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5~-- ~~ READ. ESTATE MORT~A~E
<br />KhJOX COPS T RUCT I ON , i NC.
<br />of the County of HALL and State of NEBRASKA hereinafter called the party of the fisst part, in
<br />coaeideratlon nr THIRTY THOUSAND AND NO/I00------------------------------------------~
<br />LLAliS,
<br />In head Paid, do hereby grant, bargaiq sell and coney unto the Home Federal Savings & roan Association. of Grand Ialaad,
<br />Grand Ishutd, Nebraska, and its autxeasots and assigns, the following real estate. situated in HALL
<br />Comty, State of NEBRASKA .-, ~~t;
<br />LOT TWELVE ({2) AND THE NORTHERLY TEN (IO) FEET OF LOT FOURTEEN (14) IN-BLOCK SEVEN (7) IN
<br />COLLEGE ADDITION 10 'REST LAWN, IN GRAND, ISLAND, NEBRASKA
<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real estate;
<br />and all the rents, leases and profits arising therefrom after default in performance of any covenant or condition herein con-
<br />tained; and warrants the titre thereto perfect and dear except for this mortgage.
<br />During the time this mortgage is is force the mortgagors agree:
<br />First To pay all rases and special assessments levied against said premises, including all taxes and assessments levied
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second. To keep all buildings thereon insured against loss by fire, lightning and tornado in some rnmpany, to be ap•
<br />proved by the said Home Federal Savings & Loan Association of Grand Island in the sum of 5 ! nsurab I e value for
<br />the benefit o£ the said Association, and its successors or assigns; and to deposit said policies with said Association, and shall not
<br />rnmmit or suffer any waste on said premises, and shall put and keep said real estate buildings and improvements in good
<br />order.
<br />Third. To pay or cause to be paid to the Hame Federal Savings & Loaa Association of Grand Island its successors or
<br />assigns. the sum of $ I H I rtTY TI-PJUSAND AND "10' i CO---------------------------°----------~l,I,Agg,
<br />payable as follows:
<br />$30,000.00 D`JE ,;ULY 28, f981
<br />with interest thereon payable, according to the tenor and effect of the one cetain first mortgaggg.. ! ee ~ said mortgagors,
<br />j+ bearing even date with these presents. After maturity said bond draws interest at the rate of'py ~er cent per annum.
<br />If said taxes sad assessments are not paid when due, or if the buildings on said premises are not insured as above pro-
<br />vided, or if any of said interest is not paid when due, then said ~v c}e~t shall become due immediately, at the option of the
<br />_- said Association, sad shall thereafter draw interest at the rate. o'f ~~er cent per annum.
<br />- The mortgagor- hereby assign- to said mortgagee all rents and income arising at any and all times from said
<br />property and hereby authorize said mortgagee or its agent, at its option, upon default, to take charge of said property and
<br />collect all rents and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />y!! assessments, repairs ar improvements necessary to keep said properly in tenantable condition, or to other charges or pay-
<br />- meats provided for herein or in the note hereby secured. This rent assignment shall continue in fome until the unpaid bal-
<br />^! anee of said note is ful g of possession hereunder shall in no moaner revent or retard said wort ogee in
<br />ty paid. The !akin P g
<br />the calleetion of said sums by foreclosure or otherwise.
<br />whether said debt becomes due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />~- with arty condition hernia, the said Home Federal Savings & Loaa Association of Grand Island, the successors and assigns,
<br />r3 shall have the right to begin the foreclosure of this mortgage at once on rho whole debt hereby secured, and to include
<br />- -therein sit taxes, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />a~-, mag~ #oraclo~ only ,~ to the stun past due, without injury to this mortgage, er the displacement or impairment
<br />of the lien thereof.
<br />- 4nd the said first Party and the makers of said note, especially agree and declare that the separate estate of each and
<br />- - every one of them, including both that now owned and that hereafter acquired, is pledged and bound for the payment of
<br />;~ the: debt hereby secured..
<br />-_ After the commencement of say suit in foreclosure the plaintiff therein shalt be entitled to the immediate possessiaaf,of'
<br />said premises and the appointment of a receiver therefor, notwitbstandwg they may be the homestead of the gecupa¢t; epd,~
<br />- - -uotwitiudaadiag theTarties liable for the debt may bo solvent, and rho first party hereby consents to rho appoiagnent^of~~a
<br />`s1-~-_ Receiver upon the production of this indenture, without other evidence. '
<br />'%? The foregoing conditions and agreements, all and singular, being fully performed, this conveyance shall lle, void, other-
<br />wise to be and remain- in full, force and elfecA
<br />Signedt~tw 28th day aL Ju I y a, D., 19 a0
<br />~.,
<br />~ iCNOX CONSTRUCTION! iNC.
<br />t - In presence of
<br />°-. >i ~.
<br />;a ay: ~~nne~nf~- ~^;pcx, Dresident
<br />reu a .nog ump .r ~y, '.cre. , y
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