|
I REAL ESTATE MORTGAGE 8� 00841
<br />— LAWRENCE W. LUFT AND SUSAN 0. LUFT, HUSBAND AND WIFE
<br />of the County of Hal l and State of Nebraska hereinafter called the party of the first part, in
<br />conaiderasion of TWENTY SEVEN THOUSA ?JD NINE IIUNORED DOLLARS AND NO /100 ----------- _T)OLLARS,
<br />is baud pdd, do hereby geank bargain, sell and convey unto the Home Federal Savings & Loan Association of Grand Island,
<br />Grand Island, Nobrasia, and its successors and assigns, the following real estate, situated in ' Hal 1
<br />Congo, State r Nebraska towit:
<br />THE SOUTH TEN (10) FEET OF LOT TEN (10) AND ALL OF LOT ELEVEN (11) IN BLOCK, THREE (3),
<br />INGALLS- TURNER SUBDIVISION, VILLAGE OF CAIRO, !TALL COUNTY, 'NEBRASKA.
<br />Together with all the appurtenances tbereunto belonging, and all covenants in all the title deeds running with said real estate,
<br />and all the rents, issues and protlta 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 levied
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second. To keep all buildings thereon insured against lass by fire. lightning and tornado in some company, to be ap-
<br />proved by the said Hoax Federal Savings & Loan Association of Grand Island in the sum of Si 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 TIJE14TY SEVEN THOPSArJO HTNE NUINDRED DOLLARS ANP 1.10X100 - - - - - -- DOLL4R5,
<br />payable as follows:
<br />527,900.00 due December 211), 198i-)
<br />with interest thereon payable, according to the tenor and effect of the one certain first mortgage,totvoff, said mortgagors.
<br />baring even date with these presents. After maturity said bond draws interest at the rate of"AQ 16nt per annum.
<br />rt' If said taxes and amess neriis are riot paid when doe, or if the buildings on said premises are not insured as above pro -
<br />vided, or if any ad said interest is not paid when due, then said wbole tdpeab�t shall become due immediately, at the option of the
<br />aid Assocladoet, and shall thereafter draw interest at the rate og7"-per� cent per annum.
<br />The mortgagors_ hereby assign. to mid 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 />collect all rents and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />assessments, repairs or Improvements neceamry 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 eoGaction of said sums by foreclosure or otherwise.
<br />Wbodse • said debt 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 Hone Federal Savings & Loan Association of Grand Island, the successors and assigns,
<br />mall have the right to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to include
<br />Its wits all tars, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />assigns, say foreclose only as to the sum past due, without injury to this mortgage, or the displacement or impairment
<br />at the Use thereof.
<br />Arid the sa:d first patty and the makers of said note, especially agree and declare that the separate estate of each and
<br />*"ry am ai tfletn, including both that now owned and that hereafter acquired, is pledged and bound for the payment of
<br />tin debt Mtdry secumd.
<br />Alter the commencement of any gait in foreclosure the plaintiff therein shall be entitled to the immediate possession of
<br />said premises and the appoimtass* of a receiver therefor, notwithstanding they tray be the homestead of the occupant and
<br />nsiwill sisading the parties liable for the debt may be solvent and the first party hereby consents to the appointment of a
<br />ieealvar "m the production of this indenture, without other evidence.
<br />The foregoing eoadilioas and agreements, all and singular, being fully performed, this conveyance shall the void, other•
<br />wits to be sari resaiis in Wit tame and effea
<br />iigaad tiriaI 6th y IPcembt,'r
<br />In mace of 1� } p,
<br />; '.1J!TV, J. I r r
<br />
|