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<br />88<=n 100375
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<br />MORTGAGE
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<br />I
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<br />MORTGAGE LOAN NO, L-24 ,98 I
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<br />KNOW ALL MEN BY THESE PRESENTS: That Sadie A. Scheel, an unmarried person,
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<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Seventeen 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 176 shares of stock of
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<br />said ASSOCIATION, Certificate No, L 24,98 I , 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 />Part of Lots Fifteen (15) and Sixteen (16), in Block Three (3), in Fifth Addition to the
<br />Town of Cairo, Hall County, Nebraska, described as beginning at a point 80 feet East of
<br />the Northwest corner of Lot Sixteen (16), in said Block Three (3), thence running East
<br />Sixty (60) Feet thence running South Eighty Five (85) Feet; thence running West Sixty
<br />(60) Feet, thence running North Eighty Five (85) Feet to the place of beginning.
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<br />together with all the tenements, hereditaments and appurtenanL-es 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 aceessories thereto, pumps,stoves,
<br />refrigerators, and other fixtures and equipment now or hereafter a!lached to or used in connection with said real estate.
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<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 ofS 17,600.00 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, ,evenues and income to be derived from tile mortgaged premises during such time as the mortgage indebtedness sh.ill 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 colleeting rentals thereflOm; the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness; these rights of t he mortgagee may be exercised at any time during the existence of such
<br />default, irrespeclive of any temporary waiver of the same.
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<br />These P,esents, however, are upon the Condilion, That if the said Morlgagor 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 eaeh and every month ,until said loan is fully paid; pay all taxes and assessments levied against said premises and on this Mortgage
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<br />and the Bond secured thereby, before delinquency; furnish applOved insurance upon the buildings thereon in the sum of S 17,600.00 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 flOm 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 condilions of the Bond for S 17,600.00 Ihis day given by the said Mortgagor to said ASSOCIA nON, and comply
<br />with all the requirements of Ihe Constitution and By-Laws of said ASSOCIATION; then these presents shall become null and \'Oid, otherwise they
<br />shan remain in full fmce 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 monlhs 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 />secu,ed shall, at the option of The Equitable Building and Loan Association of Grandlsland,Nebraska, become immediately due and payable without
<br />further notice, and the amount remaining due under said bond, and any olher bond for any additional advances made thereunder, shall, from the
<br />date of exercise of said option, bear interest al the maximum legal rate, and Ihis mortgage may then be foreclosed to satisfy the amount due on said
<br />bond, and any olher bond for addilional advances, together with all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br />Nebraska for insurance, laxes and assessments, and abstracting extension charges, with interest thereon, from date of payment al the maximum
<br />legal 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 10 the
<br />make,s of said Bond, their assigns or successors in interest, which sums shJlI be within the security of this mortgage the same as Ihe 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 />" o~lnuary A,O..1988
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<br />STATE OF NEBRASKA,l ss.
<br />COUNTY OF IIALL f
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<br />On this
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<br />26th
<br />
<br />day of
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<br />January
<br />
<br />19 88 . before me,
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<br />
<br />Sadie A. Scheel, an unmarried person
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<br />who is
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<br />personally known to
<br />a/Ill she severally
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<br />the undersigned. a Notary Public in and for said Cuunty, IlCrsonallycame
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<br />me to be the identical person whose name is affixed 10 the above instrument as mortgagor
<br />acknowledged Ihe said instrumenlto be he r voluntary act and deed,
<br />WITNF.',S my hand and Notarial Seal th,' dale afmesa;d,
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<br />1l>7~ZM III
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<br />My Commission expi/cs 1/ 'c:/:~~" , ,v: f
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<br />6C11W. ''''AlIY .1.... II ".....h
<br />JOANNE Q, ROUSH
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