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<br /> 7&- 000254
<br /> MORTGAGE
<br /> 21 ,943 MGIC
<br />�, MORTGAGE LOAN NO.
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<br /> Gt KNOW ALL MEN BY THESE PRESENTS:That Larry D. Schulze and Jean L. Schulze, each in his and
<br /> her own right and as spouse of each other, Mortgagor,whether one or more,in consideration of the sum of
<br /> Twenty-seven Thousand Seven Hundred and No/100 DOLLARS
<br /> 1.;...., ;',,.,. :,..-,:..,
<br /> loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island.Nebraska,Mortgagee,upon gag , po 277 7 shares of stock of
<br /> said ASSOCIATION, Certificate No.L 21 ,943 MGILlo hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br /> x described real estate,situated in Hall County.Nebraska:
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<br /> ' LOT SEVENTEEN (17) IN BUHRMAN SUBDIVISION
<br /> AN ADDITION TO THE CITY OF GRAND ISLAND, HALL
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<br /> 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 watt: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.
<br /> 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 delinquent;to furnish approved •
<br /> insurance upon the buildings on said premises situated in the sum of S 27,700.00 payable 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;
<br /> In case of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby,the mortgagee shall,
<br /> on demand.be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br /> mortgagee all the rents,revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br /> 'apaid;.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 /> it 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.
<br /> 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 /> 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
<br /> and the Bond secured thereby,before delinquency:furnish approved insurance upon the buildings thereon in the sum of S 27,700.00 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 5 27,700.00 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 raking 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 estate mortgaged herein.by sale or otherwise,then the entire remaining indebtedness hereby - -
<br />...-.,:s,..•:.• sPc,rred shall,at the option of The Equitable Building and Loan Association of Grand Island,Nebraska,become immediately due and payable without v
<br /> further notice,and the amount remaining due under said bond,and any other bond for any additional advances made thereu-:de",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 /> 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
<br /> legal rate.
<br /> c • 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 /> secured thereby,the total amount of principal debt not to exceed at any time the original amount of this mortgage. •
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<br /> ' Iatedthis 161; e- dpi of ,; January .A.D..1976
<br /> a ry D� chu ze -r Jean c u ze"
<br /> x STATE OF NEBRASKA.
<br /> COUNTY OF HALL ss On this 16th day of January 1976 .before me,
<br /> the undersie:ted,a Notary Public in and for said County,personally came
<br /> Larry D. Schulze and Jean L. Schulze, each in his and her own right and as spouse of
<br /> each other, who are personally known to r r
<br /> me to be the identical Thi ';; persons affixed to the above instrument u mortgagor s and they severally ta -.
<br /> r acknowledged the said itisirtrrn ntary act and deed.
<br /> WITNESS m ��ari3 Notarial Sra1,,, to aforesaid.
<br /> My Co 17� X; ta,i'..', -
<br /> Notary Public
<br /> 373.2M '8, t!' ,d
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