|
MIC1101711.14111)
<br />Piled
<br />-in Book- I'le,
<br />, TG
<br />009,1 Pdge_� Z��
<br />J Fisher,- Register of Deedd,
<br />p
<br />MORTGAGE H211 Cai - 3ntir_ X t;br-n rzks;
<br />MORTGAGE LOAN N' L DR2 6 MGIC
<br />0
<br />KNOW ALL MEN BY THESE PRESENTS: That Gregory N. Drum and Denette F. D�um, each in his and -
<br />r
<br />her own'Hghtand as spouse of each.,other, . Mortgagor, whether one or more, in consideration of the sum Of
<br />Twenty-five Thousand Eight Hundred Fifty and No/100 --------- ---------------------- DOLLARS
<br />loaned'to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 258 shares of stock: of
<br />said ASSOCIATION, Certificate No L do I ereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />f, C 02
<br />u�82
<br />described real 'estate, situated in Ha t y 1 §1 e Pi '51 a':
<br />LOT.FOUR (4), IN BLOCK TWO (2), IN UNIVERSITY
<br />PLACE, AN ADDITION TO THE CITY OF GRAND ISLAND
<br />a
<br />IN HALL COUNTY, NEBRASKA.
<br />together with all the tenements, liereditaments 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 s hall 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 2 5 8 50. 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 ' a , bout 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 colleding tile 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 tile discharge of said mortgage indebtedness; these rights of the mortgagee may be exercised at any time during tile existence of such
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, That 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 tile Bond secured I , icreby as interest and principal on said loan, on or before
<br />the Twentieth day of each and every month, until said loan is fully paid; pay all taxes and assessments levied against said premises and on this Mortgagp
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon tile buildings thereon in the sum of S 2 5 8 50. 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 rate thereon from date of payment all of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep.and comply
<br />with all ti . i . e agreements and conditions of the Bond for S 25 850. 00 this day given by the said Mortgagor to said ASSOCIATION, and comply�
<br />with all the requirements of tile Constitution and By -Laws o? said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shall remaiii 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 />p�ymcnts 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 tile 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 any additional advances made thereunder, shall, from the
<br />date of exercise of said option, bear interest at tile 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 charges, with interest thereon, from date of payment at the makimum
<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 tile 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 this day of .2,rk 1�75- A. D., 19
<br />kn
<br />Grego"ry(N. Drum Denette F.. Drum
<br />STATE OF NEBRASKA,� ss' On this 15th day of September ig 75 before me,
<br />COUNTY OF HALL
<br />N under§igped, a Notary Plibtic in and for said County, personally cpme
<br />Gregory N. Drum and Denette F. Drum, each in-hi's and her own right and as spouse of each
<br />other, who are personally known to
<br />me to be the identical. . person S whose name s are affixed to the above instrument as mortgagor S and they, severally
<br />... acknowledged -the- d�,ips, heir voluntary act and deed.
<br />,__!rup
<br />17'IiA . ( LS
<br />WITNESS , I d? otariiii Seal the date aforesaid.
<br />111Y
<br />My Cbmmiskioh-e��ikes
<br />-Zxpires 4!:�
<br />Lmber 12,'19A)., Notary
<br />('10V
<br />7
<br />
|