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<br />88-100812
<br />
<br />MORTGAGE
<br />
<br />MORTGAGE LOAN NO. L 24987
<br />
<br />KNOW ALL MEN IlYTIIESEI'RESENTS: That Franklin D. Hoage and Merna M. Hoage, each in his and her
<br />own right, and as spouse of each other,
<br />
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Twe 1 ve Thousand and no / I 00 --------------------------------------------------------DOL,LARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 120 shares of stock of
<br />
<br />said ASSOCIATION, Certificate No. L 24987 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Nine (9), Block One (I), in Claussen's Country View Addition to the City of Grand
<br />Island, 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, 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 does hereby agree th:;t 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 $ 12,000.00 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 uf the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />mortgagee all the rents, revenues and int;Ome 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 necessary
<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 said ASSOCI A nON 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 $ 12,000.00 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; pennit no waste on said premises; keep and comply
<br />
<br />with all the agreements and conditions of the Bond for $ 12,000.00 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 ASSOCIA nON; 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 ASSOCIA nON 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 IsI2JId, 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 t.he
<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 />legal rate.
<br />
<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 deht not to exceed at any time the original amount of this mortgage.
<br />
<br />l
<br />
<br />~rte~ ~11 day of February
<br />
<br />~~~
<br />un'lin D. Hna~
<br />7?U4A<~ Jtj _~
<br />Merna M. Ho&ge
<br />
<br />STATEOfM~,l ss.
<br />COUNlY OF H~t.L ~
<br />. WO'l1-i amson Ca rr; e B Shan ks th~ undersigned, a Notary Public in and for said County, personally came
<br />Franklln . l'Wage and Merna M. Hoage, each ln hlS and her own
<br />right, and as spouse of each other, """"',,,,, who are personally known to
<br />me t6 be the identical persofli whose namlS . a re","'\~ ~~'1.~~~ldI,~ve '1strument as mortgagur s. and t hey severally
<br />acknowledged the said instrument to be the 1 r ~llqlti'lt-IkW.~aHIf~el!.vL- "'l' ef ~...
<br />WITNESS my hand and Notanal Seal ~eCJaf~ 1f!lL~ 'C' \ t,;: ~ l t ~ 'J1, i
<br />
<br />My Conul1IsslOn expires 1'1-/ 0 61~o !\ ~/~( ,'- .;.,: :, UlVUt I {1 . ...w..
<br />-. '. 01' . -- olary J'ublic
<br />..JB.1M AI .....,... D...~ 1. pI R\{.l,." (..: .........
<br />"'" f:(~"~::' \,{~ ,........
<br />
<br />'tl,'~fl't':.I.'.....'
<br />
<br />A. D., 1988
<br />
<br />,-
<br />
<br />On this
<br />
<br />11th
<br />
<br />day of
<br />
<br />February
<br />
<br />19 88 ,before me,
<br />
<br />~,
<br />
<br />..
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