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'~~'~~ REAL ESTATE MORTGAGE
<br />KNOX CGNSTRUCTICN, !RtC.
<br />o€ the County of HALL and State .,r NEBRASKA hereinafter milled the party of the first part, in
<br />consideration otTH!RTY TWO THOUSAND AND td01!00--------------------------.----_-__-____nG
<br />is hand paid, do hereb7 giant, bargain, sell and .convey unto the Home Federal Savings & Loan Association of. Grand LRltmd,
<br />Grand Island, Nebraska, and its successors and assigns, the following real estate, ~tuated;•• HALL
<br />County. State oL' NEBRASKA ,~ tawit:
<br />THE EASTERLY ONE-HALF (Ei) OF LOT EIGHTEEN C18) AND THE EASTERLY ONE-HALF (Eli OF THE
<br />SOUTH TWENTY FIVE (25} FEET OF LOT SIXTEEN (16) IN BLOCK SEVEN (7) IN COLLEGE ADDITION TO
<br />41EST LAWN, IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real Mate,
<br />and all the rents, issues and profits arising therefrom after default is performance of any covenant or condition herein con-
<br />tained; and warranty 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 pay all-taxes 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 toreado in some company, to be ap•
<br />proved by fhe said Aome Federal Savings & Loan Association of Grand Island in the sum of S ~ nsurab I e va i ue ,for
<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 iu good
<br />order.
<br />Third. To pay or cause to be paid to the Aome Federal Savings & Loan Association of Grand Island, its successors or
<br />THIRTY TWO THOUSAND AND N0/100------- -----------
<br />assigns, the sum of ~ -------- ---------HGLLAl1S,
<br />payable a_ follows:
<br />y'JL,000.OO lint JULY L{}, ly$1
<br />with interest thereon payable, according to the tenor and effect of flee one certain first mortp5a~gg~ of said mortgagors,
<br />boating even date with these presents. After maturity said bond draws interest at the rate of~ptpe per cent per annum.
<br />If said taxes and assessments are not paid when due, or if the buildings on said premises are not insured as above pro-
<br />vided, or if nay of said interest is not paid when due, then said who a debt shalt become due immediately, at the option of the
<br />aatd Association and shall thereafter draw interest at the rate a4P@r cent per annum.
<br />The mortgagor- hereby assign- to said mortgagee all rents sad income arising at any and alt times from said
<br />property and hereby authorize said mortgagee or its agent, at Ifs option, upon default, to take charge of said property and
<br />collect nll rents and income therefrom and appIq the same to the payment of interest, principal, insurance premiums, taxes,
<br />esseasmeats, repairs or improvements necessary fo keep said property in tenantable condition, or to other charges or pay-
<br />ments provided for herein or in the note hereby secured. This rent assignment shall continuo in force until the unpaid bal-
<br />ance of said nose is fully paid. The taking of possession hereunder shall in no manner prevent or retard said mortgagee in
<br />the colleMian of said sums by foreclosure or otherwise.
<br />Whether said debt beevmes due by lapse of time, or by reason of the failure of the party of the first partta eamply
<br />with any condition herein, the said Home Federal 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 while debt hereby secured, and to include
<br />therein-all taxes, assessments, insurance premiums and costs, paid by it or them; or said Association, its successors or
<br />asssnns, may foredase oaly as to the sum peak due, without injury to this mortgago, ar the displacement ar impairment
<br />--of fhe lien.therao£
<br />And .the.said first party sad the makers of said note, especially agree and declare that the separate estate of eacb 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 dobt hemby scented. -
<br />= After- the- commencement of any suit iu foreclosure the plaintiff therein shall be entitled to fire immediate'.pdssessinn af'
<br />-said, premises and the appointme~ of a receiver therefor, notwithstanding they may be the homestead of .;}ie'~occupant ati~
<br />atotwithstaadiag the parties liable for the debt may be solvent, sad the first party hereby consents to the appgl>ttment" of. a
<br />-;kfeceiver upon rho production of this indenture, without other evidence. - _
<br />The foregoing conditions and agreements, all and singular, being fully performed, this conveyamx shgli: be void„ other- ,
<br />-'wise to be and remain is fuIl-force and effect. ~ - , -
<br />. Signed tl+tA 28th day of_ J u I Y a, D., 19 80 - ~ . - ..- .
<br />', '
<br />Ia presence of KNOX CONSTRUCTION, INC. - -
<br />,:r.
<br />BY: iCeniaeth ts. Knox, Ffes i dent,
<br />Beu ahwKnox umphrey re~~
<br />- d,. i~r,~T-ice _~`+i~ FFb'
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