|
~~ ~ti ~~~
<br />Rc,iiL E&'PATE !4OP^'GAGE
<br />Ronald E. Shinabery and Lana .'r. Shinabery, husband and wife,
<br />as joint tenants with rigid of survivorship and net as tenants in
<br />cotmnon, herein called the Nortgaacrs, in consideration of rme
<br />Hundred ^houband and NO/100 I3ollars (5100,000.00) do hereby mort-
<br />gage to Eiton w. :,uebs and virginia A_ i;uebs, t,usband and v-ite,
<br />as joint tenants with right of survivorship, herein called the
<br />M,or*_gagees, the following described real estate in Hall County,
<br />an6 State of Nebraska:
<br />Lots One (1) , Twc ( 2 ) and ^°hree ( 3> , Setae
<br />Subdivision in the City of Orai.d Island, Hall
<br />County, Nebraska
<br />Together with ali the iunprove~aenta now or hereafter erected
<br />on the property, and all easements, rights, appurtensaces, t!aAts,
<br />royalties, mineral, oil and gas rights and profits, water, xetes
<br />rights and water stock, and all fixtures haw oz hereafterr att+tcbed
<br />to the property, all of which, including replacements and additicets
<br />thereto, shall be deemed to be and ses~ain a part of the pzcty
<br />covered by this Mortgage; and ali of the foregoing, together vith
<br />said property are herein referred to as the "Property".
<br />Mortgagors covenant that Mortgagors are lawfully seised of
<br />the estate hereby conveyed and heve the right to sortgage, grant
<br />and convey the Property, that the Property is encumbered only by
<br />a first mortgage to ^'he First Federal Savings s Loan Association
<br />of Lincoln, and that Mortgagors will warrant and defend generally
<br />the title to the Property against all claims and demands, subject
<br />to any easements and restrictions listed in a schedule of exceo-
<br />tiona to coverage in any title insurance policy insuring u!art=
<br />gagees' interest in the °ro?~.rty.
<br />'I`bis 2~rtgage is given to secure the payr:ent a* the principai
<br />sit of One Hundred Theusand and NOl100 ''follars ($100,000.00) with
<br />Interest Cher€on, according to the terms o' a certain grc~siesary
<br />Dote of even date, executed by the Mortgagors to the '3ortaaoeea,
<br />clue the 4th day of February, 1980.
<br />The 3+k?rtgagors Further agree to maintain insurance upon the
<br />above described premises in an amount not less than the indebteflnesa
<br />due tbP Mortgagee with a loss payable clause in favor of the
<br />Mortgagors and Mortgagees as their interests may appear. `^he
<br />Mortgagors agree to pay all taxes and assessments upon said
<br />premises and all other taxes, levies and assessments levied ucTOn
<br />this Hortgage and the t3ote which this Mortgage is given to secure
<br />before the same become delinquent. In the event the Mortaagars
<br />shall fail to obtain such insurance or pay such taxes before
<br />delinquent the Mortgagee may purchase such insurance and say such
<br />taxes or other liens and shall have a lien secured herebv for the
<br />amount a advanced with interest thereon at the rate of sixteen
<br />per cent (I68) per annum.
<br />In the event the Mor`.gagors default in the payment of said
<br />i~.leLtedeso v any i:istallment thereof, or fail to perform any
<br />tsf the other agreements herein, the P4ertgagee9 at their election,
<br />spay declare the entire debt secured by this Mortgage to be due
<br />and collectable at once: and may foreclose this Mortgage for the
<br />aatiefaetion thereof oonsiatent with the terser of a separate
<br />agreement entered into under this same date.
<br />Mortcragars shall have the option, at any time during the loan
<br />terns, of releasing from this 1!+eorta3ge, either Lots (hie (1) , 'T'wo (2)
<br />
|