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<br />REAL ESTATE MORTGAGE 88-10$846
<br />CONSTRUCTION SECURITY AGREEr~ENT
<br />Cl Ar-ence' L ShllrlA Rnrl J1.eJ:.aie_Ka......Sbuda..,.. HII~h::mrl Anrl \Iii fl"l
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<br />ot the County 0' Hall Dnd State Of Nebraska 'hereinafter called tho PDrty of the first part, In
<br />consideration of Fifty Thousand and no/100-----------------------______________ nottARs,
<br />1D band paid, dn hereby grant, bargaic, sell aud coDVey unto the Home Federal Savings & Loan Aasoclation of Grand !Jland,
<br />GraDd 1Iland, Nebtuka, and Ita .u......ra and assigns, the following real estate, altuated 'n Hall
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<br />County, State 01
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<br />MDbril~k.
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<br />towlt:
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<br />Lot Thirty Seven (37), Regency by the Green Subdivision to the City
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<br />of Grand Island, Hall County, Nebraska.
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<br />Together with all the appurtenances thereuulo belonging, and all covenanla In all the title deeds running with .aid real estate.
<br />and all the rents, issues and profits arising therefrom after default in performance of any covenant or condition herein eon.
<br />tained; and warrants the ti.Ue thereto perfect and clear aeept for this mortgage.
<br />During the time this mortgage Is in force the mortgagors agree:
<br />Finit. To pay all taxes and special assessments levied against said premises, lncludlng all taxes and asseument.s levied
<br />upon lhIa mortgage, or the debt secured by lhIa mortgage.
<br />Second To keep all buildings thereon insured aga1ut loss by fire, lightning and tornado in some company, to be a~
<br />proved by the said Home Federal Savings &: Loan Association of Gf'l:l,nd Island In the sum of , for
<br />the benefit of the said AssociatlDn, and its sUCCe&SDnI or assigns; and to deposit said policies with said AuoclatlDD, and abaU not
<br />commit or suffer any waste on said premises, and Bhall put and keep said real estate buildings and Improvements in good
<br />order.
<br />ThIrd. To pay or cause to be paid to the Home Federal Savings '" Loan Association of GraDd Ialand, its anC<eSSQra or
<br />aasIgno, the sum of' Fifty Thousand and no/100----n------------------------------- DOLLABS,
<br />payable as follows:
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<br />$50,000.00 due December 6, 1989
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<br />with _ thereon payable, ac:cordlng to the tenor and effect of the one certain first mortgage no'lii1'fef:t!ilrf'ortgagora,
<br />beuing even date with these presenta. After maturity &aid bond draws Interest at the rate of _ per I;;!hl per annum.
<br />If &aid taxes and .......,enta are not paid _ due, or if the buUding. on &aid premises are not insured as above pr0-
<br />vided, or If _ of said intereal is not paid when due, then &aid '!'JlQ\~~ become due Immediately, at lbe optinn of the
<br />&aid Asaoclatlon, and abaIl thereafter draw interest at the rate ol'illl!i.per cent per annum.
<br />Tbe mortglll/or_ bereby ~ 10 &aid mortgagee all rents and Income arialng at _ and all times from &aid
<br />property and bereby authorize &aid mortpgee or Ita agent, at ita oplion, upon default, to take cbarge of &aid property and
<br />eoJlec:t all rents and income therefrom and apply the aame 10 the payment of Intereat, priDclpa1, insurance premi..... wes,
<br />uaeaments, repairs or lmpr;:wemenb necessary to keep said property in tenantable condition, or to other eharges or pay-
<br />menta provided for bereiD or In the Dole bereby sec:ured. Tbla rent aaalpunent abaIl eontlnue in force untll the nopald baI-
<br />IDCe of aid note Is fully paid The taking of possession hereunder shall in DO manner prevent or retard said mortgagee in
<br />the c:oJ1eotlon of &aid BWDS by foreclosure or otherwise.
<br />Wh2Iher &aid debt becomes due by lapse of time, or by reaaon of the failure of the party of the finIt part to comply
<br />with _ conditiOn herein, the &aid Hnme Federal Savings '" Loan AasoclaIlon of GraDd Island, the BUCCesaora and asalllna,
<br />IhaII ha... the rigbt 10 besIn the foreclosure of lhIa mortglll/e at onee on the wbole debt hereby aecured, and 10 inelude
<br />- all taxes, ...........ta, Inauruu:e premiums and c:oala, paid by it or them; or &aid Ass_On, Ita'mesaora or
<br />........ IIlU fonclote 0IIIl u to the .um put due, without injury to this mortgage, or the dilplacement or Impainneut
<br />of the Den tbmonf.
<br />ADd the &aid first party and lbe mabra of said note, eapeelally agree and declare that the ...parate estate of each and
<br />eftI7 0Da of them, Ine1udInI _.'that now .....d and that hereafter acqnIred, is pledged and bound for the payment of
<br />tha debt harebJ' sec:ured.
<br />An. tha _ent of _ _ In forecloaure the plaintiff therein IhaII be entitled to the Immediate __on of
<br />&aid __ and the ~ of a .-vor tberelor. notwlthatandlng they may be the hnmestead of the occupant and
<br />~ the partIeo 1Iah1e foI' the debt may be aolftlll, and the first party hereby conaenta to the .ppoIntment of a
<br />_ ...... the JlIOIIDOIlnn of lhIa intIonbue, without other _
<br />".. ......... -- and _ts, all and 1inIular, belnr luII7 porionned, lhIa COIl........ .ball be ...td, otber.
<br />_tollaand_lIlfullforc:eand-.
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