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<br />REAL ESTATE MORTGAGEg¢...aa~ o o s5~
<br />CONSTRUCTION SECURITY AGREEMENT
<br />DARRELL D. LEMKE AND FRIEDA M. LEMKE, husband and wife
<br />of the County o+ Hall _ and Stale of NEBRASKA hereioa[ter called the party of the first part, fn
<br />comidarstion „t THIRTY SEUEN THOUSAND TWD HUNDRED AND NO[100------------------------~~~
<br />3a hand paid, do hereby grant, bargain, sell and convey unto the Aome Federal Savings & Loan Aaeotd6fion af -Gtasat feLitd..
<br />Grand IaLnd, Nebraska, and its succepon and assigns, the following real esfak, situated i~ Nall.
<br />County, Stale of NEBRASKA ,_., town:
<br />LOT ELEUEN (11) SADDLE CLUB SUBDIVISION, HALL CDUNTY, NEBRASKA
<br />Together with all the appurtemnces thereurdo belonging, and all covenants in all the title deeds running with said real eetak,
<br />acid all the seater, issues and profits arising therefrom otter default in performance of any covenant or condition $e=ein con-
<br />tained; and: warrants the title thereto perfect and cleaz except for -this mortgage.
<br />During the time thin mortgage is in force the mortgagors agree:
<br />FYrst To pay all taxes and special assessments levied against said premises, including all taaes,aAd,assessments levied
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second. To keep all buildings thereon insured against loss by Sre, 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 ~ i nG„rahl a val ~ is faz;._
<br />the benefit of the said Association, and its successors or assigns; and to deposit said policies with-said Association;-and shall note
<br />commit or softer any waste on said premises, and shall put and keep said real estate buildings and improvements is good
<br />order.
<br />Third. To pay or cause to be paid to the Home Federal Savings s: Loan Association of Grand Ishurd, its auccesaora or
<br />THIRTY SEVEN THOUSAND TWO HUNDRED AND NO/100------------- ---
<br />assigns, the sum of S --'DOLLARS,
<br />payable as follows:
<br />- $37,200.00 DUE FEBRUARY 17, 1985
<br />with interrat thereon payable, according to the tenor and effect of the one certain first mortga$e~ no of said mortgsgora,
<br />6rsring even date with these presents: After maturity said Goad draws interest at the sale bfjl?~} cent per annum.
<br />if •aaid taxes and assessments are not paid when-.due, or if the- buildings oa said premises nee not-insured as above Pro yt
<br />vided, or if-any of said interest is not paid when due, then said +y~tp~e,t~hall become due immediakly, at the option of the
<br />said Aasactadon, and shall thereafter draw interest at• the rate, of '!!c cent, per annum:.:
<br />'The mortgagor ~ hereby assign.- to said mortgagee all renter and income arising at any and: aR limes .from said i
<br />property and~~hereby authorlae said moRgagee. or its agent, at its option, upon default, to take charge of said property and -
<br />coUectaR 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 aok hereby secured.. Thin real assignment.shall continue in force:untll, the: unpafd.,bal:
<br />aces of said note ie fully paid. The taking of possession hereunder shall is no manner prevent or retard said mortgagee in.
<br />the collection of -said sums by foreclosure or otherwise.
<br />Whether said debt becomes due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />with any condition herein, the said Homer Federal Savings do Loan Association of Grand Island, the successors and assigns;
<br />shall- have the right k begin rho foreclosure of this mortgage at once on the whole debt hereby secured, and to i~iude
<br />therein all 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 pasty and_ the makers of said note, especially agree and deGaze that the separate estate of each and
<br />every one of them, ixlttding both that now owned and that hereafter acquired, is pledged and bound for Ute. payment of
<br />she dsbt tureby secured. -
<br />After the- commencement of any suit in foreclosure We plaintiff therein shall be entitled to the immediak possession of
<br />said premiaea sad the appoiatment.uf a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />nutwlthstaadinq the parties liable fc~[ the debt may be solvent, and the first party hereby consents to the appointment of a
<br />Receiver upon the pialucklon of this indenture, without ether evidence.
<br />The foregoing coadNioos sad a~{raameMs; all and singular, being fully performed, this convegance shall be void,. other-
<br />wise to tr and reAUln in. full iacm and effssk
<br />Signed t6;. 17th day oL.~., rabruar .f . D., I9 8
<br />la pnaswx of
<br />E .,1 l.~miz" r
<br />Frieda ; tcf:
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