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<br /> ,_� ��� C!Q 1154
<br /> �f02TCAGE
<br /> A10RTGACL LOAN N0: � 22�532.
<br /> KNOWALLMENBYTHESEPRESENTS:That R@X J.-H. OttO dlld HB�@Il ���. Otto, each 1❑ h1S hcld h@P
<br /> � own right and as spouse of each other, :
<br /> � ' __ Mortgegor,whether one ar moro,in considaatlon of the sum of `
<br /> � Fifty Thousand and No/100=---------------------- -------------------------- DOLLn�s
<br /> � loantd tn said morlgagor by The Gquitable Buildiag and Loan Asmciation of Crand Island,Nehraska;Mod@agee,upon 500 sharcs oC stock of
<br /> ; i said ASSOCIATION,Certificate Na L '22�532 ,do hercby granr,wnvey and mortgage unto the snid ASSOCIATION the following
<br /> iteuribed real estatr,situnted in Halt County,Nebraska:
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<br /> L�T ONE (t1RAINBOW LAKE SUBDIVISIO�d
<br /> HALL COUNTY, P�EBRASKA.
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<br /> together with all the [enements,hereditaments and appurunances thercunco belon�ing,inciuding attached Qoor co�2rings,aU t��indow screens,
<br /> ' window shades,blinds,storm w•indox�s,awnings,heating,air cunditioning,and plumbing and waterequipment snd accessories[hettto,pumps,stoves,
<br /> "' atri¢erators,and other fixtures and equipmenc now or hereaCter attached[o or used in cunncctiun with said real es�ate.
<br /> � And wliemas[he said mortgagoc has agceed and does hert6y agree thnt tlie mortgagor shall and will pay all taxes and assesunentslevied or
<br /> � ass�ssed upon said premises and upon Aiis mortg�ge and the bond securcd thercby before the same slup become delinyurnt;co fumish approved
<br /> inswanca upon tha 6uildings un said premixs simated in tlie sum of S50���0.UO payabte tu said ASSOCIA'T10N and to deliver to s�id
<br /> ASSOCIATION die policie:for said insurance;and not to mmmit or permit ury wnste on ur about said premius;
<br /> f In case o(defaul[in the pertormunce of any of ihe terms and conditions of d�is moregage or the bond secured hereby,the mongaeee shall,
<br /> 7`i on dnmand,be entiqcd to immediate posseuion of the mo�tgaged premiscs and the mortgagor hereby assigns, transFers and sets oeer to the
<br /> 1.` mortgagee all the rents,revenues and income m be derived(rom the murtgaged prcmises durin$such time as the mongage indabtedneu shall remain
<br /> unpaid;and thc mortgagee shall have thc powcr to appoint any agent or agen[s it msy dcsire for the purpou of repairing said premixs and rcnting
<br /> ; the same snd coliecting the rents,revenues and incomc,and it may pay ou[of saiJ inmme ail expenses ot repairing said prcmixs and necessan�.
<br /> commissions and tzpenses incurred in renting and mann�ine the same and of collecting rentals themfrem;the b�lwice remsining,iC xny,to be
<br /> appGed mu•ard Uu discha�go of said mongage indebtedness;theu rights o(the morigagee may be exercised at any time during the e�cistence of such
<br /> , dafuult,irrcspecti�t of any temporary wai�Yr of the same. '
<br /> � 7hese Presents,hox�evnr,arc upon the Condition,That i(the said 1lortgagor 9ial!repay said loan on ur before[he maturity of saiJ shares by � . �
<br /> 1 payment;pay montlily to said ASSOCIATION of tlie sum specified in[he 13ond secured haeby as incerut and principal un said loan,on ur betore
<br /> �hc Twcntieth day of cach and tvery month,until uid fuan is(ully paid;pay al(taxcs and assessments le�•ied againsc s�id premius and on this�iorigage . � . . � .
<br /> � and the Dund secured Ihereby,before delinquency;furnisl�approved insurancn upun the buildines thereon in the sum uC S 5O��0�.�� payable � �
<br /> `- i to said ASSOCIATION:�epay m s�id ASSOCI.�TIOV upon demanJ all money by it paid for sudi taxes,asxssmcncs and insurance��•iih intemse at
<br /> the maximum Irg�l�atc[hereon fmm date o(payment alt of which�fort¢a¢or hereby agreu to pay;perrtdt no w•aste on said pramixs;keep anJ romply
<br /> £ � with all the agreements and conditions of the Bond for 5 5O OOO.00 �1us day gi�•en 6y thr said htortgagor to said ASSOCIAT►ON,and comply
<br /> with all Ihc rcquiremonts of the Constitution and�yLaws of'said ASSOC[ATION;than these preunts shal!6ecome null�nd void,otherwiu they
<br /> �;< " slull remain in(ull force and may be forecluud at the optiun of the said ASSOCIATION afmr failure for thme months to make sny af said
<br /> j payments or be three months in a�rcarz in making said monthly pa}'ments,or to keep and cumply with the agreements snd conditions of said Bond;
<br /> and;�tortgagor a�uets to have a�tceiver nppointed Corthwith in such Coreclosum pmceedings. . . �
<br /> "- I If thcre is any change in ownership of the rcai estate mortgaged huein,6y sale or othern�isc,then the en[ire remxining indehtalness hare6y
<br /> secured:hall,at the updon o(Tha Equita6le Building and Loan Association of Crand Island,Ne6nska,become immniiately due and payable without
<br /> further notice,and the nmount remaining due under said bond,and any uther bond for any additionul advantts made thereunder,shsll,from[he
<br /> date of exercise ai said option,bear interest�t the miximum Icgal rate,and dus mortgsge may then be forectosed to satisfy the amuunt due on said
<br /> bond,and any other bond(or additionel advanas,together with all sums paid by aaid The Equitable Building md Loan Aswciatian of Grand Island,
<br /> - .i Nebras}:a for insurance,taxes and assessments,and abstracting exrenvon chargrs,with inurest thereon,ftom date of payment at ihe ma.rimum
<br /> Icgal rata
<br /> ,':,� As pro�idcd in the Bond secured hcrcby,while this mongage remains in e(fact the mortgagte may hereafter advsnce additional aums to the
<br /> makers u!said Bond,theu assigns or succeswrs in interut,which sums shall be within the security of this mortgage[he same as the funds originatly
<br /> ` ucuted thereby,the rotal amount of principal debt t to,exceed at any time the original amount of this mongaga
<br /> '; Dated this l,�� da of +�L � A.D.,l9 7 .
<br /> . -� G' � % .� G� �� 'L� ,�/ �!,�'.. �� i: ��/ �
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<br /> Rex J. . Otto � Helen—M. Otto
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<br /> STATEOFNEBRASKA,( lOth February �77 ,
<br /> COUNTY OP EIALL j ss. On this day of I ,be(ore me,
<br /> thc u d ne N b o i nt t} "'`�
<br /> Rex J. H. Otto and Nelen M. Otto, each in his and'fi`�`� �W� ��`�t��ri`8"�s�`s'���s°� a'�"��'��5'�PFer,
<br /> � ' who a re perwnally known to _ �� �
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<br /> � me to 6e the�i�ticalpsuon5.__.-_.t�hn:e:.ame s a re af(ixed to the abo��e instrumcnt as mortgagor S and they severally
<br /> a o�dgl�tlie'stt�{tlstnirrtent to be'thel r voluntary act and deed. t�+
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<br /> r�I�y���S�S tc�,�r]�an�.:auji Notarinl5eal the datc aforesvd. � ..�
<br /> Notary Puhlic
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