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<br />REAL ESTATE MORTGAGE 83~., ~t ~~ o ~ ~,~ <br />CONSTRUCTION SECURITY AGREEMENT <br />WESTERN HEIGHTS DEVELOPMENT CO. <br />of Uie County of ~'L and-State of NEBRASKA heroinafter called the party of the first part, in <br />consideration of_.FORTY FIVE THOUSAND SIX HUNDRED AND NO/100--------------------°~^~-° :.DOLLARS; <br />in hand paid, do hereby grant, bargain, sell and convey onto the-Home Federal-Savings & Loan Association'of;Grand Island, <br />Grand Island, Nebraska, and its succrsaora and assigns, the following real estate, situated in HALL <br />CottntY, ~~ of NEBRASKA towit: <br />LOT TWENTY-EIGHT (28) IN ti'ESTERN HEIGHTS FOURTH SUBDIVISION, HALL COUNTY, NEBRASKA. <br />Together with all the appurtenances thereunto belonging, and all covenants in aH the title deeds tanning with said real-estate, <br />and all the rents, issues and profits arising therefrom after default in performance of any covenant or condition herein rnn- <br />taiaed; and warrants the title thereto perfect and clear escept for this mortgage. <br />During the time this mortgage is in force the morE_gaget~ agree: <br />First. To pay all lases and special assessments levied against said premises, including all taxes and assessments le!!ied <br />upon this mortgage, or the debt secured by this mortgage. <br />Second. To keep all buHdings 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 ~ iASUrable value yar <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 of cause to be paid to the Home Federal Savings do Loan Association of Grand Island, its successors or <br />~o ~ ~ ~ FORTY FIVE THOUSAND SIX HUNDRED AND NO/100°------------------COLLARS, <br />payable as follows: <br />$45,600.00 DUE MARCH ~, 1484. <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 interest is not paid when due, than said whole debt shall become due immediately, at the option of the <br />said. Associadoa, and shall therea#ter draw interest at the rate of nine per cent per annum. <br />mortgagors hereby assign- to said mortgagee all rents and income arising at any and all times from said <br />p3'a~ aqd hereby autttoriae said mortgagee or its agent, at its option, upon default, to take charge. of said property and `• <br />collect aD rents and income therefrom and apply the same to the payment of interest, Principal, insurance premiums, taxes, <br />assessments, repairs or Improvements necessary to keep said property 3a tenantable condition, or to other charges or pay- <br />. manta provided for herein or in the note hereby secured. This rent assignment shall continue in force until tbe 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 coHectiun a~f sa}d sums 6y foreclosure ar otherwise. <br />Whether sand.debt bernmes due by lapse of time, or by reason of the failure of the party of the first part to comply ; <br />with sup 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 mattgage at once an the whole debt hereby secured, and to include <br />therein aD 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 patty and the makers of said note, especially agree and declare that the separate estate of each and <br />every one of them, including both that now owned and that hereafter acquired, is pledged and bound for the payment of <br />-.the debt hereby secured. <br />' the comme4cement of aqp suit in foreclosure the plaintiff therein shall be entitled to the immediate possession of 4 <br />said grate-and the appointment of a receiver therefor: notwithstanding they may be the homestead of the occupant and <br />notwlamdlag the paities liable for the debt may be sdvant, and the first party hereby consents to the appointment o! a <br />$e~wet upon t4R production of this indenture, without offier evidence. - - <br />Th6 #o[epplud. conditions and aylraements, aH and singular, being fully performed, this conveyance shall be void, other- <br />rfifa to he and r8asaia. in foil force and affect. <br />SiiRu~d tMa Zat.h ~1, a Februar <br />BY~~~~~Delbert D. Thea$meyiir~'Rs sd,dbnt _ <br />ATTESTt' Lois A, Theaameyer,. ~ B~~,gaK'~ <br />µ t_- <br />