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r <br />Am <br />87- ..106885 <br />FIRST REAL ESTATE MORTGAGE <br />DALE E. HANOVER, a single man, MORTGAGOR, in consideration <br />of SEVEN THOUSAND DOLLARS ($7,000.00) received from LEIGHTON K. <br />HANOVER and JACQUELINE E. HANOVER, husband and wife, as joint <br />tenants and not as tenants in common, MORTGAGEES, mortgages to <br />MORTGAGEES the following described real estate (as defined in <br />Section 76 -201 of the Revised Statues of Nebraska, 1943) in Hall <br />County, Nebraska: <br />Lot Four (4), Block Three (3), in College Addition to <br />West Lawn, in the City of Grand Island, Hall County, <br />Nebraska, as surveyed, platted and recorded. <br />This mortgage is to secure the payment of SEVEN THOUSAND <br />DOLLARS ($7,000.00), due and payable on December 1, 1992, <br />together with interest at the rate of nine per cent (98) per <br />annum, payable semi - annually on June 1 and December 1, <br />commencing June 1, 1988. <br />Mortgagor agrees to pay all real estate taxes and special <br />assessments levied and assessed upon the real estate and to pay <br />all other taxes, levies and assessments levied upon this Mortgage <br />and the Promissory Note which this Mortgage is given to secure <br />before payment is delinquent. If Mortgagor fails to pay the real <br />estate taxes or special assessments before delinquent, Mortgagees <br />may pay the real estate taxes and special assessments, or pay any <br />other liens Mortgagor permits to be made against the real estate, <br />and Mortgagees are given a lien secured by this Mortgage for the <br />amounts advanced together with interest at the highest legal <br />rate. <br />Mortgagor agrees to insure and keep insured the improvements <br />on the real estate for protection against fire and other <br />casualties in the sum of at least the unpaid balance of principal <br />of the Promissory Note and to carry the insurance with a <br />responsible insurance company duly licensed to do business in <br />Nebraska. The insurance policy is to be endorsed with a mortgage <br />clause with loss payable to Mortgagor and Mortgagees, as their <br />interests appear. Insurance proceeds received may be used to pay <br />for reconstruction of the destroyed improvements or, if not <br />applied for this purpose, may, at the option of the Mortgagees, <br />be applied in payment of all or part of the unpaid indebtedness <br />secured by this Mortgage. If Mortgagor fails to carry the <br />insurance required by this paragraph, Mortgagees may purchase the <br />insurance and is given a lien secured by this Mortgage for the <br />1 <br />I <br />