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<br />MORTGAGE
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<br />87- 107209
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<br />MORTGAGE LOAN NO. L 24,971
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<br />KNOW ALL MEN BY TIiESE PRESENTS: That Michae 1 F. Baxter and Deborah L. Baxter, each in his
<br />and her own right, and as spouse of each other,
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<br />Mortgagor, whether one or more, in consideration of the SUm of
<br />Forty Five Thousand Six Hundred and no/IOO ---------------------------------------lOOLLARS
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<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 456 shares ofstodt of
<br />said ASSOCIATION, Certificate No. L 24,971 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
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<br />SEE EXHIBIT 'A' HERETO ATTACHED.
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<br />together with all the tenements, hereditaments and appurtenanres thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air conditioning. and plwnbing and water equipment and accessories thereto,pumps,stOftS,
<br />refrigerators, and other fIxtures and equipment now or hereafter attached to or used in connection with said real estate.
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<br />And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessments Ieried or
<br />assessed upon said premises and upon this mortgage and the bond secured thffeby before the same shall become delinquent; to fwnish approftd
<br />insurance upon the buildings on said premises situated in the sum of S4 5,600.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance; and not to commit or permit any waste on or about said premises;
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<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 and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said premises and renting
<br />the same and collecting the rents, revenues and income, and it may payout of said income all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and 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 of such
<br />default, irrespective of any temporary waiver of the same.
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<br />These Presents, however, are upon the Condition, That if the said Mortgagor shall repay said loan on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIATION of the swn specified in the Bond secured hereby as interest and principal on said loan, on or before
<br />the Twentieth day of each and every month, until said loan is fully paid; pay all taxes and assessments levied against said premises and on this MortpF
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<br />and the Bond secured thereby, before delinquency; fwnish approved insurance upon the buildings thereon in the sum of S 45 ,600 .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 />the maximum legal rate thereon from date of payment all of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep and comply
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<br />with all the agreements and ronditions of the Bond for S 45,600.00 this day gi\'en by the said Mortgagor to 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 />shall remain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for t1uee 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.
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<br />If there is any change in ownership of the real estate mortgaged herein, by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, at the option of The Equilable Building and Loan Association of Grand Island, Nebraska, become immediately due and payable without
<br />further notice, and the amount remaining due under said bond. and any other bond for any additional advances made thereunder, shall, from the
<br />date of exercise of said oplion, bear interest at the maximum legal rate, and this mortgage may then be foreclosed 10 satisfy the amounl due on said
<br />bond, and any other bond for additional ad\"3Dres, together with all sums paid by said The Equitable Building and Loan Associalion of Grand Island,
<br />Netlraska for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximwn
<br />IepI rate.
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<br />As provided in Ihe Bond secured hereby, while this mortgage remains in elTect the morlgagee may hereafler advance additional sums 10 the
<br />makers of said Bond, their assigns or successors in interest, which sums shall be within Ihe security of this mortgage the same as the funds originally
<br />lCCUJed thereby, the lolal amount of principal debt not to exceed at any time the original amounl of this mortgage.
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<br />December
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<br />A. D., 19 87
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<br />
<br />J;;u
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<br />L
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<br />Deborah L. Baxter
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<br />STA,TE OF NEBRASKA,' $S. On Ihis 18th day of December 1987
<br />COUNTY OF I1ALL ~ ' before me,
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<br />. II\< unde.rsigned, ~ Notary I'ublic in and for said Counly, personally came
<br />Mlchael F. Baxter and Deborah L. Baxter, each In hiS ana her own
<br />right, and as spouse of each other, who a re personally known to
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<br />and they sevel1llly
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<br />me to be Ihe id~ntiClll person s whose name s a t'e affixed to the above instlUmenr as morlgagor S
<br />acknowledged the said instrumenllo be the i r voluntary act and deed,
<br />WITNESS my hand allll Nolarial Seallhe \late .r,"csald,
<br />My Commission eXpires //'c:<.5> .,(-;r
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<br />NOlary Puhlic
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