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MORTGAGE—Savings and Loan Form—(Direct Credit Plan) 255.2 (Spada])
<br />MORTGAGE
<br />Loan No
<br />THIS INDENTURE,. made this 3rd dam, of March 19 L by and between
<br />M EDDIE YOUNG AND ANNA LEE YOUNG, husband and wife each in his and her own right
<br />3 and as spouse of the other,
<br />of Hall County, Nebraska, as mortgagor 5 and Home Federal Savings and Loan Association of Grand Island,
<br />a corporation organized and existing under the laws of Nebraska with its principal office and place of business at Grand Island, Nebraska,
<br />as mortgagee;
<br />WITNESSETH: That said mortgagor S for and is consideration of the sum of
<br />TWENTY-TWO THOUSAND AND NO/100------------------($ 22;000.00 1,
<br />the receipt of which is hereby acknowledged, do_ by ,these presents mortgage and warrant unto said mortgagee, its successors and
<br />assigns, forever, all the following described real estate, situated in the county of Hall
<br />and State of Nebraska, to -wit:
<br />A Certain part of the North 10 Acres of the West Half of the Northwest.Quarter(WzNVI-1) of '
<br />Section IO, Township ll, North Range•9 West of the 6th P.M. more particularly described
<br />as: Beginning at a Roint on the North Line of the North .10 Acres of the West.Half of the
<br />Northwest Qpuarter(WZNW-gDof said Section 10, which o i nt is 792.0 Feet west of the Nort
<br />hea
<br />Corner of the North 10 Acres of the West Half of tie Northwest Quarter(WZNW„) of said Sec on
<br />10; Running thence south parallel to the East Line of the North IO Acres of the West Half
<br />of the NorthwestQuarter(WZNWµ) of Said Section 10, 331.0 Feet, Running thence. West parall I
<br />to.th N rth ne. f th N rah 10 Acr s of the WWest H f of th N rthw st Quartt r% NW=)o
<br />said ec� t on � b, I �L. O fele Running t�iesnce Nortli para � e l to tie �ast of in of tie N6rthi
<br />10 Acres of the West Half of the Northwest Quarter of said Section 10, 331.0 Feet to a
<br />��j t n t -}-he N r h ine ff th e North lO Acrgs pf the Wegt Half f thh e N r hwest Q rt r
<br />JZ�W4 of sai� ec�lon ?0, Running thence EasT upon and along �he Nort�i �ine of, �ie f�ortf�
<br />10 Acres of the West half of the Northwest Quarter(WZNW-D of said Section 10 12.0 Feet
<br />:to the actual point of beginning,.subject, however to one half of the County Road to the
<br />North of said premises.
<br />$ Together with all ' heating, lighting, and plumbing equipment and 'fixtures, including stokers and burners, screens, awnings, storm windows
<br />> 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 />'ing, or in anywise appertaining, forever, and warrant the title to the same. Said mortgagor S hereby covenant_ with said mortgagee
<br />that +hem_ are at the delivery hereof, the lawful owner -S_ of the premises above conveyed and described, and a 12-0
<br />seized of a good and indefeasible estate of inheritance therein; free and clear of all encumbrances, and that the_. 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-TWO THOUSAND AND NO/100---=------------------------------ dollars (S 22,000.00 t,
<br />with Interest thereon, together with such charges and `advances as may be due and payable to said mortgagee under the terms and
<br />conditions of the promissory note of even date herewith and secured hereby, executed by said mortgagor_ 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 />hereby incorporated herein by this reference.
<br />It is the intention and agreement of the parties hereto that this mortgage shall' also secure any future advances made to said
<br />mortgagors_ by said mortgagee, and any and all indebtedness in addition to the amount above stated which said mortgagors, or, any
<br />6f them, may owe to said mortgagee, however, evidenced, whether by note, book account or otherwise. This mortgage shall remain in full
<br />force and effect between the parties hereto and their heirs, personal representatives, successors and assigns, until all amounts • secured
<br />hereunder, including future advances, are paid in full with interest.
<br />The mortgagors_ hereby assign to said mortgagee all rents 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 is the note hereby secured. This
<br />rent, assignment shall continue in force until the unpaid balance of said note Is fully paid. The taking of possession hereunder shall in no
<br />manner prevent or retard said mortgagee in the collection of said sums by foreclosure or otherwise.
<br />3The 'failure of the mortgagee . to assert any of its rights hereunder at any time shall not be construed as a waiver of its: iight to assert
<br />the same at any later time, and to Insist upon and enforce strict compliance with all the terms and 'provisions of said note and of this
<br />mortgage.
<br />If 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 />thereof, and If said mortgagor -_S_ shall comply with all the provisions of said note and of this mortgage, then these presents shall be void;
<br />S 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 all indebtedness represented thereby to be immediately due and payable, and may foreclose this
<br />mortgage or take any other legal action to protect its right, and from the date of such default all items of indebtedness secured hereby
<br />shall draw Interest at 9,% per annum. Appraisement waived.
<br />This mortgage shall be binding- upon and shall enure to the benefit of the heirs; executors, administrators, successors and assigns of
<br />the respective parties hereto. ,
<br />IN WITNESS. WHEREOF, said MortgagorS ba_ L hereunto set their hand_ the day and year first above
<br />i written.
<br />Alwl w
<br />iLaai O
<br />Anna.Lee You
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