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87-- 101078
<br />REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />THAT DONALD W. FISCHER, and MARILYN M. FISCHER, Husband and Wife,
<br />Mortgagors, of Hall County, and State of Nebraska, in
<br />consideration of the sum of the indebtedness herein recited, in
<br />hand paid, do hereby SELL and CONVEY unto JAMES D. WILKENS,
<br />Mortgagee, of Douglas County, Nebraska, the following described
<br />premises situated in Hall County, and State of Nebraska, to -wit:
<br />Lot Seven (7), Block Twelve (12), Gilberts
<br />Second Addition, Grand Island, Hall County,
<br />Nebraska.
<br />The intention being to convey hereby an absolute title in fee
<br />simple, including all the rights of homestead and dower.
<br />TO HAVE AND TO HOLD the premises above described, with all
<br />the appurtenances thereunto belonging, unto the Mortgagee and
<br />assigns forever, provided always, and these presents are upon the
<br />express condition that if the Mortgagors, their heirs, executors,
<br />administrators or assigns shall pay or cause to be paid to the
<br />Mortgagee, or assigns, the principal suss of Thirty -Five Thousand
<br />Eight Hundred and no /100 Dollars ($35,800.00) payable as follows,
<br />with interest thereon and other sues, with interest thereon,
<br />advanced in accordance herewith to protect the security of this
<br />mortgage, to -wit:
<br />Four Hundred Thirty -Four and 351100 Dollars
<br />($434.35) on or before the first day of
<br />March, 1987, and a like payment on or
<br />before the first day of each consecutive
<br />month thereafter until the total. sum
<br />hereunder is paid in full, all according
<br />to the attached schedule of amortization.
<br />with interest according to the tenor and effect of the
<br />Mortgagors' written Promissory Dote executed on ,Vt& r,-* ,
<br />and shall pay all taxes and assessments levied upon the real
<br />estate, and all other taxes, levies and assessments levied upon
<br />t],--is Mortgage or the Note which this Mortgage is given to secure,
<br />before the same becomes delinquent, and maintain fire and
<br />extended coverage insurance on the buildings on the premises,
<br />insured by a company approved by the Mortgagee for an amount not
<br />less than the total unpaid balance on the Note secured by this
<br />Mortgage, containing a clause with loss payable to Mortgagee
<br />herein as its interest may appear, with such policy containing an
<br />endorsement requiring ten days notice to Mortgagee herein prior
<br />to cancellation or significant modification with such polio
<br />being delivered to Mortgagee ?ere -n, and perform all other
<br />provisions of this Mortgage and the Note secured hereby, then
<br />these presents to be void, otherwise to remain in full force and
<br />effect.
<br />IT IS FURTHER AGREED that all proceeds of such insurance due
<br />Mortgagee herein shall be paid over to Mortgagee to be applied,
<br />at the option of Mortgagee, either to the payment of the Note or
<br />to the cost of any repair or restoration required because of
<br />cianacre or destruction to the mortgaged property.
<br />IT IS FURTHER AGREED that if the Mortgagors shall fail to
<br />pay such taxes or procure such insurance, Mortgagee herein may
<br />:z such aaxz..fzr+es -3
<br />a Y r'cx. zr- Sizes 3-,Id : ne sum so
<br />advanced, with interest at fifteen (15) percent per annum, shall
<br />be repaid by Mortgagors, and this Mortgage shall stand as
<br />security for the same.
<br />IT IS FURTHER AGREED that upon a failure of Mortgagors to
<br />pay any of the money, either principal or interest on the Note
<br />secured by this Mortgage when the same becomes due, or
<br />their failure to comply with any of the foregoing agreements or
<br />covenants, the Mortgagee, its successors or assigns, may at its
<br />option, and without notice, declare the whole sum of money herein
<br />secured to become due and collectible at once and may maintain
<br />
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