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76- 00066
<br /> MORTGAGE
<br /> MORTGAGE LOAN NO.,L 21,975 MGIC
<br /> KNOW ALL MEN BYTHESE PRESENTS:That Andrew J. Zavala and Cheri L. Zavala, each in his and
<br /> r(, her own right and as spouse of each Other, btortgagor,wtrether one or mare,in consideration of sirs stun of
<br /> Twenty-one Thousand Six Hundred and No/100 DOLLARS
<br /> loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island,Nebraska,Mortgagee,upon 216 shares of stock of
<br /> said ASSOCIATION,Certificate No.L 21,975 MGICdo hereby grant,convey and mortgage unto the said ASSOCIATION the following
<br /> ' described real estate,situated in Hall County,Nebraska:
<br /> THE EASTERLY THIRTY-EIGHT FEET (38') OF
<br /> LOT TWELVE (12) AND THE WESTERLY TWENTY-
<br /> FOUR FEET (24') OF LOT THIRTEEN (13) IN
<br /> BLOCK FIVE (5) IN DILL AND HUSTON'S
<br /> ADDITION TO THE CITY'OF GRAND ISLAND,
<br /> NEBRASKA: •
<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.
<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 furnislrapproved
<br /> insurance upon the buildings on said premises situated in the sum of S 21,600.00 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 rase 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 /> 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 tire 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 21,600.00 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 /> J. with all the agreements and conditions of the Bond for S 21,600.00 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 shag become moll 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 estate 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,front the
<br /> S. date of exercise of said option,bear interest at the maximum legal rate,and this mot tease may then be foreclosed to satisfy the amount due on said
<br /> bond,and any other bond for additional advances,together with alt 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 /> i 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 de of to exceed at any time the original amount oft s mortgage.
<br /> Oared this K day of\4� fp'111 r,C. A.D.,197 „
<br /> r J E. n
<br /> Yf- -te�Y'cec.✓ .-1�r.-et,(ra •/'r',ta`J�,� �tat-'rc..(/ir ,
<br /> Andrew J. Zavaka i% Cheri L. Zavali •
<br /> < STATE OF NEBRASKA;
<br /> COUNTY OF!TALE: this ,� ,t?,day o ja.. A. 19 7"6),before me,
<br /> the undersigned,a Notary bhic in and for said County,personally came
<br /> ,.Andrew J. Zavala and Cheri L. Zavala, each in his and her own right as spouse o
<br /> p:
<br /> each other, are personally known to
<br /> rrie to be the identical persouS whose names are affixed to the above instrument as mortgagor S and they severally
<br /> 4 rad:nowiedged the said instrument to be t 19.r voluntary act and deed.
<br /> WITH a cal tire date aforesaid.
<br /> i_____/. .
<br /> 7n_i/-6,,e/ \. Notary Public r
<br /> 373-2M gT �Ny;,timmelade BONS `
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