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<br />MORTGAGE.
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<br />'ishdr, Re,3ister bf Deeds,
<br />Hall. County, Nebraska
<br />MORTGAGE LOAN NO. — L 21 877
<br />KNOW ALL MEN BY THESE PRESENTS: That Gary L. Gay and Ielelne C. G Y, each in his;and her
<br />I
<br />own right and as'spouse of each other
<br />Morti agor, whe ther one!or more, in consl - d'eration of the sum of
<br />Nine Thousand Five Hundred and No/lIJU ---------------- ---- I
<br />7 ----------------- DOLLARS
<br />1 11 � I � I
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand lslan,djjNebraska,� ortgai!ee, upon 9 5 shares of stock of
<br />said ASSOCIATION, Certificate No. L 21X7 do hereby grant, convey 'al I mortgage unto lle said ASSOCIXTION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />THE LAbll:KLY IHIRTY FOUR AND FIVE fENTH� FEET
<br />C34.5-)_ OF LOT EIGHT (8) AN.D7HE WESTERLY FOURTEEN'
<br />AND FIVE TENTHS FEET (14.5
<br />OF LOT NIN� (9) OF
<br />BUENAVISTA SUBDIVISION IN TM CITY'OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA.
<br />together with all tile tenements, liereditaments and appurtenances tlic�'Cunto belongingi including; ittaclied floor coverings,lail windowscreens,
<br />window shades, blinds, storm windows, awnings, heating air conditioning', and plumbing arlid water equipment.�and accessories thereto pumps, stoves,
<br />refrigerators, and other fixtures and equipment now or lic;eafter attached to or used ill cohr ecti6ji withisaid r6l estate.
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<br />And whereas tire said mortgagor has agreed and does hereby agree iliat the mortgag�t sliall anJ will pay all taxes and assessments levied or
<br />assessed upon said premises and upon this mortgage and th , e bond secured thereby bcfdr�l tile �, same. s I liall'be , come delinqu . ent;'to furnish approved
<br />insurance upon the buildings on said 'premises situated in the' sum of S 9., 500 . 00 : payable to Isaid ASOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance; and not to co6lit or permit any waste on"o' about said premis6s;
<br />In case of default in the performance of any of tile terms and conditions of this mo,tgage or the bond secured hereby, the mortgagee shall,
<br />c 11101
<br />on demand, be entitled to immediate. possession of the mo!rtgaged premises and th ' 11 �tgagor h6re15y asjigns, transfers: and sets over to the
<br />mortgagee all the rents, revenues and;income to be derived from the mortgaged prcmises� . such time as tile mortgage indebtedness shall rema'in
<br />ring
<br />unpaid; and the mortgagee sliall have the power to appoint ahy agent or agents it may des Ile for the it of repairing said Premises and renting
<br />the same and collecting the rents, revenues and income, andit may pay out of said incoril all � posc
<br />.. expen es of jepairing said premises' and necessary
<br />commissions and expenses incurred it! renting and managin� the same and of collecting lentals the'r(from; .!tile balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness;! these rights of the mortgagee I nay be exerbised at�'any time during jhe existence of such
<br />default, irrespective of any temporary waiver of tile same
<br />agor sliall r cray said
<br />tion, hat if the said 1%lortg j on oi before the maturity of said shares by
<br />These Presents, however, are upon the Condi loa I
<br />payment; pay monthly to said ASSOCIATION of the su s I peci led in the Bond secured' I creby as ir�iterest and principal on said loan, on or before
<br />the Twentieth day of each and every month, until s i loan is fully paid; pay all taxes and ass�pssm6nts 16v ed agai�st said premises and oil this Mortgage
<br />and tile Bond secured thereby, befor delinquency; urnish approved insurance upon the bur dings thereon in dic sum of S 9 500 . 00 payable
<br />to said ASSOCIATION; repay to said. ASSOCIATION uporildernand all money by it paid 14 r such taxes, asse�sments and inlsurpncc with interest at
<br />the maximum legal rate thereon from date of payment all of which Mortgagor hereby-agree's io pay; perrillit no waste oil said prernises;keep and comply
<br />with all the agreements and conditions of the Bond f S is day giver] �y the said At : q I rtgagor! to said ASSOCIATION, and comply
<br />9ASIOCIA11TION; then th� presents
<br />with all the.requirements of the Constitution and ByoLaws OTSal Ise sliall become null and void, otherwise they
<br />sliall'remain in full force and may be foreclosed 1it the ' op ' tion of the said ASSOCIATIO q after fail re for, three months tro make.any of said
<br />payments or be three months in arrears in making said monthly payments, or to keep and omply with' the aireements and Co n1ditions 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 ot ierwise, thl the Intire remaining indebtedness hereby
<br />secured shall, at the option of Tile Equitable Buildingand L6an Association of Grand Island, Nebraska,8ecomeliniiiiediately due.andpayable without
<br />further notice, and the amount remaining due under said bond, and any other bond f6rilany additional adv�nces made thereunder, sliall, from the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgag6 11liay then b'cl forecl6sed to satisfy tlie� amount due on said
<br />bond, and any other bond for additional advances, together with all sums paid by said Th6 Ii quitable Building �nd Loan Association of Grand Island,
<br />Nebraska for insurance, taxes and assd,ssnients, and abstractini g extension charges, with inte I rest thereorli, fton� date of payment at the maximum
<br />legal rate.
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<br />As provided in the Bond secured hereby, while this mortgage remains in effect the i tort agee may lier6after advance additional sums to tile
<br />makers of said Bond, their assigns or successors in interest, which sums shall be within tlic� s �curity of diis mor-tgage tile same as the funds originally
<br />secured thereby, the total amount of principal debt not to c�cecd at any �imc the original:a hount of thi's nil
<br />Dated this I 2th '.day of November. A. A, 19 75
<br />n
<br />STATE OF NEBRASKA,
<br />COUNTY OF HALL ss.
<br />Gary L. Gay a:nd lelene C. Gay,
<br />right and -as spouse of.each oj
<br />me to be the identical persons . whose
<br />acknowledged the said instrument to be
<br />WITNESS my hand and tarial
<br />Iel.
<br />On this 1 2th day of
<br />adliunders
<br />ner o'Mne
<br />E r?
<br />My Commission'expires
<br />*% 7& /1
<br />,�.z
<br />3-73-2M
<br />OF I
<br />�jh to the above inst I
<br />n eed.
<br />lid.
<br />� f, -, 5 /-/-
<br />ie !C. Gay j
<br />November 19 75 beforeme,
<br />a Notary Public inland for said Cou nty, personally came
<br />NOlo are person.ally known to
<br />nent as mortgagors and they severally
<br />Nota
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