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MORTGAGE—Savings and Loan Form—(Direct Credit Plan) 2$5.2 (Special)
<br />MOOGAGE ICROfIUdED
<br />I Loan No
<br />THIS INDENTURE, made this 30th day of Jul �/ 19 %5 by and'hetween
<br />MELVIN K. PATTERSON AND DOREEN P. PATTERSON, husband and wife, each in his and her
<br />own right and as spouse of the.other,
<br />Of Ha I 1 County, Nebraska, as mortgagor, 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 />WITNESSETH: That said mortgagor 5 for and in consideration of the. sum of
<br />TWELVE THOUSAND AND NO1100-------------------------- -------------- ouars (s-I?,L1P0 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 Ha I l
<br />and State of Nebraska, to -wit:
<br />LOT TWENTY (20) IN BUENAV I STA SUBDIVISION OF APART OF THE NORTHWEST
<br />QUARTER (NW -40 OF SECTION TWENTY TWO (22) IN TOWNSHIP ELEVEN (II)
<br />NORTH, RANGE NINE (9) WEST .OF THE 6TH P.M.., BEING IN THE CITY OF
<br />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 THE SAME, together, with all and singular the tenements, hereditamentsand appurtenances thereunto belong-
<br />ing, or in anywise appertaining, forever, and warrant the title to the same. Said mortgagor c.. hereby, covenant— with said mortgagee
<br />that —1—h. Y_ are at the delivery hereof, the lawful owners 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 he 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 the, sum of
<br />TWELVE THOUSAND AND NO/100----------- ----------- ---------------- -nollam (s 12,000.00 )
<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 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 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 partieshereto 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 mortgagors_ horeby.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 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. tho 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 mortgagor S 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. Appraisement 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* Mortgagor -have hereunto met the i r hand=5:--1he `land year first above
<br />written. / \
<br />'Melvin K. Patterson
<br />oreen. a erson
<br />
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