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<br />REAL ESTATE MORTGAGE 88_100166 -~
<br />CONSTRUCTION SECURITY AGREEMENT
<br />GARY C. ROSENBACH AND SUSAN J. ROSENBACH, HUSBAND AND WIFE
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<br />of the County of H.o.LL and State o~BRASKA hereinafter called the party of the first part, in
<br />consideration of ONE HUNDRED THIRTEEN THOUSAND, FOUR HUNDRED AND NO/100-----------
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<br />County, State of
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<br />NEBRASKA
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<br />-DOLLARS,
<br />in hand paid, do hereby grant, bargain, sell and convey unto the Home Federal Savings & Loan A.~sociation of Grand Island,
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<br />Grand Island, Nebraska, and its successors and assigns, the following real estate, situated in
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<br />HALL
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<br />LOT THIRTY TWO (32) REGENCY BY THE GREEN SUBDIVISION IN THE CITY OF GRANO
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<br />ISLAND, HALL COUNTY, NEBRASKA.
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<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds nmning with said real estate,
<br />and all the rents, issues and profits arising therefrom after default in perfonnance of any covenant or condition herein con-
<br />tained; and warrants the title thereto perfect and clear except for this mortgage.
<br />During the time this mortgage is in force the mortgagors agree:
<br />First. To pay all taxes and special assessments levied against said premises, including all taxes and assessments levied
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second. To keep all buildings thereon insured against loss by fire, lightning and tornado in some company, to be ap-
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<br />proved by the said Home Federal Savings & Loan Association of Grand Island in the sum of $ insurable value ,for
<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 or suffer any waste on said premises, and shall put and keep said real estate buildings and improvements in good
<br />order.
<br />Third. To payor cause to be paid to the Home Federal Savings & Loan Association of Grand Island, its successors or
<br />assigns, the sum of $ ElNE HUNDRED THIRTEEN THOUSAND, FOUR HUNDRED AND NO/100---------nOLLARS,
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<br />payable as follows:
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<br />$113,400.00 DUE JANUARY 15, 1989
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<br />_ ,With interest thereon payable, according to the tenor and effect of the one certain first mortgage notT.rh~rIPortgagors,
<br />bearing even date with these presents. After maturity said bond draws interest at the rate of dUI:e: per cenl= per annum.
<br />If said taxes and assessments are not paid when due, or if the buildings on said premises are not insured as above pro-
<br />vided, or if any of said interest is not paid when due, then said whole debt sIta!l become due immediately, at the option of the
<br />said Association, and shall thereafter draw interest at the rate of lfH'di! pW1&1i*~r annum.
<br />The mortgagor_ hereby assign..J2. to said mortgagee all rents and income arising at any and all times from said
<br />property and hereby authorize said mortgagee or its agent, at its option, upon default, to take charge of said property and
<br />collect all rents and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />assessments, repairs or improvements necessary to keep said property in tenantable condition, or to other charges or pay-
<br />ments provided for herein or in the note hereby secured. This rent assignment shall continue in force until the unpaid bal-
<br />ance of said note is fully paid, The taking of possession hereunder shall in no manner prevent or retard said mortgagee in
<br />the collection of said sums by foreclosure or otherwise.
<br />Whether said debt becomes due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />with any condition herein, the said Home Federal Savings & Loan Association of Grand Island, the successors and assigns,
<br />shall have the right to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to include
<br />therein ill taxes, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />IISSigns, may foreclose only as to the sum past due, without injury to this mortgage, or the displacement or impairment
<br />of the lien thereof.
<br />And the said first party and the makers of said note, especially agree and declare that the separate estate of each and
<br />every one of them, including both that now owned and that hereafter acquired, is pledged and bound for the payment of
<br />the debt hereby secured.
<br />After the commencement of any suit in foreclosure the plaintiff therein shall bl! entitled to the immediate possession of
<br />said premises and the appointment of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />notwithstanding the parties liable for the debt may be solvent, and the first party hereby consents to the appolntment of a
<br />Receiver upon the production of this indenture, without other evidence.
<br />The foregoing conditioDII and agreements, all and singulu, being fully perfonned, this conveyance shall be void, other.
<br />wile to be and remain in full force and effect.
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<br />15th
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<br />day oL--
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<br />Signed thi.
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