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,.MORTGAGE—Savings and Loan Form—Mirect Credit Plan) 255-2 (Special)
<br />y MORTGAGE 14ICROFILMEOr
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<br />Loan No
<br />THIS INDENTURE, made this 7th day of August 19`75 by and between
<br />JON A. BAKER AND -SHARON L. BAKER, husband and wife, each in his and her own -right and
<br />as spouse of the other
<br />Of Hall.County, Nebraska,'as mortgagor 3 and Homo'Foderal 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 Grana Island, Nebraska,
<br />as mortgagee; _
<br />WITNESSETH: That said mortgagor_S for and in consideration of the sum of
<br />NINETEEN THOUSAND SIX HUNDRED AND NO/100---------------------------Dollars (5 19,600.00
<br />the receipt of which is hereby acknowledged, do_ by these presents mortgage and warrant unto said morlgageo,. 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 SOUTHERLY SIXTY-ONE (61) FEET OF LOT FOUR (4). IN BLOCK EIGHT '
<br />(8) ORIGINAL TOWN, NOW CITY, OF GRAND ISLVD, 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 properly
<br />or hereafter placed thereon.
<br />TO HAVE AND TO HOLD THE SAME, together with all and singular the tenements, hereditaments and appurtonanges thereunto belong-
<br />ing, or in anywise• appertaining, forever, and warrant the title to the same. Said mortgagor S_ hereby covenant_ with said mortgagee
<br />that they, are at the delivery hereof, the lawful owner --L 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 they_• 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 />NINETEEN THOUSAND SIX HUNDRED AND NO/100---------------------- - ollars (S. 19,.600.00),
<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 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 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 own 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 mortgagors hereby assig* 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 mortgageo 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 3 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 forco'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 represonted 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% par annum. Appraisemont 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 rospectfvo parties hereto.
<br />IN WITNESS WHEREOF, said Mortgagor S_ha - Vehereunto sat ,their hand S the day and year first above
<br />written.:
<br />JUN
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