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MORTGAGE—Savings and Loan Form --(Direct Credit Plan) 25S.2 (Special)
<br />.03WIU0831K
<br />t MORTGAGE
<br />0.10290
<br />Loan No
<br />October 75
<br />THIS INDENTURE, made this 4th day of by and between
<br />THOMAS E. SEARSON AND JEANETTE M. SEARSON, husband and.wife, each in his and her own
<br />-right and as spouse of. the other,
<br />Of Hall County, Nebraska, as mortgagor_�1_-, and Home Federal Savings and Loi3n'Association of Grcmd Island,
<br />a corporation organized and existing under the laws 'of Nebraska with Its principal office and place of business at Grand Island, Nebraska,
<br />as mortgagee;
<br />WITNESSETH: That said mortgagor__�_ for and in consideration 61 the sum of
<br />THiRTY-FOUR THOUSAND SIX� HUNDRED AND NO/100--:
<br />-------------------- ollars (s 34 600. 00
<br />the receipt of which is hereby acknowledged, do— by these presents mortgage and, warrant unto said morigageo, its successors and
<br />assigns, forever, all the following des'cribed real estat I a, situated in tho'county of Hall
<br />and State of Nebraska, to -wit:
<br />THE NORTH THIRTY FEET (N301) OF LOT SIX (6) AND THE SOUTH*FIFTY-FIVE
<br />FEETI(S55') OF,LOT SEVEN 0), IMPERIAL VILLAGE SECOND SUBDIVISION, CI�Y'
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />a
<br />Together with all heating, lighting, and plumbing eciulpment and fixtures, including stokers and burners, screens, awnings. storm windows
<br />and doors, and window shades or blifids, 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 -2— hereby covenant with �said mortgagee
<br />that __t he y are at thc�delivory hereof,.the lawful owner�i_ of the premises above conveyed and described, and are
<br />seized of a good and indefeasible estt"ito of inheritance therein. free and clear of all encumbrances, and that —t --ho Y will warrant and
<br />defend the title thereto forever against the claims and demands of all �ersons whomsoever.
<br />PROVIDED ALWAYS and this instrument is executed and delivered to secure the payment of the sum of
<br />THIRTY-FOUR TOUSAND S11X HUNDRED AND 1\10/100-� -------------------- 34,6Q0. -OO
<br />oilers
<br />with interest thereon, together with stich charges and advcmcas as may be due and payable to said mortgagee under i the ''terms and
<br />conditions of the promissory note of! . even date herewith and secured hereby, executed by said mortgagor -.2— to said mortgagee, payable
<br />as expressed in said note, and to secure the performance of all the torrns and conditions..contained therein. The terms of said note are
<br />hereby incorporated herein by this relerence.
<br />It is the intention and agreement of the parties hereto that this mortgage shall also secure any future advances 'made to Hold
<br />mortgagor__�__ by said mortgagee, and any and all indebtedness in �dd'ition to the amount above stated which said mortgagors, or: any
<br />of them, may owe 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 r6presentatives, successors and assigns, until all amounts secured
<br />hereunder, including future advances, ar e paid in full with interest.
<br />The mortgagor_$— hereby assign; to said mortgagee all rents'and income. 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, insurance 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 hereb� secured. This
<br />rent assignment shall continua 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 fis rights hereunder at any time shall not be construed as a waiver of its right to assert
<br />th 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 />a r t � . ! -
<br />no r g go. i
<br />If said mortgagor_.�!_ shall cause to be paid to said mortgagee the entire amount due Ithereunder, and under the term I a an . d provisions
<br />of said note hereby secured, including future advances, and any extensions or renewals thereof in accordance -with the termsi.and provisions
<br />thereof, ' and if said mortgagor_�� shall comply with all the provisions p'f said note and of this mortgage, then these present's 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 noti and all indebtedness represented thereby to be immediately due and payable, and m?y, 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 />"hall draw Interest at 9% per annum. Appralsement waived.
<br />This mortgage shall he binding iipon and shall inure to the ben6fit of the heirs, executors, administrators, successors. and assigns of
<br />the respective parties hereto.
<br />IN WITNESS WRLMEOF, said Mortgagor S--IaV—e hereunto set.' their han'd S the day and'year' first above
<br />written.
<br />as .,bearson
<br />-neTl ge bearson:
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