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<br /> 1,f MORTGAGE—Savings and Loan Form—(Direct Credit Plan) 255.2(Special) , `
<br /> 1JU0946, MORTGAGE .
<br /> + 76
<br /> i'$' Loan No
<br /> y , nils INDENTURE,`mud.'hi. 26th - ,t.ry of Februal'Y.. l9_7.6.,by and between
<br /> LEONARD M. TRAUDT AND.RAMONA M. TRAUDT, husband and wife, each in his and her own right
<br /> + and-as spouse of the other
<br /> a
<br /> of .Hell county.Nebraska,as mortgagor.S and Home Federal Savings and Loan Association of Grand Island,.
<br /> a corporation organised and existing under..the laws of Nebraskawith its:principaloffice and place of business at Grand.Island,.Nebraska,
<br /> as mortgagee:
<br /> f� WITNESSETH: That said mortgagor...L.for andin consideration of the sum of
<br />• l TWENTY SIX THOUSAND SEVEN HUNDRED AND NO/100 foliate (e 26,700.00 ),
<br /> 10
<br /> the receipt of which Is hereby acknowledged,da_by these presents,mortgage and warrant unto said mortgagee, its successors and
<br />'ft'
<br /> ` assigns,forever,all the following described redestate,situated in the county.of Hall
<br /> rand State of Nebraska.to-wit:
<br /> Ra
<br /> y LOT FIFTEEN (15) IN SPELTS-SCHULTZ ADDITION TO THE CITY OF
<br /> fir .
<br /> - GRAND ISLAND, HALL COUNTY, NEBRASKA.
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<br /> r"f
<br /> 1 t S Together with all.heating. lighting, and plumbing equipment and fixtures,including stokers and burners,screens,awnings,storm windows..
<br /> r S and.doors,.and window shades or blinds,used on or in connection with said property,.whether the same are now located on said property-.
<br /> or hereafter placed thereon.
<br /> • TO HAVE AND TO HOLD THE SAME,together with all and singular the tenements,hereditaments and appurtenances thereunto belong.
<br />'. log,or in anywise appertaining,forever,and warrant the title to the same. Said mortgagor—S--hereby covenant_with saidmortgageeif
<br /> that t hey are at the delivery hereof,the lawful owners of the premises above conveyed and described,and are
<br />,2,';`,. seised of a good and indefeasible estate of inheritance therein,free and clear of all encumbrances,and that_....Lits`L will warrant and
<br /> defend the title thereto forever against the claims and demands of all persons whomsoever.
<br /> PROVIDED ALWAYS, and this instrument is executed and delivered to secure the payment of the sum of
<br />�"' TWENTY SIX THOUSAND SEVEN HUNDRED AND NO/100
<br /> fount. (a 26,700.00 L
<br /> '' with interest thereon,together with such charges and advances as may be due and payable to said mortgagee under the terms and
<br /> Az
<br /> conditions of the promissory note of even date herewith and secured hereby,executed by said mortgagor-1—to said mortgagee,payable
<br />• as expressed in said note,and to secure the performance of all the terms and conditions contained therein. The terms of said note are
<br /> Pk,; .. hereby incorporated herein by this reference.
<br /> j`. It is the intention and agreement of theparties hereto that this mortgage shall also secure any futureadvances made to said
<br /> :.- mortgagor.2._by said mortgagee,and any and all indebtedness in addition to the amount above stated which said mortgagors,or.any.
<br />' of them.may owe to said mortgagee,however evidenced whether by note,book account or otherwise. This mortgage shall remain in full
<br /> forceand effect between the partieshereinand their heirs,personal representatives, successors and assigns, until all amounts secured
<br /> hereunder,including future advances,are paid in full with interest
<br /> The a
<br /> martg qorS hereby^.•+q_nto said mortgagee allrents and income arising at any and all times from said property and
<br /> •• - hereby authorize said mortgagee or its agent.at its option,upon default.to take charge of said property and collect all rents and income
<br /> therefrom and apply the same to the payment of interest principal,insurance premiums,taxes,assessments,repairs or improvements-neces•
<br /> sary to keep said property In tenantable condition,or to other charges or payments provided for herein or in the nets.hereby secured. This
<br /> ri ' rent assignment shall continue in force until the unpaid balance of said note Is fully paid. The taking of possession hereunder shall fn no
<br /> rsumanner prevent or retard sold mortgages in the collection of said sums by Ioreclore or otherwise.
<br /> i The failure of the mortgagee.to assert any of its rights hereunder at any time shall not be construed as a waiver of its right to assert
<br /> 6 t the same al any later time,and to insist uponaad enforce strict compliance with. all the terms and provisions of said note and of this
<br /> l'4,. mortgage.
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<br />'`I;.- H said mortgagors_shall cause to be paid to said mortgagee the entire amount due it hereunder,and under the terms and provisions
<br />'- - of said note hereby secured.Including future advances,and any extensions or renewals thereof in accordance with the terms and provisions
<br /> Lt.
<br /> t' thereof.and U said mortgagor-1_shall comply with all the provisions of said note and of this mortgage,then these presents shall be void:
<br /> 5 ; f- otherwise to remain:In full force and effect and said.mortgagee shall be entitled to.the possession of all of said property,and may..at its
<br /> ' - option;declare the whole of said note and alt indebtedness represented thereby to be immediately due and payable,and may foreclose this
<br />,,,f shall or Interest any perl�um action to protect its right and from the dab of such default all items of indebtedness secured hereby
<br /> 9% pprdsement waived.
<br /> " Thisthe .mortgamortgageg :shall be binding upon and shall enure to the benefit of the heirs.executors,admiobadors.successors and assigns of '.
<br /> ispective parties;hereto.
<br /> in h
<br /> IN WITHNS WHEREOF, said Mortgagor S ^ -Vehereunto est their h,.,.dsi_the day and year first above
<br /> ,; 'I written..
<br />• ` Le'Q ntfrd M. Trau1t •
<br /> ,LFA/ t,ry '_,, .��r.ttf,,�
<br /> tit Ramona M. Traudt
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