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<br />REALNSESTATEG MORTGAGE g3--.f~~,[3~~€
<br />WESTERN HEIGHTS DEVELOPMENT CO.
<br />of the County of HALL and State of NEBRASKA hereinafter called the party of the first part, in
<br />consideration of FORTY TWO YHOUSAND EIGHT HllNDRED AND NO/100------------___~__~ nOLLARS,
<br />is hand paid, do hereby grant, bargain, sell and convep,uato the Hame Federal Savings & Loan Association of Grand Island,
<br />Grand Island, Nebraska, and ita successors and assigns, the following real estate, situated in ~~
<br />County, State of NEBRASKA „_, towit:
<br />LOT TWENTY NINE (29) IN WESTERN HEIGHTS FOURTH SUBDIVISIONS HALL COUNTYr NEBRASKA
<br />Together with all the appurtenances thereunto belonging, and aH covenants in all the title deeds ru~n~ ~ 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 levied
<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 k Loan Association of Grand Island in the sum of § insurable value ~ 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 />rnmmit 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 # FORTY TWO TIiOUSAND EIGHT HUNDRED AND NO/100-------------------DOi.i.ARC,
<br />payable as follows:
<br />$42800.00 DUE MARCH 1. 1984
<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 Wese 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 buHdings oa said premises are not insured as above pro-
<br />vided, or if any of said interest is not paid when due, then said whole debt shall become due immediately, at the option of the
<br />said Association, and shall thereafter draw interest at the rate of nine per cent per aanam.
<br />The mortgagors hereby assign- to said mortgagee all rents and income arising at any and aH Umes 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 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 ar otherwise.
<br />Whether said debt bernmes due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />wiW any condition heroin, 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 fazes, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors ar
<br />assigns, map focecloae 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 party and the makers of said note, especially agree and declare the! the separate estate of each and
<br />every one of them, iaehrding both that now owned and that hereafter acquired, is pledged and bound for the payment of
<br />the debt hereby secured.
<br />After. the commencement of aqy suit in foredosuro the plaintiff therein shall 6e entitled to We immediate possession of
<br />skid premises and the appointment of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />aotwithatandinQ the partlea liable for the debt may be selves, and rho first party hereby consents to the appointment of a
<br />laceivar upon t6,a praductioa of this indenture, without other evidence.
<br />Thq forxQoir~ conditions and aateemanta, all and singular. being fully performed. this conveyance shall be void, other-
<br />,. wine ~ ba cad remain In full ions cad atfact.
<br />' BiBaad:thit 2$Sh. ~ of February n, D., l~_.
<br />W~S~RN HEIGHTS~4._~P: f
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<br />BYt Delbert D..~Tea~emcyerf" Pt~cia d~F'
<br />ATTESTt Lois A. Th+easmayer, S`ecrst:lrv ' ~
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