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Filed for recorrr� 2Zat Bo a .
<br />r, of �-
<br />deanFisher, Register:of Deeds 4
<br />MORTGAGE
<br />Hall County, Nebraska
<br />MORTGAGE LOAN N0. L 21,790
<br />KNOW ALL MEN BY THESE PRESENTS: That Gene A. Olsen and Geralyn J. Olsen, each in:.his, and her
<br />own right and as spouse of each other, Mortgagor, 'whether one or more, in consideration of the sum of
<br />Eighteen Thousand and No/100=-------=---------------------------------------------=DOLLARS
<br />loaned to said mortgagor by The Equitable Building and Loan. Association of Grand Island, Nebiaska, Mortgagee, upon 180 . ' shares of stock of
<br />said ASSOCIATION :Certificate No. L 21 ,790 ; do hereby grant, convey and.:mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />THE EAST HALF OF THE NORTH HALF (E %) OF LOT
<br />EIGHT (8), AND THE. SOUTH TEN (10) FEET OF THE c9o��'Fo
<br />EAST HALF (EZ) OF,LOT SEVEN (7), IN VANTINE'S
<br />SUBDIVISION, LOCATED ON PART OF THE NORTHWEST
<br />QUARTER (NW4) OF'SECTION TWENTY-TWO (22), IN
<br />TOWNSHIP ELEVEN (1.1) NORTH, RANGE NINE (9) WEST
<br />OF THE SIXTH P.M: .
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached' floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air conditioning,"and plumbing and water equipment and accessories thereto, pumps, stoves,
<br />refrigerators, and other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And whereas the,said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessments levied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to -furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 18 '000. 00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance; and not to commit or permit any waste on or about said premises;
<br />In case of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee shall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />mortgagee all "the rents, revenues and income to be derived.from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said premises and renting
<br />the same and collecting the rents, revenues and income, and it may pay out. of said income all. expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness;" these rights of the mortgagee may be exercised at any time during the existence of such
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, Thai if the said Mortgagor shall. repay said loan on or before the maturity, of said shares by
<br />payment; pay monthly;to. said ASSOCIATION of the sum'specified in the Bond secured hereby. as interest and principal on said loan, on or before
<br />the Twentieth dayof eacli.and every month, until said loan is fully paid; pay all taxes and assessments levied against said premises and on this Mortgage
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 18,00'0.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insurance with interest at
<br />the maximum legal ratethereon from date of payment all of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep and comply
<br />with all the agreements and conditions of the Bond for S 18 i 000. OO this day given by the;said Mortgagor to said ASSOCIATION•, and comply
<br />with all the requirements of the Constitution and By -Laws of said ASSOCIATION; then these presents shall become null and void; otherwise they
<br />shall remain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months .to make any of said
<br />payments or be three months in arrears in making said monthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings.
<br />If there is any change in ownership of the real estate mortgaged herein, by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, at the option of The Equitable Building and Loan Association of Grand Island, Nebraska, become immediately due and payable without
<br />further notice; and the amount remaining due under said bond, and any other bond for anyadditional advances made thereunder, shall, from the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<br />bond, and any other bond for additional advances, together with all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting extension cliarges, with interest thereon, from date of payment .at the maximum
<br />legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, their assigns or successors in interest, which sums shall be within the security of this mortgage the same as tlic funds originally
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />Dated tli•s, 2.7th day of August. D., 1975 l
<br />ene A. Olsen Gera yn J. sen
<br />STATE OF NEBRASKA, ss.
<br />On this 27th day of
<br />August
<br />ig 75 , before me,
<br />COUNTY OF HALL
<br />the undersigned,
<br />a Notary Public
<br />in and for said County, personally came
<br />Gene A. Olsen -and Geralyn
<br />J. Olsen, each in his and
<br />her own right
<br />and as spouseof each
<br />other
<br />who are personally known to
<br />_
<br />me to be the. identical person S whose name s; --t a re a 'NL affixed to the above instrument as mortgagor g and. they severally
<br />acknowledged the said instrument to be
<br />their voluntary act'and deed.
<br />WITNESS my hand and
<br />My Commission expires
<br />Notadal,Seal'the date0oresaid.
<br />U) !l
<br />.
<br />Notary Public
<br />3.73-2M
<br />4g o Y
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