<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'~
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