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File for' recor -mat td. , in o _ .
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<br />Jea Fisher, Register of Deeds,;
<br />MORTGAGE Ball County; Ziebraska
<br />MORTGAGE LOAN NO.L21 ,532
<br />KNOW ALL MEN BY THESE PRESENTS: That Arl en 'W. Lahrs and Barbara J. Lahrs , each•• n his and
<br />V her own. ri ght and .as spouse of each other -
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Twenty -Four Thousand and No/100-=---=---=------------------------- -------- DOLLARS
<br />loaned to said mortgagor, by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee; upon 240 shares of stock of
<br />said ASSOCIATION, Certificate No. L 21 ,532 , do hereby grant, convey and mortgage unto the said. ASSOCIATION,.the following
<br />described real estate, situated in Hall County, Nebraska:
<br />LOT SEVEN (7) IN KNICKREHM SEVENTH ADDITION •
<br />TO •THE •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 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 in the sum of S 24 ,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 />do 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; 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 />commissions 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 bf 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 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 24 , 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 24, 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 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 'sliall, 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 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 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 />Date this 27th day f March A. D., I9 75 ,
<br />.Arlen W. Lanrs
<br />STATE OF NEBRASKA,=h
<br />ss. On this day of y%I ij K C f1 19 75 ,before me,
<br />COUNTY OF HALL
<br />the undersigned, a Notary Public in and for said Count pers� nalla�c• me
<br />Arlen W. Lahrs and Barbara J. Lahrs, each in his and her own right and as spouse oec�
<br />other, `-,': --: \'"' who are personally known to
<br />.:,.
<br />me to be the identical persons whosem
<br />nae �P� re. G/afl zt cd the above instrument as mortgagor S and they severally
<br />acknowledged the said instrument to be thei � 4 iu APYga6E apoldeed.
<br />WITNESS my hand and Not a 01 he date a o,r sai��
<br />My Commission expires L j mlx,%�Upt �
<br />EXP If<ESf1
<br />�•� Notary Public
<br />3.73-2M 7e
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