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<br />83-fJ01893
<br />
<br />PURCHASE MONEY REAL ESTATE MORTGAGE
<br />
<br />r
<br />
<br />RAYMOND C. ENGEL and MILDRED L. ENGEL, husband and wife, Mortgagors,
<br />in consideration of FORTY-FOUR THOUSAND EIGHT HUNDRED DOLLARS ($44,800.00),
<br />mortgage to MARGUERITE HARRIS TREAT and ALBERT TREAT, husband and wife,
<br />as joint tenants and not as tenants in common, Mortgagees, the following
<br />described real estate situated in Hall County, Nebraska:
<br />
<br />An undivided one-third (1/3) interest in the Northeast Quarter
<br />(NE~) of Section Ten (10), Township Nine (9) North, Range Nine
<br />(9) West of the 6th P.M. in Hall County, Nebraska,
<br />
<br />subject to covenants, conditions, restrictions, reservations, easements
<br />of record, visible easements and zoning codes, laws and regulations.
<br />
<br />This Purchase Money Real Estate Mortgage is given to secure payment
<br />of the principal sum of $44,800.00 and interest from March 25, 1983, at
<br />nine (9) percent per annum, payable according to the terms of a Purchase
<br />Money Promissory Note dated March 25, 1983, in seven (7) annual consecutive
<br />installments of $6,400.00 each, commencing March 25, 1984, plus interest
<br />on the unpaid balance of principal payable annually with each annual
<br />installment of principal, and on March 25 of each year thereafter for
<br />eight (8) consecutive years until the final annual installment is paid on
<br />March 25, 1990, together with interest on the unpaid balance of principal.
<br />
<br />The Purchase Money Promissory Note provides time is of the essence
<br />of the Purchase Money Promissory Note and, if default is made in the
<br />payment of any installment of principal or interest for more than one
<br />hundred twenty (120) days, the holder of the Purchase Money Promissory
<br />Note may, without notice or demand, declare the entire principal sum then
<br />unpaid, together with accrued interest, immediately due and payable. Upon
<br />default of payment of any installment, the unpaid balance of principal
<br />bears interest at the highest legal rate.
<br />
<br />Mortgagors agree to pay all taxes and assessments upon the real
<br />estate and all other taxes, levies and assessments levied upon this
<br />Purchase Money Real Estate Mortgage and the Purchase Money Promissory
<br />Note which this Purchase Money Real Estate Mortgage is given to secure
<br />before payment is delinquent. If Mortgagors fail to pay the taxes or
<br />assessments before delinquent, Mortgagees may pay the taxes or assessments
<br />or other liens and are given a lien secured by this Purchase Money Real
<br />Estate Mortgage for the amounts advanced, with interest at the highest
<br />legal rate.
<br />
<br />Mortgagors have the right to prepay the unpaid principal of the
<br />Promissory Note by paying additional installments of principal on any
<br />annual installment payment date, without penalty, stopping interest on
<br />the amount prepaid, but without affecting the obligation to pay the
<br />remaining required annual payments of principal and interest on the
<br />unpaid balance when due.
<br />
<br />If Mortgagors default in payment of the indebtedness or any install-
<br />ment of principal and interest for more than one hundred twenty (120)
<br />days, or fail to perform any of the other agreements in this Purchase
<br />Money Real Estate Mortgage, Mortgagees, at Mortgagees' election, may
<br />declare the entire debt secured by this Purchase Money Real Estate
<br />Mortgage due and payable at once, and foreclose this Purchase Money Real
<br />Estate Mortgage for the satisfaction of the total amount due.
<br />
<br />Dated: March.;? ~1-- , 1983.
<br />
<br />/: . l7 " ;:: (/
<br />iIJ a~7-7~t'f . (" I /Z- c ck.\(
<br />/ (Raymond C. Eng~
<br />
<br />'-;~', ,",/ ...( ):c <~ ",/
<br />_ ,_,/, /':&LU - . .C /"~"'.. _
<br />(Mildred L. Engelv
<br />
<br />STATE OF NEBRASKA, COUNTY OF HALL:
<br />
<br />The foregoing instrument was acknowledged before me this
<br />4~~~e /~ , 1983, by Raymond C. Engel and Mildren L. Engel,
<br />husba and wife, Mortgagors.
<br />
<br />,_'&'-~~~~t!aJ p~~i~'~"'~
<br />
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