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<br />100704
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<br />MORTGAGE
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<br />MORTGAGE LOAN NO. L
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<br />24983
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<br />KNOW ALL MEN BY THESE PRESENTS: That Gerald V. Wichman and Tarruny L. lEchman, each in his and
<br />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 />Twenty Thousand and no/IOO --------------------------------------------------------DoLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 200 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24983 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Six (6), in Block Five (5), of Koehler Place, an Addition to the City of Grand Island,
<br />
<br />Hall County, Nebraska.
<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, all conditioning, and plumbing and water equipment and accessories thereto. pumps. stoves,
<br />refrigerators, and other fixtures and equipment now or hereafter attached to or IIscd in connection with said real estate.
<br />
<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 premi5es and upon this morteage and the bond 5ecured thereby before the same shall become delinquent; to furnish approved
<br />insUI3nce upon the buildings on said premises situated in the sum of S 20,000.00 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 terr.IS 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, ant! it may payout of said income all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting ant! 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 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 20,000.00 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
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<br />with all the agreetmnts and conditions of the Bond for S 20,000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By-Laws of satd 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 S2id ASSOCIATION after failure for three months to make any of said
<br />payments or be three months in arrears in making said monthty payments, or to keep and comply with the agreements a.lld conditions of said Bond;
<br />and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings,
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<br />If tbere is any change in ownership of the real estate mortgaged herein, by sale or othelWise. 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 amoWIt 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 this mortgage may then be foreclosed to sati..ry 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 />\egaI rate.
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<br />As provided in the Bond secured hereby, while this mortgage remains on effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, their assigns or successors in interest, which sums shnll be within the security of this mortgage the same as the funds originaliy
<br />secured thereby, the total amount of principal debt not to exceed at any time Ihe original amount of this mortgage.
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<br />Dated this
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<br />day of
<br />
<br />February
<br />
<br />A, D" 19 88
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<br />
<br />,--
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<br />On this
<br />
<br />9th
<br />
<br />day of
<br />
<br />February
<br />
<br />1988 ,before me.
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<br />the undersigned, a Notary I'ublic in and for said County, personally came
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<br />Gerald V. Wichman and Tarruny L. Wichman, each in his and her own wllo
<br />are personally known to
<br />right, and as spouse of each other, .
<br />me to be the identical person s whose na~e s are affixed to the above inslrument 7rtgagQl s
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<br />adc.nowledged the said instnunent to be the 1 r voluntaty act alld deed, /
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<br />WITNESS my hand and N(!~ial Seal the ~ aforesaid, '
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<br />and they
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<br />severally
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