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<br />REAL ESTATE MORTGAGE
<br />CONSTRUCTION SECURITY AGREEf+IENT -
<br />~iTCHAEL L. NEUiiERT AIJD BRENDA J. idEUBERT husband and wife; AND DELBERT D. THEAStAEYER AfJD
<br />• ~ us an : an wl e; ~JOUI-a: us ai,;;
<br />_and wife
<br />of the County of HALL and State of NEBRASKA hereinafter called the party of the first par :n
<br />consideration of THREE HUNDRED EIGHTY FIVE THOUSAND AhJD N0/100--------- ~`
<br />------ ------.-TOf.LARS
<br />is hand paid, do hereby great, bargain, sell and rnnvey unto the Home Federal Savings & Loan Association of Grand Island
<br />Grand Island, Nebraska, and its successors and assigns, the following real estate, situated in HALL `~
<br />County, state of EBRASKA ,,._,, towit:
<br />(see attached exhibit A}
<br />~~aw~_~-, ,~+ar~a W. .,rras..~
<br />Together with all the appurtenances Urereurto belonging, and all covenants in all; the title deeds running with said real estate.
<br />and all the rents, issues and proftts seising therefrom after default in .performance of ariv covenant or condition hereiri con-
<br />tained; and warrants the title. thereto.. perfect and: clear except for this mortgage:
<br />During the time thts mortgage is in Force the mortgagors agree:
<br />First: Ta pay all lases and' special assessments levied against said.. premises; including ail taxes: and' assessments levied
<br />upon this mortgage, br the debt secured by this mortgage.
<br />Second: To keep all buildings thereon insured against loss by'fire, lightning and. tornado in some company;. to be ap
<br />proved by the said Home Federal Savings & Loan Association of Grand Island in the sum of F 1 nsurabl e vd7 ue ., for '
<br />the benefit of the said Association, and its successors or assigns; and to deposit said;poficies with said Association,. and shall not
<br />rnmmit or suffer any. waste on said premises, and sY_all put and keep said real estate buildings and improvements in good
<br />order. _
<br />Third. To pay or cause totbe paid to the Horxe Federal Savings & Loan Association of Grand Island, its successors;or y
<br />assigns, the sum of s THREE HUNDRED EIGHTY FIVE THOUSAND AND NOy100-------------------~GLLARS, -e
<br />payable as follows: ,
<br />d
<br />'$385,000.00 DUE JULY i, 19&3
<br />will[ interest thereon payable, according to the tenor and effect of the one certaln first mortgay~e~ said. mortgagors,
<br />bearing even date with these presents. After maturity said :bond draws interest. at the cafe o per cent per anrium T
<br />If said taxes and assessments are not paid when due, or:' if the buildings on said premises are not insurer3'as above pio-
<br />vided, orif any of said interestis not paid when due; then said w}lQl r~l t sjtall become dueimmediately, at the option of the
<br />said 4saociaIIon, and shall thereafter draw interest at the rate of yM rtl~nt per annum..
<br />The mortgagorS_ hereby a..sign- to said. mortgagee aIl rents. and income azising 'at any and all times from said
<br />property and hereby authorize said mortgagee or its agent, at its option, upon default, to take charge. of said' property and
<br />collect all rents and income thetetzvm and apply the same tothe payment ofinterest, principal, insurancepremiums, taxes dd~
<br />assessments, repairs or improvements necessarr• tokeep said propertg in tenantable condition, or to' other. charges or. pay- W
<br />menu provided for herein or in the note hereby secured. This rent assignment shall continue in force until the unpaid bal
<br />once of said note is fully paid. The taking of possession hereunder shall in no manner prevent or retard said mortgagee in
<br />the collection of said sums by foreclosure or otherwise.
<br />Whether said-debt becomes; due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />with any condition herein, the said. Home Federal Savings do Loan Associatfon of .Grand Island, the successorsi sad:..assigns,
<br />shall have the right to begin the foreclosure of this. mortgage at once on the whole debt hereby secured,. and to include
<br />therein all taxes, assessments, insuranre. premiums: and costs;. paid by it or them; or said Association, its successor or
<br />assigns, may foreclose only as to We sum past. due, .without. injury to this .mortgage,. ar the displacement or impairment
<br />of the lien thereof.
<br />Aud the said first. party andthe makers of said note, especially agree and declaze that the sepazate estate of each and •
<br />every- one. of them, including both that now owned ,and that hereafter `acquired, is pledged and bound for the payment of ~P
<br />the debt hereby secured.. ?.
<br />After the commencement of any suit: in foreclosure the 'plaintiff therein shall be entitled to the immediate possession of
<br />said premises and the appointment of a receiver therefor, notwithstanding they may be the homestead' of the.. occupant and
<br />notwithstanding the parties liable for the debt may be solvent; and the first party hereby consents to: the appointment of a
<br />Receiver upon the :,production. of thisindeature,..without'outer-evidence.
<br />The foregotng conditions and agreements, all and singular, being £ullq performed, this conveyance shall be void, other
<br />wise to be and remain. is full force and effect.
<br />f s~tyr+<gths~ ~ 22nd say of~..~ June 82 ,
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