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<br /> 77� UO3"727 �
<br /> MORTGAGE
<br /> MORTGAGELOAN NO_ � 22,650 MGIC
<br /> KNOWALL&IENBYTHESEPRESENTS:That M1CIld2� /�. Galles and Barbara F. Galies, each 1t1 h75 dlld (
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<br /> , her own right and as spouse of e�ch other,
<br /> � Mortgagor,whether one or more,in consideration of the sum of
<br /> ' 3 ; Fourteen Thousand Eight Hundred and No/100----------------------------------------�LLA�s
<br /> loaned ro said mortgagor hy'The Equitable 8uilding and Luan Association of Grand Island,Nebraska,Martgagee,upon shares of stock of
<br /> �` said ASSOCIATION,Certificate ,lo. L22,650 MGIC,do hereby grant, wmey and mortgage unto the said ASSOCIATfON the following
<br /> described real estate,situated in Hxll County,Nebreska:
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<br /> LOT NINE (9), IN BLOCK SIX (6), IN BOGGS
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<br /> AfVD HILL'S ADDITION TO THE CITY OF GRAND
<br /> ISLAND, NEBRASKA.
<br /> ' � � � toge[her�with all the �tenements,heredi[aments and appurtenances thereunto belonging, including attached lioor coverings,all window screens,
<br /> : )� � �� . window shades,�blinds,s[orm windows,awnings,heating,air cunditioning,and pluinbing and water equipment and accessories thereto,pumps,stoves,�
<br /> ' � � refrigerators,and o[her fixtures and equipment now or hereafter attached to or used in connection with said real estate_ .
<br /> � � And whereas the said mor[gagor has agreed and does hereby agree tha[ the mortgagor shall and will pay all taxeS and assessments levied or .�
<br /> assessed�upon said premises xnd upon ihis mortgage and the bond secured [hereby before the same shall become delinquent;to furnish approved
<br /> 5 insurance upon the buildings on said premises situated in the swn of$ �L�. 800.OO Paya6le to said ASSOCIATION and to deliver to said
<br /> ASSOCIATION the policies for said insurance;and not to commit or permit any waste on or about said premises;
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<br /> x ���� � � In case of default in the performance of any of the lerms and conditions of this mortgage or the bond secured hereby,the mortgagee shall,
<br /> , # on�demxnd,be entided to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets�uver to tl�e
<br /> mortgagee all the rents,revenues and income to be derived from the mortgaged premises during such cime es the inortgage indebtedness shali remain
<br /> ; � nnpaid;and the mmtgagee shall have the power to appoint any agent or agents it may desire for the purposa of repairing said premises and renting. �
<br /> � � � � the same.and collecting[he rents,revenuas and income,and it may pay out of saiJ income all expenses uf repairing said premises and necessary �' .
<br /> � commissions and expenses incurred in renting and managing ehe same and of collecting rentals cherefrom; the balance remaining,if any,to be
<br /> ' � �� .� applied�toward the discharge of said mortgage indebtedness;.[hese riglits of the mortgagee may be exercised at any tiine during the existence of such� .
<br /> � default,�irrespective of any temporary waiver of the same,
<br /> #; . � � � These Presents,however,�are upon the Condition,That if[he said Mort.gagor shall repay said lqan on or before the matuiity of said shares by .�
<br /> ^ �payment;pay month]y ro said ASSOCiAT10N of the sum specif3ed in[he Bond secured hereby as interest and principal on said loan,on or before �
<br /> ; j`.� � the.Twentietfi day of each and every�month,witil said loan is fully paid;pay all taxes and assessments levied against said premises and on this Mortgage �
<br /> :� . � and.the Bond secured thereby,before delinquency;furnish approved insurance upon the buildings thereon in the sum of 5 �4,$�Q�.QQ payable
<br /> ' � �� to�said�ASSOClATION;.repay to said ASSOCIATtON upon demand all money by it paid fur such taxes,assessments and insurance with interestat �
<br /> . . the�maximum legal rate thereon from date of payment all of which 61ortgagor hereby agrees to pay;permit ao was[e on said premises;keep xnd comply �
<br /> ' ? with alI the agreements and conditions of the Bond for S �Q�$p�.�Q this day given by the said Mortgagor to said ASSOCIATION,and comply
<br /> , � with all the requirements of the Constitution and By-Laws of said ASSOC[ATION;then these presents shall become null and void,otherwise they
<br /> � sha11 remain in full force �nd mxy be foreclosed a[ the optiun of the said ASSOCIATION af[er tailure for three�montlts to make any of said �
<br /> ti, payments ur be three months in arrears in making said cnonthly payments,or to keep and comply with the agreemencs and conditions of said Bond;
<br /> � and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proc:eedings_ . . � .
<br /> . If there is any change in ownersliip of the rea!estate mortgaged herein,by�sale or otherwise, 2hen the entire remaining indebtedness hereby �.
<br /> . sewred shall,.at tfie option of The Equitabte Building and Loan Association of Grand Island,Nebraska,become intmediately due andpayable withwt � �
<br /> . further no[ice,and the amount remaining due under said bond,and any other bond.for any additional adwances made thereunder,shall,from the - �
<br /> � date of exercise of said option,bear interest at the maximum tegal rate,and this mortgage may then be foreclosed to satisfy the amount due on said � � . � . ��
<br /> bond,and any other bond for additionai advances,toge[her with all sums paid by said The Equitable Building and Loan Association of Grand Island, �� � � .
<br /> Nebraska for insurance,[axes and assessments,and abstracting extension chazges, with interest thereon, from date of payment at the maximum
<br /> 3ega1 rate.
<br /> " � � As provided.in the Bond secured hereby,while lhis inortgaga remuns in effect the mortgagee may hereaFter advance additional sums to the
<br /> � �� �. .makers of said Bo.nd,their essigns or successors in interest,which sums shall be witltin the security of tltis mortgage the same as the funds originally.� . ��
<br /> � secured [hereby,the,total amount of principal debt not to exceed at any time the original amount of this murtgage. � . � � �
<br /> ndcea cn�s 16th aay or May n.�.,i�77
<br /> ma� � QQ�� , �O�.ti j'�� , ,�� h r.�������-. ��'�; i �' � ,;��
<br /> Michae7 A. Gal7es Barbara—�` Ga1Tes
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<br /> STACOLJNTY OF IT���. On this 16th day of Md.y 1977 .before me, . � '
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<br /> .. �� ' � � �� the undersigned,a Notary Public in and for.said County,personally came � . � ;'y �
<br /> ` Michael A. 6aUes and Barbara F. Galles, each in his and her own right and as spouse of � w;�
<br /> ' each 0'theP� who dre personallyknownto � �r ,
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<br /> me to be the identical person 5 whose name5 dre affixed to tho above�um t as mortgagors and they �``erallY :�
<br /> acknowledged the suid insuument to be thel p volw:vey act and deed. �j
<br /> ' � WITNESS my hand and Notarial Seal the date aforesaid: � � � �� � .--="'� �"> �
<br /> � �� ,«•.4 A93'Gomuiuszon€xp�res `'' " � f �
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<br /> y.y����,tdy Gom n.ix,�.,: , 1?,�_y"-�'S_r 9 j J�, �. . . . . . �,� . Notary Public � . � .
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