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MORTGAGE—Savinas and Loan Form—(Direct Credit Plan) 255-2 (Special)
<br />0 0 3• 2 s MORTGAGE '��Fo
<br />Loan No
<br />THIS INDENTURE, made this 22nd day of August 1975 , by and between
<br />PHILLIP J., ZELLER, JR. AND BARBARA L. ZELLER, husband and wife, each in hi's arid'her
<br />own right'•and as spouse of the other,
<br />,of HALL; County, Nebraska, as mortgagor—Sx, 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 S , for and in consideration of the sum of
<br />FORTY=EIGHT THOUSAND FOUR HUNDRED -AND NO/100----------=----------- nollars (S 48,400.00 ),
<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 1
<br />and State of Nebraska, to -wit:
<br />LOT TWENTY-ONE (21), IN HIDDEN LAKES SUBDIVISION NUMBER TWO, BEING',
<br />A:PART OF THE SOUTHEAST.QUARTER OF THE NORTHEAST QUARTER (SEwNEµ)
<br />.AND A PART OF THE NORT.H.HALF OF THE NORTHEAST.QUARTER OF THE SOUTHEAST
<br />QUARTER (NZNEµSEµ) OF SECTION 13, TOWNSHIP II -'NORTH, RANGE 9 WEST OF
<br />THE 6TH P.M. IN 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, hereditaments and appurtenances thereunto belong-
<br />ing, or in anywise appertaining, forever, and warrant the title to the same. Said mortgagor 5 hereby covenant_ with said mortgagee
<br />that __LhoY a 1-e at the delivery hereof, the lawful owners of the premises above conveyed and described, and @ re
<br />seiied of a good and indefeasible estate of inheritance•- therein. free and clear of all encumbrances, and that t ho_�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 payment of the sum of
<br />FORTY-EIGHT.THOUSAN'D FOUR HUNDRED.AND NO/100------------ ---------hollars(S 48,400.00
<br />with interest thereon, together with such charges and advances as may be due and . payablo to said mortgagee under, the terms and
<br />conditions of the promissory note of even date herewith and secured hereby, executed by said mortgago:5 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 aro
<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_S_ 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 S hereby. assign to said mortgagee all rents and income arising at any and all times from said property and
<br />hereby authorize satd. 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 laking 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 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 securedi 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, admigistrators, successors' and assigns of
<br />the respective parties`hereto.
<br />IN WITNESS WHEREOF, said Mortgagors _ha V hereunto set the i r ' bandg the day and year first above
<br />written. ��`� C� ����,, •
<br />Phillip JZeller; Jr.
<br />L 2 Y) �-
<br />ar aro L. Zeler,
<br />
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