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<br /> 76- 0(}0023
<br /> i MORTGAGE _
<br />'' MORTGAGEi LOAN NO. L 21,998 .
<br /> KNOW ALL MEN BY THESE PRESENTS:That Virgil H. Sorensen and Mary Jane Sorensen, each in his
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<br /> and her own right and as spouse of each other
<br />�.`3. • Mortgagor,whether one or more,in consideration of the sum of
<br /> s Four Thousand Three Hundred and.No/100 DOLLARS
<br /> loaned to said mortgagor by The Equitable Building and Loan Aswciation of Grand Island,Nebraska,Mortgagee,upon 43 shares of stock of
<br /> f,- ,do hereby grant,convey and mortgage unto the said ASSOCIATION the following.
<br />(-, said ASSOCIATION,Certificate No.L 21 998
<br />' described real estate,situated In Hall County,Nebraska:
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<br /> WEST ONE-HALF (Wz) FO LOTS ONE (1) AND
<br />;% TWO (2), IN BLOCK TWENTY-TWO (22), IN
<br /> PACKER AND BARR'S SECOND ADDITION TO
<br /> f'' THE CITY OF GRAND ISLAND, NEBRASKA.
<br />,,,'; together with all the tenements,hereditaments and appurtenances thereunto belonging,including attached floor coverings,all window screens,
<br /> F. window shades,blinds,storm windows,awnings,heating,air conditioning,and plumbing and water equipment and accessories thereto,pumps,stoves,
<br /> L?, refrigerators,and other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
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<br /> Y 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 />§"i;; insurance upon the buildings on said premises situated in the sum of 54,300.00 payable to said ASSOCIATION and to deliver to said
<br />..{G ASSOCIATION the policies for said insurance;and not to commit or permit any waste on or about said premises:
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<br /> VIn 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 tete 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 /> i' 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,reveoues and income,and it may pay out of said income all expenses of repairing said premises and necessary
<br /> Yl commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom;the balance remaining,if any,to be
<br /> tv applied toward the discharge of said mortgage indebtedness;these sights of the mortgagee may be exercised at any time during the existence of such
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<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 /> i' 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 /> f•-' 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 /> t; and the Bond secured thereby,before delinquency:furnish approved insurance upon the buildings thereon in the sum of S 4,300.00 payable
<br /> 1E 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 /> .4,' with all the agreements and conditions of the Bond for S 4 300Q0 this day given by the said Mortgagor to said ASSOCIATION,and comply
<br /> i'-'' with all the requirements of the Constitution and By-Laws of sanfASSOCIATION;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 /> '0 If these is any change in ownership of the teal estate mortgaged herein,by sale or otherwise,then the entire remaining indebtedness hereby
<br /> s' 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 /> 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 /> ,I..,,,'1secured thereby,the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br /> �; Dated this 25th day of February A.D.,19 76
<br /> 4t jr �e (.fx�-�e, �"..�,e.-,,�4,-,--c Y1i
<br /> 'i Vit rl H., renSeTTy Mary Jade Sorensen
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<br /> { STATE OF NEBRASKA,(ss On this 25th dayof February 19 76'.before me,
<br /> COUNTY OF HALL
<br /> .'; - the undersigned,a Notary Public in and for said County,personally came
<br /> Virgil H. Sorensen,and Mary Jane Sorensen, each in his and her own who are personally known to
<br /> right'and as spouse of each other
<br /> `' me to be the identical person 5 whose name S affixed to the above in ument as ortgagor 5 and they severally
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<br /> ': -acknowledged the said instrument to be thei r voluntary act and deed.
<br /> ct - WITNESS my hand and Notarial Seal the date aforesaid.
<br /> My Commission expires Ate 7.`
<br /> .. /.21 7g / Notary Pub is
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<br /> !i e_, 7�t My Cora t..., r 17.1379 I
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