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<br />TunaTr_ar_r_c.a. ,. ,....t T,...., r..rm—tmmct Crndit Plan) 2552 (Svedal)
<br />Or
<br />MORTGAGE
<br />Loan No
<br />/Q 31stMarch 19 75 by and between
<br />`T THIS INDENTURE, made this day of
<br />RAMADA PLAZA, LTD
<br />of Hal I 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 of business at Grand Island, Nebraska,
<br />as mortgagee:
<br />WITNESSETH: That said mortgagor 5 , for and'in consideration of the sum of
<br />SIX THOUSAND FIVE HUNDRED AND NO/ 100--=-------------- ------------+ ollars (s 6r9n0 • 00 >,
<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 Ha 1 I
<br />and State of Nebraska, to -wit:
<br />LOT TEN (10.) WOODLAND SECOND -SUBDIVISION, AN'ADDITION TO THE CITY•OF
<br />GRAND ISLAND, HALL COUNTY,.NEBRASKA.
<br />SUBJECT TO A PRIOR MORTGAGE 1N THE.ORIGINAL AMOUNT OF $110,000.00, INS
<br />FAVOR OF HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF. GRAND ISLAND
<br />RECORDED IN BOOK 164, PAGE:246, OF THE MORTGAGE RECORDS OF°HALL COUNTY;
<br />NEBRASKA.
<br />>i 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 is connection with said property, 'whether the same are now located on said property
<br />or horeafter 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 tho title to the same. Said mortgagor— hereby covenant_ with said mortgagee
<br />that
<br />-he are at the delivery hereof, the lawful owners of the premises above conveyed and described, and a rg
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<br />seized of a good- and indefeasible estate of inheritance therein, free and dear of all encumbrances, and that _+ny_ 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 />SIX THOUSAND FIVE HUNDRED AND NQ/1.00 ------------=--------------nollare (s' 6,500.00 -
<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 S to said mortgagee, payable
<br />as expressed in said noto, .and to.°secure the performance of all the terms and conditions containedtherein. 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—s by said mortgagee, and any and all indebtedness in addition to the amount above stated 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 is 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 />itherefrom 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 fa fully paid. The taking of possession hereunder shall in no
<br />:manner .prevent or retard said mortgagee is 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 d waiver of its right 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 mortgagor—S shall cause to he 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 mortgagors_ 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 VniEREOF., said`Mortgagors_hrl Ve hereunto se day and year first above
<br />i written..-, RAMAD •- ?LAZA ' LTD:a Al
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<br />15 -17
<br />°. •.ex J..an r i c on - Henr; C: ach.
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<br />e en tto r. i c Son' ~ ac
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