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<br />CONSTRUCTION SECURITY AGREEMENT
<br />,~ ~ _T(ki~IT~[_:N1S~T1R{;U^'I1~'E:aT .CQNSZITUIES A CON~TRUCTLON SEGl1RITY INTEREST UNDER THE NEBRASKA CONS]-,
<br />z 52-A 1•~R $fiLT'E'SYA7E N4ORYGARE-i With Tax Clause) Rev. ;8 Huffman and Felton & Wait. Walton. Ne 53451 ;
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<br />xNavv ALL MEN $i THESE FR>sENTS: That Marvin A. Wernhaff and Lir.da L. Wemhoff,
<br />Husband and Wife
<br />of Ha 11 County, and State of Nebra S kd , in consideration of tike sum of
<br />Fifty Thousand and NOl100--------------------------------------------------- DoLLARS~
<br />in hand paid, do hereby sEI.L and coNVEY nom The First National Bank of Grand Island, Grand
<br />Island, Nebraska
<br />of Hal 1 County, State of Nebraska the following described premises situated I
<br />in Hall County, and State of NebrdSkd , to-wit:
<br />LOT TWO (2j LAKE DAMS ACRES FOURTH
<br />~ SUBDIVISION, HALL COUNTY, NEBRASKA.
<br />O
<br />i
<br />N
<br />The intention being to convey hereby an absolute title in fee si mpie, including all the rights of homestead and dower.
<br />TO HAVE AND 'I'O HOLD the premises above described, with all the appurtenances thereunto belonging, unto the Bald
<br />mortgagee(s) and to his, her or their heirs and assigns forever, provided always, and these presents are upon Che express
<br />condition that if the said mortgagor(s), his, her or their heirs, executors., administrators or assigns shall pay or cause to be
<br />paid to the said mortgagee(s), his, her or their heirs, executors, administrators or assigns, the principal sum of $ 5Q ~ QQQ - QQ
<br />payable as follows, io wit:
<br />PRINCIPAL PLUS ACCRUED INTEREST AT RATE OF
<br />SIXTEEN AND ONE-HALF PERCENT DUE AND PAYABLE
<br />AUGUST 24, 1982.
<br />with interest according m the tenor and effect of the mortgagors written Promissory note bearing even date with these presents
<br />and shall pay ail taxes and assessments levtcKl uix>n .aid rend estate. and ail other taxes, levies and assessments levied upon this
<br />mortgage or the note which this mortgage is given to serum, before the same bee:omes delinquent., and keep the buildings on
<br />said premises insured fur the sum of S SD,OOD.00 loss, if any, payable to the said mortgagee, then these presence
<br />to be void, otherwise to be and remain in tuft force.
<br />fT 15 FURTHER AGREED (i) That if the said mortgagor span fail to pay such taxes or pracu re such insurance, tl:e
<br />said mortgagee may nay such taxes and procure such insurance; and the sum so advanced, with interest at 16.50 pcr
<br />cent, shall be repaid by said mortgagor, and this mortgage shall stand as security for the same. (2} Tttat a failure fo pay any
<br />of said money, either principal or interest, when the same becomes due, or a failure to comply with any rf the foregoing
<br />agreements, sbail cause the whole sum of money herein sc~;u red to become du_ and colIectibie at once at the option of the
<br />mortgagee.
<br />Signed this 25thday nt February is 82 . j '
<br />t +-~ `/JZ~.//~~ ~ //~ ~,
<br />.....In presence of /~ Y'{~TT~~--'?~~m ~ / -~"? `-+' .
<br />_..
<br />_ _ _......... ___ __... _ _ c,,~~1 (,(,.~ ~ r
<br />'-'` L da L. Wemhoff. _ ... __.
<br />STATE©F......Nebraska ..............County of ....Hall ':
<br />I The foreg©ing instrument was acknowledged before me ....February . 25, ly 82 '
<br />' 4 by ,..-Maryip•A,.Wem Linda L. tJemhoff, Husband and Wife
<br />I ~AfP L.~ A9~~~,
<br />~JT'A+~r ` s Signature of Pel-wn Tal~tng Acl.nowledgtnent. i
<br />$ COMiiFSSl0it I ~
<br />F~~
<br />~, Notary.Public.....
<br />My Commission ~ Title
<br />I 0+' t~E
<br />{ STATE QF..._. .. .__.._ .._....: .._._.. ! Entead on numerical index and filed for record q
<br />~ F ss.
<br />County .-.---...._. _----..__.._.._._. ___ ._._.__.,. _.. .. in the Register o£ Deeds Otl"ice of said County the:
<br />--.-..._ ___..._day oL..-.___ _...._... ._.____, 19. ___._., al_..._..._. ... _.__....-.o'doek sort -_... minutes . _. M., ,~
<br />i '- and recordrd is Hook_... ...___.. .___...o£. _._---._ _...._.at page`. -__.__.._ '~
<br />' _......_ _. Ibeg. :.f i7eed '.
<br />fly-~- 1.9eputy ;
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