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<br /> MORTCACL'
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<br /> �fORTGAGIi LOAN N0. L � —
<br /> ' F:NO�VAI,LMENBYTHIiSGPRBSENTS:That G81^d.�(I H. Shultz and Mary �ane $hU�tZ 2nC� �n his and .
<br /> � her own right and as spouse of each other
<br /> i Mortgagor,whether one or more,in wnsideraNun ef the sum of
<br /> , _Five Thousand and No/100--------------------------------------------------�-------
<br /> � D�LLARS
<br /> ; loaned to said mortgagor by The Gquiteble Duilding and Lonn Associat(un of Grand Island,Net�rxska,Mortgagee,upon 5O shares of stock of
<br /> � � said ASSOC1AT10N,Certificate Na.L ZZ�54� ,do liereby grant,convey and me:.gage unto the sa(d ASSOCIATION the following
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<br /> described:real estate,situated in Hal!County,Nzbraska:
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<br /> � LOT THIRTY-THREE (33) IN SASS SECOND SUBDIVTSIUN
<br /> ;-,j
<br /> �j LOCATED IN SECTION FQUR7EEN (14�, TON'NSNTP ELEVEN
<br /> � � (11) NORTH, RANGE NINE (9) WE3T OF THE 6TH P.M., IN
<br /> ' HALL COUNTY, NEBRASKA, ACCORDING TO ThE RECORDED PLAT
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<br /> '' THEREOP.
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<br /> � Subject to a prior mortgage to the mortgag��e herein in
<br /> , the principal amount of $22,000.00, dated August 4, 1975/
<br /> `-:`;
<br /> { togetl�zr with all the tenements,hereditamenls and appurtenuncas Ihereun�o 6elonging,including xttaclied Ilour co�erings,all window scrcenx,
<br /> =' window shades,blinds,starm windows,ax�ning:,heating,air conditioning,and plumbing and walerequipmeri and accessudes themto,�umps,stuver,
<br /> � refrigerators,and other fixtures and eyuipment now ur he�eafter auached to or used in cunnection tvith said reu!estate.
<br /> And whereas Ihe said mortgagur has agreed and does hereby agrce d�at the mortgsgor sholl and will�ay atl taxes�nd assenmrnts Itvied or
<br /> asseued upon s:wid prcmises and upon this mortgage and the 6ond secuced thereby beCore che same shall become delinqusnt;so fusnish appmved
<br /> ' •����ncr uam d,e hu�Idines on sxid nremises situated in the sum oC 55,0�0.�0 puyable tu said ASSOCIATION and to deliver to said
<br /> iASSOCIATION the puliciei for wid insurance;and not to commit or permii any wasie on or abuut sail pitmiscs;
<br /> ? In cau oC default in the perfbrmance oC any o(the terms and cunditions of this mor�gage or the bond ucurec�hereby,the murtgagee shall,
<br /> P� on demand,6e entitkd to immcJiatc pusussion of ihe morlgaged premises and the mortgagor hereby assigns, transfers�nd sets u�rr ta the
<br /> t mor[gagee all the rents,revenues and income to be derived from the mortgaged premises du�ing such time as the mortgage inde6tednes:ilmll remain
<br /> �','� unpaid;and the mortgagee shall have the power to appoint any agent or agents it may desire for the purpose o(repauin6 said premisas and rrnting
<br /> � the same and collecting thc rents,revenues and income,and it may pay out o!said incume sll expenses of repairing said premises and neces.mq�
<br /> _ � cummiuions und expenses incurred in renting and managing the same and of wllecting centals thereGom;the balance remeining,if any,ro be
<br /> apptied toward the discharge oC said mor[gage indebtedness;these rights of the mortgagee may be exercised at a�iy time during the exisrence uf such
<br /> defautt,irrcspective of�ny temporary waiver oC the same.
<br /> Theu Presents,however,are upon the Condition,That if the said Aiortgagor shall repay said loan on or 6efure the maturi;y of said shares by �
<br /> ,.� payment;�pay monthly to said ASSOClATION of Ihe sum specified in Ihe Bond secured hereby as inurest and principal on said loan,on or be(om �. . � . � � �
<br /> ! ihe Tweniiethday oi cach and cvery month,unti!said loan is fully paid;pay all taxes and assessments le��ed against said premiscs and un this A9o::gege `.
<br /> ;�* and the Bond sewred thcreby,before dclinquency;furnish approved insurance upon the building;checeon in the sum of S 5�000.�� P�5'ablc
<br /> �o said ASSOCIATION;repay to said ASSOCIATIO�upon demand all money by it paid for such taxes,assessments aud insu;ance with intorat at
<br /> _ f the m:ucimum Iegal rate thereon from date uf payment all of which�tortgagor hereby agrees to pay;permit no wasto un said premises;keep and comply
<br /> :� with all the agrcemen[s and conditions oi'the Bond for 5 5��00.OO this day given 6y lhc said�lortgagor to s�id pSSOC1AT10N,and wmply
<br /> �vith ail the requirements u(the Constiwtion and ByLaws of s�id ASSOCIATIOtJ;then dmse presents shall become nul!and void,o.henvise they
<br /> thail rem�in in full force and mny be forecbsed at the uption of the said ASSOCIATION after Cailurc for threc months to make any uf said
<br /> {' payments or be three mondis in�rrears in making said monthly pa}•ments,oc to keep and cumply with the agreements and wnditions oCsvid Bond;
<br /> and htortgagor agcees to have a recciver appointed forthwith in such foreclosure proceedings. ...
<br /> % I(there is any change in ownership of the real cstate mortgagcd herein,by salc or othenvise,[hen the entirc remaining indebtedneu horeby
<br /> .:.i secured shall,at the option of The Gquitable Building and Loan Association of Crxnd 1sland,Nebraska,become immediately due and payable H�ithout
<br /> (urther notice,and the amoun[remaining due under said bond,and any othcr bond(or any additiunal adranccs made thereunder,:hall,from the
<br /> dnte of exereise of said option,bear interes[at the maximum legal rate,and this mortgagc may then bc toreclosed to satisfy the amuunt due on said
<br /> bond,and any other 6ond for additional advanus,mgether with all sums paid by said The Bquitnbie Building and Loan Association of Grand Island.
<br /> Nebraska for insurance,taxea and assessments,and a6stracting extension ct�arges,wiQi interest thereon,from date of payment at the maximum
<br /> � Icgal rata . . ..
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<br /> As provided in the Bond srcured hereby,whilc tliis mortgagc remains in effect tlic mortgngee may hereaftcr ad�ance additional sums to the
<br /> makers of aid pond,thcir assigns or succeuors in interest,which sums:hall be within the security of this mortgage the same as the funds originally
<br /> secured thereby,the tota�amount of principal debt not to exceed at any time the original amount of th^mortgage.
<br /> � ' �a��a��g h a:�y or February n.o.,iv77
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<br /> ' era , H. Sh tz �
<br /> � Mary Jan S ltz �— i
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<br /> � STATE OF NEDRASKA, 16th da of
<br /> '• COUN1'Y OF HALL}�� On thls v February 19 J� ,betore mc, '
<br /> ; �. � � the undersigncd,a Notary Public in and for said County,parsenally cnme -�'�'4 ��s.
<br /> Gerald N. Shultz and Mary Jane Shultz each in his and her own rightW��d as spo�se�aAykno{into N
<br /> I other are I � .
<br /> m ��e' ,c" eraon9 whou n�me5 dY'B afPixed to the above inst:umcnt as mortgcgor5 �„a they sevoratly ,
<br /> ]t�3eed.tyf 3N `'�
<br /> �F trument4o be thei r voluntary nct and dced. �.
<br /> �~:�'�K r'�h�'�T my hand and Notarial Scal the date aforesaid. . �,�.Q �
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