|
MORTGAGE—Savings and Loan Form -(Direct Credit Plan) 255.2 (Special)
<br />MORTGAGE
<br />THIS INDENTURE, made this day of
<br />GARRY L. WILLIAMS AND JEANNE S. WILLIAMS
<br />Loan No
<br />1 by and between
<br />each in his and her mm
<br />right'and as spouse of the other
<br />Of Hall County, Nebraska,•as mortgagor -IL 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 />has mortgagee;
<br />WITNESSETH:: That said mortgagor S , for and in consideration of the sum of
<br />T14ENTY FOUR THOUSAND 'AND NO/ 100--- . Dollars (5 24, 000.00 )
<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 Hall
<br />and State of Nebraska, to -wit:
<br />LOTS ONE (1) AND TWO (2), IN BLOCK TWENTY-THREE (23), IN PACKER -AND
<br />BARR'S SECOND ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />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 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 Th'E' SAME, 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 mortgagors hereby. covenant_ with said mortgagee
<br />that —Lro V are at the delivery hereof, the lawful owner—i 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 oto 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 socure the payment of the sum of
<br />TWENTY FOUR THOUSAND AND NO/100----------------------------------'Dollars(5 24,000.00 ),
<br />with interest thereon, together with such charges and adv cos 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 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 />mortgagor & 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 8 hereby assign to said mortgages 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 dofault,'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 promiums, 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 is fully paid; The taking of possession hereunder shall in no
<br />manner prevent or rolard 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 mortgagorS , shall comply with all the provisions of said note and of this mortgage, then theso 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 rapresented 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. Appraisoment 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 ha Ve hereunto set their. hand S the day and year first above
<br />written.
<br />Ga ry L Wil ams
<br />anne i Tams
<br />
|