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<br />MORTGAGE
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<br />88- 100055
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<br />MORTGAGE LOAN NO. L
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<br />24,977
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<br />I
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<br />KNOW ALL MEN BV TIlESE 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 />Mortgagor, whether one or more, in ~~~!.8~~ ~~ the sum of
<br />Twenty Six Thousand and no/IOO ------------------------------------------ DOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and loan Association of Grand Island, Nebraska, Mortgagee, upon 260 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24,977 , do hereby grant, convey and mortgage unto the said ASSOCIATION the foDowing
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Two (2), Island Acres Number Eleven (I I), in the City of Grand Island, Hall County,
<br />Nebraska, comprising all of Lot One (I), Island Acres Number Six (6), a rep1at of Lots
<br />Nineteen (19) and Twenty (20), Island Acres, City of Grand Island, Hall County, Nebraska.
<br />
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached Ooor cowrings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air conditioning, and plumbing and water equipment and accessories thereto, pumps, sto\'eS,
<br />refrigerators, and other fixtures and equipment now or hereafter attached to or used in connect;on 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 levied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to furnish appro~
<br />insurance upon the buildings on said premises situated in the sum ors 26 000.00 payable to said ASSOCIATION and to deli\<er to said
<br />ASSOCI A TION the policies for said insurance; and not to commit or permil 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 />IlIOftpIeC all the rents, revenues and income to be derived from the mortgaged premises during such time as the mo~ 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, rewnucs and income, and it may payout of said income all expenses of repairing said premises and necessary
<br />commissions and expemes incurred in renting and managing the same alid 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 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 MOrlga&e
<br />
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 26,000.00 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 ronditions of the Bond for S 26 ,000. this day given 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 nuy 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.
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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 />sec:umI 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 at the maximum legal rate, and thi.i mortgage may then be foreclosed to satisfy the amount due on said
<br />bond, and any olher 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 />IepI rate.
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<br />As provided in the Bond secured hereby, while this mortgage 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 />ICCUfCd thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />
<br />
<br />anuary
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<br />A. D., 19 88.
<br />
<br />L
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<br />STATE OF NEBRASKA, l ss. On this 5th day of January 19 88 , before me,
<br />COUNlY OF JlALL ~
<br />. th~ undersi&ned. a Notary Publi~ in and for said County, personally came
<br />Gary E. Valasek and Mary G. Valasek, each 1n h1s and her own r1gnt,
<br />and as spouse of each other, " who are personally known to
<br />
<br />me to be the identical person s whose nall~ S are affixed 10 the above ;n,sttu~e~ortgagor S and they severally
<br />
<br />admowledBC'd the said instrument to be the 1 r voluntary act and deed." / ~
<br />WITNESS my hand and Notarial Seal the date aforesaid. (' , ," L/
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