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<br />REAL ESTATE MORTGAGE
<br />CONSTRUCTION SECURITY;'AGREEPENT6 103991
<br />EUGENE ARMSTRONG AND BESS R. ARMSTRONG, husband and wife
<br />of the County -af HALL and State, nr NEBRASKA t,
<br />ezeinafter; called the patty, of the first pack .in
<br />TI►ENTY ONE THOUSAND FIVE HUNDRED AND NO/100 ------------------------- - ='
<br />desafioa "f _DOLLARS..
<br />fs ,Ynnd paid, ;do hereby grant, bargain, sell and coam unto the Home Federal Savings dr Loan Association of Grand lshtnd
<br />Grattd "IaLnd,•Nebesslta and its saecessas and aasigns; the following real estate, situated in HALL
<br />Co®ty,3tatent NEBRASKA towit
<br />LOT ,ONE ;HUNDRED FORTY FIVE (145), IN BUENAVISTA SUBDIVISION, AN ADDITION TO THE CITY a
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Together with all the appurtenances thereunto belonging, and all covenants in all the title deeds running with said real estate,
<br />and all the rents, issues and profits arising therefrom after default in performance of any covenant or condition herein con-
<br />tained; and4a time thiatt e thereto perfect and clear except for this mortgage-
<br />During
<br />age is in force the mortgagors agree:
<br />First. To pay all taxes and special assessments levied against said premises, including all taxes and assessments levied
<br />upon this mortgage, or the debt secured by this mortgage.
<br />Second. To keep all buildings thereon insured against loss by fire, lightning and tornado in some company, to be ap-
<br />insurable value
<br />proved by the said dome Federal Savings & Loan Association of Grand Island in the sum of $ for
<br />the benefit of the said Association, and its successors or assigns; and to deposit said policies with said Association, and shall not
<br />commit or suffer any waste on said premises, and .shall put and keep said real estate buildings and improvements in good
<br />order. -�
<br />Third. To pay or cause to be paid to the Home Federal Savings & Loan Association of Grand Island, its successors or
<br />assign, the sum of ; TWENTY ONE THOUSAND FIVE HUNDRED AND Nn /inn--------------- - - - - -- DOLLARS,
<br />payable as follows:
<br />_ r<
<br />$21,500.00 DUE JANUARY 16, 1967
<br />y
<br />�e 6:3
<br />with interest thereon payable, according to the tenor and effect of the one certain first mortga L said mortgagors,
<br />_ bearing even date with these presents. After maturity said bond draws interest at the race ocent per annum.
<br />If said taxes and assessments are not paid when due, or if the buildings on said premises are not insured as above pro-
<br />vided, or if any of said interest is not paid when due, then said whole debt shall become due immediately, at the option of the t3
<br />said Association, and shall thereafter draw interest at the rate 6Tj QSi%? cent per annum.
<br />The mortgagors__ hereby assign— to said mortgagee all rents and income arising at any and all times from said
<br />property and hereby authorize said mortgagee or its agent, at its option, upon default, to take charge of said property and
<br />collect all rents and income therefrom and apply the same to the payment of interest, principal, insurance premiums, taxes,
<br />assessments, repairs or improvements necessary to keep said property in tenantable condition, or to other charges or pay-
<br />ments provided for herein or in the note hereby secured. This rent assignment shall continue in force until the unpaid bal-
<br />ance of said note is fully paid. The taking of possession hereunder shall in no manner prevent or retard said mortgagee in
<br />the collection of said sums by foreclosure or otherwise.
<br />Whether said debt becomes due by lapse of time, or by reason of the failure of the party of the first part to comply
<br />with any condition herein, the said Home Federal Savings & Loan Association of Grand Island, the successors and assigns,
<br />shall have the right to begin the foreclosure of this mortgage at once on the whole debt hereby secured, and to include
<br />therein all taxes, assessments, insurance premiums and costs, paid by it or them; or said Association. its successors or
<br />assigns,_may foreclose only as to the sum peat due, without injury to this mortgage, or the displacement or Impairment ,
<br />of the lien thereof.
<br />And the said first party and the makers of said note, especially agree and declare that the separate estate of each and
<br />every one of them, including both that now owned and that hereafter acquired, is pledged and bound for the payment of
<br />the debt hereby secured.
<br />After the commencement of any suit in foreclosure the plaintiff therein shall be entitled to the immediate possession of
<br />said premises and the appointment of a receiver therefor, notwithstanding they may be the homestead of the occupant and
<br />notwithstanding the parties liable for the debt may be. solvent, and the first party hereby consents to the appointment of a
<br />Receiver upon the production of this indenture, without other evidence.
<br />wise
<br />L. The foregoing conditions awl agreements, all and singular, being fully performed, this conveyance shall be void, other.
<br />to be and remain in full force and effect.
<br />Signed day —A. I)., 1J `
<br />Io, pr'laeat4 of
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