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<br />PURCHASE MONEY REAL ESTATE MORTGAGE
<br />Lynn Allen Weaver and Janett K. Weaver, husband and wife, each in his
<br />and her own name and right and as spouse of each other, tortgagors, in
<br />consideration of SIXTY-SIX THOUSAND DOLLARS ($66,000.00) received from
<br />Mortgagees, mortgage to Garth O. Heasly and Evelyn C. Heasly, husband and
<br />wife, as joint tenants and not as tenants in common, Mortgagees, the
<br />following describer: real estate situated in Hall County, Nebraska:
<br />Lot One Hundred Fifty-Six (156) in West Lawn Addition to the
<br />City of Grand Island, Hall County, Nebraska, as surveyed,
<br />platted and recorded ,
<br />subject to restrictions and easements of record.
<br />This Purchase Money Real Estate Mortgage is given to secure the
<br />payment of the principal sum of Sixty-Six Thousand Dollars ($66,000.00)
<br />and interest from December 1, 1981, at twelve {12) percent per annum, the
<br />principal and interest being payable in monthly installments of $678.88
<br />per month on the 1st day of each month commencing January 1, 1982, and on
<br />the 1st day of each month thereafter "or twenty-three (23) consecutive
<br />months, repayment of the principal and interest being amortized over a
<br />30-year or 360-month period, with a balloon payment of $65,490.70 being
<br />due and payable with the 24th monthly installment of principal and interest,
<br />as provided in a Promissory Note dated December 1, 1981, for which this
<br />Mortgage is gi:•en as security.
<br />The Promissory Note provides that time is of the essence of the
<br />Promissory mote, and if Makers fail for a period of more than thirty (30)
<br />days to pay any monthly installment payment when due, the holder of the
<br />Promissory 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 legal 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 Note which this Mortgage secures, protecting the improvements
<br />from fire and other insurable physical damage hazards, loss, if any,
<br />payable to Mortgagees and Mortgagors, as their interests appear.
<br />Mortgagors are to furnish Mortgagees with a certificate of insurance
<br />evidencing the insurance on the improvements.
<br />Mortgagors agree to pay all taxes and assc:ssa~ nts upon the real
<br />estate and all other taxes, levies and assessments levied upon this
<br />Mortgage and the =r~issor°,~ Note which this Martgage is given to secury
<br />before payment ib delinquent. If Mortgagor€ €ail to Yay the taxes and
<br />assessments before delinquent or insure the improvements on the real
<br />estate as required by this Mortgage, Mortgagees may pay the taxes and
<br />assessments or other liens, obtain and pay premiums for the insurance on
<br />the improvements on the real estate, and are given a lien secured by this
<br />Mortgage for the amounts advanced with interest at the highest legal rate.
<br />If Mortgagors default for a period of more than thirty (30) days in
<br />payment of any monthly installment of principal and interest, or fail to
<br />perform any of the other agreements in this Martgage, Mortgagees, at Mort-
<br />gagees' election, may declare the entire debt secured by this Mortgage due
<br />and payable at once, and foreclose this Mortgage for the satisfaction of
<br />the total amount due.
<br />pated; NOYEMBCR 25
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<br />Lynn A en Weaver
<br />STATE OF NEBRASKA, COUNTY OF HALL:
<br />1981.
<br />.«
<br />s"
<br />(Janett K. Weaver
<br />The foregoing instrument was acknowledged before me on NoveMSe~ 25
<br />1981, by Lynn Allen Weaver and Janett K. weaver, husband and wife, each in
<br />his and her own name and right and as spa use of each other, Mortgagors.
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