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<br />MORTGAGE
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<br />MORTGAGE LOAN NO. L 24,985
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<br />KNOW ALL MEN BY ll1ESE PRESENTS: That Donald R. Mason, an unmarried person,
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<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Ten Thousand and no/lOa ----------------------------------------------------------DoLLARS
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<br />loaned to said mortgagor by The Equitllble Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 100 shares of stock of
<br />said ASSOCIATION, Certificate No. L24 ,985 , 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 />The North Half (N1) of Lot Five (5), in Block Eighty Five (85), in Wheeler and Bennett's
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<br />Fourth Addition to the City of Grand Island, Hall County, Nebraska.
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<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached noor coverings, all window screens,
<br />window shades, blinds. storm windows, awnings, heating. au 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.
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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 approved
<br />insurance upon the buildings on said premise. situated in the sum of S 10,000.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCI A TION 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 mediate 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 tP.ay 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 tentals 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 montWy 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 momh. 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 apprO\'Cd insurance upon the buildings thereon in the sum of S 10 ,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 agreements and conditions of the Bond for $ 10,000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By-Laws of 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 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 Mortgagot 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 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 trulde 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 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 />IegaI 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 />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
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<br />~Da:tl; 16th day of
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<br />II w It-m~/
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<br />Donald R. Mason
<br />
<br />February
<br />
<br />A. D_. 1988
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<br />,-------
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<br />STATE OF NEBRASKA,l ss.
<br />COUNTY OF IlALL ~
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<br />On this
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<br />16th
<br />
<br />day of February
<br />
<br />1988
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<br />, before me.
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<br />L
<br />
<br />Donald R. Mason, an unmarried person
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<br />the undersigned. a Notary Public in dIld for said County. personally came
<br />is
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<br />who
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<br />personally known to
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<br />me to be the identical person whrne name is
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<br />admowledged the said instrument to be his voluntary act and deed.
<br />WITNESS my hand and Notarial Seal the date aforesaid.
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<br />My Commission expires 9) / f 0'
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<br />IlHr.tN HI ~ .,"C.u.~
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<br />s mortgagor
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<br />and
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<br />he
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<br />severally
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<br />N ry lie
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