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<br />I
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<br />88.-~, 101568
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<br />MORTGA(;(~
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<br />MORT(jAGE LOAN NO. L ') '1001
<br />KNOWALLMENUYTIlESEl'RESENTS:That L. Michael Royle, an unmarried person,
<br />
<br />Mortgagor, whether one or more,in considr.ratlon of the sum of
<br />Seven Thousand Two Hundred and no/IOO -------~----------------------------------~~OLLARS
<br />
<br />loaned to said 11\0rlgagur by The E'luitable Building and Loan Association of Grand Island. Nebraska, Mortgagee, upon 72 shares of stock of
<br />said ASSOCIATION, Certificat'.! No. L 25001 . do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in lIall County, Nebraska:
<br />
<br />The Easterly Fifty and Eight Tenths Feet (ESO.B') of the Northerly Forty-Two and One-Half
<br />feet (N42.5') of Lot Ten (10), in B:ock Seventy"Tbree (73), in Wheeler and Bennett's
<br />Third Addition to the City of Grand island, Hall County, Nebraska.
<br />
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including altached Ooor 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 altached to or used in connection with said real esute_
<br />
<br />And whereas the said mortgagor ha~ agleed and docs hereby agree thaI 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 sit uated in Ihe snm of S 7 200.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIA TION the policies fOI said inslllance; and not to commit or permft any waste on 01 about said premises;
<br />
<br />In case of default in the performance of aOlY of the terms and conditions of this mortgage Of 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, rel'enues 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 01 agents it may desire for the purpose of repairing said premises and renting
<br />the same and collecting the Icnts, rel'enues and income, and it may payout of said income all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in lenling and managing the same and of collecting rentals therefrom; the balance remaining, if any, to be
<br />applied toward the dischargl' of said mortgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence of such
<br />default, ir,especlive of any tempor;HY 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 1lI0011hly tn said ASSOCIATION of the sum specified in the Bond secured hereby as interest and plincipal 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 Ihe buildings thereon in the sum of S 7,200.00 payable
<br />to said ASSOCIATION; rcpilY to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insurance with interest at
<br />the maximum legalralc thereun fmm dale of payment all of which Mortgagor hereby agrees 10 pay;permit no waste on said premises; keep and comply
<br />
<br />wilh all the agreements rind conditions of the Bond for S 7,200.00 this da}' given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Conslitution and By.Laws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shall remain in full force and lIIaY be fort<c1osed at the option of the said ASSOCIATION after failure for three months to make any of said
<br />paymenls or be three lIIonths in arrears inll1aking said IlIonthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />and Morlgagor 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 Island, Nebraska, become immediately due and payable without
<br />further nolice, and the amount lemaining due under said bond, and any other bond for any additional advances made thereunder, shall, from the
<br />dale of exercise of said option, bear interest at the maximum legal rate, and this mortgage lIIay 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, Iheir assigns or succcssors in intelest, which slims shall be within the security of this mortgage the same as the funds originally
<br />secured hereby, the total amount of principal debt not to exceed at any lime the original amount of this mortgage.
<br />
<br />
<br />28th
<br />
<br />A. D., 19 88
<br />
<br />5T ATE OF NEBRASKA, t
<br />5S.
<br />COUNTY OF HALL
<br />
<br />On this
<br />
<br />28th
<br />
<br />day of
<br />
<br />March
<br />
<br />1988 ,before me,
<br />
<br />the undersigned. a Notary Public in and for said County, personally came
<br />
<br />L. Michael Royle, an unmarried person
<br />
<br />who
<br />
<br />is
<br />
<br />personally known to
<br />
<br />me to he the identical ~rson whose lIame is affixed to the above instrument as Il\orlgagor
<br />acknowledged the 1\8.ld instrument 10 be his voluntary act and deed.
<br />WITNESS my hand and Notarial Scallhc date aforesaid.
<br />My Commission expires /I'~.;{ 5-Y i'
<br />
<br />and he se\'erally
<br />
<br />S I.~M ftl
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