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89 ' 142859
<br />MORTI�A(iE
<br />MORTGAGE LOAN NO. HI 908 FHA
<br />I KNOW ALL MEN BY THESE PRL19FNTS: That Michael S. McElroy and Cristy J. McElroy, each in his and
<br />her own right, and as spouse of each other,
<br />Mortgagor. whether one or more, in consideration of the arm of
<br />Ten Thousand and no 100 ----------------------------------------------------------- -
<br />loaned to said martpeot by The i:quitsble Buildir.- and Loan Association of Grand Island, Nrbnsica, Mortgagee, upon 100 sores of stock of
<br />said ASSOCIATION. Certificate No. III 908 FHA , do hereby giant, convey and mortgage itnto the said ASSOCIATION the folio"
<br />described real estate. situated in Ilalt County, Nebraska:
<br />The Easterly Sixty -five Feet (651) of Lot Seventeen (17) and the Westerly Nine Feet (91) of
<br />Lot Eighteen (18), Block Ten (10), Parkhill Third Subdivision, in the City of Grand Island,
<br />Hall. County, Nebraska,
<br />together with all the wrierrients, hereditaments and appurtenances thereuar,U belonging, including attached floor coverings, all whtc fjw.. screens,
<br />window shades, blinds, slotin windows, awnings, heating, air wndit.ioning,andplumbing and water equipment and accessories thereto,pumptt.stoves,
<br />refrgsentrtrs, and other famuies and, equipment now or hereaftcv ast;t -a4icd to or used in conngction with said real estate.
<br />And whereas the said mortgagor has agreed and does hereby agree that t�,t mortgapm shall and will pay all taxes and assessments levied or
<br />awersed upon said premises and upon this mortal: and the bond secured Octety before the same shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 10, 00G., 60 payable to said ASSOCIATION and to deliver to said
<br />Z......,... .u...w....w .n., ,ii wrTikCiii vi pdruiti =tiy waaic ins or ailt>tfrl: aaltl prCrrmeE; .
<br />In case of -del`ault in the performance of any of the terms and conditions of this mrtrtpge er the bond secured hereby., the mortsigee shall,
<br />on detri&W, ire ehtilled to immediate possession of the nwrtpaged pren►ists !!qd the m ropgor hereby assigns, trarnfalm and sets over to the
<br />m dpgeo all the rents, revenues and income lobe derived from the mortpgi:d'premises during such time as the mortgage indebtedma.thall remain
<br />unpaid; and the mottgngm shall have the power to appoint any agent of agents a. may desire for the purpose of repairing said premises and tenting
<br />the same and collecting the rents, revenues and income, and it may pay out of u-W income all expenws of repairing said premises and necessary
<br />eomminions and expenses incurred in renting and managing lite same and of 'et;3ectsng rentals therefrom; the balance remaining, if any, to be
<br />alVilie.4 toward the discharge of said mortgage indebtedness; these rights of the trrortgagee may be exercised at any time duFft the existence of such
<br />default. irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condit ton. That if the said Mortgagor slain repay said loan on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the flotni secured hereby as intetest. and principal on said foan.orror beforo
<br />the Twentieth day of each and every month, until said loan is fully paid; pay all Uk s and asmssrnentsi !i=vied against said premises and on this Moripp
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 10, 000. 00 b
<br />to said ASSOCIATION. repay to said ASSOCIATION upon demand. all money by it paid fur such taxes, assessments and insurance with interest le at
<br />the maximum legal rate thereon from date of payment all of which lduripp; hereby agrees to pay; permit no waste on said ptemises;keep and comply
<br />with all the agreements and conditions of the Bond for S 10, 000.00 this da7p given by the said Mortgagor W said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -laws of said ASSOCIATION. then these presents shall become null and void, otherwise they
<br />sh3U 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 in arrears in making said monthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings,
<br />If there is any change in owDersWp of the real estate mortgaged herein, by. sale or udvmise, then the entire remaining indebtedness hereby
<br />secured shall, at the option of The Nuitable Buildirtt;and Loan Association of Gmc;s Island - Nebraska,becotrae immediately due and payalsiewithout
<br />further notice, and the amount remaining due k=d-i: said bond, and any otNw bond foci
<br />or:fry additional tdv&nces made thereunder.thatl:fkom the
<br />date of exercise of said o tion, bear interest at the rnaxmrars'l legal rate, and this• trwrtgage may then be forCabsed to satisfy the amount'y'ue on said
<br />bo",arrd; any other bond for additaranal advances, together with all sums paid by said The F.gtutable Building and Loa, Association of Grand Island,
<br />Nebratdm for insurance, taxes and auesxments, and abstractingeveiWon charges, with interest thereon, from date of payment at the maximum
<br />ieY,il rak.
<br />As provided in the Bond secured hereby. whsYe• this mortgage remains in effect the mortgagee may hereafter advance additional vim to the
<br />mokets 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 />seeured.thereby, the total amount of principal debt not to esrx e+j at; any time the original asu7rnt of this mortgage.
<br />Q 4DS led this ' 31 of May A. O, 19 89
<br />S Mc
<br />Cristy J. acElroy
<br />STATE Oh NEBRASKA, M- f 19 On this 31st day of May 19 69 , before me.
<br />CNTY Of IiA1.1.
<br />the utt,&mgried. s klot:ry Public in : nd for said County, person:Ilycenic
<br />L M.ichaeI S. McElroy and Cristy J. McElroy, each in his and her own
<br />right, and as spouse of each other who are personally known to
<br />me to be the Identical pciwn S whose names are affixed to the above snstr nt nwrtk:gor S and they severaliy
<br />aclxnowledged the said insirunuut w he the I' rutunr.iry eLr sad (teed
<br />Wil %l SS tar Lind ill.) %1,lareal Val in 11,41:
<br />tar► =Y of j0 Y �lAtt y F :,
<br />0UM (* 30 t"M
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