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MORTGAGE -Savings and Loan
<br />Form=(Direct Credit Plan) 255-2 (Special)
<br />MICROFILMED
<br />008851 : MORTGAGE,
<br />Loan No
<br />.THIS INDENTURE, made this day ai August 'IS by and between
<br />EUGENE L. STOUT AND LILA F. STOUT,:`husband and wife, each*,.in his and her own right- _
<br />and •as spouse of the other, '
<br />Of Ha I I 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, for and' hi consideration of the sum of
<br />SIXTEEN THOUSAND AND NO/100--=-=-------------------------=----- nollars (S I6,000_.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 Ha
<br />and State of Nebraska, to -wit:
<br />THE SOUTHERLY SIXTY FEET (601) OF LOT FIVE (5) IN BLOCK FIFTEEN
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<br />(15) , I.N CHARLES ; `WASMER' S ADDITION TO THE CITY OF :GRAND ''ISLAND, HALL
<br />COUNTY, NEBRASKA.
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<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 bliitds,'used on or in'connection with said property, wh©then the. same are now located. on said properly
<br />or hereafter placed thereon. 7
<br />TO HAVE AND TO HOLD THE SAME, together with • all and singular the tenements, herb ditaments and appurtenances .thereunto belong -
<br />Ing, or in anywise appertaining, forever, and warrant the title to the same. Said mortgagors I hereby, covenant_ with, said mortgagee
<br />that oto a r@ cf the; delivery'heieof, the lawful owners of the' premises' above conveyed and described„ and a rA
<br />seized of a good and indefeasibleestate' of inheritance theroin, free and clear of all encumbrances,• and' that t he --)L_ 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 paymontof',tho°sum of
<br />C I XTEui THOLIS'Awo ANA -A1 / 1 M____________________________________'pollars (S I �,�eO,eB ),
<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 S 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�heroto that this mortgage shall also socuro 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 mortgagoe; however evidenced, whether by note, book account;or16therwfse.:' This mortgage shalI'romain in full
<br />force. and effect between: the parties heroto 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_ 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, taxea,? 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 mortgageoito assert any of its -rights hereunder at any time shall notjie 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 mortgagors_ 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 5 --ha 'Ve. hereunto ■et: the i r , lend the day, and year first above
<br />written.
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