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<br />REAL ESTATE MORTGAGE
<br />CONSTRUCTION SECURITY AGREEMENT
<br />WENZL .CONSTRUCTION COMPANY, INC.
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<br />83- 082759
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<br />oftheCpuntyof HAil and State oL--l\lEBRASKA hereinafter called the party of the first part,hi
<br />eollslderationof SEVENTY FIVE THOUSAND AND NO/IOO-----------------------------------~noLL.ARS,
<br />i~!, hli1\d ll8ld, do hereby grant; bargain, sell. and convey untl>. the Home Federai Savings & Loan Association. oVGraIid Island;
<br />GramUsland, Nebraska, and its successors andasslgns,the fallowing reai estate, situated in HALL
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<br />COwlty, State "f
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<br />NFRFlAC;KA
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<br />towit:
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<br />LOT TWO (2) IN BLOCK TWO (2) IN BRENTWOOD SECOND SUBDIVISION, CITY OF GRAND ISLAND
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<br />HALL COUNTY, NEBRASKA
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<br />Tagether with. all the appurtenances thereunto belanging, and all covenants in all the title deedamnnlng with said reai estate, I'...............
<br />and all the. rents, .lssues and prQflts arising therefrom after default In performance. of any covenantor conditlonherelncon-
<br />tained; and. warrants the title' thereto perfect and clear except for this mortgage.
<br />During the time this mortgage is in farce the mortgagors agree:
<br />First T.o.. pay ail taxes and special assessments levied against said premises, Including all taxes. and. assessments levied I
<br />upon this. mortgage, ar the debt secured by this martgage.
<br />Second. To keep all buildings thereon insured against loss by fire, lightning and tornad.o in some campany, ta be ap- 0'
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<br />proved by the said Home Federal Savings & Laan Association of Grand Island in the sum of $ insurable value far I
<br />the benefit afthe said Associatlan, and its successors or assigns; and ta deposit said policies \vith said Association, and shall nat I...
<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; T.o pay or 1:ause to be paid ta the Home Federal Savings & Loan Association of Grand Island, its successors or
<br />~ the sum of $ SEVENTY FIVE THOUSAND AND NO/IOO--------------------------------~OLLARS,
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<br />~as~ I
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<br />$75,000.00 DUE JUNE 1, 19B4 I.
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<br />WI.. o.th. ..int.e.restthere..on pay. able.; according to the tenor and effect of the one certain first mortg~; A~te Sl.t.. said mortg. agar... I
<br />bearing even date with these presents. After maturity said bond draws interest at the rate o'f'JiIliDil 'f,~'cent per annum.
<br />If' said taxes and assessments are not paid when due, or if the buildings on said premises are not insured as abave pro- ~ '
<br />V..i!i..ed.,. ;....or. '.'.". f,..a..Dy.. .'. Of. ..88... .id. .In.t. erest. .... i.s.n. o. t Paid. w. h....en. due, .th.. e. n Sai.d \X. 4'M,P!l.\l.t.Sh..8ll. becom.. e. du.e immediately,
<br /> at the option .of th. e i
<br />sai!i ~oclatlon; Il!l,d.s.hallthereafter draw- interest at:the rate. ol'~'jfe'i"~ent . peraJ\D1Ilit~
<br />The m<>rtgagor_ hereby assig1L-,.. to said mortgagee all. rents and income arising at any and all times from said :-
<br />1I~.P!1$ 8!ld.l!eJ;e)>y a!lthorlze said Dl~rtglll1eeor its agent, at its option, upon default, to take charge of said property and I''',
<br />COllI:\Ct'illfi'ents l\lld income' therefrom and apply the same t.o the payment of interest, principal, insurance. premiums, taxes,
<br />~ents, repairs Qr impJ,".ovem~ necessary to keep said. property in tenantal11e C9nditlon, or to other charges or pay-
<br />menf!lprovided, for, herelD, orin the I)ote hereby.secured. This rent assignment shall continue in forceuntll the unpaidbal- t~
<br />ap.ce o~ said note is. fully paid. The taJ<ing of llOSIlession hereunder shall in n.o manner prevent or retard said mortgagee in I':'.
<br />the C9JleC,ij~1l of .sllid. sl\DlS,by. foreclosure. or. otherwise.
<br />~~~ sil!fdelJtbecomes dneby lapse of time, or by reason of the failure of the party of the first part to comply
<br />"!tit!!- $Y cOl\ditlon hereiJ1, the said HODle Federal Savings & Loan Association of Grand Island, the successors and assigns, 'l
<br />sh!lllhave the riJlht to begin the foreclosure of this mortgage at once on the whole debt hereby se<)ured,and to include
<br />tbei::$J, a.U taxes,assessDlents, insurancepienp.ums and costs, paid by it or them; or said Association; its successors or
<br />~Jilay .. as t~ the sUDl p~ due, without injury to this mortgage, or the displacement or impairment I
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<br />. .i\Pd-.tI1e~ y and themaiters of said. note, especially agree and declare tl)at the separate estate of each and":'..
<br />ding :1J~th,t~~now owned and that hereaft~ acquired, is pledged and bound for the payment .of ,
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<br />~f any s~t in.. fareclosure. the. Plaintiff therein shall be entlUed to the immediate possession of i
<br />ll!lt of:a,receiver therefor, notwithstanding they may be the homestead af the occupant and
<br />e,.:(oF-t!!I:\:;debt Dlay be. solVent, and the. first party hereby consents to the appoJntmentof a ..~
<br />oftlliS Ji.ldenture, Without, other e.vldence.. '
<br />lllld::~~nts" !Ill and singul~, being fully performed, this conveyance shall be void, .othe.t"o
<br />f~.aD.d ef:teet.
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<br />daY oL-.-
<br />W~NZL CONSTRUCTION COMPANY, INC, By:
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<br />nt
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