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<br /> %'��U.Cr4 7s4 REAL ESTATE MORTGAGE
<br /> RONALD D STAHLNECKER AND RUTH E TAHLN K R husband and wife each in his and
<br /> her own right and as spouse ot the other
<br /> of the County o+'- Hal � and State of Nebr. tiereinafter calIed the"
<br /> � P�rtY of the £�rst part,in ' '
<br /> :�CODStd¢I'AflOfl Of �� . . . � ���Q--^-----�__________________.-__-._- . ,�.. �,. �. . . .
<br /> FORTY-ONE THOUSAND AND NO
<br /> _DOLLAR5, I
<br /> la hand paid, do hereby grant,bargain,sell aad convey uato the Home Federal Savings&Loan AssociatIon of Grand Island,
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<br /> Grand Island,Nebras$a, and its successors and assigns, the following real estate,situated io Ha I I
<br /> � CountY� State of Nebraska Y, towit:
<br /> ' , ` LOT TWO (2), WESTERN HEIGHTS 3RD SUBDIVISIUN, HALL COUNTY, NESRASKA
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<br /> Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real estate �
<br /> � and all the rents,iasues and profits arising therefrom after default ia performance of any covenant or condiUon herein con�
<br /> tained; and warrants the title thereto pertect and clear except for tlus mortgage. �
<br /> During the time thls mortgage is in force the mortgagors agree:
<br /> � F'irst. To pay all taxes and special assessments levied against said premises,3ncluding aIl taxes and assessments levied �
<br /> upon this mortgage,or the debt secured by this mortgage.
<br /> Second. To keep all buildings thereon insured agaiast loss by fire, lightoing and tornado in some company,to be ap-
<br /> � proved by the said Home Federal Savings & Loan Association of Grand Island in the sum of$ �n�u ra h I P va i u P for
<br /> the beneEit of the said Association,and its suecessors or assigns; and to deposit said policies with said Association,and shall aot � ,
<br /> commit or suffer any waste on said premises, and shall put and keep said real estate buiidings and imgrovements'in good
<br /> ; order. '
<br /> ThIrd. To pay or cause to be paid to the Eiome Federal Savings & Loan Association of Grand Island, its successors or �
<br /> assigns,the sum of$ FORTY-ONF TNOIISAN� AN� Nn/I(ln--------------------- - DOLLARS,
<br /> payable as follows:
<br /> �
<br /> � $41,000.00 due September I, I978
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<br /> � with interest thereon payable;according to the tenor and effect of the one certain first mortgage note of said mortgagors, �
<br /> bearing even date with these presents. After maturity said bond draws interest at the rate of nine per cent per annum.
<br /> � If said taxes and assessments are not paid when due, or if the buildings on said premis�es are'not insured as abave pro- �:
<br /> vided,or if any of said interest is not paid when due,then said whole debt shall become due immediately,at the option of the �.
<br /> % said Association,and shall thereafter draw interest at the rate of nine per cent,per annum.
<br /> The mortgagor_S hereby assi�s to said mortgagee all rents and income arising at any and all times from said �.
<br /> property and hereby authorize said mortgagee or its agent, at its option, upon default, to take eLarge of said property and �
<br /> � .collect'all rents and income'therefrom and apply the same to the payment of interest, principal, insurance premivais,taees,
<br /> assessments, repairs or improvements necessary to keep said property in tenantable condition, or to other chu�ges or pay- �
<br /> � menta provided for herein or in the note hereby secured. This rent assignment shall continue in force untll the unpaid bal-
<br /> aace of eaid note is fully paid.The taking of possession hereunder shall in no manner prevent or retard said mortgagee in �
<br /> the collection of said sums by foreclosure or otherwise.
<br /> Whether said debt becomes due by lapse of time, or by reason of the#a�lure of the party of the ftrst part ta comply �
<br /> � with any eondition herein, the said Home Federal Savings & Loan Association of Grand Isiand, the successors and assigns,
<br /> shall have the rigbt to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to inelude �
<br /> therein all t�es, assessments, insuraace premiums and costs, paid by it or them; or said Association, its successors or
<br /> � assigns, may foreclose only as to the spm past due, without injury to this mortgage, or the displacement or impairment
<br /> of the lien thereof. �"�
<br /> And the said first party and the makers of said note, especially agree and declare that the separate estate of each and rv�G
<br /> every one of them, inciuding both that now owned xnd that hereafter acquired, is pledged and bound for the payment of �
<br /> � the debt herebY secured. r'+
<br /> After the commencement of any suit in foreclosure the plaintiff therein shall be entitled to the immediate possession af �
<br /> said premases and the appointment of a receiver therefor, notwithstanding they may be fhe homestead of the cecupant and
<br /> notwithstanding the parties liable for the debt may be solvent, and the first party hereby consents to the appointment of a �
<br /> Receiver upoa the production of this indenture, wIthout other evidence. •
<br /> The foregoing coaditions and agreements, all and singular,being fully performed,this conveyance shall be void, other � ����
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<br /> wiae to be and remaia in full foree aad effeet. ,, • !e;�°k.
<br /> � SiSned ttiiA i 9th aay os Auqust � 77 J r,
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<br /> ' In presence of `�����,�T�Si!7 l).��iLf,(_yL.�YL�9�-R� '
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<br /> �.-.� � ��.�i G ,Lt"o�N�.,., n�id � . � . � .. • �_�. . .�. �. � � .
<br /> R�JTH E. STAHL.NECKER
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