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'4 005107 r ASSIGNMENT fu~D MORTGAGE OF INTEREST KNOW ALL MEN BY THESE PRESENTS: That I, John S. Smith, Personal Represent- ative of the Estate of Mary Mae I. Smith, deceased, being the Seller in that certain contract of sale and agreement made and entered into on the 27th day of November 1978, on the following described property, to-wit: The North Half of the Southwest Quarter (N~ SW\) of Section Nine (9), Township Nine (9) North, Range Twelve (12) Hest of the 6th P.M. in Hall County, Nebraska, subject to covenants, conditions, restrictions, reservations~ easements of record and visible ease- ments and all applicable zoning laws, rules and regulations. by and between me as Seller, and James D. Riley and Daniel E. Riley as Tenants in Common, as Purchasers, for and in consideratiuil of & certain prumissory note of this date in the initial amount of $4,051.24 together with future advances on said note not to exceed a total of $ N/A , together with interest thereon at $15.5 per cent per annum from and after September 21, 1984, which is hereby made, executed and delivered by John S. Smith to Norwest Bank-Grand Island, NA., Grand Island, Nebraska, do hereby assign, transfer and set over to Norwest Bank-Grand Island, NA., Grand Island, Nebraska, all of our right, title and interest in and to such contract and agreement, together with any and all monies due or which may become due thereunder and t.hz real ~state thereby cQ~veye-d ~ to h~v~ flnd to hold the same to NOTWe~t:- -E~:p:k.".. Grand Island, NA., Grand Island, Nebrasku, , s successors and assigns forever, subject only to the conditions therei'l .~tl;ined. I, the undersigned, individually in my own right, specifically authorize Norwest Bank-Grand Island, NA., Grand Island, Nebraska, its successors and assigns, to receive and receipt for any and all sums due to me from the Purchasers under such contract, and to give a good and valid receipt therefor and I do further authorize NOIVest Bank-Grand Island, NA., Grand Island, Nebraska, its successors or assings, in case ot default on the part of the Purchasers under such contract and agreement, to bring in its own name, or in my nane, ,ma as my attorney for that purpose, any and all actions or proceedings, either at law or in equity, for the recovery of any sums due under such contract or for the foreclosure thereof, and agree that in the event of suit thereon and foreclosure thereof, that the said Norwest Bank- Grand Island, NA., Grand Island, Nebraska, may first, out of the proceeds of such action, reimburse Hself for any costs and expenses incurred in such suit or foreclosure, pay any and all other or prior liens and encumbrances and reimburse itself for any and all sums due and owing on the promissory note hereinbefore described, together with interest thereon as therein provided, and thereafter to pay any balance remaining over and above such sums to the undersigned, or to such other person or persons as may then be entitled thereto. I, the undersigned, further covenant and represent that there has been paid on account or such contract the sum of $12,563.44 plus inlerest, &1d t~.t there remains dUe and owing the amount of $65,436.56 plus interest, and .that the balance of the contract purchase price as is shown in such contract and agreement together with interest thereon as set out in such contract and agreement is still owing and unpaid. I further represent that I have full power and authority to execute this assignment; that no assignment or transfer of any s.um t~f 111Oti~Y to L~eome due Oil. account of ouch contract has heret-ofore heen made. i L..... We, the undersigned, hereby further specifically authorize and direct 1'00 &..nk of Wood River. Wood River, Nebraska, eScro,," agent under the ahow contract and agreement, to pay and deliver to Norwest Bank-Grand Island, NA., Grand Island, Nebraska, to apply on the note heretofore set our herein the lOOnthly pS}'I!lents due and payable and paid to it as escrow agent under such contract ,mti agreellKHlt, all sums "hich were payable to John S, Slllith, Personal Representative of the Estate of Mary Mae 1. Smith, deceased.