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<br />S� Je Fisher, Re„ister of.Deeds,
<br />MORTGAGE Hall-CoLinty., Nebraska '
<br />Y�
<br />MORTGAGE LOAN NO. L 21 , 557 sb
<br />KNOW ALL MEN BYTHESE PRESENTS: That, ..Arnold D. Frandson and Verna M. Frandson', each in his.
<br />and her own right and as spouse of. each other, mortgagor, whether one `or more, inconsiderationofthe sum of
<br />Two Thousand and No/100------------------ ------------------------------------- ---- DOLLARS
<br />loaned to said mortgagor by The Equitable Building and Loan Association' of Grand Island, Nebraska, Mortgagee, upon 20 shares of stock of
<br />said ASSOCIATION, Certificate No:' L 21 5557 , do hereby grant, convey and mortgage unto the said .ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:,
<br />LOT FOUR (4) :IN BLOCK -TWO (2) IN CAPITAL.HEIGHTS SECOND
<br />SUBDIVISION,.BEING:A PART OF THE SOUTHWEST QUARTER OF
<br />SECOND TWO (2), TOWNSHIP• ELEVEN (11) NORTH, RANGE
<br />TEN (10) WEST OF THE 6TH P.M.
<br />Subject to a prior mortgage to the mortgagee herein in
<br />the principal amount of -$254000.00, dated May 165 1974.
<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 sliall become delinquent;,to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 2 , 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''abotit said premises;
<br />In case of default in the performance of any of the terms and condit}ons of this mortgage or the bond secured ltereby,.;the mortgagee shall,
<br />on demand, be entitled to immediate possession of themortgaged 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 Venting
<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 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 Mortgagor shall repay said loan on or before the maturity of said'shares by
<br />payment; pay monthly to said ASSOCIATION of the slim 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 thercon imtlte sum of S 2,000.00 '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 bf 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 2 , 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 tlte'se 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 indebtednesshereby
<br />secured shall, at the option of The Equitable Building and Loan Association of Grand lsland 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 />Dated this 16th day of April A. D:, ig75 / J
<br />'�;' oG`L� � `/,���i�tic.�!'—=---- ' / Jl,'�'i) r r"; `�'} ). �i�, I l.! 'Y [ l-(_.•c?,!'7L/
<br />Arnold D.. Frandson Verna*M. Frandson
<br />STATE OP NEBRASKA;. ss. On this 16thday of Ap.19 ri 1 75 before me,
<br />COUNTY OF HALL .
<br />the u dersigned, a Notary Public ill aid for sal County, personally ame
<br />Arnbld D..Frandson and Verna M. Frandson, each 1n`�11s and her own right and as spouse:OT
<br />each other, who are personally known to
<br />me to be the identicAl*ksonS whose name S are affixed to the above instrument as mortgagor S and they severally.
<br />acknp ge aid instrument'to be their voluntary act and deed.
<br />+ •MoK ESS my hand and Notarial Seal the'date aforesaid.
<br />N 'E R 9 Co mission expires
<br />;7 PIOTARY l of Public
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<br />r ^G EXPiRES 1� -�
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