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<br /> 7s-- t�02538 -
<br /> Ps�A L ESTA TE MORTGA GE
<br /> K NOW A LL MEN BY THESE PRESENTS: I
<br /> That James D. Roth and Donna F. Roth, husband and wife, as joint tenants
<br /> with right of survivorship, each in tiis and her own right and as spouse of the
<br /> other, (hereinafter known as Mortgagor) of Hall County, State of Nebraska, in
<br /> consideration of a Term Loan Agreement, dated April 25, 1977, by and between
<br /> the Mortgagee and True Value Home Center, Inc., a Nebraska Corporation,
<br /> under wtiich the Mortgagee will loan to True Value Home Center, Inc. sums of
<br /> rnoney up to $250,000.00, do hereby sell and convey unto Commercial National
<br /> Bank and Trust Company of Grand Isi and, Nebraska, of Hall County, Nebraska�
<br /> the following described premises in Hall County, Nebraska, to-wit:
<br /> Lot Five (5) Meadowlark Estates Subdivision, Hall County, Nebraska.
<br /> TO HA VE A ND TO HOLD the same, together with all and singular the tene-
<br /> ments, hereditaments and appurtenances thereunto belonging, forever, and
<br /> warrant the title to the same.
<br /> Provided always, that this instrument is executed and delivered to secure
<br /> the payxnent of all sums now or hereinafter advanced to True Value Horne Center,
<br /> Inc. under the Term Loan Agreernent set forth above, with interest thereon, to-
<br /> gether with such charges and advances as may be due and payable to said
<br /> iMortgagee under such terms and conditions, however evidenced, whether by
<br /> note, account or otherwise. This mortgage shall remain in full force and affect
<br /> between the parties hereto and the heirs, personal representatives, successors�
<br /> and assigns, until all amounts secured hereunder, including future advances, -
<br /> are paid in full with interest.
<br /> ,; The Mortgagors hereby assign to Mortgagee all rents and income arising at
<br /> any and all times from said preperty, and hereby authorize said Mortgagee or
<br /> j its agent at its option upon default, to take charge of said property and collect
<br /> all rents and income therefrom and apply the same to the payment of interest,
<br /> .� principal, insurance premiums, taxes, assessments, repairs or improvements
<br /> � necessary to keep said property in tenantable condition or to other charges or
<br /> '� payments provided for herein or in the note or notes, whenever made, hereby
<br /> secured. This rent assignment shall continue in force until the unpaid balance ,� .
<br /> ; of said note or notes is fully paid, and all conditions and covenants of said Term
<br /> A greement are compiied with. The taking of possession hereunder shall in no
<br /> manner prevent or retard said Mortgagee in the collection of said sums by fore-
<br /> closure or otherwise.
<br /> i The failure of said Mortgagee to assert any of its rights hereunder at any
<br /> � time shall not be construed as a waiver of its right to assert the same at any
<br /> ` later time, and to insist upon and enforce strict compliance with all the terms
<br /> ':• and provisions of said note, or notes, term agreement, and of this mortgage.
<br /> � If True Value Home Center, Inc. shall cause to be paid to said Mortgagee
<br /> _ the entire amount due to it hereunder, and under the terms and provisions of
<br /> any note or notes hereby secured, including future advances and any extensions
<br /> or renewals thereof, and if True Value Home Center, Inc. shall comply with all
<br /> the provisions of said note or notes, the Term Loan A greement and this mort-
<br /> gage, then these presents shall be void. However, otherwise it shall remain in
<br /> full force and effect, and said Mortgagor shall be entitled to the possession of
<br /> all of said property� and rnay at its option, declare the whole of said note or
<br /> notes and all indebtedness represented hereby to be immediately due and pay-
<br /> able, and may foreclose this mortgage or take another legal action to protect its
<br /> 'i right, and from the date of such default all items of indebtedness secured there-
<br /> by shall draw interest at the highest legal rate per annum.
<br /> This mortgage shall be binding upon and shall inure to the benefit of the
<br /> heirs, executor, administrators, successors and assigns of the respective par-
<br /> ties hereto. w
<br /> ,� IN WITNESS WHEREOF, said mortgagors hereunder have set their hands on �_
<br /> this ,���'f day of A pril, 1978. � ~ �,
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