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MO'R'TGAGE—Savings. and Loan .Form=(Direct Credit Plan) 255.2 (Special)
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<br />MORTGAGE
<br />Loan -No
<br />THIS INDENTURE, -made thio
<br />21st St dal• of � r I I 6—Mbyand between
<br />FRED F. MEHRING AND.HELEN M. MEHRING, His Wife and DONALD D. MEHRING AND REBECCA L.
<br />3 MEHRING, His Wife and NANCY ANN ERWIN AND LAUREN A.-ERWIN, Her Husband,
<br />Of Hal I County, Nebraska, an mortgagor_.5 and Home Federal Savings and Loan Association of Grand Island,
<br />a corporation organized anti existing under the 'Iowa of Nebraska with its principal office and place of business at Grand Island, Nebraska, ;
<br />as "mortgagee;
<br />WITNESSETH: That said mortgagor -2— for and in consideration of the num of
<br />EIGHTEEN THOUSAND AND NO/100-------------------- ------------------- Mallars (s I8 000.00 ),
<br />the receipt of which is hereby" acknowledged, do_ by .hese 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 I I
<br />and State of Nebraska, to -wit:
<br />PART OF•BLOCK ONE (1) IN CONESTOGA NORTH SECOND -SUBDIVISION IN THE CITY OF
<br />GRAND ISLAND, NEBRASKA MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING
<br />AT THE SOUTHWEST CORNER OF CONESTOGA NORTH SECOND SUBDIVISION IN THE CITY OF
<br />GRAND ISLAND, NEBRASKA THENCE RUNNING NORTHERLY ALONG AND UPON THE WESTERLY
<br />LINE OF SAID SUBDIVISION A DISTANCE OF TWO HUNDRED TEN (210) FEET; THENCE
<br />RUNNING EASTERLY PARALLEL TO THE SOUTHERLY LINE OF SAID SUBDIVISION A DISTANCE
<br />OF TWO HUNDRED TWENTY FEET (220');'•THENCE SOUTHERLY PARALLEL WITH THE WESTERLY
<br />LINE OF SAID SUBDIVISION A DISTANCE OF 210' TWO HUNDRED TEN FEET TO THE
<br />SOUTHERLY LINE OF SAID CONESTOGA NORTH SECOND SUBDIVISION; THENCE WESTERLY
<br />ALONG AND UPON THE SOUTHERLY LINE OF SAID SUBDIVISION A DISTANCE OF TWO HUNDRED
<br />'TWENTY FEET -(220') TO THE POINT OF BEGINNING.
<br />SUBJECT TO A PRIOR MORTGAGE IN THE ORIGINAL AMOUNT OF $150,000.00, IN FAVOR
<br />OF HOME FEDERAL SAVINGS AND LOAN ASSOCIATIONOF GRAND ISLAND RECORDED IN BOOK 166,
<br />PAGE 667, OF THE MORTGAGE RECORDS OF HALL COUNTY, NEBRASKA.
<br />Together with all heating, lighting, and plumbing equipment and fixtures, including stokers and burners, screens, awnings, storm windows
<br />C and doors, and window shades or blinds, used on or in connection with said property, whether the sameare now located on said property
<br />or hereafter placed thereon.
<br />TO HAVE AND TO HOLD THE SAME, together with all and singular the tenements, hereditaments and appurtenances therounto belong-.
<br />Ing, or in anywise appertaining, forever, and warrant the title to the same. Said mortgagors_ hereby covenant_ with said mortgagee
<br />that _t_he.y__ are at the delivery hereof, the lawful owners of the premises above conveyed and described,- and a rP
<br />seized of a good and indefeasible estate of inheritance, therein, free and clear of all encumbrances, and that 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 />EIGHTEEN THOUSAND AND NO/ 100 -------------------------------------Dollars (s 18+000.00 >,
<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 mortgagors_ to said mortgagee, payable
<br />as alresaed in said note, and to secure the performance of all the terms and conditions contained therein. The terms of said note aro
<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_L_ 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 in full with interest.
<br />The mortgagor_5_ 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 />therefrom 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 aseignment shall continuo in force until the unpaid balance of said note is fully paid. The taking of possession hereunder shall in no
<br />manner prevent or retard said mortgagee in 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 a 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 mortgagors shall cause to be 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 mortgagor—.5— shall comply with all the provisions of said note and of this mortgage, then these presents shall be void;
<br />i 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. Approisement waived.
<br />enure to the benefit of the heirs, executors, administrators, successors and assigns of
<br />This mortgage shall be binding upon and shall
<br />the respective parties hereto.
<br />IN WITNESS WHEREOF, d Mortgagor Sesta Ve ereunto set their hand_ the day and year iirat.above
<br />written. ?��yyL�� �� v �4
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