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<br />I
<br />CONSTRUCTION SECURITY AGREEMENT
<br />ifi::~~~i~~~~~~~;~~~Jt~;~~~wm}'..JJ~I&~I~~~~~~:~~:~;~~~,~~~
<br />
<br />ON-!
<br />.--1
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<br />5 -
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<br />KNOW ALL MEN BY THESE PRESENTS: That Midland Builders, Inc.
<br />
<br />83_001553
<br />
<br />of Hall Coun~, and Slate of Nebraska ,in consideration of the sum of
<br />FORTY TWO THOUSAND AND NO/100-------------------------------------------------DOLLARS
<br />
<br />in hand paid, do hereby SELL and CONVEY unto The First National Bank of Grand Island,
<br />Grand Island, Nebraska
<br />of Ha 11 County, State of Nebraska
<br />in Ha 11 County, and State of Nebraska
<br />
<br />the following described premises situated
<br />, to-wit:
<br />
<br />LOT SEVEN (7), IN BLOCK FOUR (4), OLDE
<br />MILL SUBDIVISION, CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA.
<br />
<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 />morlgagee(s) and to his, her or their heirs and assigns forever. provided always, and these presents are upon the express
<br />condition that if the said mortgagor(s), his. her or their heirs. executors, administrators or assigns shall payor cause to be
<br />paid to the said mortgagee(s), his, her or their heirs, executors, administrators or assigns, the principal sum of $ 42,000.00
<br />payable as foHows, to wit:
<br />
<br />PRINCIPAL PLUS ACCRUED INTEREST AT RATE OF
<br />FOURTEEN PERCENT PER ANNUM DUE AND PAYABLE
<br />SEPTEMBER 28, 1983,
<br />
<br />with interest acc.'Ording to the tenor and effect oC the mortgagors written promissory note bearing e....en date with these presents
<br />and shall pay all taxes and asseSblIlents 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 s€X,ure. before the same becomes delinquent, and keep the buildings on
<br />said premises i"""red for the sum of $ 42,000.00 , loss, if any, payable to the sald mortgagee, then these presents
<br />to be void, otherwise to be and remain in fun force.
<br />IT IS FURTHER AGREED \ 1) That if the said mortgagor shall fail to pay such taxes or procure such insurance, the
<br />said mortgagee may pay such taxes and procure such insurance; and the sum so advanced, with interest at 14.00 per I
<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 becomes due, or a failure to comply with any of the foregoing
<br />agreements. shall cause the whole sum of money herein St.~ured to become due and collectible at once at the option of the
<br />mortgagee.. I
<br />Signed this 1 day of Aprll 19 83 ,
<br />
<br />In presence of Midland Builders, Inc. ..'h.'.'hh...hh...'
<br />
<br />~yh::;~~:~;~::..hh...'hh'...hh....h..
<br />
<br />STATE OF , , , . ~,e,~':'~ ~,~~ , , , , , , , , , . , , , "County of ,,!1,'\ 11.
<br />
<br />
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<br />h......,h""..h' i
<br />
<br />I
<br />by ';;:';:~~~::':.I"'HA"i1 > H 1983 I
<br />
<br />1 * i CQ=~~ 1*\ IV<<' 4~ ...' ',..-A.. /~.<~.. I.
<br />; l EXPIRES /' ' , j/(,,~ 7 C7 /.F I
<br />:..rG:u'" / I/o .... .. .,..;/7.(. , .. .. .. .. ...., " .. ,~
<br />~ ',!? 1 2 . \"/5-' .;: l 1;ignature of Person Taking AcKnowledgment i
<br />lIY ,,,,,,,,I., E"I "" "~ ..-~~ Ti", . .'.!m. ."~ I.'., H H . . H . . . . H . . I
<br />
<br />
<br />ST"TE OF,....h........,......,....h. ,..'h.........._....hh'h_..".h ... .1.... Entered on numerical index and tiled for ",,"'Ord I
<br />, County ..,.........h...'h'..'........ ,... .......h.......' . I in the Register of Deeds Ofliee of said County the I
<br />
<br />........."h'.......'...day of-..........._h.. ...." 19hh.. .h,., aL... h.o'clock and,....., , ......minutea . ..,.,M"l
<br />I
<br />i
<br />i
<br />. . Reg, of tH!eds I
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<br />..... 1'iICOl'lied in J3ool<.,...,.
<br />
<br />....of-.,
<br />
<br />,...at pace"h." ..
<br />
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<br />
<br />By....h.
<br />
<br />Deputy!
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