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~~- ~~~~~REAL ESTATE MGRTGAGE
<br />h11D-CONTINENT ENTERPRISES, INC.
<br />HALL NEBRASKA ereinafter called the party of the first part, in
<br />of the County of and State of h
<br />conaIderatioa of FOUR HUNDRED FIFTY THOUSAND AND PJO/100----------------------------~SOLLARS,
<br />is hand paid, do hereby grant, bazgaln, sell and convey unto the Home Federal Savings & Loan Association of Grand Island,
<br />Grand Island, lebrsska, sad its successors and assigns, the ioliowing real estate, situated in HALL
<br />County, State oL NEBRASKA ,..-„ towit:
<br />(See Exhibit A attached)
<br />Together with ail the appurtenances thereunto belonging, and ail covc-uan~ iu all the title deeds rua~,ing with said real esiafe,
<br />and all the rents, issues and profits arising therefrom after default in performance of any covenant or rnnditiou herein con-
<br />tained; and warrants the title thereto perfect and clear except for this mortgage.
<br />During the time this mortgage is in force the mortgagors agree:
<br />First To pal' all taxes and special assessments levied against said premises, including all taxes and assessments leveled
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second To keep aII bnildings 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 ~ r nsurab I e value fm.
<br />the benefit of the said Association, and its successors or assigns; and to deposit said policies with said Association, and shall not
<br />commit or suffer any waste on said premises, and shall put and keep said real estate buildings and improvements fa good
<br />order.
<br />Third To pay or cause to be paid to the Home Federal Savings & Loan Association of Grand Island, its successors or
<br />assigns, the sam of R FOUR HUNDRED FIFTY THCUSAND AiJD ?JO! 100-------------------------- DOLLARS,
<br />payable as follows:
<br />$450,000.00 DUE JULY 1, 198A
<br />with intuest thereon payable, according to the tenor and effect of the one certain first mortgagee ~,,,Qf said mortgagors,
<br />bearing even date with these presents. After maturity said bond draws interest at the race ofa; per' cent per annum.
<br />If said taxr~ and assessments are not paid when due, or if the baildings on Bald premises are not insured as above pro-
<br />vlded, or if any of said intercet is sat paid when due, they said w}}~~o--l~e~--debt shall become due immediately, at the option of the
<br />^aid Association, sad shall thereafter draw Interest at the rate df~7tl~~er cent per annum.
<br />The mortgagor- hereby assign to said mortgagee all teats and income arising at any and all times from said
<br />psperty sad hereby authorire said mortgagee or Its agent, at its option, upon default, to take charge of said property and
<br />evllect all teats and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />assessments, repaias or improvements necessary to keep said property in tenantable rnndition, or to other charges or pay-
<br />ments provided for herein or in the note hereby secured. This rent assignment shall continue in force tmttl the unpaid bob
<br />aace of said sole is folly paid The taking of possession hereunder shall in no manner prevent or retazd said mortgagee in
<br />the colleMion of said sums by foreclosure or otherwise.
<br />Whether said debt bernmes 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 Feder Savings & Loan Association of Grand Island, the successors and assigns,
<br />shall have the right to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to inrlnde
<br />therein ail taxes, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />assigns, may foreclose only as to the sum past due, without injury to this mortgage, or the displacement or impairment
<br />of the Iien thereof.
<br />And the said fast party and the makers of said note, especially agree and declare that the separate estate of each and
<br />every one of them, inlcluding both that now owned sad that hereafter acquired, is pledged sad bound for the payment of
<br />the debt hereby secured,
<br />After the commencement of any snit is foreclosure the plaintiff therein shall be entitled to the immed+ate possession of
<br />said Eternises and the appointment of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />notwithstanding the parties Liable foz the debt may be solvent, and the first party hereby consents to the appointment ad a
<br />Receiver span the production of this iadentirre, without other evidence.
<br />the foregdng conditions and agteemeats, all and singular, being fully Performed. this conveyance shall be void, other-
<br />wbe to be and remain is fall force and effect
<br />Signed thin 'F7 ~ ,t.9 et ,J tJ~- A D., iBZ._
<br />Ia Presence ~
<br />FAI D-C0, T NE Et4TERPRI INC.
<br />3•~
<br />i~? i I i s h P
<br />Attest•
<br />onald Vonderohe, Secretary
<br />
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