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<br />I <br /> <br /> <br />REAL ESTATE MORTGAGE <br /> <br />DAVID SWANSON and PAMELA SWANSON, husband and wife, each in <br />their own right and as spouse of the other, herein called the <br />Mortgagors, in consideration of THIRTEEN THOUSAND SEVEN HUNnRED <br />FIFTY AND NOIlOO DOI,LARS ($13,750.00\ do hereby mortgage to <br />DEAN M. OLSON and SANDRA K. OLSON, herein called the Mortgagees, <br />the following-described real estate in Hall County, and State of <br />Nebraska, <br /> <br />The East 35.71 feet of Lot Ten (10\ and the <br />West 35.72 feet of Lot Nine (9\ in the West <br />Speltz-Schultz Addition to the City of Grand <br />Island, Hall County, Nebraska. <br /> <br />This Mortgage is given to secure the payment of the <br />principal S~~ of Thirteen Thousand Seven Hundred Fifty and No/lOO <br />Dollars ($13,750.00\ and interest thereon, according to the terms <br />of a certain Promissory Note of even date, executed by the <br />Mortgagors to the Mortgagees, due the 22nd day of February, 1984. <br /> <br />The Mortgagors further agree to maintain insurance upon the <br />above-described premises in an amount not less than the indebted- <br />ness due the ~1ortgagees with a loss-payable clause in favor of <br />Mortgagors and Mortgagees ns their interests may appear. The <br />Mortgagors agree to pay all taxes and assessments upon said <br />premises and all other taxes, levies and assessments levied upon <br />this ~ortqaqe and the Note which this Mortqage is given to secure <br />before the same become de l. inquent. Tn the event the Mortgagors <br />shall fail to obtain such insurance or pay such taxes before <br />delinquent.r the \1ortqaqees may purchljs(~ ~:;uch insurance and pay <br />such taxes or other liens and shall have a lien secured hereby <br />for the amount so advanced wi th interest thereon at the rate of <br />twelve percent (12%) per annum~ <br /> <br />Tn the '3vent the 'lortgagors rlefault. in the payment of said <br />indebtedness or any instaUment thereof, or fail to perform any <br />of the other agreements herein, the Mortgagees at their election <br />may declan, the enti>'e debt secured bv this 110rtgage to be due <br />and collectible at once; and may coreclose this Mortgage for the <br />satisfaction thereof. <br /> <br />The Mortgagors further agree that payment hereunder shall be <br />made to Mortgagees as ioint tenants and in the event of the death <br />of either of said MOt'tgagees, all payments nue hereunder shall be <br />made to the survivor of them who may execute and deliver a <br /> <br />-1- <br /> <br />u <br /> <br />L <br /> <br />-.J <br /> <br />L <br />