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<br />REAL ESTATE MORTGAGE Si- 101297
<br />E. GLENN JOHNSON AND SHARON L. JOHNSON, husband and wife
<br />of the County of HALL and State of NEBRASKA hereinafter called the party of the first part, in
<br />consideration of SFVFNTY FIVE THOUSAND AND 4Ei1100 ---------------------------------- :!=LLARS,
<br />in hand paid, do hereby grant, bargain, sell and convey unto the Home Federal Savings & Loan Association of Grand Island,
<br />Grand Island, Nebraska, and its successors and assigns, the following real estate, situated in HALL
<br />County, State of NEBRASKA - towit:
<br />Part of the Southeast Quarter of the Southeast Quarter (SEa -SEa) in Section Twenty One
<br />(21), Township Eleven (11) North, Range Nine (9) West of the 6th P.M., in Hall County,
<br />Nebraska as follows: Beginning 187 feet South of the Southeast corner of Block Sixteen
<br />(16), pleasant Home Addition to the City of Grand Island; thence Nest 264 feet; thence
<br />South 154 feet; thence East 264 feet; thence North 154 feet to the point of beginning
<br />along with a 50 feet by 15 feet easement on the Ncrtheast corner for ingress and egress
<br />and except 21 square feet in the Northeast corner for road and excepting a certain tract
<br />deeded to the City of Grand Island, Nebraska in Book 178, Page 434.
<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real estate,
<br />and all the rents, issues and profits arising therefrom after default in performance of any covenant or condition herein con-
<br />tained; and warrants the title thereto perfect and clear except for this mortgage.
<br />Dining 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-
<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 Shan 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 pay or cause to be paid to the Home Federal Savings & Loan Association of Grand Island its somas or
<br />assigns, the sum of $ SEVENTY FIVE THOUSAND AND ^ TC ---------- ------ --------- - - ---- DOLLARS,
<br />payable as follows:
<br />$75,00C.,0 DUE MARCH 10, 1988
<br />with interest thereon payable, according to the tenor and effect of the one certain first mortgage note of said mortgagors.
<br />bearing even date with these presents. After maturity said bond draws interest at the rate of'" pps nt per annum.
<br />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 whale debt shall become due immediately, at the option of the
<br />said Association, and shall thereafter draw interest ct the rate of but per annum.
<br />The mortgagor-a- hereby assign_ to said mortgagee all rents and income arising at any and all times from said
<br />property and bereby 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 aecessa^ to keep said property in tenantable condition, or to other charges or pay -
<br />ments provided for herein or in the note hereby se cured. This rent assignment shall continue in force until the unpaid b21-
<br />ante of said note is fully paid. The taking of possession hereunder shall in no manna 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 all taxes, assessments, insurance premiums and costs, paid by it or them; or said Association, its srccessors or
<br />amigos, 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 board for the payment of
<br />the debt hereby secured.
<br />After the commencement of any suit in foreclosure the plaintiff therein shall be 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 Brat party hereby consents to the appointment of a
<br />Receiver upon the production of this indenture, without other evidence.
<br />The foregoing conditions and agreement;, all and singular being fully performed, this conveyance shall be void, other-
<br />wise to be and remain In full force and effect.
<br />Signed ehea 10th _ da:, „f Marc h A D.. 19 `'7
<br />In presence of f- = t7 _
<br />G1 enn hr}snn
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