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MAATfSACSF C....i. .. —AT.....,. F....., _(Tlir.r-! r—At! Plnnl 755.2 d., -i.]) - -
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<br />MORTGAGE
<br />Loan No
<br />THIS INDENTURE, made this 12th day of Ma rch 191_5 . by 'and between
<br />JACK F.' SCHAEFFER AND JO ANN SCHAEFFER, husband and wife, each 'in his and'her' own
<br />right and as spouse 'of the other;
<br />Of Hall County, Nebraska, as mortgagor S 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 ofbusiness at Grand Island, Nebraska,
<br />as mortgagee:
<br />WITNESSETH: That said mortgagor S , for and .inconsideration of the sum of
<br />TWENTY—THREE THOUSAND.ONE HUNDRED AND NO/100------------- -------- --nollars (S 23;1.00.00 ),
<br />the ieceipt of which in hereby acknowledged, do— by those presents mortgage and warrant unto said mortgagee, its successors and
<br />assigns, forever, all the following described real estate, situated in the county of Ha I I
<br />and State of Nebraska, to -wit:
<br />THE'SOUTH FORTY (40) FEE.T:-OF LOT SIX (6) AND THE NORTH "S I XTEEN (16) 1
<br />FEET OF LOT.EIGHT (8), ALL IN BLOCK THREE (3),'IN UNIVERSITY PLACE,
<br />AN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Together with all hooting, lighting, and plumbing equipment .and fixtures, including stokers and bumers, 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 appurtenance's thereunto belong -
<br />Ing, or In anywise appertaining, forever, and warrant the title to the same. Said mortgagor— hereby covenant with said mortgagee
<br />that thou_ are , at the delivery hereof,' the lawful owners- of the premises. above conveyed and described, and are
<br />T seized of a good and indefeasible estate of inheritance+ therein, free and clear of all encumbrances, and that t ho_\/- 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-THREE THOUSAND ONE HUNDRED -AND NO/100 ------------------- ollars (s 2-1 ion - nn >,
<br />with interest thereoh, together with such charges and advances as may be duo 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 S 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 />mortgagor 5 by said mortgagee, and any and all indebtedness in addition to tho amount above staled 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 />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 mortgagor -a— hereby assign to said mortgagee all rents and income arising at any ° and bll 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 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 />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 />3 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 mortgagor --L- shall cause to be paid to said mortgagee' the entire amount due it hereunder, and under the Corms 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_ , 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..W1 REOF, •said .Mortgagors_ha Ve hereunto° set their hand —S_ the day and year first above
<br />written.
<br />Jack efts f fer
<br />:., o c ae. er
<br />6 11
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