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<br />REAL ESTATE M
<br />CONSTRUCTION SECURITY
<br />048832
<br />of the county of Hall and State of Nebraska hereinafter called the party of the first part, in
<br />sonar „l THIRTY NINE THOUSAND DOLLARS AND NO /100 -------------------- - - - - -- DOLLARS,
<br />in hand paid, do benbj Brant bargain, sell and convey unto the Home Federal Savings & Loan of Grand Island,
<br />Grimed Island, Nom, and its successors; and awigns, the fallowing real estate, situated in Ha 11
<br />Gay, State of Nphra c ka , I towit:
<br />LOT TEN (10), BLOCK SEVEN (7), UNIT TWO , CONTINENTAL GARDENS, AN ADDITION TO
<br />THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds t ++++ ning with said teal 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 dear 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 $ 39.000_00 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 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 successors or
<br />assigns, the sum off THIRTY NINE THOUSAND DOLLARS AND NO /100 --------------- - - - - -- DOLLAM,
<br />payable as follows:
<br />$39,000,00 due September 1, 1986
<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 nine per cent per annum.
<br />If 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 interim is not paid when due, then said whole debt shall become due immediately, at the option of the
<br />said Amecistion, and sbail thereafter draw interest at the rate of nine per cent per annum.
<br />The mortgagor hereby assign_ to said mortgagee all rents and income arising at any and all times from said
<br />property and hereby authorize said mortgagee or its agent, at its option, upon default, to take charge of said property and
<br />co led all ren and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />repairs or improvements necessary to keep said property in tenantable condition, or to other charges or pay-
<br />ments provided for herein or in the note hereby secured. This rent assignment shall continue in force until the unpaid bei-
<br />amx of raid note is fully paid. The taking of posseaemn hereunder shall in no manner prevent or retard said mortgagee in
<br />the collection of add sums ty foreclosure or otherwise.
<br />Whether acid slats 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 cured, and to include
<br />therein ail taxes, amusements, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />amdeas, may foreclose only as to the sum past due, without injury to this mortgage, or the displacement or impairment
<br />of the lion tbeeaof.
<br />And the sold tint party and the makers of amid note, especially agree and dee are that the separate estate of each and
<br />*vary ran of them, including bath that now owned and that hereafter acquired, ib pledged and bound for the payment of
<br />the d t hereby aaaured.
<br />Altar rile oomnwwoniw of any salt in foreclosure the plaintiff therein Lhall be entitled to the immediate possession of
<br />odd premises and the appointuent of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />He parties liable for the debt may be solvent, and the first party hereby consents to the appointment of a
<br />Nersiver upon On produsUoa of tbib indenture, without other evidence.
<br />The ikaegoing conditions and agreements, all and singular, being fully performed, this conveyance shall be void, other -
<br />wise to be ad mrshm in fuH farce and effact,
<br />signed this 9th day of August a .1?« 18 B5
<br />in presence oflGx rr•_.
<br />PHYLLIS A. GREENWOOD
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