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<br />MORTGAGE
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<br />88- 100052
<br />
<br />MORTGAGE LOAN NO. L 24975
<br />KNOW ALL MEN BY THESE PRESENTS: That Gary E. Valasek and Mary G. Valasek, each in his and her
<br />own right, and as spouse of each other,
<br />
<br />
<br />___________~0~~~~~E=~~YE=2~~~~~~~~~~~~~~~~jheswnof
<br />Twenty One Thousand and no/tOO -------- DOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 2 10 shares of stock of
<br />said ASSOCIATION, Certificate No. L ,do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />The Westerly Sixty feet (60') of Lot Eleven (11), in Block Five (5), in Westerhoff's
<br />First Subdivision, in the city of Grand Island, Hall County, Nebraska except the Southerly
<br />Thirty feet (30') thereof deeded to the city of Grand Island for street purposes and ex-
<br />cept a certain tract deeded to the City of Grand Island by Warranty Deed recorded as
<br />
<br />Document No. 83-004641.
<br />
<br />together with all the tenements, hereditaments and appurtenances thereunto 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, and other fIXtures and equipment now or hereafter attached to or used in connection with said real estate.
<br />
<br />And whereas the said mortgagor has agreed and docs hereby agree that the mortgagor shall 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 shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 2 I ,000.00 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;
<br />
<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 necessuy
<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,
<br />
<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 !:aid ASSOCIATION of the sum 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 Mortgage
<br />
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 2 I ,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 />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
<br />
<br />with all the agreements and conditions of the Bond for S 2 I ,000 .00 this day given by the said Mortgagor to said ASSOCIATION, and comp!y
<br />with all the requirements of the Constitution and By-Laws of said ASSOCIATION; then these presents shall become nuU and void, otherwise they
<br />shall 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 />
<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 Equitable 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 option. bear interest al the maximnm legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<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 maximum
<br />legal rate.
<br />
<br />As provided in the Bond secured hereby, while this mor!gage remains in effect the 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 amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />
<br />jDated nus ~h :(
<br />A~7:1 ~~
<br />7?{~1}~1()fl&~
<br />
<br />Marf G. Valasek
<br />STATE OF NEBRASKA,l ss.
<br />COUNTY OF BALL {
<br />
<br />December
<br />
<br />A.D.,1987.
<br />
<br />r--
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<br />I
<br />!
<br />
<br />30th
<br />
<br />day of
<br />
<br />On this
<br />
<br />19 87
<br />
<br />, hefOle me,
<br />
<br />December
<br />
<br />the undersigned, a Notary Publjc in and for said County, personaUy came
<br />each in his and her own rl_ght,
<br />who are personally known to
<br />
<br />Gary E. Valasek and Mary G. Valasek,
<br />and as spouse of each other,
<br />me to he the identical person s whose name. s a re affixed to the above in~_t9"7t as mortgagor S
<br />
<br />acknowledged the said instrument to be the ~ r voluntary act and deed.
<br />WITNESS my hand and Nolarial Seallhe dale aforesaid, I
<br />
<br />My Commission expires 0/1/91 (.-;:' c/,,7?
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<br />and
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<br />the y severally
<br />
<br />..1P.nt III
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<br />Not.!tY I' ic
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