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MICROFILMED
<br />-//I -�,Zjr / & / - ( 'I
<br />_LU (q 0 F, _e, C pa�-e
<br />MORTGAGE Jeazr1isher,Re-i,s.,er.of
<br />MORTG W'N'05
<br />ZE L6A
<br />Ki�OW AUMEN BY THESE PRESENTS: That Robert G. Sears and LuAnne G. Sears, each-in..his and her
<br />own right and as spouse of each other,
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Five Thousand and No/100 -------------------------------------------------------- -
<br />DOLLARS
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 50 shares of stock of
<br />said ASSOCIATION, Certificate No. L 21850 do'liereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lot Three (3), Wiese Subdivision, City of
<br />Grand Island, Hall County, Nebraska. -
<br />Subject to a.prior mortgage to the mortgagee herein in the principal amount
<br />of $17,500.00 Dated May 30, 1975.
<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, licating, 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 tile mortgagor shall 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 § , 000 . 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 conditioris 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 tile 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; tile- balance remaining, if any, to be
<br />applied toward the discharge of said inorfgage indebtedness; these rights of the mortgagee may be exercised at any time during tile existence ofsuch
<br />default, irrespective' of any temporary waiver of the sam6.
<br />These Presenits, 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 s * um specified in the Bond secured hereby as interest and principal on said loan, on or before
<br />the Twentieth day of cdcli 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 secilred thereby, before delinquency; furnish approved insurance upon the b.uildings thereon in the sum of S5 , 000 . 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 a.11 of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep and cor�ply
<br />with all the agreements and conditions of the Bond for s 5 , 00 0 . 00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requifements of the Constitution and By -Laws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shall remain 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 />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 any change in ownership of the real estate mortgaged herein, by sale or.otherwise, then the entire remaining indebtedness licrpby
<br />secured shall, at the option of The Equitable Building and Loan Associatibn of Grand Ish-jid, 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 the 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 Isla . nd,
<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 shall 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 />Date this I)Oth day of October A D 197
<br />I -C
<br />Y -ars
<br />KoDert G. e LuAnne G. Sears
<br />STATE OF NEBRASKA, ss On this I Oth day of October 1975 before me,
<br />COUNTY OF HALL
<br />the undersigned, a Notary Public in and for said County, personally came
<br />Robert G. Sears and LuAnne G. Sears,each in his and her own
<br />right and as spouse of each other--`--_"',
<br />me to be the identical person S whose nami s affixdd to
<br />acknowledged the said instrument to be t h 6i'r `ict'aridl'd
<br />�. ." I r) e /
<br />WITNESS my hand and Notaflil Seal the)dawaforeskid.
<br />My Commissio� expires
<br />7
<br />3-73-2M . ........
<br />b%" OF E0,_z�
<br />who are personally known to
<br />the above instrument as mortgagorS and they severally
<br />-ed.
<br />Notary Public
<br />1(,:5,1
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