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<br />REAL ESTATE MORTGAGE
<br />CONSTRUCTION SECURITY AGREEMENT
<br />DEVELOPMENT COMPANY
<br />
<br />WESTERN HEIGHTS
<br />
<br />of Ihe County '"
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<br />HAil
<br />
<br />llDd State of NEBRASKA
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<br />hereinafter caned the party of Ibe fh'st pm;' in
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<br />GnDd Ialand, Nebraska, and ilB _rs and aaoipa, the following real estate, aituated in
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<br />HALL
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<br />conoid_uon of FORTY FOUR THOUSAND AND NO/IOO----u------------~---------~--u-~::.nOLLARs,
<br />ill hand paid, do hereby grant, bu'gaIn, sell and convey unto the Home Feden! SaVings & Loan Association of Grand Island,
<br />
<br />COlmty, Stale '"
<br />
<br />NEBRASKA
<br />
<br />, towit:
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<br />LOT TWEr~TY-FiJUR "JESTERN HEIGHTS fOURTH SUBDIVISION, HALL COUNTY, NEBRASKA.
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<br />$44 , CJiJD. }Q
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<br />Together with all tbe appurtena"""" Ibereunto belonging. and all covenanc' in alllbe title deeds running with said real estate.
<br />and aU the rents. issues and profits arising therefrom after default in perfonnance of any covenant or condition hert:lin eon-
<br />tained; and warrants the title thereto perfect and clear except for this mortgage,
<br />During the time Ibli mortgage is in foree Ibe mortgagors agree:
<br />Finrt To pay all taxes and special as&eMments levi.ed agam.:."t said premises. including .all taxes and assessments levied
<br />upon Ibis mortgage. or the debt _ured by lhis mortgage.
<br />Se<:ond. To keep all buildings tbereon insured against loss by fire. lightning and tornado in some company, to be ap.
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<br />proved by the said Hom~ F~r-ral Saving! &. Loan Asaoc-iation of Grand Island in the sum of $ insurable value -. for
<br />tbe 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 premi.ses. and shall put and keep said real estate buildings and improvements in good
<br />order
<br />Third. To pay or ('.use- to be paid to the Home Federal Savings & Loan ~-OCiatiQn of Grand Island. its successors or
<br />
<br />a.ssigna.. the sum of $ ~-:--)RTY~; ;!UH ;.;'1UUSf,(Ji] i~~(;D. r:p!l:""1iu!_...:::_-=--=--:..~_::_=_~:==..,.---------------
<br />payable a. foil......:
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<br />with loterest thereon po.yable, ."""rding to the tenor .nd effect of the ooe eertain first mortg~'l ,\\9\4,.1Ih said mortgagors.
<br />bearing even date with th~ Pl"e$eots... After maturity ~a.id bond draws jnterest at the rate Of MilgiJper cent per annum.
<br />If said taxes and _ments are not paid when due, or If Ibe buildings on said premises are nol insured as above pro-
<br />vided, or if.ny of said interest is not paid when dU<'o then s.id w~~,l~..d~.I!lsMll become due immediately, at the ~ption of the
<br />said AuOOation, and shalIlhereofter d....w inlerest at Ibe rale or **pei' 'cent per annum.
<br />The mort&8&OL,. hereb)' ulligtL, to said mortgagee all renls and income arising at any and .1I times from s:ud
<br />pro,pe.rQ' and hereb)' .ulbori>e said mor!l!agee or its agent, at its option. upon default, to take charge of said property and
<br />rolJed all nnts aod ir,,,,'me Iberefrom and apply the same to Ihe payment of interest, prineipal, insurance premJums, taxes.
<br />.............ts. repairs or improvement> neeeosary to keep said property in ten.ntable condition. oc 10 other charge. or pay-
<br />ments provided for herein or in Ibe note hereby secured. 'fhll rent .ssignment shall continue in foree until the unpaid bal-
<br />...... of said not.. is fully paid. The taking of _ion hereunder shall in no m.nner prevent or rewd said mortgagee in
<br />the collection of said ..._ by foreclo<ure or otherwlie,
<br />Wllether said debt becorn<o$ due by lapse of tilll.. or by re.son of the failure of Ihe part)' of Ibe first part to comply
<br />with any e-ondition ht!J:"ein. tht> said Home }o'ederal S."ings &: Loan Association of Grand Island, the successors and assigns,
<br />sbaIl have lbe rtgbl to bellin Ibe foreclosure of this mortgage at once on the whole debl hereby secured. and to include
<br />therein aU t&X~ IIMSI;Q;JI("-uti" insurance premiums and eo5ts, paid by it or them: or said Association. its successors Of
<br />utlIaa.. nwy foree~ onb as to the sum put. due, v.'ithout injury to this mortgage, or the rusplacement or impairment
<br />of the lien the_f.
<br />And the said !in1 paI't)' <<Dd the .makers of said note, especially agree and declare that the se-par-ate estate of each and
<br />e\'eQ' ..... of them, including bolb that now owned and that hereafter acquired, is pledged and bound for lh" payment of
<br />tha debt lweby _un<l
<br />Aft.er the ~l at any llUit in foreclooure the plaintiff therein shall he entitled to Ibe immediate possession of
<br />aid ~ and theaWOinlmilllt of a receiver thenfor, notwIthstanding Ibe)' may be the hom.stead of the occupanl and
<br />~lIthe jlIIU1.le& liable fO( the debt lW1y be ooIvent, and lb. fint party hereby consent> to the appointment of a
<br />~ uJlO!l tile \U'DCllICtlon of thlo iodeat1.lre, wilhout other .vidence.
<br />".. ~ <ooAditlona aDd ...,..ementa. all and ainllular, being fully performed, Ibis conveyance shall be void, other.
<br />.. to " aDd rqWQ ill full {GrICe awl eU.<:t,
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