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<br /> � �� 005586 REAL ESTATE MORTGA � ; '
<br /> GE .� , _ _.
<br /> i JERRY L. SCHULTZ AND LINELL S. SCHULTZ, husband and wife, oach in his and her own
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<br /> q� right and as spouse of the other � ;
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<br /> �- of the County of Ha I I and State of Nebraska t+ereinatter called the paMy of the first part,in � `
<br /> "' FORTY THOUSAND AND NO/100 -- ----- ' �
<br /> 4 ------ --------- ------------------ DOLLARS� ,
<br /> < consideratlon of _ .
<br /> � ln hand pald, do hereby grant,bnrgain,sell and convey unto t6e Home Federal Saviags&Laan Assoclation ot Grand Island, �
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<br /> � Grand Island,Nebraska,sind its successors and assigns,t6e following real estate,situated in Ha I I ;
<br /> � County,State o�Nebraska ��t. i -
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<br /> � LOT TWENTY-ONE (21>, BLOCK TWO (2), IN SOUTHERPJ ACRES ADDITIOhJ, AN ADDITION TO THE
<br /> �;� CITY OF 6RAND ISLAND, HALL COUIJTY, NLBRASKA �
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<br /> �,� l7 Together with all the appurtenances thereunto belonging,and all covenants in all the title deeds running with said real estate,
<br /> �j and all the rents,issues und profits arising theretrom after default in performance of any covenant or coadition herein con- � �
<br /> +� � tained;and wazranis the title thereto perfect and clear except for this mortgage.
<br /> � k.� During the time this mortgage is in force the mortgagors agree: R� ,
<br /> ,., Firsk To pay all taxes nnd speeial assessments levied against said premises, including all taxes and usessments levied e
<br /> j upon this mortgage,or the debt secured by this mortgage.
<br /> � � Second. To keep all buildings thereon insured agaiast loss by tire,lightning und tornado in some company,to be ap� � '
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<br /> $� � prove d by t4e said Home Fe deral Savings&Loan Associe tion o f Gran d Is lan d in t he sum o f g I n s u r a b l e V a I u e for j}
<br /> � the benefit of the said Association,and its successors or assigns; and to deposit said policies with said Association,and ahall not � ,
<br /> �. � commit or suffer any �vaste on said premises, and shall put and keep said real estate buIIdings and improvements in good
<br /> � � order. ��
<br /> Third. To pay or cause to be paid to the Home Federal Savings&Loan Associalion of Grand Island,its successors or t` t
<br /> � }� FORTY THOUSAND AfdD NO/100 -- �
<br /> � assigns,the sum of$ ------------------------------- DOLLARS,
<br /> �� payable ns follows:
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<br /> t:� �40,000.00 DUE OCTOBER I, 1977 �� ,
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<br /> 1 with interest thereon payable,according to the tenor and efEect of the one certatn first mortgage note of said mortgagors, �
<br /> r }; bearing even date with these presents. Atter maturity said bond draws interest nt the rate of nine per cent per annum. _
<br /> 1 �°� If said taxes and assessments are not paid when due, or if the buildings on said premises are not insumd as above pro- '
<br /> :� J� vided,or if any of said interest is not paid wLen due,then said u�hole deht shall become due immediately,at the option af the �
<br /> � r� said Association,and shall thereafter draw interest at the rate of nine per cent per annum.
<br /> � r� The mortgagor 5 hereby assign— to said mortgagee all rents and income arising at any and all times from said y{
<br /> property and hereby authorize said mortgagee or its agent,at its option, upon default, to take charge of said property and �
<br /> # � collect all rents and income therefrom and apply the same to thc payment af intetest, principal, insurance premiums,tnxes, � -
<br /> �j �f pssessments, repaits or improvements necessary to keep said property in tenaatable condition, or to other charges or pay � �
<br /> �1 ments provided for herein or in the note heteby secured.This rent assignment shall continuc in force until the unpaid bal
<br /> ance of said note is fully paid. The taking of possession hereunder sh¢ll in no manner prevent or retard said mortgagee in �
<br /> � � the colleMian of said sums by foreclosure or olhenvise.
<br /> � �i'hether said debt becomes due by lapse of tune, or by reason of the failure of the party of the fitst part to comply ;
<br /> % �j� with any condition herein,the said Home Federal Savings &Loan Association af Grand Island, the successors and assigns ;-;
<br /> shall have the right to begiu the foreclosure of this mortgage at once on the whole debt hereby secured, and to include ;y
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<br /> ,� �l therein all taxes, assessments, insurance premiums and costs,paid by it or them; or said Association, its successors or
<br /> � �2 assigns, may foreclose only as to the sum past due, without injury to this mortgage, or the displacement or impairment ��t
<br /> � of the lien thereof. �
<br /> � And the said first party and the makers of said note,especially agree and declare that the separatc estate of each and
<br /> � �S every•one of them, including both that now owned and that heteatter acquired,is pledged and 6ound for thc payment of �t
<br /> s f� tve debt hemby secured. -.�
<br /> ; tL•tet the commencement of any suit in foreclosure the plaintiff thetein shall be enfitled to the immediate possession of y
<br /> � � said pmmises and the appointment of a receiver therefor, notwithstanding they may be the homestead af the occupant and �
<br /> ; `� notwithstanding the parlies liable for the debt may be solvent,and the first party hereby consents to the appointment of a <, , j
<br /> Recelver upon the production of this indenture,without other evideace. �; ��� r"
<br /> `,! � The foregoing conditions und agreements, all and stngulur,being fully perEormed,this conveyance shall be void,other- ,�y �?,
<br /> ; � wise to be and remain in full force and eftect � y�
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<br /> ; � 30th September 76 �� �
<br /> � Signed rhiQ daY of �_ � D., 19 � �
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