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~`T ~~ ~ ? 3 ~ `~ ~ PJR(~ASE !Y}LiEY REAL EST.^.TE MORTGAGE
<br />JOHIi R. ESLLER and MARLYN J. MILLER, husband and wife, each in
<br />his and her own name and right and as spouse of each other, MORTGAGORS,
<br />in consideration of SEVE14fiY-FIVE THOOSANO DOLLARS ($75,000.60),
<br />mortgage to EVA F. WEHB, MORTGAGEE, the fallowing described real
<br />estate (as defined in Section 76-20I of the Revised Statutes of
<br />Nebraska} i:n hall County, Nebraska:
<br />The westerly one third t113} of Lot Three (3) and the
<br />easterly one third tiJ3) of Lot ?our (A), all in Hlock
<br />Sixty-Three (63), in the Original Town, now City, of Grand
<br />Island, Hall County, Nebraska, as surveyed, platted and
<br />recorded, subject to the benefits and detriments of all
<br />.party wall agreements filed of record in the Office of the
<br />Register of Deeds of 8x11 County, Nebraska.
<br />This Mortgage is to sQCU;e the payment of the principal sum of
<br />$75,0Q4.00 and interest from Jur_e 2, 1450, at eight and one-half
<br />percent (S~jB) per annum, payable in ?.40 consecutive monthly install-
<br />ments of av`SO.S! each, according to the term$ of a Promissory Rote
<br />dated ,7une1, 1480, executed and delivered toy Japan R. Miller (one of
<br />the Mortgagors) to ?dortgagee, the monthly payments {including principal
<br />and interest) being payable as follows: $650.87 on ~TUIy 1, 1950,
<br />and $6SZt.57 on the first day o.f each month thereafter far 239 consecutive
<br />anonw„hs until the entire unpaid balance of purchase price, with
<br />in~teres~t, is paid in full. Thin Pra~aisaory :Note provides that time
<br />is of the essence of the Promissory Mote, and, if default is evade in
<br />any monthly payment for a period of more ttxan sixty (60} days, the
<br />holder of the Promissory :rote may, witnout notice or demand, declare
<br />the entire principal sum then unpaid, together with accrued interest
<br />tizereon, fir-diatcly due and payable. The Promissory Note can t~
<br />prepaid by the maker at any time,
<br />Mortgagors agree to pay all taxes and assessner.ts spon the real
<br />estate and .I1 other t-axes, levies and assessments '_evied upon this
<br />d~ls~rtgags anal the dtate whicta this Mca:rtgage is given to secure t~f<>re
<br />;paymeent is delinquent. If !!tartgagors fails to :Day thue taxes and
<br />assessments before delinguent, Mortga~,~e+e neray pay the taxes and
<br />V~2;i6'~t9~~':S9PJ~;nts or Btner 'Llen~ antl: 1.9 gitn,:,n a lien 9G.C'»:1r9''ra :;y t172S
<br />~eartgage for t.*J.6 affiaunt8 advanced w:lttl Int~°reSt at ttae C113nt=9t l~t3al
<br />rate.
<br />~.~=tgsr= ~:~ ~-- -Asure a r4 i~eep ....vrz all ..~ll~' ngs and
<br />improvements located onythe real estate forgprotection against fire
<br />and other casualties in ti:e sum of at least x75,000.00, tc
<br />carry the insurance with a responsible insurance company duly licensed
<br />to do business in Nebraska, and to have the insurance policy endorsed
<br />with a mortgage clause wish Loss payable to the Mortgagee. Insurance
<br />proceeds received may be used to pay for reconstruction of the
<br />destroyed impgo'~remeats or, if not applied Ear this puxpase, may, at
<br />the option of the E~rtgagee, be applied in payment of all or part of
<br />the unpaid indetftedness secured by this Mortgage. Zf Mortgagors
<br />fail to Derry Lhe insurance required by this paragraph, Mortgages
<br />may purchase the insurance and is given a Ilea secured by this
<br />Mortgage for the aisounts advanced with interest at the hlyhest loyal
<br />rate for the pays+ent of insurance premiums.
<br />if Mortgagors default in making payment of any monthly install-
<br />msnt far a period of more than sixty (60) days, or fail to perform
<br />any of then other duties and obligations of Mortgagors finder this
<br />MQrtgaae, Moriaa~lee, at Mortyagee's election, may declare the entire
<br />i3is~btca$,8ds'fi si3cure~d by thlr7 i4Srtgage cue and pay a171e 3c ^nce, and
<br />foreclose this Mortgage for the satisfaction of the total amount
<br />due.
<br />if t<~ae ~lortgaa_e brings an action to foreclose this Mortgage,
<br />T_he~ r+3^x~x rf +~sr arr,ninT rAk .-,f rnu
<br />estate, as provided try-Iaw~~
<br />Any failure or dsl.ay of ?~ortgager~ to exer~~lse any ::f Mortgagee's
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