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<br />Jeal Fisher, _ egister of Deeds,:.
<br />MORTGAGE
<br />J+all County. Ti hraGka
<br />MORTGAGE LOAN NO..L 21,517
<br />KNOW ALL MEN BY THESE PRESENTS: That ' Merle D. Schenk and Arleen A. Schenk, each ,in his and
<br />her own right and as spouse of each other, Mortgagor, whether one or more, in consideration of the sum of
<br />Eight Thousand Five Hundred and No/100---------------------------------------- - ------ DOLLARS
<br />loaned to said•mortgagorby The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 85 shares of stock of
<br />said ASSOCIATION, Certificate No. L 21 , 517 , do hereby grant, convey and mortgage unto. the said ASSOCIATION the following
<br />described real estate, situated in 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 real estate.
<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 iti the sum of S 8 , 500.00 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 tire' 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; and 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 />contmissions" and expenses incurred' in renting and managing the same and of collecting rentals 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 1%lortgagor shall repay said loan on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIATION of the sum 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; furnish approved insurance upon the buildings thereon in the sum of S 8x500.00 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 frodate 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 8 •, 500.00 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 and may be foreclosed at the option of the said ASSOCIATION after 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 immediately due and payable without
<br />further notice, and the amount remaining due under said bond, and any other bond forany 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 on said
<br />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 remains in effect the mortgagee may hereafter advance additional sums to the
<br />-makers of said Bond, their assigns or successors in interest, which sums shall be 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 this 14th day of March A. -D., 19 75 /-
<br />• M rle D. Schenk Arleen A. Schen
<br />STATE OF NEBRASKA,
<br />COUNTY OF HALL ss.On this 14th day of. March 19.75 ,before me,
<br />t re undersi ned, a Notary Pul2lic in and f r said County, personally ca e
<br />Merle D:•Schenk and Arleen A. Schenk, each in lis ands her own right and as spouse of eac`�
<br />other, who are personally known to
<br />in _ a th erson S. - whose name S .are affixed to the above instrument as mortgagor S and they severally
<br />cku�ctwlcqgez> t11eZa" trument io be their voluntary act and deed.'
<br />;NVLTN • my hand and Notarial Seal the date aforesaid.
<br />�•' o; ^ �l -',rr� %'lytOJn� ISSiOn expires n.mk
<br />1. 1 1,
<br />V Notary Public
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