|
<br />PU 79 • 11
<br />ST•731
<br />79- u~)443~
<br />David V. Chmelka and Carolyn K. Chmelka, husband and wife, as joints tenants with
<br />right of survivorship, and not as tenants in common
<br />. Moregagor(s),
<br />Hall Nebraska
<br />of Cotsn ty, _ in
<br />ecnsideration o9 the advance o1 the principal sum recited ire the note heroinetter described and in eonaidsration of future
<br />edv aces m¢da by rt a e t m rt or(s}or any of them esheroinafter provided. hereby mortgages and conveys to:
<br />~ommerc~al {~ta~i~r~a~ ~at~c ~a~rust Com an~r r
<br />whose rinci el office is at ____ 'e~T_~~= vran3 _r1atS8--
<br />P p - -------- .Nebraska. Mortgagee,
<br />the :ollowing described real property in _13d1J..- __. __.._______ County. Nebraska.
<br />:object to oil, gas. and mineral rights owned by parries oilier Than Mortgagor(s), oaisting easements of record;
<br />reservations in Unitsd States and Stale patents: end the rights of the public in all highways:
<br />A Tract of Land comprising the Westerly Fifty-six feet (56') of Lot Six (6),
<br />Franzen Subdivision, a replat of Lot Twenty-one (21), Island Acres, Grand Island,
<br />Hall County Nebraska.
<br />r
<br />In the event the title to said real estate is transferred, or contracted to be
<br />transferred, from the undersold for any reason or by any method whatsoever, the
<br />entire principal sum and accured interest shall at once become due and payable at
<br />the election of the holder hereof. Failure to exercise this ogtion because of
<br />transfer of title as above stated in one instance shall not constitute a waiver of
<br />the r ghr ±o exercise the same in the event of any subsequent transfer.
<br />containing acres. more or less, according to Government survey: together with all 01 the right. title. and
<br />interest-of the Mortgagor(s) in said properly new owned, as hereafter acpuired, and including elf 4uifdings end
<br />improvements now on, or hereatiar placed upon, said rest property, including also aft water, irrigation, and drainage
<br />rights.
<br />This mortgage is given to secure:
<br />Jima 25, 1979 & June 26, 1979
<br />(a} A promissory note dated given try M$rt~aaar~ to Mortgagee.
<br />m ihs puncipet sum of Twenty-four th~USan 5 my-one L}16IISOnd an o77 ~s DOLLARS.
<br />payable with interest according to the terms of said note and any instruments taken in refinsncing, a;[ending, ar
<br />renewing said indebtedness or any pert thereof;
<br />(b) Any lumre advance(s). with interest. which may ba made from time to time by Mortgagee, at its option, to
<br />Mortgegor(sl. or any of them or their successors in title, for any purpose in any amount or amounts. provided,
<br />however, that such future end edditionai advance(s) shall he ao limited that th~ tote(pprigqcipalamoumsoutsianding
<br />at any one time shall not a*ceed the sum of E4rty-five thousand an no/ 1QQ-------- DOLLARS.
<br />and provided ivrther the luturs advance(s) so made shall be payable in accordance with the terms of a promissory
<br />note ar notes whtth may be taken to evidence such advance{s) or any part thereot_iThe optional advance(s) herein
<br />authorized shall be cons,dared additional to the advance(s) hereinafter authorized to be made by the Mortgagee for
<br />lice pratectwn o! the security or Mortgagee's interest therein.)
<br />This raortgsge to be void upon ilia payment in Lull with interest of any obligations, present or luturs, secured or to ba
<br />Secured hereby.
<br />The Mortgagor(s). and each of them, hereby werrant(sl ihet they e,e lee owners of the mortgaged real property; that
<br />they will defend the title against all tlaimants whomsoever, end they relinquish all rights of hamestesd in said promises,
<br />end covenant and agree with ihs Mortgagee as toilcws:
<br />(1) To pay when dw alt ta.ea. Lens, judgments. or assessmems whrth may bo Iewhdly assessed against the property
<br />herein mortgaged. end [ha rental charges upon any leases assigned as additonal security tar Chia mortgage.
<br />;2) To insure and keep insured buildings end other improvements now nn or which nisy hereafter be placed on said
<br />premises to the utiataction of ens Mortgagee Any policy evidencmy such insurance shall be endorsed with a mortgage
<br />clause. approved by and in ts~. or of Mortgages. and deposited with, loss nc~raunder to be payable to. Mortgogee es its
<br />interest may appear. At the option of Mortgagor{sl. end subp•ct to general regulations of the farm Credit
<br />Admmistratron, sums so staved by Mongagae may be used to pay for reconstruetwn of the destroyed improvement(sl:
<br />or, if not so applied, may, at the opUOn at Mortgagee. be applied in payment o1 any indebtedness, matured or unmetured.
<br />secured by [his mortgage.
<br />;33 To keep all buildings occupied and in goad repair, and to retrain from the commission of any acts of removal,
<br />demolition w impairment thereol: not to cut or remove, or permit to be cut or removed, any wood or timber Irom asid
<br />real property, and to commit or permrt no waste or impairment of the value of this security; to continuously practice
<br />approved methods of farming an said finds, to prevent erosion and the spread at noxious and damaging weeds, and to
<br />preserve the fertility of the soil.
<br />f41 That in the event Mortgagor{s) tail(s) to pay when due any tear. s. rents! Charger upon any leases assigned as
<br />additional security for this mortgage, liens. judgments, or ass¢ssmems lawfully sssezsed against the property herein
<br />mortgaged. or toil(e) is rtasintain insurance ax heranbelora provided. Mortgagee may make such payment or provide
<br />such inwrencs, end ihs amount(s) paid therefor shall becon:a s past of the indebtedness secured hereby, duo and
<br />WysWe vnmediatsiy, end sftag bear intarast at the currant rate of ere Mortgsgco at the rims the Mortgagee makes such
<br />prymsnt.
<br />(5) That in the want Mortgagor(t(defavft(s) in the payment of said principal sum, or in the repayment of any additional
<br />advancs(a) matfe as heroin provided, ar of any intarast thereon, at the time when the same shall be due. pr with r¢spact to
<br />any eovansnt or condition hsreol, than, as the option e{ Mortgagee, the entire indebtedness secured hereby shall
<br />torfhwiUt bseona dtrs and piya4'~,, shah bear inurest at the current rate of rho Mortgagee on the tlsta of the dafsult, end
<br />the Martgsg+» may immsdutely loreclass this mortgage or pursue any other available legal remedy. In rho event of any
<br />action by Mortgages to sniores collection of the mortgage debt, the Mortgagors} ague(s) that any expense incurred to
<br />grotto+ar saiend en sbatrsct of title shstl, wMn paid by Mortgagee, become a part of the debt secured hereby. end shall
<br />tae paid by Martgagar(sl together with aft of iF,e usable Costs of such action.
<br />REAL ESTATE MORTGAG `.` -_°°•, t~•~_-~_-: ..
<br />NEBRASKA
<br />(Open-End: To Secure Present and Future Obligations and Advenees)
<br />Data June 26, 1979
<br />
<br />
|