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<br />82--a~J293`
<br />REAL ESTATE MOR'£GAGE
<br />WILLIAM T. SHERRI' and JUDITH E. SHERRY, husband and wife,
<br />}vintly and severally, herein called the MORTGAGORS, in consider-
<br />ation of TWELJE THOUSAND DOLLARS-----°($12,OQOoOy-----hereby
<br />mortgage to JESSE E. MERCER and MAURINE J. MERCER, husband ar.d
<br />wife as joint tenants, the following-described real estate:
<br />Lat Six (,6` in Block ThPee (3) in-Lake
<br />Davin Acres Subdivision:, Tla1.k County,
<br />Nebraska.
<br />The Martgagc~rs hereby covenant with the Mortgagees and with
<br />Mortgagees' heirs and assigns rhaL Mortgagors are iawlully seized
<br />of said premises, that the_~ are free €ram encumbrance, except a
<br />ii.rst mortgage to The Equitable Building and Loan Association of
<br />Grand Island, Nebraska, that. Mortgagors have good right and law-
<br />~ul authority t~ convey Chf~ same, and-that 1Nartgagors warrant and
<br />will defend the citle,tosaid premisesagainst`the'lawful claims
<br />oY a1i persons.
<br />This Mortgage is given to secure the payment of 'the princi-
<br />pal sun: of $12,000.00 and imterest there©n, according to the
<br />terms of a certain Promissory Note ~f even date, executed b'; the
<br />Mortgagors to the Mortgagees due on tine 15th day- of August, 19&'x.
<br />the Mvrtgagors shall mantainrire, windstorm and extended
<br />coverage insurance with a mortgage clause c:n the house on said
<br />premises in the snm of $ 80,OQ0,(3Q
<br />:he Mortgagors agree tapay al:l taxes one assessments upon
<br />said prer,,ises and all'ather t~xes,,levees, and assessments ie~~ic~:d
<br />upon this Mortgage and th.e~Note which this ~icrtgage is aivea to
<br />secure bei~~re the same-became delinquent. Ln the went the I`iort-
<br />gagurs shall fail to obtain °suc;h insurance or rail to pay s~~ch
<br />taxes betcre delinquent, the Mortgagees sha11 purchase such in-
<br />surance and pay such taxes ar atlterli<,a and shall. have a lien
<br />secured hereby for the amount so advanced, with i.nCerest thereon
<br />at the :ate ~~f nineteen{I9)pexcent por annum:
<br />Mortgagors agree to r~alntain the real estate, including the
<br />h~~use located thereon, in a good and tenantable condition at all
<br />In the event at tFe defau,t in the ,^erformance.of any 'of Lhe
<br />terms and conditions of this Mortga.Re ter the Note secured`'by it,
<br />the Mortgagees shall be entitled tc~ immediate possession of the
<br />property above described, and all tha_ rents, revenue and gcome-
<br />derived therefrom during such time as t.t~e mortgage istdebtedness.
<br />remains unpaid, stroll be applied by the `5ortgagees to the pay
<br />r.;ent of the Note and ail other s,.cros sec~_ired thereby after d'eduC-
<br />tlan of any nP_CeSSart ~uStS n~ ::Oil ~<'-t 1. a;n.
<br />Ir. the evert Mortg~a~ors defau:t inti3e payc.ent of said in-
<br />debtedness ar anv _nstaii..=nt rhereaf €or,a period of tin days
<br />after the same is du~~ or Fail co perfarmanyoi the «tn~r a>~ee-
<br />meats herein, the Mortgagees; .~t Mortgagees' election, ray :iQ-
<br />clare the entire debt ~c+.iree be this Mortgagetobe due and
<br />collect;b3c at on:~e i.d ~nav farec ose this Martgag~e {-.r tt;e
<br />53CS.J ta::tl^T?. [ht::rB l:I
<br />In the >_ven[ the title to ai,ilrress~~ises istrans„ferr~>d ar
<br />cor.tracte<{ to be transfe.rcd iro<<r the Mont*agtirs for any reasaii
<br />car ~y a*,~r c,+>tho:3 ~.~'natsoever, the entire pr~ncipal surrt:and
<br />i,:eruYCi i:iti~r~st snail. become, at onie, clue <<nd ~,~iyaCale at: the..
<br />et~~cCivn t;l ti'te "iortgageas.
<br />..~5tra thi- _~..`':cia,y ai .Iu, ~, 19~"~ e
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<br />."---__ ~ .~-.. ~. _ ~ 1 C 9" F _..._..~.,_...
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