83003970 - Laserfiche WebLink

Browse

r :) -- 83......{}03970 Mortgagee agrees that this Mortqage shall be subordinate to the principal amount of not more than one other mort~age given by Mortqagors upon the premises and then only if. at the time of the execution of that mortgage all of the' following OCcur: (i) Mortgagor$ receive full value in money or money's worth equal to the face amount of the mortgage: (ii) the principal amount of the Mortgage is not more than $60,000.00, (ill) the interest rate on the Mortgage is not in excess of 14% per annum; (iv) the t40rtgage is not due less than ten (10) years from its date; and (v) within one week after the execution of that Mortgage, Patricia Kelly is given a photo- static copy of that folortgage and the note it is given to secure. In the event of default in the performance of any of the terms and conditions of this Mortgage or the Note secured by it or in the performance of ..ny term or condition of any Mortgage which has priority over this Mortgage or the note which that Mortgaye secut'as, the Mortgagee shall be entitled to immediate possession of the property above described and all the rents, revenue and income derived therefrom during such t4~e as the Mortgage indebtedness remains unpaid shall be applied by the Mortgagee to the payment of the Note and all other sums secured hereby after deduct.ton of any necessary costs of collection. In the event the Mortgagor!; default in the payment of indebtedness secured by thls Mortqi!<Jc or of :lUy Mortgage which is prior to this Mortqage, or any installment of principal or interest due '"ndet ,j] thel' Mortqaqo, or fail to perform any of t.ho othc r ':HJreement~; contained in (~l ther Mort']aqe or HI the not.e wh:;,cI1 ,~itiWI. Mortqaqe is 9iven to !>EI'eure, en15 Mortgaqee i;t MOI:t']c1ljec' s eluctiQIl may Jec1i..lrc the 'iSntire debt seetlred "~I' UIII. !>lor:hl"qe \',0 be due and collectible ~\t ()neei J1nd !n4'i fQ.t.ecluH(~ thiS MOt'tgu.qe f(..)t' the satisfactiun Lhercof. Siqne<l th.iS~..\.".. d'lY 'H May. l'HIJ. West't'c V 'tJo..6;:1~ ~s'tb;i-}~~ .. ~, STATE Ol" NEBRASKA ) (ss: COUNTY OF HALL l Before llWil, it Notal'Y Public quali.fied for in said County, personally came William B. Westertng and Jayne M. Westerinq, husband and wife, to me known to be the identical persons who signed the foregoing instrument ilnd acknowledged the execution thereof to be thC1X voluntary act deed. Witness my hand and Notarial Seal on 1983. My commission expires:, ~~-.... . ,~ --2-