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MORTGAGE—Savings and Loan Form—(Direct Credit PlanY 255.2 (Special)
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<br />�' MORTGAGE MICROFILMED
<br />L! 0 i� 51 CJ n Loan No
<br />THIS INDENTURE, made this 18th day of 19 79. by and between
<br />JERRY L. SCHULTZ AND LINELL S. SCHULTZ, 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 5 , and Homo 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 />EIGHTEEN THOUSAND AND NO/I00------- ----Tollars (S 18,000.00 )
<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 Hall
<br />and State of Nebraska, to -wit:
<br />LOT SIX (6), IN BLOCK FOUR (4) JOHN VOITLE'S ADDITION.TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Together with all heating, lighting, and plumbing equipment and fixtures, including, stokers and burners, screens, awnings, stormwindows
<br />and doors, and window shades or blinds, used on or in connection with said property, whether the same and now located on said propeity
<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 mortgagors hereby covenant— with said mortgagee
<br />that ale y are at the deliveryhereof, the lawful owner S of the a re '
<br />premiss above conveyed and described, and
<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 />EIGHTEEN THOUSAND AND NO/ 100------------------------------------ Dollars (5 18, 000. 00
<br />` )
<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 mortgagors to said rriorlgagee, 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 />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 represente:tfves, successors and assigns, until all amounts secured
<br />hereunder, including. future advances, are paid in full with interest.
<br />The mortgagor • G hereby assign to said mortgagee all rents and income arising at any and all limes 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 liaid. 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 lights 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 enforco strict compliance with all the 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 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. Appraisoment waived.
<br />This mortgage. shall be binding upon and shall enure to the benefit of the heirs, executors, administrators, succossora and assigns of
<br />the respective parties hereto.
<br />IN WITNESS WHEREOF, said Mortgagor S_ha Vehereunto not their, hand 5 the day and year first above
<br />written. A
<br />Jt0WL0SchqI
<br />Lin¢11. S. Schul
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