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7& 000849
<br /> MORTGAGE
<br /> MORTGAGE LOAN NO. L 21,993 MGI C
<br /> KNOW ALL MEN BY THESE PRESENTS:That James E. Gartner and Sherri D. Gartner, each in his and
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<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 Four Hundred and No/100
<br /> -DOLLARS
<br /> loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island,Nebraska,Mortgagee,upon 274 shares of stock of
<br /> said ASSOCIATION;Certificate No.L 21,933 MGICdo hereby grant,convey and mortgage unto the said ASSOCIATION the following
<br /> described real estate,situated in Ball County,Nebraska:
<br /> THE NORTH FORTY-FOUR (44') OF LOT TWO (2), IN BLOCK TWENTY-ONE (21), IN
<br /> SCARFF'S ADDITION TO WEST LAWN, IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br /> NEBRASKA, AND A TRACT OF LAND LYING ADJACENT THERETO AND BEING A PART OF
<br /> WHAT WAS FORMERLY WEST 17TH STREET IN THE CITY OF GRAND ISLAND, NEBRASKA,
<br /> AS VACATED BY SAID CITY BY ORDINANCE NO. 3993 DATED MAY 15, 1963, AND MORE
<br /> PARTICULARLY DESCRIBED AS FOLLOWS, TO-WIT: BEGINNING AT THE NORTHWEST
<br /> CORNER OF LOT TWO (2), IN BLOCK TWENTY-ONE (21), IN SCARFF'S ADDITION TO
<br /> WEST LAWN, IN THE CITY OF GRAND ISLAND, NEBRASKA; RUNNING THENCE EAST ALONG
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<br /> AND UPON THE NORTH LINE OF SAID LOT TWO (2), TO THE NORTHEAST CORNER OF SAID
<br /> LOT TWO (2); THENCE RUNNING NORTHERLY ON A PROLONGATION OF THE EAST LINE OF
<br /> SAID LOT TWO (2), FOR DISTANCE OF FOURTEEN FEET (145); THENCE RUNNING WEST,
<br /> PARALLEL WITH THE NORTH LINE OF SAID LOT TWO (2), TO A POINT ON A PROLONGATION
<br /> OF THE WEST LINE OF SAID LOT TWO (2); THENCE RUNNING SOUTH ON A PROLONGATION
<br /> OF THE WEST LINE OF SAID LOT TWO (2), FOR A DISTANCE OF FOURTEEN FEET (14') TO
<br /> THE NORTHWEST CORNER OF SAID LOT TWO (2), BEING THE POINT OF BEGINNING.
<br /> together with all the tenements,heteditaments 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 wills 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 527,400.00 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 front 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 sante 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 he 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 sun 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 27,400.00 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 s27,400.00 this day given by the said Mortgagor to said ASSOCIATION,and comply
<br /> with ail 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 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
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<br /> legal rate.
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<br /> As provided in the Bond secured hereby,while this mortgage remains in effect the mortgagee may hereafter advance additional suns 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 /> /secur d thereby,the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br /> Dated fids 41 h ,dayof 76
<br /> / / ! ebruary A.o.,t9
<br /> mes E. artn r Sherri D. Gartner
<br /> STATE OE NEBRASKA, .
<br /> COUNTY OF}TALL ss. On this 20th day of February 19 76 ,before me,
<br /> the undersigned,a Notary Public in and for said County,personally came
<br /> James E. Gartner and Sherri D. Gartner, each in his and her own right and as spoue oof
<br /> vf each'other;,' who are personally known to
<br /> me to be the identical person S whose name S are affixed to the above instrument_as mortgagor S and
<br /> they severally
<br /> acknowledged the said instrument to be their voluntary act and deed. .
<br /> WITNESS my hand and Notarial Seal the date aforesaid. (f '
<br /> My Commission expires
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<br /> 4GEIIERAL NOTARY-Slat.of Nebr. `C-f3�-i z_ /7
<br /> ,3-2M JP.?7,995 W.OISCA1 / Notary Publii
<br /> c-.;k,+-^!; My Cm
<br /> cm .Lap.flcv.12.1979 c�-
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