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<br />88- 101039
<br />
<br />MORTGAGE
<br />
<br />r
<br />
<br />MORTGAGE LOAN NO. L 24993
<br />
<br />KNOW ALL MEN BY TIIESE PRESENTS: ThaI
<br />and her own right, and as
<br />
<br />Chris A. Stahl
<br />spouse of each
<br />
<br />and Lorie A. Stahl, each
<br />other,
<br />
<br />in his
<br />
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Nineteen Thousand Two Hundred and no/IOO -----------------------------DOllA~
<br />
<br />loaned to said mortgagor by The Equitable Building and Loa" Association of Grand Island, Nebraska, Mortgagee, upon I 9 2 shares of stock of
<br />
<br />said ASSOCIATION, Certificate No, L 24993 ,do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Five (5), Block Eleven (II), Original Town of Cairo, Hall County,
<br />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, healing, 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 that the mo;1gagor shall and will pay all taxes and assessments levied or
<br />assessed upon said premises and upon Ihis mortgage and the bond secured thereby before the same shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises sit uated in the sum of $ 1 9 , 2 0 0 . 0 0 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance; and nollo commit or permit any waste on or ?bout said premises;
<br />
<br />In case of default in the performan.:e of any of the terms and conditions of this mortgage or the bon~ secllIed 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 lO 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 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 Mort~
<br />
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S I 9 , 200 . 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 conditions of the Bond for $1 9 , 200 . o o 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 ASSOCIA nON after failure for three months to make any of said
<br />payments or be three months in arrears in malting said monthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />and Mortgagor agrees to hJ;ve a receiver appointed forthwith in such foreclosure proceedings.
<br />
<br />If there is any change in ownership of the reo.l 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 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 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 proyided in the. Bon~ secured hereby, w~ile this mortgage remains in effe~l the mort~gee ~y hereafter advance additional sums to the
<br />makers of saJd Bond, then asstgns or successors m mterest, which sums shall be Within the secunty of thIS mortgage the same as the funds originally
<br />secured thereby, th~ total amount of principal debt not to exceed at any time the original amount of this mortgage,
<br />
<br />1fJ<:::;;~;
<br />
<br />,Ole A. Stah
<br />
<br />STATE OF NEBRASKA, l ss.
<br />COUNTY OF HALL ~
<br />
<br />March
<br />
<br />A. D., 19 88
<br />
<br />r--
<br />
<br />On this 2nd
<br />
<br />day of
<br />
<br />March
<br />
<br />1<:138
<br />
<br />, before me.
<br />
<br />L
<br />
<br />the undersigned, a Notary Public in and for said County, personally came
<br />C h r i sA. S t a h 1 and Lor i eA. S t a hi, e a chi n his and her who
<br />own right, and as spouse of each other, /- I
<br />me to be the identical person s whose name s are affIXed to the above instnUnent a/ mortgagor s
<br />
<br />acJmowled~ed the said instrument 10 be the i r voluntary act and deed.
<br />
<br />WITNESS my hand and Notarial Seal the date aforesaid.
<br />
<br />are
<br />
<br />perronally known to
<br />
<br />and the y
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<br />
<br />severally
<br />
<br />My Commis.~lon expires
<br />
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