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MORTGAGE—Sayings and Loan Form—(Direct Credit Plan) 255-2 (Special)
<br />0 1 n I -N 0A
<br />_L"qLj0 —
<br />MOOGAGE
<br />MICROMIAIED
<br />Locrn No
<br />17th October 75
<br />THIS INDENTURE, made this dcry of 19— by and between
<br />STAHLA MOBILE HOMES,"INC.
<br />of Ha I I County, Nebraska, as mortgagor—, and Homo Federal Savings and Logn, Association of Grand 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 />I WITNESSETH: That said mortgagor , for and in -consideration of the sum of
<br />EIIGHTY'FIVE THOUSAND AND NO/100-7 — — — — — — — — — — — — I — — — — — — — — — — — — — — — — — — — — — - ollars (S— 85,0 1 00-.00
<br />the receipt oi which is hereby acknowledged. do—'by these presents mortgage and warrant unto scrilid mortgagee, its puccessors and
<br />Hall
<br />assigns, forever, all the following described real estate, situated in the -,county of
<br />and State of Nebraska, to -wit:
<br />A TRACT OF LAND COMPRISING A PART OF THE NORTHWEST QUARTER (NWiD OF SECTION TW,ENTY
<br />SIX (26) IN TOWNSHIP EELLVEN (11) NORTH RANGE TEN (10) WEST OF THE 6TH P.'M. iNiHALL
<br />COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS:- BEGINNING AT A POINT Oil
<br />THE WEST LINE OF SAID SECTION TWENTY SIX (26) SAID POINT.BEING THREE HUNDRED TWENTY
<br />THREE (323.0) FEET SOUTH OF THE NOR THWEST CORNER OF SAID -SECTION TWENTY SIX (Z6) THENCE.'
<br />EASTERLY PARALLEL TO THL NORTH LINE OF SAID SECTION TWENTY SIX (26� A DISTANC�- OF ONE
<br />THOUSAND THREE HUNDRED SIXTY FIVE AND NINE HUNDREDTHS (1365.09) FEET; THENCE
<br />DEFLECTING RIGHT 890 24-' 20" AND RUNNING SOUTHERLY A DISTANCE OF SIIX HUNDRED TWENTY
<br />NINE AND FIVE TENTHS (629.5). FEET; THENCE.DEFLECTING RIGHT 880 47'.!�40" . AND RUNNING
<br />WESTERLY A DISTANCE OF SEVEN HUNDRED SIXTY FI.YE (765.0) FEET; THENCE RUNNING�':
<br />NORTHERLY PARALLEL TO THE WEST LINE OF SAID SECTION TWENTY SIX (26)i' A DISTANCE OF
<br />THREE HU14DRED EIGHTY THREE AND FIFTY ONE HUND�EDTHS (383.51) FEET;-�THENCE RUNOING
<br />WESTERLY PARALLEL TO SA: ' ID NORTH LINE OF SECTIbN TWENTY SIX (26) A DISTANCE OF''SiX
<br />HUNDRED TWELVE AND THREE TENTHS (612.3) FEET, -;TO THE WEST'LINE OF SAID SECTION
<br />TWENTY SIX (.26); THENCE � NORTHERLY ALONG SAID WEST LINE OF.SECTION TWENTY SIX -626)
<br />A'DISTANCE OF TWO HUNDRED SEVENTY (270.0) FEET TO THE PLACE OF'BEG[;'NNING AND
<br />CONTAINING 14.969 ACRES`.MORE OR LESS
<br />Together with all heating, lighting, and plumbing equipment and fixtures, including stokers and burners,. screens, awnings, storm windows
<br />and"doors, and window shades or blinds, used on or in connection with said property, whether the same are now located oh said property
<br />or hereafter placed thereon.
<br />TO HAVE AND TO. HOLD THE SAME, together with all and singular the tenements, horeditaments an appurtonances tiorounto belong-
<br />in4, or in anywise appertaining, forever, and warrant the title' to the same. Said mortgagor hereby covenant with �aid mortgagee
<br />that be— is at the,delivery hereof, the lawful owner of the promises above conveyed and described, Ld iS
<br />seized of a good and -indefeasible estate of inheritance therein, free and,clear of all encumbrances, and that 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 pgyment of the sum of
<br />EIGHTY FIVE THOUSAND AI;AD NOIIOO---:-; - — — — — — — — — — — — — — — — — =--pollars (S Rq nng nn
<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 6f the parties hereto that this mortgage shall also secure any future advances made to said
<br />mortgagor by said mortgagee, and any and all indebtedness in addition 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 representatives, successors and assigns, until all am�ounts secured
<br />hereunder, including future advances, are 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 defadlt, to take charge of said property'.and collect all rents and income
<br />thc�iefrom and apply the same to the payment of interest, principal insufance premiums, taxes, assessmonts, repairs or impr6vements neces-
<br />sary to keep said property In tenantable condition, or to other c�arges br payments provided for herein or.in the note herob� secured. This
<br />rent assignment shall continue in force until the unpaid balance of said note is fully paid. The taking of possession hereurider shall in no
<br />manner prevent or retard said morlga�ee in the collection of said sums -by foreclosure or otherwise.
<br />The failure of the mortgagee to Ossert any of its rights hereunder 'at any time shall not be construed as a waiver of its right to assert
<br />tho'same at any later time, and to irmist upon and enforce strict compliance with all the terms and provisions of said n6to 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 th terms and provisions
<br />of gaid note hereby secured, including hiture advances, and any extensions or renewals thereof in accordancb with the ()term :
<br />and provisions
<br />theicof, and if said mortgagor 0. shdll 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 6ifoct, and said mortgagee shall be entitled to the possession of all 6f 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 mciy 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 s,!cured hereby
<br />shall draw interest at 9% per annum. .:Apprainement waived.
<br />This mortgage shall be binding d , n and shall enure to the benefit of the heirs, -executors, admlnlstr�tors, successors 'and assic
<br />the respective parties hereto. P0 jns of
<br />IN WITNESS'. WHEREOF, said Mortgagor _--ha S hereunto set his han,4 the day and year, first above
<br />written.
<br />STAHLA MOBILE HOMES INC.
<br />ATTEST:.&
<br />B Dianne R. Stahla,, Secret�ry
<br />PR
<br />y I I -'-!V 14 L- 0 1p P!, es I: d e n t
<br />4 0 C,2
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