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REAL ESTATE MORTGAG~,~ ~ o ~ ~ o
<br />CONSTRUCTION SECURITY AGREEf9ENT
<br />narrvti n_ i mk and F ; dam Lemke husband and wife
<br />1
<br />of the County o/ HALL and State or NEBRASKA hereinafter called -the party of the first part, iv
<br />conatdaagon ,~ FORTY TWO THOUSAND EIGHT HUNDRED AND NO/IOD______________________~_150LLARS,
<br />io hand pa1d, do herebp grant, bargain, sell and convey onto the Home Federal Savings. ec Loan Aasaciaffon:~-C,engd, laland,
<br />Grand Island, Nebraska, and its sutxeason and assigm, the following real estate, situated in HALL
<br />County, State of NEBRASKA ~, towit:
<br />LOT SIX (6), IN SADDLE CLUB SUBDIVISION, HRLL COUNTY, NEBRASKA
<br />Together with all the sppurteaaacea thereunto belonging, and all covenants in all:the title deeds running. with:said real.aetate;
<br />and-all the rents, issue and profits arising therefrom after default in performance of any egvenant or rnndition herein:; con-
<br />twined; and warrants the title thereto perfect and clear except for this mortgage:
<br />During the time thin mortgage is m force the mortgagors agree:
<br />First. To pap all fazes and special assessments levied against said premises, including all: taxes sad ases_~ents levied
<br />upon this mortgage, or the dent secured by this mortgage.
<br />Second. To keep all buildings thereon insured against loss by £ue, 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 8 insurable value „tor
<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 m-good:
<br />order.
<br />Third. To pay or cause to be paid to the Home Federal. Savings & Loan- Association of Grand Island, its successors of
<br />assigns, the sum of 4 FORTY TWD THOUSAND EIGHT HUNDRED AND ND/100------------------->-~f/LLABS,
<br />payable as foIIows:
<br />$42,800.00 DUE FEBRUARY 17, 1985
<br />with interest thereon payable, aceordtng to the tenor and effect of the one certain first mortgay~,q~g~N~ said. mortgagor;
<br />bearing even date with theee,pteaents. After maturity said bond draws interest at.the rate o ac_:per cent--peL~annttm.
<br />7t said' to:ea and aasatsments ate not paid when due, or if the buildings on said premises are not- insured as-above proo-
<br />vlded, or if any of said interest is not paid when due, then sal e t shall become due immediately, at the option of the:
<br />said Association;:and shell thereafter draw. interest at the rate~or cent per annum:..
<br />The mortgagors hereby assign. to said. mortgagee all rents and income arisng- at any and all times from said
<br />pmpe+tY and hereby authori~s said mortgagee or its agent, at its; option, upon default- to ~teke- 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 />essesementa, repairs or improvements necessary to keep said property in tenantable condition, or to other cherges or page
<br />ments•,provided for herein or in the note hereby secured_.Thia rent.:assignment`shall-wntinue. in force'-until the unpaid".ba1-
<br />arcs of-said: note is fully paid, The taking of posseeaiop hereunder shall in no manner. prevent or retard said mortgagee in
<br />the collection of.said sums by foreclosure or otherwise.
<br />W4etbe[ said debt becomes due 6y lapse of time, or by reason of the failure of the party of the first part to comply
<br />wit4 any 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 mortgage at once on the whole debt hereby secured, ,and- to include
<br />therein all taxes, asaeamtents, insurance premiums and costs,. paid by it or them; or said Association, its suceessors or
<br />Assigns, may forer]vse-tidy as to the sum past due, without injury to this mortgage, or the displacement or impairment
<br />:at the lien thereof.
<br />And the acid first party and the..makers of said note, especially agree and dectaze that the sepazate 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 herobq secured.
<br />After the commencement of spy suit in foreclosure the- plaintiff therein shaLL be entitled tothe immediate possession of
<br />said premises and the appointment of s r~eiyer therefor, notwithstanding they may be the, homestead of the occupant and
<br />notwithatandiag the parties liable for file debt may be solvent, and the first party hereby consents to the appointment of a
<br />lieceivice upon the Production of this. indenlpre, wiWout tithe[ evidence.
<br />The [oragdng coadltiona and sgreementa, all and singular: being fully performed, this conveyance shalt be-,void, other-
<br />wise to ba sad remain. in_IUU fatsa•.aml. etfeek
<br />Sigosd thta 1'7th day oL~_ FED ~ , la 84
<br />la prrance M,. ~~t"
<br />ell ~. 1. c~fNtie ~'".P, £~.
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