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MORTGAGE—Savings and Loan Form—(Direct Credit Plan) 25572 (Special) MORTGAGE 0,10.665 Locis. a THIS INDENTURE, made thin -day of October lq_�5 by and between NORMAN R. GROBE AND WANDA J. -PROBE, as husband and wife, each in his and her own right �nd as spouse of the other Hall' s Of County, Nebraska, an mortgagor—, and Home Federal Savings!and Loan Association of Grand Island, a corporation brganizod and existing under the laws of Nebraska with its principal office and place !of business at Grand Island, Nebra:ska, as mortgagee; WITNESSETH: . That said mortgagor—, for and in consideration of the sum of THIRTY-EIGHT THOUSAND FIVE HUNDRED FIFTY'AND NO1100 7 Dollars (S 38,550.00 the receipt of which is hereby acknowledged, do— by these presents mortgage and warrant un , to said mortgagee, its successors and assigns, forever, all the following described real estate, situated in the county of— Ha I I and State of Nebraska, to -wit: LOT ONE (1) IN BLOCK'ONE (1) IN GOSDA SUBDIVISION, HALL COUNTY, NEBRASKA. Together with, all heating, lighting, and plumbing equipment and fixtures, including stokers and burners, screens, awnings, storm windows and doors, and window shades or blinds, used on or in connection with said property, whether the some are now located on said property or hereafter plbccd thereon. TO HAVE. AND TO HOLD THE SAME, together with all and singular the tenements, hereditaments and appurtenances thereunto belong- ing, or in any . wise appertaining, forever, and warrant the title to the same. Said mortgagor S hereby covenant with said mortgq ' goo that e a re __Lr!_, at the delivery hereof, the lawful owrier__� of the premises above conveyed and described, and — - seized of a good and indefeasible estate of inheritance therein, free and clear of all encumbrances, and that will warrant and defend the title thereto forever against the claims and demands of all persons whomsoever. PROVIDED ALWAYS, and this instrument is executed and delivered to secure the payment of the sum of THIRTY-EIGHT THOUSAND FIVE HUNDRED FIFTY AND NO1100 ---------- ollars(S 38,550.00 with interest thereon, together with such charges and advances as may be due and payable to said mortgagee under the terms and conditions of the promissory note of even date herewith and secured hereby, executed by said mortgagor—S— to said mortgagee, payable as expressed in said note, and to secure the performance of all the7 terms and conditions contained therein. The terms of said note 'are hereby incorporated herein by this reference. It is the intention and agreement of the parties hereto that this mortgage shall also secure any future advances made to said mor)gagor 55 by said mortgagee, and any and all indebtedness'in addition to'tho amount above stated which said mortgagors, or any of them, may owe to said mortgagee, however evidenced, whether by note, book account or otherwise. This mortgage shall remain in :full force and effect between the parties hereto and- their heirs, personal representatives, successors and assigns, until all amounts secured hereunder, including future advances, are paid in� full with interest. s The mortgagor— hereby assign— to said mortgages all rents and income arising at any and all times from said property. and hereby authorize said mortgagee or its agent, at its option, upon default, to take charge of said property and collect all rents and income therefrom and.apply the same to the payment of interest, principal, insurance premiums, taxes, assessments, repairs or improvements neces. sary to keep said property in tenantable condition, or to other charges or payments provided for herein or in the note hereby secured. This rent assignmerii, shall continue in force until the unpaid balance oi said note is fully paid. The taking of possession hereunder shall in no manner prevent or retard said mortgagee in the collection of said sums by foreclosure or otherwise. The failure of the mortgagee to assert any of its rights hereunder at any time shall not be construed as a waiver of its right to assert the 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 mortgage. If said mor igagor--a-- shall cause to be paid to said mortgagee the entire amount due it hereunder, and under the terms and provisions of said note hereby secured, including future advance!i, and any extensions or ronowalis thereof in accordance with the terms and provisions thereof, arid I I, iiaid mortgag - or q * shall comply with all the provisions of said note and of this mortgage, then these presents shall be void; otherwis to remain in full force and effect, and said mortgagee shall be entitled to-tho possession of all of said property, and may, at its this option, declare the whole of said note and all indebtedness represented thereby to be immediately due and payable, and may foreclose �k6 any other legal action to protect its right, and from the date of such default all Items of indebtedness secured hereby mortgage or ta shall draw interest at 9% per annum. Appraisoment waived. This mortgage shall be binding upon and shall enure to the benefit of the heirs, executors, administrators, successors and assigns of the roiipectivo-�arties hereto. IN WITNESS . WHEREOF, said Mortgagor �_hrr Ve hereunto not the i r hand S the day and year first above written. N(�I;man R. Grobe a j.