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<br /> tiEAL ESTATE MORTGAGE
<br /> 78— U 0()(l 81 And
<br /> Aesignment of R.ents
<br /> � $Y THIS INSTRUMENT JA."1ES R. BATIE and RUTH A. BATIE, HUSI3AND AND WIFE,
<br /> JOINTLY, EACH IN HIS OWN RIGHT AND AS SPOUSE OF THE OTHER
<br /> oj Adams County,Nebraelca,l�rein called MORTGAGOR, in consideration of $ 36,400.00
<br /> in haod paid, doea hereby arant, bergain, eell and oonvey to LINCOLN F'EDERAL SAVINGS AND LOAN
<br /> ASSOCIATION, I.incoln. Nebraska. a Corporat►on, }nerein called MORTGAGEE, ite sucoeasors and assigns torever,
<br /> the ipllowing detcribed real esffite aituated in the County of Nall and State ot Nebraska , to-wit:
<br /> Lot Three (3) in Amick Acres Second Subdividion; a part of the
<br /> North Half (N`�) of the Southwest Quarter (SW'-:,) and part of the
<br /> South Half (S�) of the Northwest Quarter (NWi) of Section Two (2),
<br /> Township Nine (9) North, Range Ten (20) West of the bth P.M.,
<br /> in Hall County, Nebraska
<br /> toQether with all the appurGenences thereunto belonging or in any wise perfaining thereto. Mortgagor relinquishes all
<br /> ri�b o[bom�er}eag apd all other oontin�eat interest in said premiees. The oonveyanoe of the premiees aLwve deecribed
<br /> to�etl�er with all the nenb, ieayes and Peo�ffi theeeof ie made to eecure the repayment o!a loan made by the Mortgagee
<br /> to the Mortgagor, ae evidenced by a promieeorY =wte ot even date herewith in the principal aum of Th i r t y S i x - -
<br /> Thousand Four Hundred and No/100 - - - - - - - - - - - - - - - - - - - - - - - -- DO��
<br /> <s 36 4pn nn ),e:ecuted by the Mortgagor and payable to the order of the Mortgagee,with intereat at tk�e rate
<br /> thereid r€Ffo�9�, tl�e principal and intereet paYable in accordance with the terma of said promieeor5' note, and flnally
<br /> ma�uri�on January 1, 2003 , . All eums due shall bear iaterest after the due date at the me�cimum i'ate
<br /> allowable by law,and with a reasonable attoraey'e fee ae may be determined by the Court.
<br /> II�T FURTHEIt CONBIDERATION OF SAID SUM,end e8ective and enforaeable at the option of Mortgagee
<br /> wl�e�ver Martga�or�tull be in default tor not lees than thirtY days in makin8 �Y PeYment or performing any pro-
<br /> vision required by the teaav cS Wia mortgaee or any note eecured thereby, Mortgagor does hereby ASSIGN AND
<br /> TRANSFER TO MOR'IY:AGEE THE P038E88ION AND USE OF SAID REAL E3TATE hereinbefore described
<br /> ���y�y�e rent�� iss�a and pro�y theeetrom together with all lesees of eaid real esfate or any part thereof then
<br /> in e�ect.
<br /> Upop},��er beoominy Preeently effective pureuant to ite terms, Mortgagee shall be entitled to have or to
<br /> demand, talce and keep poe�e�sion ot �aid r�l estate and to leeee the same end oollect the renta and pro8ts therefrom
<br /> ip jb owq name� aod in euch caee Mortaagor further egreee, immediately and peaoefully,to deliver all euch leases to
<br /> !�(oetin�ee aod rurre�ler paaeaaion af eaid real eetate W Mortgagee in as good oondition aa the same now is, reaeon-
<br /> able wear and tear ezoep6ed.
<br /> AIl r�}a end inoome from eaid e�eal eetate reoeived by the Mortgagea herein, after payment of such expenaea ae
<br /> Mprtassee ehsli oonaider t►eoaerary or proper to incur for the Preeervation,operation,maintenanoe or repair of eaid real
<br /> e�be,�haII be applled upon the indebtednees aecured by this mortgae'e.includine tazes and insurance.but in no eveat
<br /> �1l ]I,(ortaa�ee be required W apply upon esid indebtedneee or W a000unt for more than the renta azid income actually
<br /> reoeived by iL feam eaid real eetate. leoe such expeneea.
<br /> At a sftiee the oommenoement ot at�y suit in forecloaure, the Mortgagee shall be entitied to the appointment of a
<br /> reoeiver for�sid ptemisea,mtwithatanding eaid preQsises maY be the homestead of one or more of the defrndanta and
<br /> rwtwit�rtanding the pnrties liable for seid debt may be eolvent.
<br /> Upon request of t6e Mortgagor the Mort�aQee msY hereatter,at its option,at sny tune before full payment of this
<br /> rtwrt�e, make turther adv:inces to the Mortgagor and the aeme,with interest,ahall be eecured by this mortgage;pro-
<br /> vided, bovuevet, that the emount of principal eecured by this mortgage and remainin�tinpaid, shali not at the iitne of
<br /> aad yerdydit�any euch advance escead the original Principal aum eecured hereby; and provided further that if the
<br /> Mortp{ee,at ita opt5an,ehall make a further advance or advatwm ss aforeeaid, the Mortgagor agrees to execute and
<br /> deliver W the Mortaa�ee a note to evidenoe the eaa�e, PaYable on or before the maturity of thia mortSage aad bearine
<br /> such otlfer teran ae t2�e MortgaQee s1�a11 e�eqaire.Tl�e Mortgagor doee oovenant and agree to and with the Mortgagee
<br /> W repay aU auch further advance8 made as aforesaid with intereet, that such further advances and each note evidencing
<br /> the same ehall be eeeured by thie mortBage and that all of the covenante and agreemenis in this mortBage rnntained
<br /> shell aPP1Y to such further advances as well as to the original principal sum herein recited.
<br /> Mortgagor hereby ezpreeslY aove�nta snd agreea with MortBagee�aa folloas:
<br /> 1. Mortgagor is lewfully eeized of any indeteasih?��eatate in fee simple free froin encumbrenoea and has good right
<br /> and pow�er to ao�tvey an ab,olute title, in fee aimple, i ncludinQ all the rights of homestead,and will warrant and defend
<br /> tfie title to tt+e same againet all lawtul clnims.
<br /> 2. To pay when due all eume tiereby eecured and such additiona! sums as maY be advanoed by the Mortgagee to
<br /> the MortQsaor as provided in this inetnunent.
<br /> S. To pny when due all tazes and aeeeaements af everY tYPO or nature levied or aseeeaed againet eaid P�Pe�Y.
<br /> or upon the Mort�ayce's intereat themin:and aleo to PaY al1Y �ja�. tien or encumbra�e againet said property which
<br /> may be or become prior and eenior to ihe lien of thie mortgage.
<br /> 4. To keep all buildin8s and other improvea�eab on the mortgaied P+'aPertY insured against loae and deme8e bY
<br /> Sre.wiad�toem a�i otber l�asarda,wit6 euch wlvent insueanoe company or oompanies.and in such amounts,as are eatie-
<br /> factory aith t2�e�[ortixsee.aad wiffi tl�e prooeeda of Loee paYable to the Mortgagee as ite interest may appear. T'he
<br /> po,licies o[inruranoe.atd ab�Eeacta atd otl�er evidenoe ot title.ehall be delivered to and held by ihe Mortgagce without
<br /> liahilib►. and upon forecbosu�+e ot tbir mortQa�e, or aa9uiaitiom of the reai estate or ax�y part thezeof, in anY other
<br /> mann�. shall beaorae the a6rolute peoQarty ot tl�e MoetiaQee.The loee prooeede (laes ezpeneee of oollection)shall, at �
<br /> Mort�e'r optioe, be appiied to �tid iodebbedae�s. whetlaer due or aot,or to the reatotation of t6e improvemenfa,or '
<br /> ail or sny part ti�eeeoE may 6e neimsed by MortQagee. In event ot foieolasure Mortge�or suthorizes end empowers Mort- ;�:. -
<br /> ( p�ee �o eQed i�uraooe upoa the peramiLes ie the amounb atore�sid for a period oovering the time of re�mption
<br /> from foredo�re�a1e,aad it nooeMary thm+eloe to cano�el enY or ali eastin8 insuraaae policiee.
<br /> 6. MoelSyor <a) will aot remove or de�oolid+nor aiter ihs desien or sUvctural�araclsr of any buildinB now or
<br /> 6�ae�rlier erecl�d uPon f�e P��M�tO�i�shall�rst casieeat thet�Eo in writitsS: (b)will ensintain the peem-
<br /> iaes ia sood co�diriam aad repnir; (c)wtil!not ooenmit or su1�waebo f3w+reot; fdl svill mmpiv with all 1ews,ordinanaes.
<br /> ra�ulstimL ooveou►fa.000dif3oas aad=tNrietiaos�ffieetins tlfe premisa. aad will �t su8er pr peraut aay violation
<br /> theeee[. .
<br /> & In tlr evmt af anY tr�odet o[ title to tl�e prap�rty above de�cribed.bY the Mortgasore,durini the existence of
<br /> t6s lor�e bY ris ae otbeewirs,tbe M�al bo{der aE t6e nobe rxvtad hecvbY muy at it»aiNliun.large a tee tur ttu:
<br /> t�fe�sr al t�1a�4 and may aLo at ib optim ad,ju�t fi�e intereet rate to the rabe beiag charged on new loans at the time
<br /> o!eaid tren�er.
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