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86-- 103360
<br />SECOND REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That we, JOHN C. MEIDLINGER and JANE C. MEIDLINGER Of HALL
<br />County, Nebraska, for an in consideration o $20,000.00 in
<br />hand paid, the receipt of which is hereby acknowledgedd do ere y
<br />bargain, sell and convey to Stanley S. Sedlacek and Nancy J. Sedlacek, as
<br />1 o 1"'t tenants with right of survivorshi ,of Custer County, Nebraska,
<br />the real estate hereinafter described and situated in Hall
<br />County, Nebraska, to -wit:
<br />Fractional Fractional
<br />Lot Five (5), Block Seven (7), Arnold Place, in the
<br />City of Grand Island, Hall County, Nebraska.
<br />together with all further right, title and interest of the Mortgagors
<br />in said property now owned or hereafter acquired, and including
<br />all buildings and improvements now on, or hereafter placed upon,
<br />said real property.
<br />This Mortage is given to secure:
<br />a) A Promissory Noted dated the 7th day of JUNE 1986,
<br />given by JOHN C. MEIDLINGER and JANE C. 1EIDLINGER t0
<br />Stanley S. Se ace and Nancy J. Sedlacek, husband and
<br />wife, in the principal sum of $20,000.00 ,
<br />payable with interest according to the terms o said Note
<br />and any instruments taken in refinancings, extending,
<br />or renewing said indebtedness or any part thereof;
<br />This Mortgage to be void upon the payment in full with interest
<br />of all obligations, present or future, secured or to be secured
<br />hereby.
<br />The Mortgagors, and each of them, hereby warrant that they are
<br />fee owners of the mortgaged real property; that they will defend the
<br />title against all claimants whomsoever, and that said property is
<br />subject only to the following prior liens.
<br />Real Estate Mortgage to EQUITABLE BUILDING :. LLOAN ASSOCIATI070 0- GR:iND IS1_ZLND
<br />dated the 14th day of august I 19-,F;, an recorded on the
<br />14th a3- —yo f August 19 75, in Book 17x0 , Page
<br />337 0 the Mortgage Records in Hal ounty,
<br />Nebraska;
<br />and that they further relinquish all rights of homestead and dower
<br />in said premises, and covenant and agree with the Mortgagees as
<br />follows:
<br />1) To pay when due all taxes, liens, judgments, or assessments
<br />which may be lawfully assessed against the property herein mortgaged,
<br />and the rental charges upon any leases assigned as additional
<br />security for this mortgage.
<br />2) To insure and keep insured buildings and oth,2r improvements
<br />now on or which may hereafter be placed on said premises for
<br />their full replacement value. Any policy evidencing such insurance
<br />shall be endorsed with a mortgage clause, approved by and in favor
<br />of Mortgagees, and deposited with, loss thereunder to be payable
<br />to, Mortgagees as its interest may appear. The Mortgagors shall
<br />not cancel or modify said insurance without prior written notice
<br />to the Mortgagees. At the option of the Mortgagors, sums so
<br />received by Mortgagees may be used to pay for reconstruction of ti
<br />the destroyed improvements; or, if not so applied, may, at the as
<br />option of the Mortgagees, be applied in paymer•.t of any indebtedness,
<br />matured or unmatured secured by this mortgage.
<br />I
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