86101490 - Laserfiche WebLink

Browse

141494 REAL ESTATE MORTGAGE 3 NOW ALL MEN BY THESE PRESENTS: That BARBARA G. STEPHENS and RICHARD E. STEPHENS, JR., her spouse, each in her and his own right, residing in Hall County, State of Nebraska., hereinafter referred to as 'Mortgagor'", in consideration of the forebearance of F:IANY E. GALLUP, of Hall County., State of Nebraska, hereinafter referred to as Mortgagee, in connection with a certain Two Hundred Eighty -Five Thousand Sixty and 93/1.00 Dollar ($285,0610 -93) Promissory Note due from the Mortgagor to The Overland National Bank of Grand island, Grand Island, Nebraska, dated June 28, 1952, which note was subsequently assigned by The Overland National Bank of Grand Island., Grand island, Nebraska, to Mortgagee on December 3, 1935, and other valuable consideration in hand paid, does hereby mortgage unto Mortgagee the following - described real estate situated in Hall County, State of Nebraska, to -wit: Lot Eight (8) in Block Four (4) in the Replat. of Riverside Acres, an /addition to the City of Grand Island, Hall County, Nebraska. The Mortgagor does hereby covenant with the Mortgagee and with the Mortgagee's heirs and assigns that the Mortgagor is lawfully seized of said premises, that they are free from encum- brance, that Mortgagor has goad right and lawful authority to convey the same, and that Mortgagor warrants and will defend the title to said premises against the lawful claims of all persons whomsoever. This Mortgage is given to secure the payment of the principal sum of Two Hundred Eighty -Five 'Thousand Sixty and 93/140 Dollars ($285,060.93), together with interest thereon according to the terms of a certain Promissory Note dated June 28, 1982, by the Mortgagor in favor of The Overland National Bank of Grand island, Grand Island, Nebraska, and which note was subsequently assigned to the Mortgagee, the terms and conditions of which note are incorporated herein and made a part hereof by this reference. The Mortgagor agrees to pay all taxes and assessments upon the said premises and all other tares, levies and assessments levied upon this Mortgage and the note which this Mortgage is given to secure before the same become delinquent_ In the event the Mortgagor shall fail to pay such taxes before delinquent, the Mortgagee may pay such taxes or other liens and shall have a lien secured hereby for the amount so advanced, with interest thereon at the maximum legal rate. -I- IN