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<br />88-
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<br />102103
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<br />MORTGAGE
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<br />MORTGAGE LOAN NO.
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<br />L?')018
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<br />KNOW ALL MEN BV TIlESEPRESENTS: That Jeffrey D. Lemke and Elizabeth A. Lemke, each in his
<br />and her own right, and as spouse of each other,
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<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Twenty six Thousand Four Hundred and no/IOO --------------------------DOLLA~
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nehraska, Mortgagee. upon 2 6 4 shares of stock of
<br />said ASSOCIATION, Certificate No. 1.. 25018 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Twenty Five (25). Block One (I). Knickrehm Addition to the City of Grand
<br />Island. Hall County, Nebraska.
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<br />together with all the tcncmcnts. hereditaments and appurtenances thercunto bclonging. 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 />rcfrigerators. and other fixturcs and equipment now or hereafter attached to or used in conneclion wilh said real estate.
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<br />And wh::~eas the said mortgagor has agrced and docs hereby agree that the mortgagor shall and will pay all taxes and assessments levied or
<br />assessed upon said prcmises and upon this mortgage and Ihe bond secured thereby before the same shan become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situatr.d in the sum of $ 26 , 400 . 00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCI^ 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 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 to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpa.id; and the morlgagee 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 rcnts, revenues and income, and it may payout of said income all expenses of repairing said premises and necessary
<br />commiuions ;md 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 mortgagec 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 monthly to said ASSOCIATION of the sum specified in the Hond 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; furniso; approved IOsurance upon the buildings thereon in the sum of S 2 6 , 400 . 00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insuflillcc 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 premisp.s;keep and comply
<br />
<br />with all the agreements and conditions of the Bond for S 2 6 > 4 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 ane3ls in making said monthly payments, or to keep and comply with lhe agreements and conditions of said Bond;
<br />and Mortgager agrees to have a receiver appointed forlhwith 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, Nebra>ka, 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 intcrest 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 Equilable Building and Loan Association of Grand Island,
<br />Nebraska for insurance, taxes and assessmcnts, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal 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 01 successors in interest, whir.h sums shall be within the sccllIity of this mortgage the same as the funds originally
<br />'secured thereby, the total amount of principal debt not to exceed at any lime lhe original amount of this mortgage.
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<br />this day of A p r i I A, n., 19 88
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<br />
<br />STA~E OF NEBRASKA.l ss,
<br />COUNTY OF HALL (
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<br />On lhis
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<br />25th
<br />
<br />day of
<br />
<br />April
<br />
<br />19 88 . before me,
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<br />L
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<br />lhe 'lIJdersigned, a Notary Public in and for said County. personally came
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<br />Jeffrey D. Lemke and Elizabeth A. Lemke, each io his and her own who are personally known to
<br />~ight. and as spouse of each other,
<br />me to be the identical persons whose names are affixed l') the above instrument;llt
<br />,.~,/
<br />acknowledged the said instrumentlo be the i r voluntary act ami deed,
<br />WITNESS my hand and Notarial Seal the date aforesaid.
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<br />My Commission expires ~ . / ~
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<br />t.1UM HI
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<br />J:-..........
<br />10' II. IIAIllY
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<br />and they severally
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