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MORTGAGE—Savings and Loan Form --(Direct Credit Plan) 255-2 (Special)
<br />MORTGAGE
<br />0. 1 Or,: 3 5
<br />Loan.No
<br />THIS INDENTURE, made this 8th''' day of Onfob�r 19 �5!
<br />by.and between
<br />RICHARD H. BAASCH AND ARLENE M. BAASCH, husband and wife, each in his and-h"er oim righ
<br />and as spobse of the other
<br />Hall
<br />of ounty, Nebraska, as mortgagor -L and Home Federal Savings and.Loan Association of Grand Island,
<br />a corporation org anizod and existing under the laws of Nebraska with its principal office and place of business at Grcmd Is land, Nebraska,
<br />as mortgagee;
<br />WITNESSETH: That said mortgagor_�_ for and in consideration of the sum of
<br />-THIRTY FOUR THOUSAND AND N01100 ----------------------------------- Dollars (s 3413060.00
<br />the receipt of which is hereby acknowledged, do— by those presents mortgage and warrant unto said mortgagee, i : ts 'successors and
<br />assigns, forever, all the foliowing described real estate, riivated in the county of Hall
<br />and State of Nebraska, to -wit:
<br />LOT FIFTEEN (15) IN-DIPERIAL VILLAGE -THIRD SUBDIVISION, CITY OF'
<br />GRAND ISLAND, HALL CQUNTY, NEBRASKA.
<br />Together with all heating, lighting, and plumbing equipment and fixtures, including sto'
<br />kers and bumdrs, screens own, gs, storm windows
<br />' ' tZ
<br />and doors, and window shades or blinds, used on or,in connection with said property, whether the same are now loca on said property
<br />or hereof ter placed thereon.
<br />TO HAVE AND TO HOLD THE SAME, together with all and singular the tenements, horeditaments.and appurtenances therounto belong-
<br />ifig, or in anywise appertaining, forever, and warrant the title to -the same. Said mortgagor__�_ hereby covenant with'said mortgagee
<br />that __t_hoy are
<br />at the delivery hereof,'the lawful owncr.�__ of the premises abov"p conveyed and described, and arP
<br />seized of a good and indefeasible estate of inheritance' therein, free and clear of all encumbrances, and that --t—he V iwi:'l'l warrant and
<br />defend the title thereto forever against the claims and demands of all persons whomsoever.
<br />PROVIDED ALWAYS, and this': instrument is ox . ecuted and delivered to secure the payment of the'sum of
<br />THIRTY FOUR THOUSAND AND NO/100-7 ------------------------ I ------- ;.-- "
<br />-Dollars (S '14,000-00
<br />with interest thereon, together with 'such charges and-advances.as rr�ay be due and payable to said mortgagee und6r the terms and
<br />conditions of the promissory note of even date herewith and secured hereby. executed -by said mortgagor_.�_ to said njortgagoo,'payable
<br />as expressed in said note, and to secure the performance of all the to.hns and conditions contained therein. The terms �of said note are
<br />hereby incorporated herein by thiejeference.
<br />It is the intention and agreement of the parties hereto that 4his mortgage shall also secure any.' future advances ma . do to 'said
<br />mortgagor_�L_ by 'Said mortgagee, 'and any and all' indebtedness iri , addition to the amount above stated which . said ni i ortgagors, or, any
<br />of them, may owe to said mortgagee, however avid6c6d, whether by note, book account or otherwise..' This mortgage shall remain in full
<br />force and effect between the parties hereto and theit heirs, personal; representatives, successors and assigns, 'until all! amounts secured
<br />.hereunder. including future advanceq, are paid in full with interest.
<br />The mortgagor__�L_ hereby assiign— to said mortgagee all renis and income arising at any and all times from sla 1 d property and
<br />hereby authorize said mortgagee oi its agent, at its option, upon default, to tQke charge of said prope�ty and collect all! r6nts and income
<br />therefrom and apply the same to thT payment of interest, principal, insurance premiums, taxes, assessm6hts, repairs or improvements neces.
<br />sary to keep said property in tenantable condition, or to other charges or payments provided for hereln'or in the note hereby'socured. This
<br />rent assignment shall continue in force until the unpaid balance of said note is fully paid. The taking of possession her6under shall in no
<br />manner prevent or retard said mort�agee in the collection of said suffis by foreclosure or. otherwise.
<br />The failure of the mortgagee t� assert any o� its rights hereunder at any time shall not be construed as a w iver 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 piovisions ol sald,n6to *and of this
<br />mortgage.
<br />If said mortgagor S shall ccn �5e to be paid to said mortgagee the entire amount due it hereunder, and under the te'ims'and provisions
<br />of said note hereby se'cured, includinq future advances, and any extensions or renewals thereof in accordd�ce with the torms, and provisions
<br />t6reof, and if said morlgagor_�� shall comply: with all the provIsIoni of said note and of this mortgage.; then these prese , nts 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 annurpi. Appraisement waived.
<br />This mortgage shall be binding' upon and shall enure to the benefit of the heirs, executors, adminiArators, successofs and assigns of
<br />the respective parties hereto.
<br />IN WITNESS WHEREOF, said Mortgagor �_ha V hereunto s6 their band S the day and year first above
<br />written.
<br />Ricbard H.-Baasch
<br />-.Arlene M. Baasch
<br />
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