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86- 101W
<br />ASSIGNMENT AND MORTGAGE OF INTEREST
<br />Kim ALL MEN BY THESE PRESENTS:
<br />That we, James E. Foster and Carolyn M. Foster, husband and
<br />wife, each individually in his and her own right and as husband
<br />and wife, being the Sellers in that certain contract of sale and
<br />agreement made and entered into on the 15th day of May, 1984, on
<br />the following described property, to -wit:
<br />Lot Nine (9), Island, in Section Fifteen (15),
<br />Township Ten (10) North, Range Nine (9), west
<br />of the 6th P.M., Hall County, Nebraska, con-
<br />taining 33 acres, more or less,
<br />by and between us as Sellers, and Charles McDonald, as Buyer, for
<br />and in consideration of a certain promissory note of this date in
<br />the initial amount of $ 20,250.00 together with future advances
<br />on said note not to exceed a total of $ 35,000_00 together
<br />with interest thereon at 1.2.50 percent per annum from and after
<br />the 26th day of March 19 86, which is hereby
<br />made, executed and delivered to ,lames E. Foster and Carolyn M.
<br />Foster to Norwest Bank Nebraska; N.A. do hereby assign, transfer and
<br />set over to Norwest Bank Nebraska, N.A. all of our right, title and
<br />interest in and to such contract and agreement, together with any
<br />and all monies due or which may become due thereunder and the real
<br />estate thereby conveyed, to have and to hold the same to Norwest
<br />Bank Nebraska, N.A_, its successors and assigns forever, subject
<br />only to the conditions therein contained.
<br />We, the undersigned, each individually in our own right and as
<br />spouse of the other, specifically authorize Norwest Bank Nebraska,
<br />N.A., its successors and assigns, to receive and receipt for any
<br />and all sums .due to us or to either of us from the Buyer under such
<br />contract, and to give a good and valid receipt therefor and we do
<br />further authorize Norwest Bank Nebraska, N-A., its successors or
<br />assigns, in case of default on the part of the Buyer under such
<br />contract and agreement, to bring in its own name, or in our name
<br />and as our attorney for that purpose, any and all actions or pro-
<br />ceedings, either at law or in equity, for the recovery of any sums
<br />due under such contract or for the foreclosure thereof, and agree
<br />that in the event of suit thereon and foreclosure thereof, that
<br />the said Norwest Bank Nebraska, N.A., may first out of the proceeds
<br />of such action, reimburse itself for any costs and expenses in-
<br />curred in such suit or foreclosure, pay any and all other or prior
<br />liens and encumbrances and reimburse itself for any and all sums
<br />due and owing on the promissory note hereinbefore described, to-
<br />gether with interest thereon as therein provided, and thereafter
<br />to pay any balance remaining over and above such sums to the under-
<br />signed, or to such other person or persons as may then be entitled
<br />thereto.
<br />We, the undersigned, further covenant and represent that
<br />there has been paid on account of such contract the sum of
<br />— 16.500.00 _, and that there remains due and owing the amount
<br />of .5b.500.00 and that the balance of the contract pur-
<br />chase prise as is shown j.n such contract and agreement together
<br />with interest thereon as set out in such contract and agreement
<br />is still owing and unpaid. We further represent that we have full
<br />power and authority to execute this assignment; that no assignment
<br />or transfer of any sum of money to become due on account of such
<br />contract has heretofore been made.
<br />We, the undersigned, hereby further specifically authorize
<br />and direct Paine & Huston of Grand Island, Nebraska, escrow agent
<br />under the above contract and agreement, to pay and deliver to
<br />Norwest Bank Nebraska, N.A. to apply on the note heretofore set
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