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<br />p ! CONSTRUCTION SECURITY AGREEMENT
<br />, I THIS. INSTRUI1ENL~Q~IlTUTE_LUilNSTRU~TI.Q!LSECURIT1.-lfiIER~~T UNDER THE NEBRASKA CO S .
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<br />I 52-A-REAL ESTATE MORTGAG~(Wlth Tax Clause) Rev_78 ,Huffman and Felton & Wolf. Walton:-NiWl
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<br />:Ronda K. Welch, a single persoo
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<br />County, State of
<br />County. and Stale of
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<br />Nebraska
<br />Nebraska
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<br />KNOW ALL MEN BY THESE PRESENTS: That
<br />
<br />of Hall County,
<br />Twenty Fi ve Thousaod aod
<br />in hand paid. do hereby.SELL and CONVEY unto
<br />Graod lslaod, Nebraska
<br />of Ha 11
<br />in Hall -
<br />
<br />of
<br />
<br />Nebraska
<br />
<br />The First National Bank of
<br />
<br />THE EAST SIXTY TWO AND SEVENTY FIVE HUNDREDTHS FEET (62.7';' )OF LOT FIVE (5 ) AND nlE
<br />WEST SEVENTEEN AND TWENTY FIVE HUNDREDTHS FEET (17.25') OF lOT SIX (6}, IN GRACE
<br />LUTHERAN CHURCH SUBDIVISION, CITY OF GRAND ISLAND, HALL COUNTY, NEBRASkA.
<br />
<br />The intention being to convey hereby an absolute title in fee simple, including all the rights of homestead- and dower.
<br />TO HAVE AND TO HOLD the premises above described, with all the appurtenances thereunto -belonging. - unto the said
<br />mortgagee(s) and to his, her or their heirs and assigns forever, provided always, and these presents _are --upon the -express
<br />condition that if the said mortgagor(s), his, her or their heirs. executors. administrators or assigns shall payor cause, to be
<br />paid to the said mortgagee(s). his. her or their heirs, executors. administrators or assigns. the principal sum of $ 25,000.00
<br />payable as follows, to wit:
<br />
<br />One Installment of Principle plus Accrued Interest at 14 1/2% Due and Payable 00
<br />May 21, 1984.
<br />
<br />
<br />with interest according to the tenor and effect of the mortgagors written promissory note bearing even date with these presents
<br />and shall pay all taxes and assessments levied upon said real estate, and all other taxes, levies and assessments levied upon this
<br />mortgage or the note "'Which this mortgage is given to secure, before the same becomes delinquent. and keep the buildings on
<br />said premises insured for the sum of $ 25,000.00 . loss, if any. payable to the said mortgagee. then these presents
<br />to be void, otherwise to be and remain in full force.
<br />IT IS FURTHER AGREED (1) That if the said mortgagor shail fail to pay such taxes or procure such insurance. the
<br />said mortgagee may pay such taxes and procure such insurance; and the sum so advanced, with interest at 14. 5 per
<br />cent. shall be repaid by said mortgagor. and this mortgage shall stand as security for the same. (2) That a failure to pay any
<br />of said money. either principal or interest, when the same becomes due, or a failure to comply wit;h any of the foregoing
<br />agreements, shall cause the whole sum of money herein secured to become due and collectible at once at the option of the
<br />mortgagee.
<br />Signed this 22
<br />
<br />day of
<br />
<br />November
<br />
<br />.'~J~J::.~A_
<br />
<br />In presence of
<br />
<br />STATE OF , , . . . . , 1'{IlQril~.~il. . , . . . . , . . . . County of .".. Ha 1 J, , . . , . ' , , _ , . . . , . , . :
<br />
<br />The foregoing instrument was acknowledged before me ... _ . . . ,~p.\(!;lJIbe..r: , ,22, , , ' , , , , ' , . . , . ,19,8.3, .
<br />
<br />person.
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<br />Signaturetf; n TakinhA owIedgment
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<br />,..Reg. of Deeds
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<br />BY....,...._.,nm"......"."....".".,.......,.,
<br />
<br />."....Deputy
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