real
<br />estate herein described, or any part thereof, or the ]iortga goes du nut hive or .rase In have title to ;anl real estate or any
<br />pall thereof, then and in any such events, tier Mortgagee utay, xt its option, declare Use unpaid principal bulanee, and interest,
<br />of the note secured hereby immediately due and papuble. In the event that these premises ;tee not now, nr should hereafter, not
<br />be occupied by mortgxgm' then this mstrunu•ut shall ,unci±ure nn nssigtuoent oC rentals an+l service oC a copy thereof upcm the
<br />occupant shall be sufficient to require all payment for renptl ur use of [he promises after date ut such service ut made to
<br />mortgagee.
<br />Signed this........ 27th. _ day of November.. . II+.. 81.
<br />In presence of 'II'IF_ ~~~ ... .....
<br />ATIESP:
<br />BX.: .. ..._.....
<br />H.'• T', I,orig, Secretary ~ Donald old; Presi
<br />................ ~=1 BY~--x.-
<br />*****A~,?ITICIVAL SIGNAT()RES QN NF~.~P PA(~*****
<br />STATE aunty n
<br />Before me, a notary Pubiir qualified for said county, perunslly same
<br />known to me to be the identical ;:c rson or t.ers,~ns tch~, sictncd tt;r Coregu$tg instrument and acknowledged the execution there-
<br />of to be hie, her nr their voluntary act and decd.
<br />Witness my hand and notarial seal an l9.
<br />My commission expires: ... .. !ll tioGuy Yuhlic,
<br />STATE OF ........ ..._..... .. { E:ntc•r,~d ou numerical imiex unil filed Car record
<br />{ Vb.
<br />County ............ n tl;e Rey; tster :.t Fleeds tlffiee <•{ ,tali{ t'uunt}' the
<br />' ..........day of. 1:+. at r; !„rti and nr,nutes St.,
<br />and rewrded in Rook..... - :tf at parse
<br />fteK. of IJeeda
<br />R}. !r€put}_
<br />
|