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<br /> 76- OU�691
<br /> RSAL �STATE PSORTGAGE
<br /> KNOW ALL MEN BY THESE PRES�NTS:
<br /> � �. .. . � m�s, �' : . �. -.� � � . � � . . .
<br /> Tt �Tinancial Services Development, Inc., a corporation duly organized
<br /> and existing�der the laws of the State of Ohio and authorized to do business in
<br /> the State of Nebraska, and Arnold S. Mann, III and Sandra L. Mann, husband and wife,
<br /> each individually in his and her own right and as spouse of the other, as mortgagors,
<br /> in consideration of FORTY-EIGHT THOUSAND AND NO/100 DOLLARS ($48,000.00) in hand paid,
<br /> do hereby grant, bargatn, sell and convey unto The First National Bank of Grand Island,
<br /> Grand Island, Ne6raska, a banking corporation of Grand Island, Hall County, Nebraska,
<br /> as mortgagee, the following described real estate situated in Ha11 County, and State
<br /> of Nebraska, to-wit:
<br /> Lot Twenty-One (21), [i�ildwood Subdivision, Hall County, NeUraska,
<br /> together with all improvements thereon, including all heating, gas and plumbing
<br /> 5 apparatus, and fixtures and appurtenances thereunto belonging; and all covenants and
<br /> all title deeds running with such lands; and a11 rents, issues and profits arising
<br /> � therefrom after default in performance of any covenant and condition therein contained;
<br /> the intention being to convey hereby an absolute title in fee simple and to convey all
<br /> and every right, title and interest of such Financial Services Development, Inc., a
<br /> corporation, in and to such real property.
<br /> The mortgagor does hereby covenant with the mortgagee, its successors and
<br /> assigns, that it is lawfully seized of said premises; that such premises are free
<br /> from encumbrances and that they will warrant and defend such premises against
<br /> �` lawful claims of any and all persons whomsoever.
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<br /> TO IIAVE AND TO HOLD the premises above described with all improvements
<br /> thereon, including all heating, gas and plumbing apparatus and fixtures and all
<br /> appurtenances thereunto belonging unto the said The First National Sank of Grand
<br /> Island, Grand Island, Nebraska, and to its successors and assigns forever, provided
<br /> always, and these presents are upon the express condition that if the said mortgagor,
<br /> ;, its successors or assigns, shall pay or cause to be paid to The First National Bank
<br /> of Grand Island, Grand Island, Nebraska, its successors or assigns, the sum of
<br /> � FORTY-EIGHT THOUSAIvD AND NO/100 DOLLARS ($G8 000.00), plus interest at Ten Per Cent
<br /> (10`/,) per annum, payable in 180 monthly installments of principal and interest of
<br /> FIVE HUYDRED FIFTEEN AND 82/100 DOLLARS ($515.82), commencing on October 15, 1976,
<br /> with the final payment of principal and interest due and payable on September 15, 1991,
<br /> all according to the tenure and effect of the one promissory note of the mortgagor
<br /> bearing even date with these presents; shall pay all taxes and assessments levied on
<br /> this mortgage or upon note which this mortgage is given to secure before the same
<br /> �'. becomes delinquent; shall keep the buildings on said premises insured for the sum
<br /> '' of at least $48,000.00 loss, if any, payable to such mortgagee, its successors or
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<br /> � assigns, and deliver to said mortgagee, its successors or assigns, the policies for
<br /> said insurance, and shall not permit or co�it any waste upon such real property,
<br /> � then these presents to be void, otherwise to be and remain in full force and effect.
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<br /> 4 IT IS FURTIiER AGREED:
<br /> r 1) That if the said mortgagor shall fail to pay such taxes or procure
<br /> such insurance, the mortgagee, its successors or assigns, may pay such taxes and
<br /> ? procure such insurance the sum so advanced with interest at ten per cent (10%)
<br /> � per annum, shall be paid by the said mortgagor and this mortgage shall stand for
<br /> € • security of the same.
<br /> 2) That failure to pay any of said money, either principal or interest,
<br /> when the same becomes due, or a failure to comply with any of the foregoing
<br /> agreements, shall cause the whole sum or sums of money herein secured to become
<br /> due and collectible at once at the option of the mortgagee, its successors or assigns.
<br /> 3) In case of a foreclosure of this mortgage under any of these
<br /> pravisions, a receivor may be appointed to collect the rents, and profits from the
<br /> mortgaged premises and proceeds of any such rents and profits so collected shall be ,,
<br /> applied on the debt secured hereby.
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