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sa- <br />Lot Fourteen (14) of Bosselman Second Subdivi- <br />sion, an addition to the City of Grand Island, <br />as surveyed, platted and recorded in Hall <br />County, Nebraska <br />said real estate being subject, however, to a prior Real Estate <br />Mortgage, dated as of July 1, 1979, in favor of Commercial National <br />Bank s. Trust Company, Grand Island, Nebraska, Trustee, which appears <br />of record in the office of the Register of Deeds of Hall County, <br />Nebraska as Document No. 79-005187. <br />TO HAVE AND TO HOLD all of the same with all privileges and <br />appurtenances thereunto belonging unto the Mortgagee and to its <br />successors and assigns, forever: <br />PROVIDED, HOWEVER, that if Mortgagor, its successors or <br />assigns, shall well and truly perform or pay or cause to be per- <br />formed or paid all of said obligations of Mortgagor under the <br />Guaranty according to the true intent and meaning thereof then <br />upon performance of such obligations and final payment or satis- <br />faction of such obligations this Mortgage and the rights hereby <br />granted shall cease, determine and be vcid, otherwise this Mort- <br />gage to be and remain in full force and effect. <br />It is further agreed that upon the happening of any <br />failure or default on the part of Mortgagor in performance of i'~s <br />obligations under the Guaranty, the Mortgagee, its successors or <br />assigns shall be entitled to immediate possession and use of the <br />premises herein conveyed and to the rents, issues and profits <br />thereof, the same being hereby pledged and assigned as additional <br />security for the obligations and liabilities secured by this <br />instrument and the Mortgagee, its successors and assigns shall <br />be entitled to a receiver of said property and to the rents, <br />issues and profits thereof, immediately upon such default and a <br />receiver .may be appointed by any court of competent jurisdiction <br />and all rents and profits, income and revenues from such property <br />shall be held by such receiver as additional security for the <br />payment of liabilities and obligations hereby secured, and the <br />Mortgagee, its successors and assigns shall also at once become <br />entitled to foreclosure and sale of the premises, <br />_~_ <br />