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<br /> 76- 00106 i
<br /> MORTGAGE — _
<br /> MORTGAGE LOAN NO. L 22,Q01
<br /> KNOW ALL MEN BYTHESE PRESENTS:That David A. Ellington and Louise E. Ellington, husband and
<br /> rwife and Lyle Edward Richards and Susan Carol Richards, husband and wife,
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<br /> ' Mortgagor,whether one or more,in consideration of the sunt of
<br /> Seventy-five Thousand and No/100 DOLLARS
<br /> loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island,Nebraska,Mortgagee,upon 750 shares of stock of
<br /> '" ,do herebymortgage following
<br />• said ASSOCIATION,Certifiu7te No.L 22,001 grant,convey and nutrt s�o unto the said ASSOCIATION the
<br />'7 Y described real estate,situated in Dalt County,Nebraska: .
<br /> C
<br /> LOTS FOUR (4), FOURTEEN (14), FIFTEEN (15), •
<br /> AND SIXTEEN (16), FARRALL SUBDIVISION, IN THE
<br /> CITY OF GRAND ISLAND, HALL COUNTY, 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 seal estate.
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<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 sun of S 75,000.00 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 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;arid 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 /> _t commissions and expenses incurred in renting and managing the same and of collecting renals 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 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 shams by
<br /> payment;pay monthly to said ASSOCIATION of the suer 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;runtish approved insurance upon the buildings thereon in the sum of S 75,000.00 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 /> 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 75,000 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;then these presents shall become null and void,otherwise they
<br /> shall remain in full force arid may be foreclosed at the option of the said ASSOCIATION aftel 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 inunediately 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 ran said
<br /> i. 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 reains in effect the mortgagee may hereafter advance additional suras to the
<br /> . nnmakers of said Bond,their assigns or successors in interest,which sums shall he within the security of this mortgage the same as the funds originally
<br /> secured thereby,the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br /> Dated tins 26th day of February A.u.,r� 76
<br /> • il!/Ql`` d Oce;.',. ,,, rte..',.,,z...-- L'''- ,..'----e-",--er. r!l�7
<br /> DaVa El)ingtol> Louise E. Ell irl�ton t'
<br /> e ,, !r Yalird,el k",44zt-,c', ?4-r,neer,--i Ct-3341.4.7 ff'//rl4"-it1
<br /> le Edward Richards Susan Carol Richards
<br /> STATE OF NEBRASKA, ss On this 26th day of February 19 76 ,before me
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<br /> COUNT OF HALL}
<br /> the undersigned,g Notary Public in and for said County,personally came
<br /> David A. Ellington and Louise E. Ellington, husband anif , and Lyle Edward Richards and
<br />• s' Susan Carol Richards, husband and wife, who are personally known to
<br /> (P':
<br /> me to be the identical persons whose name 5 are affixed to the above instrument as mortgagors and they severally
<br /> 'acknowledged the said instrument to be their voluntary set and deed.
<br /> WITNESS my hand and Notarial Seal the date aforesaid.
<br /> + My Commission expires /
<br /> I . / /. 7/ --d---u,-((:c7 X
<br /> } Caa't.rt:'PY. /J Notary Public
<br /> 3732M
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