81005150 - Laserfiche WebLink

Browse

RrAL ESTATE MORTGAGE MARION D. LARSEN AND LORE"i'TA L. LARSEN, husband and wife, herein called the Mortgagors, in consideration of Forty-Four Thousand Two Hundred Fifty°Nine and Noj100 Dollars {$44,259.00} do hereby mortgage to DEAN R. ERICKSON AND NAOMI J. ERICKSON, husband and wife, herein called the Mortgagee, the following described real estate ir. Hall County, and State of Nebraska: An undivided 1/5 interest in and to Lo*_s One (1), Two (2}, Three (3), Four (4), Five (5), Six (n), Seven (7) and Eight (8) in Bels Subdivision, City of Grand Island, Hall County, Nebraska. This Mortgage is given to secure the payment of the principal sum of $44,259.00 and interest thereon, according to the terms of a certain Promissory Note of even date, executed by the Mortgagors to the Mortgagee, due the 2nd day of January, 1993. The Mortgagors shall maintain fire, windstorm and extended cove_r~ge insurannce with a mortgage clause on the buildings on said premises in the sum of $ The Mortgagors agree to pay all taxes and assessments upon said premises and all other taxes, levies and assess- ments levied upon this Mortgage and the Note which this I~rtgage is given to secure before the same become delinquent. In the event the Mortgagors shall fail to obtain such insurance or pay such taxes before delinquent, the Mortgagee may purchase such insurance and pay such taxes or other liens and shall have a lien secured hereby for the amount so advanced with interest thereon at the rate of 6 per cent per annum. In the event of default in the performance of any of the terms and conditions of this Mortgage cr the ~:ote secured 2,y it, the Mortgagee shall be entitled to immediate p vsr~ession of tiae ~zvgaerty above t~.ie.?crlb~.d m+.d all th -c r~_r_ts, '-~v€~a7u€e and in~~?1ae derived therefrc3~i s'auri.sag Suc: h tiiiec as the mortgage indeL~~:dness remains unpaid shall be applied by the Mortgagee to t~~e payment of tine Note and ali otheE sums secured hereby after deduction of any necessary costs of collection. In the event the Mortgagors default in the payment of said indebtedness or any installment thereof, or fail to perform any of the other agreements herein, the Mortgagee at Mortgagee's election may declare the entire debt secured by this Mortgage to be due and collectible at once; and may foreclose this Mortgage for the satisfaction thereof. The Mortgagors further agree that payment hereunder shall be made to Mortgagees as joint tenants and in the event of the death of either of said Mortgagees, all payments due hereunder. shall be made to the survivor of them who may execute and deliver a release hereof which shall extinguish _t 1 ~} s i-~r,..,~,a~ thr a._~r~.t~ ...._ al a..g:ge° a~3~:...ffi~_. Signed this -~ ~ day of December, 1979. arson Larsen / v •~~ Lore rsen - ~l_