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010989
<br />REAL ESTATE MORTGAGE -1J1CR0FjL&jE0
<br />11:10L)"T 110MBER
<br />MORTGAGOR(S):
<br />L4�T 11111E 1145T INITIAL E. -S 11A.E:
<br />MORTGAGEE':
<br />AVCO FINANCIAL SERVICES
<br />of Nebraska. Inc
<br />12U W. 2nd
<br />Gr I Islands, NEBRASKA
<br />m
<br />AGRI-AA) RATE 01: CHARGE ON PROMISSORY NoTi: EXECUTrD CONCURRENTLY HEREWITH: The agreed rate of charge is 21/,'; per nionth oil that
<br />Part o f I lie unp . d balance not exceeding S300;1% per month on any part thereof exceeding S300 but not exceeding $500; IM -5. per month on any part thereof
<br />at
<br />exceeding $500; but not exceeding $1000; and I'll per nionth on any part tlicreofexceedin, S1000 but not exceeding $3000.
<br />WHNESSI,111, that NlOrtgagor gilf s mortgage, grant, bargain, sell, and Convey, unto \101711�ag(!C, it% Successors or assigns (lie following described Real-listate
<br />in tile count)' of— Suite of Nebraska, to wit:
<br />Lot three (3). Block eleven (11) University Place, Grand Island, Hall County.. Nebraska
<br />logether with all buildings and iniprovenle I its no%%, or hereafter erected thereon and all screens, awnings, shades, stori it sash and blinds, and heating. liglitin : g ,
<br />plumbing. gas, electric, ventilating, refrigerating and air-conditioning equipment used in connection therewith, all ol'which, for tliel)tirl)oseoftliistiiort,,zige,
<br />shall be LICCITIC(I fixtures and subject to tile liell Ilere of, and tile hereditaments :in(] appurtenances pertaining to the property aboVe described, and all streets,
<br />lanes, allLys, passages. ways, waters, water courses, rights, liberties and privileges, whalsocv�er theretinto belonging or in anywise appertaining and tile reversiobs
<br />:in(] remainders, all of which is referred to hereinafter as tile "prelilises".
<br />TO HAVE AND TO HOLD tile above-described premises, with the appurtenances ail' fi x tures, unto the said Mortuagee, its successors and assigns, forever. for
<br />tile purposes and uses. herein set Forth, free front all rights and benefits tinder and i)y virtue of in%, Homestead EIxemption Laws of the Su-ite of Nebraska
<br />Which ilia), lie enacted, -which said rights .Old benefits tile said Mortgagor does hereby e.xpressly release ard waive.
<br />Mortgagor also assigns to Mortgagee all rents, issues and profits of said premises, reserving the right to collect and use the same;vvith orwithout taking
<br />possession (IF tile prelilises, during continuance of default hereunder. :in(] durint
<br />g continuance of' such ilefault a it thorizing Mortgagee to enter upbn said premisus
<br />and/or to collect and enforce the same without regard to adequacy of any, security for tile itHICIACLIlleSS' hereby secured by any lawful nicans including
<br />appointment of a receiver in the name of all%, party hereto, and to apply the same less costs and expenses of operation and collection, including reasonabic
<br />attorney's fees, upon any indebtedness secured hereby, in such order as Mortga.gcc may determine.
<br />FOR 'Fill: PURPOSE Ol-' SECURING: (I) Performance of cach agreement of' Mortgagor containe * d hereirl; (2) Payment of the principal suin with interest,
<br />as provided in accordance with the terms and Ag r e
<br />provisions -of a promissory Note/ Loan enicrit fliercinafter. referred to its "promissory note',')
<br />'(1ated ctobt-r 24 - I , herewith executed by Mortuagor and payable to tile order of Mortgage I c,
<br />ill tile principal Still) Of �_mbbx and having tile (late Of its fillal payulCut (file of)
<br />or its extended, deferred or rescheduled by renewal or refinance; (3) Paylilent of :in\, additional advarices,%vith interest thercon, as nlav licteafterbe
<br />loaned by lortgagee to Mortgagor in a maxinium stun of S3.000.00 within 10 years from tile (late of this Mortgage; (4) 'File payment of any
<br />nioncy tliat may be advanced by, tile Mortgagee to Mortgagor for ;ill%, reason or to third parties, Nvith interest thereon,where the amounts are advanced to
<br />protect the security or in accoriance with the covenants of this Mortgage; (5) Any renewal, refinancin
<br />agreen.ent to Pay which ilia), be substituted therefor. _4 or extension of said promissory note, or any other
<br />All pay ments inadc by Mortgagor oil tile obligation secured by this Mortgage shall be appliud in the following order:
<br />i:iits,r: To tile. Payment of taxe's and assessments that Intly be levied and assessed against said premises, insurance premiums, repairs, and all othe:r
<br />charges and expenses agreed to be paid by tile Mortgagor.
<br />SECOND: TO tile payment of interest due oil said loan.
<br />TIIIIU?: To tile payment of principal.
<br />TO PROTECT TIll: SECURITY lIE.ltEOI:, MORTGAGOR(S) CO VEINA NTS AND AGREES:'(I) to kec;l said prcmisesinstired against loss by fire and
<br />other -liazards, casualty and contingencies LIP to tile full value of all improvements For the pr6tection 'of Mortgagee in such manner, in such aniounts, land
<br />in such companies :is Morl'agee may front tinie to titne approve. and that loss proceeds (less expense of collection) shall, at Morleagee's option, be
<br />applied oil said indebtedness, whether due or not or to the restoration of said improvements. III event of loss Mortgagor will give im-niediate notice by
<br />mail to the Mortgagee, who ilia), make proof of loss it' not madc promptly by Mortgagor, and cach insurance company concerned is hereby authorized and
<br />directed to make payment for such loss directly to the Mortgagee instead of to tile Mortgagor. (2) To pay all taxes and special assessille s of I k d
<br />f nt its in
<br />that have been or may be levied or assessed upon said Premises, and to deliver to Mortgage, upon request of the Mortgagee, the official receipt showing
<br />payment of all such taxes and assessments. (3) 111 the event of' default by ,Nlortgnwor tinder Paragraphs I or 2 above, Mortgagee, at its option, ilia), (a)
<br />place and keel) such insurance above provided For in force throughout the life lif this Mortgage :in(] pay the reasonable premiums and charges therefor: (b)
<br />Pay all said taxes and assessments Without determining the validity thereof; and (c) Pay such liens and iillsttclidisbtirseiiieiitsslizilibedeciiie(I apartof
<br />Pic indebtedness secured by this Mortgap and shall be immediately due and payable 1)), Mortgagor to Mortgagee. (4) TO keel) the bit ild ings and other
<br />Improvements now existing or hereafter erected in _good condition :Old repair, not to commit or su _ ffer tiny waste or all), use of said Premises contrary to
<br />restrictions of record or contrary to law, and to permit Mortgagee to enter at all reasonable times for [lie purpose ofinspecting the premises; not to
<br />remove or demolish any building thereon; to restore promptly and in :I good and workmanlike manner any buildings which may be damaged or destroved
<br />thereon, and to pay, due, all claims for labor performed and materials furnished therefor: (5) That lie will pay, promptly the indebtedness secured
<br />liereby, an(] Perform all other obligations in full compliance with the ternis of said Promissory Note and this Mortgage; (6) That the time ol'payment of
<br />the intlebtc(hics-, hereby secured" or of any portion thereof, truly be extended or rcrieNved, and. an), portions of the premises herein described may, without
<br />notice, be released front tile lien hereof, without releasing or affecting the personal liability of any person or the priority ofthisMortgage;(�)That lie
<br />does hereby forever warrant and will forever defend the title and possession thercof against the lawful claims of any and all persons whatsoever.
<br />IT IS MUTUALLY A'GIZEED THAT: (1) If tile said Mortgagor sliall fail or neglect to pay installments oil said Promissory Note as the same may hereafter
<br />becorne due, or upon derault in performance of any agreement hereunder, or upon sale or other disposition or the premises by Mortgagor, or should any
<br />action or proceeding be filed in any court to enforce any lien oil, claim a.gainst or interest in' the Premises, then all stinis owing by the Mortgagor to the
<br />Mortgagee tinder this Mortgage or tinder the promissory Note secured hereby shall immediately become (tile and payable at tile option oftlic Mort-gygee,
<br />oil tile application of the Mortgagee, or assignee, or any other person who may be entitled to the monies due thereon. III such event the Mortgagee sliall
<br />have the right immediately t ' o foreclose this mortgage by 1complaint for that purpose, and such complaint may be prosecuted to judgment and execution
<br />and sale for the collection of the whole arnount of' the indebtedness and interest thercon, including reasonable attorney's fees, all), amounts advanced
<br />pursuant to this mortgage, costs of suit, and costs of sale, it' permitted by law.
<br />(2) 111 the event said premises are sold at a foreclosure sale, Mor(gagor(s) shall be liable for any deficiency remaining after ,�fle ofthe premises irpermitted by
<br />law, and application of tile proceeds of said sale to the indebtedness secured and to the expenses of foreclosure, including,%lortgagee's reasonable attorney�s
<br />fees and legal expenses if allowed by law.
<br />(3) Mortgagee shall be subrogated to the lien of any alid all prior encumbrances, liens or charges paid and discharged front the proceeds of [lie loan
<br />'liereby secured, and even though said prior liens have been release(] of record, the.repayment of' said indebtedness sliall be secured by such liens on tile
<br />portions of said premises affected thcr�by to the extent of such payments, respectively.
<br />(4) Whenever, by the ternis of this instrument or or said Promissory Note, Mortgagee is given all), option, such option may be exercised when (lie right
<br />accrues or tit tiny time thereafter, and no acceptance by Mortgagee of payment of indebtedness in default sliall constitute a waiver orally default then
<br />existing and continuing or thereafter accruing.
<br />Z G-0 47 5 1 R r- v. AI -7 3) N 13
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