|
<br />82--t)U23~38
<br />r
<br />REAL ESTATE MORTGAGE
<br />KNUr ALL MEN BY THESE PRESENTS: THAT Jt Douglas-Lemmerman and;Catherne M.
<br />Lemme rtnan, husband and wife, of Caro, Hall County, in`the State of`Nebraska;
<br />irr;consideration of the sum of Twenty-two Thousand Give Hundred- and
<br />No/1;00--------Dolls rs ($22,500.00) in ..hand paid, do hereby SELL: and CONVEY
<br />unta'David L. Schaffer and Frances F. Schaffer,>husband and wife, as joint
<br />tenants and `not a s tenants in cannon, of`Cairo, Hall County,::Nebraska`all
<br />the Mortgagors' interest in the following described premises,;to-wit:'
<br />Lot Twelve {12); Block Nine {y), Original Town of Cairo, Ha11,County,
<br />Nebraska
<br />TO HAYE AND TO .HOLD -Lhe premises above described,<with all the
<br />appurtenances thereunto belonging unto the said-mortgagees and to their heirs
<br />and assigns, forever, provided al way s,. and these presents are upon the
<br />express condition that if the aforesaid;mortgagors, their heirs, personal
<br />representatives or8ssigns shall pay or-cause to be paid to the said
<br />mortgagees,' their heirs, executors, administrators or 'assigns, the sum of
<br />Twenty-two Thousand'Five Hundred and No/100------ Dollars, 022,500.00)
<br />payable as follows„ to-wit: The sum of Three Hundred .Twenty- wo and
<br />81/100--------DOLLARS ($322.81} on the l5th day of July;. 1982 and the further
<br />sum of Three Hundred Twenty.-two and 81/i00---=----DOLLARS ($322.81) on the
<br />I5th day of each -succeed;';ng month-thereafter until the total .sum of
<br />Twenty-two Thousand Five Hundred 'and No/100-----Dollars {$22,500.00)
<br />principal and interest at the rate of 12% per annum on the Unpaid balance has
<br />been paid in fuil,;ahich monthly payments include principal and interest, a]l
<br />according to the tenor and `effect'of a certain pranissory Note of J. Douglas
<br />Lemmerman and Catherine M: Lemme+inan, husband and wife, bearing even date
<br />with these presents,. and shalt pay'all taxes and assessments..levied upon said-
<br />real estate, and all' other axes, levies and assessments levied. uponzthis
<br />mortgage or he Hate which this mortgage- s given to secure, before. the same
<br />becomes delinquent, and keep the d-relling on sa,d premises in3ured for its
<br />insurable value loss, if any, payable to he said mortgagees,'then these
<br />presents to be void, othe-~ise to be and, remain in-full force.
<br />IT IS FURTHER AGREED that mortgagors shall have the privilege to pay the
<br />sum of One Hundred and No/100-------DOLLARS ($100:00) or the multiple sum
<br />thereon, on the pranissory note which thi's Real'Estate-Mortgage secures, at
<br />any time.
<br />IT IS FURTHER AGREED that mortgagors'shall purchase and keep in force-
<br />during the period of this mortgage, general liability insurance policy. in
<br />limits not Te s than 1J0/300/100,000.r10,'at no cost to the Mortgagees.
<br />Further,`Mortyagors agree Lo name the Mortgagees, David L. Schaffer and
<br />Frances F. Schafferas additional insureds-on the; general liability pol cy.
<br />Mort9ators agree to protect and hold harmless the Mortgagees from any
<br />negligent act by the Mortgagors occuring bn the subject real estate. The
<br />Mortgagors agree to furnish Mortgagees a'copy of the general lability
<br />insurance policy reflecting Mortgagees as additional insured and to request
<br />the insurance company carrying the general liability policy to send a copy of
<br />the policy to the Mortgagees each year, until this mortgage is paid in full.
<br />IT IS F'URTNER AGREED.. (1) That is the. said mortgagors shall fail to pay,
<br />such taxes pr procure such-insurance, the.: said mortgagees may pay such taxes
<br />and procure such ifi surance;and the sum so advanced, with interest at 12 per
<br />cent shall be paid by said-mortgagors, and this mortgage shalt stand as
<br />security for the .same. {2) That a failure to pay any of said money, either
<br />principal or interest when the same becanes due, or a failure,to comply with
<br />any of the foregoing agreements, shall cause the.. whole sum of money herein
<br />secured to-became due and collectable at once at the option of the
<br />L mortgagees.
<br />
|