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<br />I
<br />
<br />MORTGAGE
<br />
<br />88- 101889
<br />
<br />MORTGAGE LOAN NO, L 25009
<br />
<br />ADD'L
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: That Kenneth R, Hodtwalker and Ruth L. Hodtwalker, each 1n
<br />his and her own right, and as spouse of each other,
<br />
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Twelve Thousand and nollOO ---------------------------------------------------------nOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Luan Association of Grand Is]and, Nebraska, Mortgagee, upon 120 shares of stock of
<br />said ASSOCIATION, Certificate No. L 25009 ADDL. do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described rea] estate, situated in Hall County. Nebraska:
<br />
<br />Lot Twelve (12), Ross and Ashton Park Subdivision in the City of Grand Island, Hall
<br />County, Nebraska,
<br />
<br />together with all Ihe tenemcnts, hcreditaments 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 rea] 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 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 SUIII of S 12,000.00 payable to said ASSOCIA TlOj'l 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;
<br />
<br />In case of default in Ihe 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 of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />mongagee all the renlS, revenues and income to be derived from the mortgaged premises during such time as the morlgage 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 incolIle a1l expenses of repairing said pre"lises 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 Bund 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; r urlllsh approved insurance upon the buildings thereon in the sum of S I 2 ,000.00 payable
<br />to s:J.id 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 rhereon from date of payment all of which Mortgagor hereby agrees 10 pay; permit no waste on said premises; keep and comply
<br />
<br />with all the agreements and conditions of the Bond for S 12,000,00 this day given by the said Mongagor to said ASSOCIA nON, and comply
<br />with all the requirements of the Constitution and By-Laws of said A.SSQCIATION; then these presents shall becom" 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 llll'llthly 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 Ihere 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 />furlher notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shaH, 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 fOf 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 c1l31ges, with interest thereon. from date of payment at the maximum
<br />legal rate.
<br />
<br />. . As provided in the Bond secured hereby. while Ihis mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond. theh assigns or successors in interest. which sums shall be wilhin 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.
<br />
<br />Apri 1 A, [)" 19 88,
<br />
<br />~.r;Jlip ;;~Of
<br />g~~~~V~~~r~~j?AJ
<br />
<br />Ruth'L. Hodtwalker
<br />STATE OF NEBRASKA,l $S.
<br />COUNTY OF HALL i
<br />
<br />On this
<br />
<br />II th
<br />
<br />day or
<br />
<br />April
<br />
<br />]9 88
<br />
<br />. before me,
<br />
<br />the undersigned, a Notary Public in and for said County, personaHy came
<br />Kenneth R. Hodtwalker and Ruth L, Hodtwalkcr. eacll in his and
<br />who
<br />her own right, and as spouse of each other
<br />me to be lhe identical person s whose name s arc afnxed to the above inStrlHllcniBj mortgagor 5 and the y severally
<br />
<br />acknowledged the said instfllment to be the i r VO]Ulltar y act and deed. / --'/
<br />WITNESS my l\Jnd and Notarial Seallh(' dat~ arornuld . .~ ~<>/
<br />
<br />M)' COlllmiisioll eJIpire. C:; I J'I . ./ 1 L-/;?/.J" ~'/ .,'''' <;;'
<br />
<br />:;., ,.' ~ __.J,~.LL '-""C_~'~~~~ITc-
<br />
<br />are
<br />
<br />personally known to
<br />
<br />'.I,Ut RI
<br />
<br />
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