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:Ln Book
<br />Fi recol"4,/,�e/P07at
<br />009972 of=a4&a2 PaG-e
<br />a Register.of Deeds,
<br />MORTGAG . E Hall County, Nebraska
<br />MORTGAGE LOAN NO.
<br />KNOW�-ALL MEN BY THESE PRESENTS: That Larry C. Shanks and Glenda S. Shanks, each -in his and
<br />her own right and as -spouse of each other, Mortgagor, whether one or more, in consideration of the sum 'of
<br />Twenty-one Thousand Seven Hundred and No/100 --------------------------------------- DOLLARS
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 217 shares of stock of
<br />said ASSOCIATION, Certificate No. L 21 840 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in.liall County, Nebraska:
<br />LOT SEVEN (7) IN BLOCK TWENTY'-'NINE
<br />(29) IN PACKER & BARR'S SECOND ADDITION
<br />TO THE CITY OF GRAND ISLANDi,HALL
<br />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 />reftigerators, 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 sliall 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 21 7 00. 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 conditiohs of this mortgage or the bond secured hereby, the mortgagee sliall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to tile
<br />mortgagee all the rents, revenues and income to be derived from tile 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 tlic� discharge of said moftgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence ofsuch
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor sliall repay said loan on or before the maturity of said shares by
<br />payment; pay nigntlily 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 day 6f each 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 secuied thereby, before delinquency; furni - sh approved insurance upon tile buildings thereon in tile sum of S 21 700. 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 i to pay; permit no waste on said premises; keep and comply
<br />with all the agreements and conditions of the Bond for S. 21 700 . 00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all tile requirements of tile Constitution and By -Laws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />sliall remain in fuil force and- may be foreclosed at the option of tile 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 aily change in ownership of the real estate mortgaged herein, by sale o r * otherwise, then the entire remaining indebtedness hereby
<br />secured sliall; at tile option of The Equitable Building and Loan Association of Grand Isl3nd, Nebraska, become immediately due and payable wi , thout
<br />further notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, sliall, 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 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 sliall be within the security of this mortgage the same as the 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 26th day of September A/.�., 19 7 5
<br />LarryUC. Shanks Glenda S. Shanks
<br />STATE OF NEBRASKA, ss. On this 26th day of September 1975 beforeme,
<br />COUN'.
<br />tI e jinders9i a Notary Public ' ndfojsaid County Eersonflly came
<br />Larry,C. Shanks and Glenda S. Shanks, ez S a er own as sp to e o
<br />each other, who are . personally known to
<br />me to be the identical persons whose names -A � e I- GaffIxed to the above instrument as mortgagor S and they severally
<br />acknowledged the said instrument to be - thei V.,.
<br />WITNESS my hand and Notadil Se'a,l:the date aforesaid. cj)'�'),
<br />My Commission expires
<br />Notary Public
<br />3-73-2M
<br />7.
<br />C 01c,
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