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MORTGAGE --Savings . and Loan: Form -(Direct Credit, Plan),. 255.2 (Spedal)
<br />MORTGAGE
<br />`"1 U Loan No
<br />6th f May 19 75 ' by and between
<br />THIS INDENTIIRE, made this day o
<br />WILLIAM J. LANDIS AND MARGARET ANN LANDIS, husband,and wife each in his and her own
<br />right and as spouse of the other
<br />Of HALL County, Nebraska, as mortgagor 5 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 />sum of
<br />FOURT EN
<br />WITNESSETH:
<br />THOUSAND FOUR HUNDRED AND NO/ Isof the
<br />00----ideration ------------------ 14,400.00
<br />Dollars
<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 HALL
<br />and State of Nebraska, to -wit:
<br />THE SOUTH SIXTY-NINE AND ONE TENTY (S 69.1) FEET OF LOT FOUR (4),
<br />BLOCK ELEVEN (11), IN CLAUSSEN COUNTRY VIEW ADDITION, AN ADDITION
<br />TO THE CITY OF GRAND ISLAND, NEBRASKA.
<br />Together with all heating, lighting, and plumbing equipmont and fixtures, 'including stokers and burners, screens, awnings, storm windows
<br />and doors, and window shades or blinds, used on or in connection with said property, whether the same are now located' on said property
<br />or hereafter placed thereon.
<br />TO HAVE AND. TO HOLD THE SAMA, together with all and singular the tenements, hereditaments and appurtenances- thereunto belong-
<br />ing, or in anywise appertaining, forever, and warrant the title to the same. Said mortgagor —H— hereby covenant_ with said mortgagee
<br />that _ate Y are at the delivery hereof, the lawful owner S of the premises above conveyed and described, and are
<br />seized of a good and indefeasible estate of inheritance therein; free and clear of all encumbrances, and that — t—h.y -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 tho'sum of
<br />FOURTEEN THOUSAND FOUR HUNDRED AND NO/100------------------------Dollars (S 14.p400•.00 ),
<br />with interest thereon, together with such charges and advances as may be, duo 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— to said mortgagee, payable
<br />as expressed in said note, and to secure the performance of all the terms and conditions contained therein. 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 />mortgagors by said mortgagee, and any and all indebtedness in addition to tho.amount above stated which said mortgagors, or any
<br />of them, may owo 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 S 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 herelwor in the note hereby secured. This
<br />rent assignment shall continue 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 mortgagor s— 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 mortgagor5 shall comply with all the provisions of said note and of this mortgage, then these presents shall be void;
<br />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. Apprafsement 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 WHEREOF, said Mortgagors_hn Ve hereunto set their hcmAS the day and year first above
<br />written
<br />W i I I amain J. LandiAA s
<br />Margaret Ann Landis
<br />
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