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<br />RE1o~sT~~TT~1~ulY~~RIg,AGE 88- 104390
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<br />MIDLAND BUILDERS. INC. A Nebraska Corooration
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<br />of the County (1' HALL
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<br />and State 0' NEBRASKA
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<br />hereinafter called the party of the fi~st part, In
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<br />conaideration nr TWENTY FIVE THOUSAND AND ND/lOD-------------------------------------nOLLARS,
<br />in bsnd paid, do hereby grant, bargain, sell and convey unto the Home Federal Savings & Loan Association of Grand Island,
<br />Grand Ialand, Nebraska, and its successors and assigna, the following real estate, situated iJ> HALL
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<br />County, State (1'
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<br />MI'"~I'll\C;I(jl
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<br />..-. towit:
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<br />LOTS EIGHTEEN THROUGH TWENTY THREE (18 - 23) INCLUSIVE, COACH PLACE SUBDIVISION, IN
<br />THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
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<br />Together with sll the appurtenances thereunto belonging, and sll covenants in sll the title deeds running with said real estate,
<br />and sll 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 mortgagOl'll agree:
<br />First. To pay sll taxes and special assessments levied against said premises, including all taxes and assessmen.ts levied
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second. To keep sll 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 ssid Association, and shall not
<br />commit ar suffer any waste on said premises, and shsll put and keep said real estate buildings and improvements in good
<br />order.
<br />Third. To psy or csuse to be paid to the Home Federal Savinga & Loan Association of Grand Island, its successors or
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<br />assigns, the sum of' TWENTY FIVE THOUSAND AND NO/lOO-------------------------------- DOLLARS,
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<br />payable as follows:
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<br />$25,000.00 due AUGUST 1, 19B9
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<br />with interest thereon payable, sccording to the tenor and effect of the one certain first mortgage, !!.~~ of said mortgagors,
<br />bearing even date with these presents. After maturity said bond draws interest at the rate of1~p~cent per annum.
<br />U 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 ~~l1!l!rI'hall become due immediately, at the option of the
<br />said AssocIation, and &bsll thereafter draw interest at the rate olXiiiJi. per cent per annum. .
<br />The mortgagor_ hereby BBBign.s... to said mortgagee sll rents and income arising at any and sll times from said
<br />property and hereby authorize sald mortgagee or its agent, at its option, upon default, to take charge of said property and
<br />collect sll rents and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />lI8IClIBJIIents, repaln or Impravements 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 8lIslgnmeDt Bhall conUuue in force until the unpaid bal.
<br />ance of said note It fully paid. The taking of possession hereunder &bsll in no manner prevent or retard said martgsgee in
<br />the collection of aaid IWIlB 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 />sball have the right to begin the foreclosure of this mortgage at ollCe on the whole debt hereby secured, and to include
<br />therein sll taxa, _ents, Insurance premiUD1l and costs, paid by it or them; or said Associstion, its successors or
<br />BIIigDa, may foreclO1e oaly as to the sum past due, without injury to this mortgage, or the displacement or impainnent
<br />of the Uen thereof.
<br />And the nid first party snd the makers of said note, especlslly agree snd 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 af
<br />the debt hereby 18Cured.
<br />After the llOIDDIencement of any suit in foreclOBUl'e the pWntlff therein shall be entitled to the lmmediaw poesesslon of
<br />nid prellllJq and the appo).ntmeat of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />natwlthltancllnl the puUea Uable for the debt may be solvent, and 'lhe first party hereby consents to the appointment of a
<br />ReceIver upon the production of thls indenture, without other evidence.
<br />The foncolq conditlOIl8 and qreementa, all and aingular, being fully performed, this conveyance shsll be void, other.
<br />wile to be ad remain in full force and effect.
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<br />Sllned Ohl.
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<br />29th
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<br />day 01--
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<br />Julv -\. D., 19-.JllL
<br />MIDLAND BuILDERS'S INC. 3 Nebraska Corpora~' n
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<br />In praenN of
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