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REAL ESTATE M,
<br />CONSTRUCTION SECURITY
<br />AGREEMENT
<br />RICHARD E. BELLOWS AND BARBARA A. BELLOWS, husband and wife, as tenants in common
<br />of the County of HAi L and State of NEOFIASKA hereinafter called the party of the first part, in
<br />consideration ie ONE HUNDRED THOUSAND AND NO/ 100------------------------ --- - -- - --
<br />DOLLARS,
<br />td hand paid, do hereby great, bargain, sell and convey unto the Home Federal Savings &Loan Association of Grand I =land,
<br />Grand Island, Nebraska, and its successors and assigns, the following real estate, situated ire- HA _
<br />County, State of NEBRASKA I . towit;
<br />Part of Lot Six (6), of Home Subdivision of that part of the Northwest Quarter (NW-0
<br />of Section Nine (9), in Township Eleven (11) North, Range Nine (9) West of the 6th
<br />P.M., which lies west of Wheeler Avenue as surveyed, platted and recorded and described
<br />as follows: Beginning at the Southwest corner of said Lot Six (6), thence Northerly
<br />150 feet along the Westerly line of said Lot Six (6), thence Easterly 260 feet parallel
<br />to the Southerly linA of said Lot Six (6), thence Southerly 150 feet parallel to the
<br />Westerly line of said Lot Six (6), thence Westerly 260 feet along the southerly line
<br />of said Lot Six (6), to the point of begirrirg, Hall County, Nebraska.
<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real 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 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 Ievied
<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 $ i rsr 1 1-h l P •a i p- 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 of S. ONE HUNDRED THOUSAND AND NO/ ' OC --------------------------------- DOtLAIiS,
<br />payable as follows: - --
<br />$100,OD DUE NDU +:"1 ?ER i3, 1966
<br />with interest thereon payable, according to the tenor and effect of the one certain first mortga�r��, said mortgagors,
<br />bearing even date with these presents. After maturity said bond draws interest at the rate ofmddt 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 interest is not paid when due, then said,Th# t shall become due immediately, at the option of the
<br />said Association, and shall thereafter draw interest at the rate of i lki per cent per annum.
<br />The mortgagor —P hereby assign to said mortgagee all rents and income arising at any and ail 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 />collect all rents and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />assessments, repair& 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 bal-
<br />ance of said note is fully paid. The taking of possession hereunder shall in no manner prevent or retard said mortgagee in
<br />the collection of said sums by foreclosure or otherwise.
<br />irbather said debt becomes due bV 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 secured• and to include
<br />therein all taxes, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />assigns, may foreclose only as to the sum past due, without injury to this mortgage, or the displacement or impairment
<br />of the lien thereof.
<br />And the said first pony and the makers of said note, especially agree and declare that the separate estate of each and
<br />overt one of them, including both that now owned and that hereafter acquired, is pledged and bound for the payment of
<br />the debt bessby secured.
<br />After the oa®mencement of any auk in foreclosure the plaintiff therein shall be entitled to the immediate possession of
<br />said prembes and the appointment of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />twig the parties liable for the debt may be solvent, and the first party hereby consents to the appointment of a
<br />llsrotver upon the production of this indenture, without other evidence.
<br />The fot+s 09 eoalttions and agreements, all and singular, being fully performed. this conveyance shall be void, other-
<br />Vin to be sad remain to fall (ores sad effect.
<br />Signed this..._- -_J_.hV?.-....-._._.._.__.._._...day of_. - --
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