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Fil d for record
<br />Of Page 9E�
<br />Jean isher, Register of Deeds,yC� f
<br />Hall County, 1jebraska _.._
<br />MORTGAGE
<br />\\ ;MORTGAGE
<br />((N LOANNO. L ?1,563
<br />` KNOW ALL MEN BY THESE PRESENTS: That Reginald G. Phelps and Patricia L. Phelps, each in his
<br />V
<br />and her own right and as spouse of each Other, Mortgagor, whether one or more, in consideration of the sum of
<br />Thirty-nine Thousand Two Hundred and No/100-----------------------=-----------4---- DOLLARs
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 392 .: •shares of stock of
<br />said ASSOCIATION; Certificate No. L 21 ,563 ' , do hereby grant, convey and mortgage unto -the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />ALL OF LOT.FIVE (5) AND WEST TWELVE (12) FEET OF
<br />LOT FOUR -,(4), BLOCK FIFTY-TWO (52) SOF
<br />WASMER'S THIRD ADDITION TO THE
<br />TOWN, NOW CITY, OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA, ACCORDING
<br />TO THE RECORDED PLAT THEREOF,
<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 piy 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 />insuranceupon the buildings on said premises situated in the sum of S 39 , 200.00 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 the mortgaged premists 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 of the mortgagee may be exercised at any time during file 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 S3 9 , 200.00 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 39 200.00 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 td 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 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 extensioncharges, .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 tothe
<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 18th day of Apri 1 A.D., 19 75
<br />fnald G. Phelps Patricia.L. Phelps
<br />STATE OF NEBRASKA, On this da of 19 ,before me,
<br />• COUNTY OF HALL 1 Bth Y April 75
<br />the undersigned„a Notary Public in and for said County, personally came.
<br />Reginald G:. Phelps and.Patricia L: Phelps, each in his and her own right and as sppuse of
<br />each other, who are personal y known to
<br />me to fie the identical persons . whose name S are affixed to the above instrument as mortgagor S and they severally
<br />acknowledged the said instrument to be, their . voluntary act and deed.
<br />TNE§AMW§t;pd gwtblottari 1 Seal the date aforesaid.
<br />My Coritt€t�s t8n� ex 'ides', 3Y i
<br />State of txas:<a
<br />���y� a�• Mycomrmssi P1 _s •Notary Public' '
<br />37+ Novem ;'1 5
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