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CONSTRUCTION SECURITY AGREEMENT
<br />~IS ST M~ T Q S TTUTES A CONSTRUCTION SECURITY INTEREST UNDER THE NEBRASKA
<br />`) 52-A- E-(With Tax Ciauae) Rev. 78 Huffman and Felton 8 Wolf, Walton, Ne 68461 ,
<br />I{NOW Ai.L MEN BY THESE PRESENTS: That David L. Larson and Catherine M. Larson,
<br />Husband and Wife
<br />of Ha 11 County, and State of Nebraska , in consideration of the sum of
<br />FORTY TWO THOUSAND AND NO/100------------------------------------------------ DoI.I.ARs
<br />in hand paid, do hereby SELL and CONVEY unto The First National Bank of Grand Island,
<br />Grand Island, Nebraska
<br />of Hall County, State of Nebraska the following described premises situated
<br />;a Hal i Coanty, and state of Nebraska • to-wit:
<br />THE EAST 63.2' OF LOT FOUR (4) AND THE WEST
<br />22.2' OF LOT FIVE (5) IN BLOCK ONE (1), IN
<br />PLEASANT VIEW SEVENTH SUBDIVTSION, CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The intention being to convey hereby an absolute title in Fee simple, including all the rights of homestead and dower.
<br />TO HAVE AND TO HOLD the premises above described, with all the appurtenances thereunto belonging, unto the said
<br />mortgagee(s) and to his, her or their heirs and assigns forever, provided always, and these presents are upon the expreae
<br />rnndition that if the said mortgagor(sj, his, her or their heirs, executors, administrators or assigns shall pay or cause to be
<br />paid to the said mortgagee(s), his, her or their heirs, executors, administrators or assigns, the principal sum of $ 42 ,000.OO
<br />payable as follows, to wit:
<br />PRINCIPAL PLUS ACCRUED INTEREST AT RATE OF
<br />FOURTEEN AND ONE-HALF PERCENT PER ANNUM DUE
<br />AND PAYBLE AUGUST 8, 1983.
<br />with interest according to the tenor and effect of the mortgagors written promissory note bearing even date with these presents
<br />and shalt pay all Vases and assessments levied upon said real estate, and all other taxes, levies and assessments levied upon this
<br />mortgage or the note 'which this mortgage is given to secure, before the same becomes delinquent, and keep the buildings on
<br />said premises insured for the sum of S 42 , OOO.OO toss, if any, payable to the said mortgagee, then these presents
<br />to be void, otherwise to be and remain in full Corce.
<br />IT IS FURTHER AGREED (1) That i[ the said mortgagor shalt fail to pay such taxes or procure such insurance, the
<br />said mortgagee may pay such faxes and procure such insurance; and the sum so advanced, with interest at 14.50 per
<br />cent, shall be repaid by said mortgagor, and this mortgage shall stand as security for the same. (2) That a failure to pay any
<br />of said money, either principal or interest, when the same tucomes due, or a failure to asmply with any of the foregoing
<br />agreements, shall cause the whole sum of money herein secured to become due and collectible at once at the option of the
<br />mortgagee.
<br />signed this 8th say of February Is 83
<br />In presence of ...._. ~~~~ .............
<br />Devi arson-.....-.~-s~-s-a'`t.........._......._....
<br />d ' , -~- ..
<br />Catherine M. Larson
<br />STATE JF ....... Nebrazkd........... ,County of ...Hall ....................
<br />The foregoing instrument was acknowledged before me ....... Februd ry, ,8 ... . ............. . Ig . _ $3
<br />by .,Dagid,L;.Larso~ therine M. Larson, Husband and Wife ,
<br />~ --,
<br />N(jTItA1f Signature of Person Taking Acknowledgment
<br />Comm ssi piMll 2
<br />........ Plot4CY. ?.U4) i c ......................... .
<br />Title
<br />STATfi ~:.>..........._......,__....., ' vp nom=
<br />--~-~~~~~ Entered oa numerical index and filed for record
<br />Caraex ...._ .........................._-.--._ ._..__......--.__.--- ~ sa. in the Register of Deeds O(fke of said County the
<br />._,.._..._.._»_...day o(.....-.._..„....._..._....._.._.._..-. _.. f2 ............. aE............,........_.......o'ctoelt sod,....._........._._..,.-..mir,utoa .._..._........_...M.,
<br />aarti racords~d ia. 8~oait,..... _.....:.-_...,._...-..-....._....of_ ............._......_._...........at page........-._..-..-._.....,...,......._....
<br />...................... _..- ..__.....__..........._...----...._........_-..Reg. of Daads !,
<br />13y.._ .. _..........._ ...._ ..._... -_ ... _ .. -, ...._..- ._..Deputy
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