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<br />'J ' MORTGAGE
<br /> tri MORTGAGE LOAN NO. L 21,936 MGIC
<br />^at KNOW ALL MEN BYTHESEPRESENTS:That Ellen Kay Nichols and Donald W. Nichols, her husband r
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<br /> consideration oftu
<br /> Mortgagor,whether one or more,in the sum of
<br /> VXThirty-one Thousand Five Hundred and No/100 DOLLARS
<br /> loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island,Nebraska,Mortgagee,upon 315 shares of stock of
<br /> h said ASSOCIATION, Certificate No. L 21 ,936 MG ,do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br /> described real estate,situated in Hall County,Nebraska:
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<br /> LOT TWO HUNDRED THIRTY FOUR (234) AND THE SOUTHERLY
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<br /> cgTWENTY NINE FEET (29') OF LOT TWO HUNDRED THIRTY THREE
<br /> (233) IN BELMONT ADDITION TO THE CITY OF GRAND ISLAND,
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<br /> P HALL COUNTY, NEBRASKA
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<br /> together with all the tenements,hereditaments and appurtenances thereunto belonging,including attached floor coverings,all window screens,
<br /> window shades,blinds,storm windows,awnings,heating,air conditioning,and plumbing and water equipment and accessories thereto,pumps,stoves,
<br /> refrigerators,and other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
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<br /> i'' And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessments levied or
<br /> assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become 4..elinquent;to furnish approved
<br /> insurance upon the buildings on said premises situated in the sum of S31 ,500.00 Payabl
<br /> e eto said ASSOCIATION and to deliver to said
<br /> performance of any of the terms and conditions of this mortgage
<br /> the policies for said insurance:and not to commit or permit any waste on or about said premises;
<br /> In case of default in the e or the bond secured hereby,the mortgagee shall,
<br /> on demand,be entitled to immediate possession of the mortgaged premises and the mortgagor hereby ass'gns, transfers and sets over to the
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<br /> ir mortgagee all the rents,revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br /> unpaid:and the mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said premises and renting
<br /> the same and collecting the rents,revenues and income,and it may pay out of said income all expenses of repairing said premises and necessary
<br /> commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom: the balance remaining,if any, to be
<br /> applied toward the discharge of said mortgage indebtedness;these rights of the mortgagee may be exercised at any time during the existence of such
<br /> - - default,irrespective of any temporary waiver of the same.
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<br /> t . These Presents,however,are upon the Condition,That if the said Mortgagor shall repay said loan on or before the maturity of said shares by
<br /> payment;pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal on said loan,on or before
<br /> r the Twentieth day of each and every month,until said loan is fully paid;pay all taxes and assessments levied against said premises and on this Mortgage
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<br /> and the Bond secured thereby,before delinquency:furnish approved insurance upon the buildings thereon in the sum of S 31,500.00 payable
<br /> to said ASSOCIATION;repay to said ASSOCIATION upon demand all money by it paid for such taxes,assessments and insurance with interest at
<br /> the maximum legal rate thereon from date of payment all of which Mortgagor hereby agrees to pay;permit no waste on said premises:keep and comply
<br /> with all the agreements and conditions of the Bond for S 31 ,600.00 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 ASSOCIATION; then these presents shall become null and void,otherwise they
<br /> shall remain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to make any of said
<br />` payments or be three months in arrears in making said monthly payments,or to keep and comply with the agreements and conditions of said Bond;
<br /> and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings.
<br /> If there is any change in ownership of the real esiate mortgaged herein,by sale or otherwise, then the entire remaining indebtedness hereby
<br /> secured shall,at the option of The Equitable Building and Loan Association of Grand Island,Nebraska.become immediately due and payable without
<br /> further notice,and the amount remaining due under said bond,and any other bond for any additional advances made thereunder,shall,from the
<br /> date of exercise of said option,bear interest at the maximum legal rate,and this mortgage may then be foreclosed to satisfy the amount due on said
<br /> s bond,and any other bond for additional advances,together with all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br /> Nebraska for insurance,taxes and assessments,and abstracting extension charges, with interest thereon, from date of payment at the maximum
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<br /> . legal rate.
<br /> As provided in the Bond secured hereby,while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br /> makers of said Bond,their assigns or successors in interest,which sums shall be within the security of this mortgage the same as the funds originally
<br /> 5 secured thereby,the total amount of principal debt not to exceed at any time the original amount of this mortgage. -
<br /> iiated this 9th day of January A.D.,19 76
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<br /> E len Kay i s Donald W. Nichols ;_1�
<br /> STATE OF NEBRASKA, ssOn this 9th day of January 19 76 ,before me,
<br /> COUNTY OF HALL.
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<br /> the undersigned,a Notary Public in and for said County,personally came :Mrg z
<br /> Ellen Kay Nichols and Donald W. Nichols, her husband
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<br /> who are personally known to
<br /> t me to be the identical persons whose nameS affixed to the above instrumerttas mortgagor S and they severally
<br /> acknowledged the said instrument to be their voluntary act and deed. '. '
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<br /> WITNESS my hand and Notarial Seal the date aforesaid.
<br /> _ My Commissio_n expires
<br /> 3732M , .. - c__-' .,C
<br /> Notary Public
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