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<br /> 1:AOW ALL AfEN BY THFSG PRPSBNTS:That 88271grd L.:McGahan and Carol A. PScGahan, each in his
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<br /> and her own right arrl as spouse of each other
<br /> '' Afortgagor,whether one or more,in consideration of[he sum of-
<br /> ` Forty�sixThousandandNo/100 - - - - - - - - - - - - - - - - - - - - - - - -
<br /> DOLLARS
<br /> loaned to said mortgagor by The Equitable Building and Luan Association of Grand lsland,Ne6raska,hlortgagee,upon Q(O shares of stock of
<br /> � said ASSOClA770N,Certifiwce No:L 22�5�2 ,du hereby grant,mnvey end mongage unto the said ASSOCIATION the toliou�ing
<br /> described ttal estate,:i[uated in Ilall County,Nebraska:
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<br /> I.OT TFIIiEE (3), IN BLOCK FIGHTEEN (18)
<br /> II1 SCHIr4+1ER�S ADDITIOt7 TO THE CITY OF GRAND ISLAND, IdEBRA5FA
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<br /> - tugether with all the tentments,LeceJitaments and appurtenances thereunto 6elonging,induding attached iloor coverines,all windoa•ureens,� '
<br /> window shades,blinds,storm windows,awnings,he�ting,air conditioning,and plumbing and water equipment and accessories thereto,pumps,sto�res,
<br /> reGigeraturs,end other Pixtures and equipment now or hereaftu attached to or used in connection wi�h said real esta[e. � �� �
<br /> j . And whereas.the said murtgagor has ag�eed and does hereby agree that the morteagor shall and will pay all taxes and assesunents Ier'ed oc �
<br /> ' � assesud upun said premises and upon tl�is mortgage and the bond secured there v efore Ate same st�all become delinquent;to furnish app�oved
<br /> �' insurance upon the buildings on said prendses situated in the sum of S 4b,�•� payabie to said ASSOGA'fION and to deliver ro said
<br /> ` �; ASSOCIATION the policies for said insurance;and not tu commit or permit any waste on or about said premises. . �. .
<br /> !n case uf deiault in the pedormance of any oC the cerms and cunditions oC tl�s morteage ur the bond secured hereby,the mortgagee shall,
<br /> un demand,be entitled tu immediate possession uf the mortgaged pmmises and the mongagor here6y assigns, transfers and sets ovtt to the
<br /> mungagee all the rents,rerenues and income to be derived!wm the mortg�ged premises durinR such time as the mortgagt indebtedneu shall remain
<br /> unpsid;and the morlgatee shall have the power to appoint any agent or agents it may desire!or the purpose of tepa'uing said pmmises and renting . . � �
<br /> � the same and collecting the rents,revenues and income,and it may pay ou[of said income xll expenses oi repairing said premises and necessary
<br /> ' commiaion:and expenses inwrred in renting and managing the same and uf collrciing ren[als lhereCrom;the balance remaining,if any,to 6e .
<br /> g;- applied ioward the discliargc of s�id mortgage indebtcdneu:d�cse rights of the mor[gagee may be exetciud at any time during the ezistence of such
<br /> default,iuespective of any temporan•w�aicer of the same. � . � � �
<br /> _ These P�esents,Itou�eeer,are upon the Condition,Th�t if�he said�tortgagur shaU repay said loan on or betom d�e maturity of said�t�aces by � � � . ��
<br /> pnymenl;p�y mon[hly to s:�id ASSOCIATION of d�e sum specified in the Bond szcured herebv as incerest and principal on said loan,un or before � .
<br /> �he Twentieth day of cach and e��ery month.until said loan is fully paid;pa��:�11 taxes and assessments leried against said premixs and on this Afortgage
<br /> and the F3ond securcd thereby,be(ore delinquency:(umith approved insurance upon the buildines thereon in the sum of S �1.6��.� payable .
<br /> to uid ASSOCIA'IIO\;rcp3y to said ASSOCIATION upon demand all money by it p�id for such taxes,assessments and insurance w�ith interest at � � � �
<br /> the maximum Ir¢al rate thereon(rum datc of paymant all of which Mortgagor hereby agrees m pry;pormit no waste un said premises;keep and wmply � .
<br /> with a11 tht agrcements znd wnditions of Ihe Bond for S�,6t��O,� tt»s day gicen by the s�id Stortgagor m said ASSOCIAT[ON,and comply � � � �� � .
<br /> with all�he requirements o(the Constitution and[iyLaws ot said ASSOCIATlO.'�':then these presents shall become null xnd void,otherwise they � � � � �
<br /> stull remain in(ulf force and m�}'be foreclosed at the option uC the said ASSOCIATION attee (ailu¢ for three months to make any of said � � � - �
<br /> payments or be three months in arrears in makine said munthly payments,or tu keep and comply with the agrcemenes and conditions oF said Dond;
<br /> and Afongagor�agrees to luve a receieer appointed fonhwith in such fureclosure pmceedings. � �
<br /> If there is�ny change in owncrship of the re�l estate mortgaged herein,by sale or uthenvise,then the entire remaining indebtedness heee6y � � . �
<br /> secuced sliall,at the optiun of Tl�e Equitable Building xnd Loan Association of Crand lsfanJ,lebraska,become immediately due and payable w�ithout . �
<br /> furHier notice,and the amoum remaining due under said bond,and any odier bond for any additional adeances made thereunder,shall,from the
<br /> dam o(exerciu of said option,bcar in�erest et the rtwximum legal�ate,and this murtgage may then be forecloud to satisfy the amount due on said
<br /> � bond,and any other bond for additional advances,together with all sums p3id by said The Equitable B�ilding and Loan Association o(Grand(sland.
<br /> � \ebra:ka Por insurance,taxes and assessments,and abstracting extenyon charges,with intereet thereon,irom date u�p�yment a[tht mvcimum � � �
<br /> legal ratc.
<br /> As provided in�he Bond securcd hereby,while this mortgage iemains in effec� the morigagce may hercafter advance additional sums to the �
<br /> makers o(said Uond,their asvgns or successors in interest,v:hicli sums shall be whhin the security ot this mortgage the samr as the funds ori�inally
<br /> ucuied theceby,the total amo f principal eb ot to exceed at any time the original amount of this mortga@a . �
<br /> a in�5 215 � January �.�.19 77
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<br /> � L McGahan
<br /> (� .r_ ri 7r�`_'- .���-�....�
<br /> � Garol A. IdcGahan
<br /> sraTE or rEaRas�,�
<br /> COIJNTYOFIiALL �� Onthis 21St dayof January I�� ,6etoreme, ,�
<br /> r the underai¢ned,a Notary Pub6c in and for said County,personatly came . ,� N�,V'���.�
<br /> Herr�rd L. iicGahan and ..aro1 A. 24cCrahan, each in his and her o�n ri,�ht and as
<br /> spouse oY each Ot}12P µ o personally known to � �
<br /> L me to be the identica!person 8 whose name S affixed to the above instr n as i r[gagor 9 JDII they secerally .,� „
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<br /> acknowledged the said instrument to be t}2e1P ��olun[ary act and deed. / ,�� � �� �
<br /> N'ITNL55 my hand and Notarial5eal the date aforesaid. � � ��� t(i
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