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<br />86-- 102289
<br />ASSIGNMENT AND MORTGAGE OF INTEREST
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That the undersigned, Larry Knuth and Karen Knuth, being the
<br />buyers of the real estate hereinafter described under a certain
<br />contract and agreement made and entered into on the 27th day of
<br />December, 1976, and amended on March 1, 1986, and recorded as Docu-
<br />ment No. 'G -4)6-7S_-0!, and of the Register of Deeds
<br />of Hall County, Nebraska, in which Larry Knuth and Karen Knuth are
<br />Buyers and Hellmuth Knuth and Dorothy Knuth are Sellers; in consid-
<br />eration of the sum of Two Hundred Eighty Thousand and No /100 Dol-
<br />lars ($280,000.00) in hand paid, receipt whereof is hereby ac-
<br />knowledged, do hereby assign, transfer, set over, sell and con-
<br />vey to Norwest Bank Nebraska, N.A., all our right, title and in-
<br />terest in and to such aforesaid contract and agreement and in and
<br />to the real property agreed to be purchased therein, to -wit:
<br />The Southeast Quarter (SE;) of the Southwest
<br />Quarter (SW4) of Section Thirteen (13), Town-
<br />ship Ten (10), Range Ten (10), West of the
<br />Sixth (6th) P.M., in Hall County, Nebraska,
<br />and
<br />The West Half of the Northeast Quarter (W'NE;)
<br />and the West Half of the Southeast Quarter
<br />(W'SE4) of Section One (1), in Township Ten
<br />(10) North, Range Ten (10) West of the 6th P.M.,
<br />in Hall County, Nebraska,
<br />the intention being to convey and transfer hereby all of our right,
<br />title and interest in and to such contract and agreement and the
<br />aforesaid described real estate, subject only, to the terms of such
<br />contract and agreement.
<br />TO HAVE AND TO HOLD the premises above described, with all of
<br />the appurtenances thereunto belonging unto the said Norwest Bank
<br />Nebraska, N.A., its successors and assigns forever, and if the said
<br />Larry Knuth and Karen Knuth, their personal representatives, heirs
<br />or assigns shall pay or cause to be paid to Norwest Bank Nebraska,
<br />its successors or assigns, the total sum of $280,000.00 with in-
<br />terest thereon at Var,aNe percent per annum payable according to
<br />the tenor and effect of the promissory note of the said Larry
<br />Knuth and Karen Knuth being even date with the presents, and shall
<br />perform all of the terms and conditions and make all payments due
<br />and owing on account of such contract of sale then these presents
<br />to be void, otherwise to be and remain in full force and effect.
<br />IT IS FURTHER AGREED AS FOLLOWS:
<br />1. That if the said Larry Knuth and Karen Knuth fail to com-
<br />ply with the terms and conditions of such contact of sale dated
<br />December 27, 1976, and amended on March 1, 1986, or shall fail to
<br />pay any sums which are required to be paid under such contract,
<br />then and in that event, Norwest Bank Nebraska, N.A. may pay such
<br />amounts including taxes and insurance and any sums so advanced
<br />and paid by such bank, with interest at V21,d6le percent per annum
<br />shall be paid by the said Larry Knuth and Karen Knuth and this
<br />assignment and mortgage shall stand as security for the same.
<br />2. That the failure on the part of the said Larry Knuth
<br />L and Karen Knuth to pay any of the money, with principal or in-
<br />terest when the se. ambecomes due under such contract, or a fail-
<br />ure on their part t.(:) comply with any of the ayrerzrren: contained
<br />such contract act >f sale, or thi sidnment end iron taq�?, hall $q
<br />c.ouse the, whole :.um rltori_ry her-in, riucl st- -ti.rr. ti to 1)(1come t�
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