|
010�MiCROFILMED
<br />.j
<br />THIS INDENTURE WITNESSETH,.that LORAN L..CROSBY AND JUDITH M. CROSBY, AS JOINT TENANTS
<br />AND NOT AS TENANTS IN CbMMON
<br />of HALL County, Nebraska, herein called MORTGAGOR, in consideration of 3 42,320.00 in hand
<br />p . aid, hereby grant, bargain, sell and convey to THE FIRSTNATIONAL BANK OF GRAND ISLAND
<br />GRAND ISLAND, NEBRASKA
<br />herein called MORTGAGEE, its successors and assigns forever, the following described real estate situated in the of
<br />County, Nebraska, to -wit:
<br />LOT T14ELVE (12) IN SPELTS—SCHULTZ ADDITION TO THE CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA.
<br />t6gether with all the appurtenances tbereunto belonging or in any wise pertaining thereto. Mortgagor iclinquislies all rights of homestead -and
<br />all other contingent interest in said premiscs. The conveyance of the premises above described together with all the rents, issues and profits
<br />thereof is made to secure the rcpaynicn*t of a loan made by the Mortga,*,ce to the Mortgagor, as cvidci��ccd.;:by a promissory note of even datc�
<br />herewith in the principal suni of Forty—Two Thousand Thr6e Hundred Twenty An'd'N'o/100 — — — — — —
<br />-Dollars
<br />(S 42,320.00 executed by the 'Mortgagor and payable to the order of the Mortgagee, with iliterest at tile ratelthercin set fortli,-
<br />the principal and interest payable in;accordancc with the terms of said'�romissory note, and finally maturing on Febr'. 11 19 76
<br />All sunis due shall bear interest after the due date at the rate of % per annum, and with a.'reasonable attonie�s fee as may be
<br />determined by the Court
<br />Mortgagor licreby expressly covenants and agrees with Mortgagee, a's follows:
<br />1. 'Mortgagor is lawfully seized 'of all indefeasible estate in fee simple free from encumbrances and I - ]as good right an& po'iv'er to convey
<br />an absolute title, in fee simple, includiing all the rights of homestead.
<br />2. To pay all sums hereby securid when due.
<br />3. To pay when due all taxes atfd assessments of every type or. nature levied or assessed against said..property, or upon� the Mortgagee's
<br />interest therein; and also to pay any'claim, lien or encumbrance against'said property which may be or become prior and senior to tile lien of*
<br />this mortgage.
<br />4. To keep all buildings oil the ortgaged property insured against)oss and damage by fire, windstorm and other liazards,1with such solvent
<br />insurance company or companies, and in such amounts, as are satisfact6.ry with the Mortgagee, and with the proceeds of lo�s payable to'tlic
<br />Mortgagee as its interest may appear. The policies of insurance, and abstracts and other evidence of 'title', shall ll� deliverea to and held by
<br />the Mortgagee witliout liability, and upon foreclosure of this mortgage, or acquisition of the real-estate or any part thereof, in #ny other manner,
<br />shall become the absolute property of tile Mortgagee.
<br />.5. Mortgagor will maintain the property in its present condition. of repair, and will not commit or s'uffer waste thereof.
<br />6. In tile event Mortgagor fails to pay any claim, lien or encumbraiice or the taxes or�assessnients, above mentioned, or ilay the premiums
<br />of insurance, or keep.. said premises in repair, or shall commit or permit ilic commission of any waste,. or'shail default in the pdrforrifance of any
<br />of the terms, covenants and agreeme�ts of the promissory note secured by this mortgage, or of this mortgage, or if the Mortgagor' sliall abandon
<br />said property, or if'tlic Mortgagee shall be made a party in any suit on account of the existence of this mortgage or involving' the title to said
<br />real estate, the Mortgagee may pay said claims, liens, encumbrances, taxei, assessments, or premiums, with right of 'subrogation thereunder, or
<br />make repairs, or purchase a tax titic,;aiid may procure such abstracts of 'title or other evidence of title a's it deems necessary, qr pay court costs,
<br />a nd all sums so paid, with interest at the maximum 'rate allowable by l4w, shall become a part of the indebtedness hereby. ; ecu'
<br />s red, and also
<br />the whole of the indebtedness secured hereby sliall become and be immediately due and payable at the 'option of the Mortgagee w ithout notice
<br />r � o deniaiid, which are hereby cxpressiy waived, and this mortgage may be foreclosed.
<br />7. Mortgagor hereby assigns to ;the Mortgagee as additional and , collateral security all profits, I reve mics, royalties, rions'and benefits
<br />accruing to the Mortgagor under any,and all present or fut ' tire oil and gas ]cases on said premises with the right to receive alad apply them at
<br />it's option to said indebtedness. This ;,assignment shall terminate and become mill and 'void upon release of this mortgage.
<br />.8. No. delay by the Mortgagee in�, exercising any of its rights hereunder shall operate as 'waiver thereof or shall preellideQ from the exer-
<br />cise thereof during the continuance of. any default or breach of covenant.
<br />9. This mortgage may be forcclo'�ed with all legal or equitable rights, permitted under the laws of the State of Nebras"ka not expressly
<br />provided for herein inuring to the benefit of the Mortgagee.
<br />10. When the foregoing covenants and agreements have been performed, this mortgage sliall be void and shall be released at the expense of
<br />Mortgagor; otherwise to remain in full force and effect.
<br />INWITNTSS WHEREOF, the Mortgagor has hereunto executed this instrument this 16th day of October -1975
<br />4-
<br />
|