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REAL ESTATE MORTGAGE 8 ill
<br />CONSTRUCTION SECURITY AGREEMENT
<br />W_ a►IEYFR AND POLLYANNE H. WYER, husband and wife T^__
<br />Easterly 26' of Lot Four (4) and all of Lot Three (3) Block 53 Wasmer's 2nd
<br />Addition to the city of grand Island, Hall County, Nebraska.
<br />Together with ail the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real estate,
<br />'snd.all the reds, issues and pr arising therefrom after default in performance of any covenant or condition herein con-
<br />tainet and warrants the title thereto perfect and clear except for this mortgage.
<br />During 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 shall not
<br />commit or strifes 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 successors or
<br />assigns, the sea df $ FORTY SIX THOUSAND AND NO/ inn--------- -- ---------------- -- - - -- DOLLARS,
<br />payable as follows:
<br />$46,000.00 DUE MAY 5, 1987
<br />with inter thereon payable, according to the tenor and effect of the one certain first mortgggo qgL q� said mortgagors,
<br />baring even date with these presents. After maturity said bond draws interest at the rate o�si�11E °i cent per annum.
<br />If "said taaas 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 v¢hol debt shall become due immediately, at the option of the
<br />said Association, sad shall thereafter draw interest at the rate W cent per aamum
<br />The mortgagors hereby assign— to said mortgagee all rents and income arising at any and all times from said
<br />peopmYy, and hereby authorize said mortgagee or its agent. at its option, upon default, to take charge of said property and
<br />eolkct "ad sad income therefrom and apply the same to'the payment of interest, principal, insurance premiums, taxes,
<br />assessments, repairs or improvements,neeessary to keep said property im tenantable condition, or to other charges or pay -
<br />ueats :provided for herein or in the note hereby, secured. This rent assignment shall continue in force until the unpaid bal-
<br />ace of said note is fully paid. The taking of possession hereunder shall in no manner prevent or retard said mortgagee in
<br />the eohsetioa'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 />W" say' addition herein. the said Horne Federal Savings & Loan Association of Grand Island, the successors and assigns,
<br />shin h;ve'tbe right to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to include
<br />thaeein ail taxes, assessments, insurance premium and costs. paid by it or them; or said Association, its successors or
<br />awigas,; seq. fdreelm ealy as to the aim past due, without Injury to this mortgage, or the displacement or impairment
<br />et the $elxilassoi.
<br />Aad the said first ,party ; and the makers of said note, especially agree and declare that the separate estate of each and
<br />Iof a" 09't1A; ireludlwg. both that Dow owned and that hereafter acquired, is pledged and bound for the payment of
<br />tiYn�yMbt issrais serss�od.
<br />tin owYMiMe sat of aq wit in foreclosure the plaintiff therein shall be entitled to the immediate po�ion of
<br />tsYi ptnroisss ari 00: appoiNtssesd of, a raoetvet therefor. notwithstanding they may be the homestead of the occupant and
<br />aatt�itltMwtdltt iM pmtiM lisbls tae the debt may be solvent, and the first party hereby consents to the appointment of a
<br />ili.esi..ir tsl]Iis tls prodretlon of this isdanture, without other evidence.
<br />�.
<br />.W aoswYiesr and ate, all and singular, being fully performed, this conveyance dull be void. other,
<br />Nobel "a' _ 4th day of n �, .D�. 199 --i i.
<br />W. Meyer 6
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