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<br /> 76- 000720
<br /> MORTGAGE
<br /> MORTGAGE LOAN NO. L 21,976
<br /> KNOW ALL MEN BY THESE PRESENTS:That Walton P. Brown and Margaret L. Brown, each in his and
<br /> 0and her own right and as spouse of each other, Mortgagor,whether one or more,In consideration of the sum of
<br /> ; Twenty-two Thousand and No/100 .DOLLARS
<br /> A. loaned to said mortgagorThe Equitable Building and Loan Association of Grand Island,Nebraska,Mortgagee,upon220
<br /> c;i 686 by q � B shares of stock of -
<br /> said ASSOCIATION,Certificate No.L 21,976 ,do hereby grant,convey and mortgage unto the said ASSOCIATION the following
<br /> .t,,' described real estate,situated In Hall County,Nebraska:
<br /> is`'
<br /> e.'i
<br /> LOT FIFTEEN (15), IN BLOCK ONE (1),
<br /> IN DILL & HUSTON'S ADDITION TO GRAND
<br /> • 7•
<br /> ISLAND, NEBRASKA. _
<br /> y .
<br /> 11
<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 /> IS' assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent;to furnish approved
<br /> ..t- insurance upon the buildings on said premises situated in the sum of S 22,000.00 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 anyof the terms and conditions of this mortgagehereby, gag
<br /> ;,- p or the bond secured the mortgagee shall,
<br /> Y' 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 /> _ .c 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 /> -I 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 22,000.00 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 /> :11., 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 22,000.00 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;th-n 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 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,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 /> As provided in the Bond secured hereby,while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br /> s 4r 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 /> t' secured thereby,the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br /> �Daatt th' 7th.. day of February A.D.,19 76
<br /> 1i Walton P. Brown Margdret L. Brown
<br /> 4• .
<br /> 1.
<br /> '`, STATE OF NEBRASKA,l
<br /> ' ss. On this 7th day of February 19 75,before me,
<br /> COUNTY OF HALL
<br /> the undersigned,a Notary Public in and for said County,personally came
<br /> Walton P. Brown and Margaret L. Brown, each in his and her own right and as spouse of
<br /> ea s .ther, who are personally known to
<br /> .F 9 b person s whose name s are affixed to the above instrument as mortgagors and they severally
<br /> ,9.-:/ ei,�'c' taW`i s ge4tltq.:,y instrument to be their voluntary act and deed,
<br /> 'f f` '4WI ';'ESS my hand and Notarial Seal the date aforesaid.
<br /> V i S}
<br /> xl c emission expires es( , �/ t ltv it 1 '11, 1r � .
<br /> At
<br /> -`,atf, 73.2M
<br /> Notary Public
<br /> ..:',"1-_,,...3
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