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F f record>Z,;;�
<br />7 Pa. -e
<br />Of r. -I Li V Of D 0 0 ad
<br />010921"1 Ml
<br />Fall Colijity,
<br />MORTGAGE
<br />MORTGAGE LOAN NO. L 21878
<br />kNOW ALL MEN BY THESE PRESENTS: That Duane E. Donaldson and Linna Dee Donaldson, each in his
<br />and her own right and as spouse ofeach other, Mortgagor, whether one or more, in consideration of the sum of
<br />Twenty—eight Thousand and No/100 ------------------------------------------------- =.DOLLARS
<br />]called to said mortgagor by Tile Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 280 shares of stock of
<br />�aid ASSOCIATION, Certificate No. L 21878 , do hereby grant, convey and mortgage unto tthe said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />LOT ELEVEN (11), IN BLOCK TWO (2), IN VALLEY VIEW
<br />SUBDIVISION IN THE NORTHEAST QUARTER OF SECTION:22, TOWNSHIP
<br />11 NORTH, RANGE 9 WEST OFIHE 6TH P.M.
<br />together with all the tenements, hereditaments and appurtenances thercunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air conditioning, and plumbing and water equipment and accessories thereto, pumps, stoves,
<br />refrigerators, arid other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And whereas the said mortgagor has agreed arid does hereby agree that the mortgagor sliall and will pay all taxes and assessments levied or
<br />,assessed upon said, premises and upon this mortgage and the bond secured thereby before the same sliall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 28 , 000. 00 payable to said ASSOCIATION arid to deliver to s aid
<br />ASSOCIATION the policies for said insurance; and not to commit or permit 3any waste on or about said premises;
<br />In case of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee shall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />mortgagee all the rents, revenues arid income to be derived from the mortgaged premises during such time as the mortgage indebtedness sliall remain
<br />unpaid; arid the mortgagee sliall have tile power to appoint any agent or agents it may desire for the purpose. of repairing said premises arid renting
<br />the same arid collecting the rents, revenues and income, and it may pay out of said income all expenses of repairing said premises and riccess�ry
<br />commissions arid expenses incurred in renting and managing the same arid of collecting rentals therefrom; the balance remaining, if any, to�be
<br />applied toward the discharge of said mortgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence ofsuch
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor sliall repay said loan oil or before the maturity of said shares by
<br />payment, pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest arid principal on said loan, on or bef�rc
<br />the Twentieth day of each and every month, until said loan is fully paid; pay all taxes and assessments levied against said premises arid oil this Mortgage
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildin.-s thereon ill tile sum of S 28 , 000 . 00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION- upon demand all money by it paid for such taxes, assessments and insurance with interest at
<br />tile maximum legal rate thercon from date of payment all of which Mortgagor hereby agrees to pay; permit no waste oil said premises; keep arid comp ly
<br />with all the agreementsand conditions of the Bond for S 28 000 . 00 this day given by the said Mortgagor to said ASSOCIATION, arid collipily
<br />with all the requirements of the Constitution and By -Laws of said ASSOCIATION; then these presents sliall become null and void, otherwise thi2y
<br />sliall remain in full force and'may be foreclosed at the option of the said ASSOCIATION after failure for three months. to make any of said
<br />payments or be three months ill arrears in making said monthly payments, or to keep and comply with the agreements and condit.ions.ofsaid Boi : id;
<br />arid Mortgagor agrees to havea receiver appointed forthwith ill such foreclosure proceedings.
<br />If there is any change in ownership of the real estate mortgaged lierdin, by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, at tile option of The Equitable Buildingand Loan Association of Grand IsLild, Nebraska, become immediately due andpayable without
<br />further notice, arid the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shall, from tile
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on s�:lid
<br />bond, and any other bond for additional advances, together with all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maxinithn
<br />legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect tile mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, their assigns or successors in interest, which sums shall be within the security of this mortgage the same. as the funds originally
<br />secured thereby, the total aniount of principal debt not to exceed at any tinle the original amount of this mortgage.
<br />Dated this I 2th day of November -D., 19 75
<br />ZL
<br />Duane E. Donaldson �inna Dee Donaldson
<br />STATE OF NEBR'�SKA, ss. On this 12th day of November 19 7 5 befo.re me,
<br />COUNT) the undersiAned, a Nota . r Public in and.for said County, personally came
<br />Duane,E,.-.,D6.naldson and Linna Dee Donaldson, each in own right and as spouse
<br />o f : p .-j. who are personally known to
<br />oth
<br />me t'o �cthc, id6fical �crso"TIS whose names are affixed to the above instrument as mortgagorS and they severally
<br />acknowledged the�siaid * fristrumerittobe- their voluntary act and deed.
<br />NVITNESS,*my�, hand arid Notarial Seal the date aforesaid.
<br />My Commission expires
<br />A__t� A
<br />Notary Public
<br />3-73-2M
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