|
<br />P'K'i~BCIiAs$ i~t~c:Z icE~ll, F,'"^~`I'Ai~ ."-#'.}.itT.rsA~£
<br />Delmar D. Holz and Gw~enith J. ~;Ioiz, husband and wife, each 'in h~-^ and
<br />her own name and right and as spouse of each other, Mortgagors, in con-
<br />sideration of FIFTEEN THOUSAAD DO:,LAAS ($15,000.00) received from Mortgagee,
<br />mortgage to Alice Marie Killington, Mortgagee, the following described
<br />real estate situated in Hail County, Nebraska:
<br />Lot One (1), Block Thirteen (13), Packer and Barr's Addition to
<br />the City of Grand Island, Hall County, Nebraska, as surveyed,
<br />platted and recorded.
<br />This Purchase Money Real Estate Mortgage is given to secure the
<br />payment of the principal sum of Fifteen Thousand Dollars ($15,000 00) and
<br />interest from October 1, 1981, at thirteen (13) percent per annum, the
<br />principal and interest payable in monthly installments of $169.18 per
<br />month on the 1st day of each month commencing November 1, 1981, and on the
<br />1st day of each month thereafter for thirty-five (35) consecutive months,
<br />repayment of the principal and interest being amortized over a 25-year or
<br />300-month period, with a balloon payment of $14,707.80 being due and
<br />payable with the 36th monthly installment of principal and interest, as
<br />provided in a Promissory Note dated October 1, 1981, for which this Mortgage
<br />is given as security.
<br />The Promissory Note provides that time is of the essence of the
<br />Promissory Note, and if Makers fail for a period of more than sixty (60)
<br />days to pay any monthly installment payment when due, the holder of the
<br />Frne~iast~nt Note is given the option to declare the Note immediately due
<br />and payable without notice or demand. Upon default of any monthly install-
<br />ment of principal and interest when due, the unpaid monthly installment of
<br />principal bears interest at the highest Iegal rate until paid.
<br />Mortgagors agree to insure the improvements on the real estate for a
<br />dollar amount at least equal to the unpaid balance due and payable on the
<br />Promissory Nate which this Mortgage secures, protecting the improvements
<br />fray fire and other insurable physical damage hazards, loss, if any,
<br />payable to Mortgagee and Mortgagors, as their interests appear. Mortgagors
<br />are to furnish Mortgagee with a certificate of insurance evidencing the
<br />insurance on the improvements.
<br />M4rtgago~-s agree to pay all taxes and assessments upon the real
<br />estate and all ocher taxes, levies and assessments levied upon this Mortgage
<br />and the Promissory Note which this Mortgage is given to secure before
<br />pay€~nt is delinquent. If Mortgagors fail to pay the taxes and assessments
<br />before deli?~uent or insure the ~~._~rovements on the real estate as reyuir~:.3
<br />by this Mortgagee, Mortgagee may pay the taxes and assess;te~ts ~~ at her
<br />ba'.es a, t,~.~.. ..-... pay p~~,_,¢~_~ ~_,r ~ h~ 3n~i;~a n~~ C3n t;2e i...pr`J6' m@nta L'n
<br />t13~: v33's estat8,•' ziz'~d 1.~ giver= a lien ~vu=ed by t=k3i~ R~~rtg.?~g~4f[ar' the
<br />amounts advanced with interest at the highest legal rate.
<br />Zf Mortgagors default for a period of more than sixty (60) days in
<br />payment of any monthly installment of principal and interest, or fail to
<br />perform any of the other agreements in this Mortgage, Mortgagee, at Mort-
<br />gagee's election, may declare the entire debt secured by this Mortgage due
<br />and payable at once, and foreclose this Mortgage far the satisfaction of
<br />th$ total amount due.
<br />Mortg~sgors have the right of prepayment all or any part of the amount
<br />due an the Promissory Note secured by this Mortgage at any time, without
<br />penalty .,
<br />Dated : Sep temp r `~,,,, 1381 .
<br />(Delmar D, Hale}
<br />BTATE OF Ld1SBEASRA, C A1TY OF HALL:
<br />_ /
<br />,~n~ ~ ~t iol2~~
<br />The foregoing instrument was acknowledged before me on September ~''_,
<br />1981, by Belmar D. Holz and Gwenith J. Holz, husband and wife, each in his
<br />,and he$ own name and right and as spouse of each other, Mortgagors.
<br />_. ~ f % )
<br />,fir . ~.-•~~_ ~.~ i ~ ~watrar~ur-mss:a~
<br />- [4`tA~ P~~~ 1 ~ v~~~~,..~si
<br />rtr , ~. tx r~x ~
<br />
|