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MORTGAGE—Savince arld Loan torm--(Direct Credit Plan) 2SS.2' (Soadal)
<br />010070
<br />THIS INDENTURE, made this 26th
<br />MORTGAGE -
<br />Loan a
<br />Of September . 1 1915 by and.bet.ween
<br />RONALD :1. LUDWIG*AND CHERYL J. LUMIG, husband and wife, each in his and her own
<br />right'and as spouse of the other,
<br />Of ' � Ha I I —County, Nebraska * as mortgagor S , and Home Federal Savings and Loan Association of Grand Island,
<br />a corporation organized and existing under the laws o; Nebraska with Its principal office and place of business at Grand Island, Nebraska,
<br />as mortgagee;
<br />WITNESkTA: That said mortgagor__�_ for and in consideration of the sum of
<br />ELEVEN THOUSAND EIGHT HUNDRED AND NO/100 ------------- : -------------- Dollars (S I I nn -nn
<br />the receipt of which is hereby acknowledged, do—by these presents mortgage and warrant unto said mortgagee, its successors,culd
<br />Ha I I
<br />assigns; forever, all the following described real estate, situated in the county of
<br />and State of Nebraska, to -wit:
<br />LOTS NINE (9) AND TEN .00) IN BLOCK FOUR (4� IN GILBERTfS ADDITION
<br />TO THE CITY OF GRAND I-SLAND, NEBRASKA.
<br />Together with all heating, lighting, and plumbing equipment and fixtures, including stokers cmd bumers, screens, awnings, stormwindows
<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 1, hereby covenant with said mortgagee
<br />that t bo__)�_ at the delivery hereof, the lawful ownerS_ of the premises above conveyed and described, and 8 pe
<br />seized of a good and indefeasible estate of inheritance therein, free and clear of all encumbrances, and that t ho-*_ 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 />ELEVEN THOUSAND EIGHT HUNDRED AND NO/100 ------------------------- ITnIlars (s 1 1,800.00
<br />with interest thereon, together with such charges and advances as may be due- 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 mortgagor_�_ 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. are
<br />hereby incorporated herein by this reference.
<br />It is the intention and agreement of the parties hereto that this mortgage shal ; I also secure any future advances made to - said
<br />mortgagor S. by said mortgagee, and any and all indebtedness in addition to tho amount above stated which said mortgagors, 6r.any
<br />of them, may owo 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 incomp arising at any and all times 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, insurancb 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. Tills
<br />rent assignment shall continue in force until the unpaid balance of said note is fully paid. 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 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 mortgagor_�_ 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 term cmd 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 foreclbse 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, administrators, successors and assigns of
<br />the respective parties hereto.
<br />IN WITNESS WHEREOF, said. Mortgagor S --have hereunto set their hand S the day and year first above
<br />written. n
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