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<br />READ. ESTATE MORTGAGE
<br />CONSTRUCTION SECURITY AGREEMENT
<br />Clarence L. ShLAa and Uernie.K. Shuda, Husband and Wife
<br />Of the C'Wny of Hall and State ov Nebraska hereinafter called the party of the first part, in
<br />Seventy Thousand and r.V/ 100--------------------------------- - - - - --
<br />eooddetaHon of LLARS.
<br />In bagel P%K do hereby grant; bargain, all and comey w to the game Fedaarai Savings to Lnm Association of Grand Dland.
<br />Grand IdWK Kabrasta, and ifs wcceMaes and assigns„ the following real estate, situated In Hall
<br />Coaaty, State of Nebraska towit:
<br />Lot: Tw ent fix 26 in Brentwood Th `�; sird� vision in the City of C d 3slard
<br />X11 Cout�$y`, Nebac� i i
<br />!� T ether with aII the a� thereunto beion". and a—"& in all the title deeds reaming .wJb s.ifi mk estate,
<br />and all the rents, issues and M tts arising therefrom after ddfaiLt in performance of any covenant or condition herein cow
<br />taiaad; and wasrantt the title thereto perfect snd clear except, for this mortgage.
<br />Daring the time this mortgage is In force the mortgagors agree:
<br />Fink To pay all Lanes and special assessments levied against said premises. including all taxes and assessments levied
<br />Won this mortgage, or the debt secured by this mortgage.
<br />Seeend. To Leap all buildings thereon insured against loss by fire, lightning and tornado in some company, to be ap
<br />P oved by ike said Home Federal SsvInp k Loan Association of Grand Island in the am of ! 70 -1`1011 -m for
<br />the benefit of the aid Association, and its successors or assign; and to deposit said policies with said Association, and shall not
<br />I{ commit or suffer any waste on said premises, and shall put and keep said real estate buildings and improvements in good
<br />order.
<br />2W,d. To pay or cause to be paid to the Home Federal Savings & Loan Association of Grand Island, its successors or
<br />sus,M the sum oft Seventy Thousand and no/ 100------------------------------- - - - - -- DOLLARS,
<br />payable as follows:
<br />Due September 7, 1950
<br />with intsrat thereon payable, according to the tenor tad effect of the one certain first mortMe nale- of said mortgagors,
<br />bearing even date with these presents. After maturity said bond draws interest at the ram of alma per cent per annum.
<br />If old taxer and asawsmonts are rapt paid when due, or it the buildings on add premises are nat insured as above pro.
<br />Mad, or if any of aid interest is not paid when due, then said .Thole debt shall become due immediately, at the option of the
<br />OW Association, and stall thereafter draw interest at the rate of nine per cent per annum.
<br />The nwtMor. _. hereby asks to said mortgagee all rents and income arising at any and all times from aid
<br />property and hereby authorise said mortgagee or its agent, at its option, upon default, to take charge of said property and
<br />e013eet all rents and income there&= and apply the Same to the payment of interne. principal, tuarmce premiums, taxes,
<br />assessments, repairs or improvements naessaq to keep said property in tenantable condition, or to other charges or pay
<br />meats provided to herein or In the note hereby secured. This rest assigament Shall continue in force until the unpaid bal-
<br />ance of said ante is fully paid. The taking of possession hereunder shall In no manner prevent or retard Said mortgagee in
<br />UM eolleetioc of SSW Sumo by foreclosure or otherwise.
<br />Wb@Uwr aid debt beeomes due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />with any condition her" the add gems Federal Savings & Iran Association of Grand Island, the successors and &sdgaa,
<br />shall have the right to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to include
<br />tiertin all traces, assess nsfa, Insurance premiums and costs. paid by it or them; or said Association, its successors or
<br />awWW aq foreclose only as to th sun put due, without injury to this mortgayjs:. ar' 1he displacement qv.- impairment
<br />414he BOB tbw*A.
<br />And the old first pr}rty and tht waken of seiel note. especially agree gad declare that the separate estates (it tack
<br />tY debt sSeIsicl both tUt now owned and that baceafter seesuit*d, is pledged and bound for site yighunt at,
<br />suer ow ±MOM- 01-MOM et oey *4t4 In fonetoarre the piittstifl'tbe!+ein tt!stl be er!fi +fed ME>'e i��ne'0 --ge robe of
<br />said yceatsae said the appointmat of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />setw1lhebsading the parties liable tee the debt may be advent, and the t4st patty hereby contents to the appointment of a
<br />lauiae WE the mdace" of this Iadeatum, without aura evidence. •
<br />Tie faigaft eeadidoes sad apeeamb, all ad dsgular. being tally performed, this conveyance shall be void, cther-
<br />w" to iM sat erasafa In full !ores sad ettaet.
<br />us "d +tics 7th m ._.AD., IIra /E',9
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<br />re►^ce ShyCi�
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