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<br />� ; RE�4L ESTATE MORTGAGE �
<br /> �JERRY L SCHULTZ AI�D LINELL S. SCHULT7.., husband and wife, each in his and her cwn
<br /> right and as spouse of the othar �
<br /> of the County of Hc I I and State of �lebraska hereinafter called the party of the tirst part,in � �
<br /> ~ Conslderet�nn nf TWENTY-N I NE THOUSAND AND NO/I 00 ------------------------'-'-----"_DOLLARS, `'
<br /> - itt Land pald, do hereby grant,bazgaln,sell and conve,y unLo tbe Home Federal Savings&Loan Assoclation of Grand Island,
<br /> Graad Island,Nebraska,and its successors and assigos,the following real estate,situated in ila I I
<br /> ' County,State of Nebraska towit:
<br /> �OT TWO (2), ISU+.�JD ACRES PdO. 9, Afd AUDITIOIJ TO THE CITY OF GP.AND ISLAND, HALL COUNTY,
<br /> NEBRASKA
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<br /> 5 (� Together with all the appurtenances thereunto belonging,and all covenants in all the tltle deeds running with said real estate, �:+
<br /> K and ail ihe ienie,iesues and profits nrlsiag therefrom after default in pedormance of any covenant or condition herein con- '�;
<br /> �� tained;and wnrrants the tltle theteto petfect and clear except for thia mort�age. t�'i
<br /> f During the time liils mortgage is in f�rce the moMgagors agree: ?-1
<br /> i First To pay all ta�ces and special assessments levled agninst said premises,including all taxes and assessments levied '-?
<br /> upon th�s mortgage,or the debt secured by this mortgage. �
<br /> � Second. To keep all buildings theteon insured against loss by fire,lightning and tornado in some company,to be ap- '�
<br /> �� proved by the said Home Federal Savings&Loan Associaflon of Grand Island in the sum of$ I nsurab l e Va I ue par id
<br /> the benefit of the said Association,and its successors or assigns; and to deposit said policies with said Association,and shall not
<br /> � commit oc suffer any waste on said premises, and shall put and keep said real este!�buildings and improvements in good �
<br /> �; . �'� order.
<br /> =' � Third. To pay or cause to be paid to the Home Fedcral Savings&Loan AssocinUon of Grand Islnnd, its successors or �
<br /> �� . T4lEP�TY-td I NE THOUSAND AND NO/I 00 ----------------------------'--DOLLAIts,
<br /> R! assigns,the sum oE ��
<br /> � payuble as follows: ;
<br /> �
<br /> s Q7.9,000.00 DUE t%�AY I, I 977 �j
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<br /> � with interest thereon payable,a2cording to tne tenor and eftect of Lhe one certa[n first mortgage note of said mortgagors,
<br /> +; bearing even date w�th these presents. After maturity said bond draws interest at the rate uf nine per cent per nnnum. �
<br /> If sald taxes and assessments are not paid «�hen due, or if the buildings on sald premises are not insured as above pro- ;
<br /> s � vided,or if any of said interest is not paid when due,then said n�hole debt shall become due immediately,at the option ot the �
<br /> said Association,and shall tl�ereaiter draw Interest at the rate of nine per cent per annum.
<br /> The mortgagor— hereby assign_ to said mortgagee all rents and income arising at any and all times Irom said ;
<br /> � property and hcreby authorize said moRgagee or its agent,at its option, upon default, to take charge of said property und ;5
<br /> collect all rents and income therefrom and apply the same to the payment of intetest, principa(, insurance Premiums,tar.es, ��
<br /> }_j assessments, repairs or improvements necessary to keep said property in tenantable condit[on, or to olher charges or pay-
<br /> Y� m�n!s provid�d fnr hrr�i�or in the note hereby secured.This rent assignment shall continue in Sorce untII the unpaid bal-
<br /> �( ance of said note is fully paid. The taking o[possession hereunder shall in no msnner preveiic or cets:d �aiu nurEgadec in '� __
<br /> �! We collection of said sums by foreclosure or otherwise. �
<br /> ;1 Nhether said debt 6ecomes due by lapse of time, or by rcason ot the failurc of the pady o[the first part to comply
<br /> '' j �vith any condition herein,the said Home Federal Savings & Loan �lssociation of Grand Island, the successors a¢d assigas, j,'
<br /> � � shall have the right to begin the foreclosure of this mort�age at once on the whole debt Lereby secured, and to indude ;�;
<br /> ,� therein all taxes, assessments, insurance premiums and cosfs, paid by it or them; or stid Association, its successois or �
<br /> y " asslgns, mny foredose only as to the sum past due, without injury to this mortgage, or the displacement or impairment i1
<br /> of thc licn thereof. j;'
<br /> And the said first party and the makers of said note, especially agree and declare that the separate estate of each and p
<br /> - � every one of them, including both t6at now owned and that hereaftcr acquimd, is pledged and bound for the payment of �i
<br /> b the debt hereby secured. �3
<br /> After the commencement of any suit in foreclosure the plaintiff therein s6all bc entitled to thc immedlate possession oE �
<br /> ��� said premises and the appointment of a rer.eiver therefor, notwithsfnnding they may be the homestcad of thc occupant and
<br /> `; notwithstanding the parties liable for t6e deUt may be solvent,and the tirst party hereby coasents to the appointment of a ?;
<br /> C.
<br /> f Receiver upon the production of this lndenture,without other evldencc. p� ! ,,
<br /> The foregoing condiGons and agreements, all and singular,being fully pedormed,this conveyance shall be void,other- � ��
<br /> � wise to be and mmaia in f.ill forr,e und effect. � N
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<br /> h, , � Signed th;e day oL�� � � D, 19.1�
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<br />� %� In pmsence of y� -n � hu � . . i�? �
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