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<br />REAL ~smAmE c~oaz~~AGE r ~-- iJ ~ C~:11
<br />D®rtALQ M. D,1VYD and M~iRGARET HORNADY DASTTD, husband and wife, each in
<br />his ana laer own name and.. right and as spouse of each other, Mortgagors, in
<br />consideration of ONE fiUNDI2ED TH0IISF-hit1 Dt3LL+~RS (5100,000.00) received from
<br />Mortgage~ep mortgage to MAFtVAL-A. HOF.NNADF, Mortgagee, the following described
<br />real estate situated in Gall Caunty, Nebraska:
<br />All of Lot One (1?, John & Marie's Subriivirion, an Addition to
<br />the City of Grand Island, Hall Caunty, Nebraska, as surveyed,
<br />p:latt~ and recorders,
<br />anal
<br />Lake Rront Traot 1C, being a part of Lake Front Tracts Abutting
<br />Hraeh"s Lake shown on the City of Grand Tsland Engineering
<br />Department Plat identified as Hrach's Lake, dated September 29,
<br />1972,. drawn. by T.W.B. located at the southwest corner of Hrach's
<br />Lake and abutting Lot One E1) of John & Marie's Subdivision to
<br />the City. of Grams Island, Hail County, Nebraska, as surveyed,
<br />pIatt,ed and recorded.
<br />This Heal Estate Mortgage is given to secure the payment of the principal
<br />sum of One Hundred `Phousand Dollars i$lOD,DD0.0D) and interest from January
<br />1, 1982, at ten:;10). percent per annum, the principal and interest payable
<br />in monthly installments of $1,D74.bi per month on the first day of each
<br />month commencing February 1, 1482, and on the first day of each month there-
<br />after for i79 consecutive months, repayment of the principal and interest
<br />being aaeartaed over a 15-year or ISD-month period, as provided in a-
<br />Promissory Ns>te dated January 1, 182, for which this Mortgage is given as
<br />security.
<br />The Promissory Note provides that time is of the essence of the
<br />Promissory.Nate:, and if Makers. fail for a period of more than sixty {60)
<br />days to pay any monthly installment payment when due, the holden of the
<br />Pmmsaory Note is given. the option to declare the Note immediately due and
<br />payable without notice or demand. i3pon default in payment of any monthly
<br />installaoent of principal and interest when. due, the unpaid monthly install-
<br />ment, of principal bears interest at the highest legal rate until paid.
<br />Mortgagors agree to pay all taxes and assessments upon the real estate
<br />and a3:1 other. taxes., levies and assessments levied upon. this Mortgage and
<br />the Promissory Note which this Mortgage is given to secure before payment is
<br />del.znguent arnd to insure the improvements on the ?~eal estate against lass by
<br />cas:ial~v including dire, windstorm or insurable hazards, in an amount not
<br />less than the ranpad balance of principal dues on the Note for which this
<br />Mortgag+~ is given as security, If Mortgagors fail to pay the taxes. and
<br />assessatents before delinquent, or fail to purchase the insurance., Mortgagee
<br />may pay the taxes and assessments ar other liens and purchase the insurance
<br />and is given a Zien secured by this. Mortgage for the. amounts advanced with
<br />rote=est at the highest Iegal rate.,
<br />If Aortgagors defat~it for a period of more than. sixty (60) days in
<br />payment o€ any monthly installment of principal and interest,.. or fail to
<br />perfozm any. of the other agreements in this Mortgage, Mortgagee, at.
<br />Mortgagee's election, may declare the entire-debt secured by this Mortgage
<br />due and payable at once-, and foreclose this Mortgage for the satisfaction of
<br />the total amount due.
<br />Dated: January 1, 19$2.
<br />~'~
<br />ono ?~5. Bav~r _
<br />rgaret ~iornad av3ei )
<br />SATB OF 2YFs'Fl}2A."sfCfi, Cf)1Tl~TY Q!' HALL.
<br />The forecloiny instrument was acknowledged be:foxe me this 3anuary ,~,
<br />1952, 'olr Lonald M. ;~avi,d and Margaret ~ornady .David, husband and wif€~, +eacA
<br />in his an~~ her own name ~n3 right and as spouse of each other, Mortgagors.
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