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<br />s4fORT FORM Loan Number__46495____-_1__ _- 16
<br />PROPERTY IMPRO\/EMENT ^ ilranen "rSoi
<br />Fo1lN No. 21 i tR[v. i 218ni V ~ ~ `~~ -a ~ ~ ^
<br />KNOW ALL ANN BY Tix°ESE PRESENTS
<br />THATe.James D, Stairs and Sharon Ra~_Stairsz husband-and wifeT,aointlx.and.-each in
<br />their own right,
<br />hereinafter caIIed Mortgagors, in consideration of the sum of FIVE_THOUSAND- AND- NOJ 100-----------
<br />($ 5,000.00 )DOLLARS, the receipt of which is hereby acknowledged, do hereby MORTGAGE
<br />sad CONVEY an absolute title, including aIl the rights of homestead and inhentance, unto FIRST
<br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, NEBRASKA, herpLf*~ called
<br />Mortgagee, its successors sad assigns, the following described real Mate, situated ia_----. Hall ................_..
<br />Cotmty, State of NEBRASKA, to-wit:
<br />Lot Seven 7) in ?lock Six ;6) in ?ussel Wheeler's
<br />Addition to the City- of :,rand Island, KaL County,
<br />Nebraska.
<br />TO RAVE AND TO HOLD the i.:al estate above described, with all appurtenances thereunto
<br />belonging unto the said Mortgagee, forever, provided always, and this mortgage is upon the eapress con-
<br />dition that if the aforesaid Mortgagors, their heirs, esecutora, administrators or assigns shat pay or cause
<br />to be paid to the said Mortgagee, its successors or assigns, the principal sum hereinabove set forth, all
<br />accarding to the tenor and effect of a certain installment note of said Mortgagors bearing even date with
<br />this mortgage, sad shall pay taxes and assessments levied upon said real estate, and aIl other taxes, levies
<br />and assesanaeats levied upon this mortgage or the note which this mortgage is gives ~ secure, before thA
<br />same or say installmna* thereof becomes delinquent, Then this mortgage to be void, otherwise to remain
<br />in full force.
<br />IT IS FURTHER AGREED (1) Thai if the said Mortgagor shall fail to pay such tales, the
<br />Mortgagee may pay the same and the sum so advanced with interest shall be paid by said Mortgagors,
<br />and this mortgage shall stand as secun'ty for the same. (2} That hiortgagars covenant with the Mortgagee
<br />that they are lawfully seized of said real estate and covenant to warrant and defend the said real estate
<br />against the lawful claims of all persons whomsoever. (3) That in case of a foreclosure of this mortgage,
<br />the plaintiff in such proceedings shall be entitled to take possession of the premises, protect the same and
<br />collect the rents, issues and profits thereof. (4) That a failure to pay any of said money or any install-
<br />ment thereof when the same becomes due, or a failure to camply with any of the foregoing agreements,
<br />shall cau~ the whole sum of money herean secured to become due and coAectible at once at the option of
<br />the Mortgagee.
<br />TRA.~iSFER OF THE PROPERTY; ASSUMPTION. If aH or any part of the Property cr sa
<br />interest therein is sold or transferred by Mortgagor without 3lortgagee's prior written consent, encluding
<br />fa) the cr~tion of a lien ar encumbrance subordinate to this Mortgage, {b) the creation of a purchase
<br />money security interest for household appliances, (c) a transfer b devise, descent or by operation of law
<br />upon the death of a joint tenant or {d) the grant of any leasehold intermit of three years or less not con-
<br />taining an option to purchase, Mortgagee may, at Mortgagee's option, declare all the soma secured by this
<br />Mortgage to be immediately due and payable.
<br />If Mortgagee eaercises such option to accelerate, Mortgagee shall mail Mortgagor no13ce of
<br />acceleration sad such notice shall provide a period of not less than 30 days from the date lire notice is
<br />mailed within which Mortgagor may pay the soma declared due. If Mortgagor fails to pay such sums prior
<br />to the ezpiratioa of such period, Mortgagee may, without further notice or demand on Mortgagor, invoke
<br />the powea of sale and any other remedies permitted by applicable law.
<br />i%
<br />Signed this....- ~.t_...day of... - ~./sV ` -~ ° -------°....- °-_......--_--° ---~--~........., 19.-~~---•
<br />~ , 1 ~ ,
<br />.I b. S'ta rs - F~~~
<br />STATE OFf3EBRASKA baron Kay Stairs
<br />3
<br />=-
<br />On tt~ _.__1 7......-... dap ad .__.. ~~!!!.----.----, 19y[... before me. the undersigned, a Notary Public, in and for
<br />~~ qty. ~,~,~, ~ -James D. Stairs-and-Sharon-Kay Stairss--lrushand-and wife,
<br />parMnaa3ky ]tamvri b mo to be the idantimt persona whose names are affixed to ttx above sad foregoing instrumeaR ae
<br />_ snd each s~eknowiedged saui imtnrmeat to be hix or her votuntary act and deed
<br />Grand island, Nebraska
<br />wftoao mp hand and natariat seat at.._.-.__'..._.._.._.....,...._.._......._....._.._ .................._-._.._......-..._..........---_......_...-.._...
<br />the data tact above w~ritted. `
<br />Notary Pn61ie.
<br />'+1y dies: un ~~1t~.~.,_.. ... .tll~lG[:=bisiaasaistsr..l
<br />8. ttati~s
<br />-, ~ti lea. ~v. ~cc. t t. a ~s r
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