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<br />MORTGAGE
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<br />88-
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<br />102622
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<br />MORTGAGE LOAN NO.L 25040
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<br />KNOW ALL MEN BV TIlESEPRESENTS: That Carol A. Koch, an unmarried person
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<br />Mortgagor, whether one or more, in consideration of the IUDI of
<br />Thirtv-four Thousand EiRht Hundred and OO/OO---------------------------------------UOLLARS
<br />Iomed 10 said mortgagor by The Equil.2ble Building and Loan Associalion of Grand Island, Nebraska, Mortgagee, upon 348 shares of stock of
<br />said ASSOCIATION, Certificate No. L 25040 , do hereby granl, convey and mortgage unto the said ASSOCIATION the following
<br />described real eslale. silualed in naU Counly, Nebraska:
<br />Fractional Lot One (I), Fractional Block Twenty (20), Palmer's
<br />Subdivision of Lot Seven (7) of the County Subdivision of the
<br />Southeast Quarter of the Southwest Quarter (SE~SW~) of Section
<br />Sixteen (16), in Township Eleven (11) North, Range Nine (9) West
<br />of the 6th P.M., and its complement, to-wit: Fractional Lot One
<br />(I), Fractional Block Twenty (20), Kernohan and Decker's Addition
<br />to the City of Grand Island, Hall County, Nebraska.
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<br />tOl!"ther wilh all the lenements. hereditaments and appUflenant..,. thereunlll helonging, including atlached noor c:overings, all window screens,
<br />window shades, blinds, storm windows, awnings, healing, a" condihoning.and plumbing and waterequipmenland accessoriesthereto,pumps,S1OYCS,
<br />refrigerator., and olher f",lures and equipmenl now or hereafler aluch.d to or lI5Cd in conneclion with said real eslate.
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<br />And wh...... lhe said morlgagor hu weed and due. hereby agree Ihal Ihe mortgagor shall and will pay all laxes and usemneots IeW:d or
<br />.....,...,d upon said premises and upon this morlgage and Ihe bond secur~d llteLeby before Ihe same shall become delinquenl; 10 furnish a~
<br />insurance upon Ihe buildings on said premise. silual.d in lhe .um of S 34, t:lOu . uO payable 10 said ASSOCIATION and to defuoer to said
<br />ASSOCIATION the policies for said in.urance; and nollo commil or permil any wasle on or aboul said premise.;
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<br />In case of defaull in Ih. performance of any of lhe lerm. and conditions of this morlgage or Ihe bond secur.d liereby, the mortgagee shall,
<br />on demand, be entitl.d 10 immediale po.....ion of the morlgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />mortgagee all the rent., revenues and income 10 be derived fwm the mortgaged premise. during such time as Ihe mortgage indebledness shaI1 remain
<br />un~d; and Ihe mortgagee shaD ha"" lhe power to appoint any ageD! or agenls il may desire for the purpose of repairing Did premiso:s and renling
<br />lhe same and collecling the rents, revenue. and income, and il may pay oul of said income all expenses of repairing said premises ;nd ncccSlll}'
<br />commission. and expenses incurred in renting and managing the same and of collecling renlals tllerefrom; the balance reOllining, if any, to be
<br />applied toward the discharge of said morlgage indebledness; Ihese righl' of lhe mortgagee may be exercioed at any time during the exislence of such
<br />default, irrespective nf any lemporary wai""r of Ihe SlIIt1C.
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<br />These I'1esents, however, are upon Ihe Cnndition, That if Ih. ,,"d Morlgagor shall repay said loan on or before Ihe malurily of said shares by
<br />paymenl; pay monlhly 10 said ASSOCI A TlON of Ihe sum specified in Ihe Bond secured hereby a. inl.resl and principal on said loan, on or before
<br />lhe Twentieth day of each and ewry monlh, unlil said loan i. fully paid; pay allraxe. and lI5SCssmenlslevied against uid premisennd on this MortPBC
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<br />and Ihe Bond secured thereby. before delinquency; furnish approved insurance upon the buildings Ihereon in Ihe .um of S 34.800.00 payable
<br />10 said ASSOCIATION; repay 10 said A.'iSOCIA TION upon demand all money by il paid for such laxes, assessments and in.urance with inlerest at
<br />Ihe maximum legal rate thereon flOm dale of payment all of which Morlgagor hereby agrees 10 pay; permil no waste on said premisl:s; keep and comply
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<br />with all the agreemenl. and conditions of lh. Bond for S 34.800.00 Ihis day given by the said Mortgagor 10 said ASSOCIATION, and comply
<br />with all the requirement. of Ihe Constilution and By.Laws of said ASSOCIATION; then these presenls shall become null and void, otherwise they
<br />shall remain in fuD force and may be foreclosed allhe oplion of Ihe said ASSOCIATION after failure for three months to make any of said
<br />payments or be Ihree monlhs in arrears in making said monthly payments, or to keep and comply with Ihe agreem.nts and conditions of uid Bond;
<br />and Mortgagor agrees 10 have a receiver appoinled forthwith in such foreclosure proceedings.
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<br />If Ihe,e is any change in ownership of the real estale mortgaged herein, by sale or otherwise, then the entire remaining indeblednea bereby
<br />secured shall, allhe oplion of The Equitable Building anti Loan Association of Grand Island, Nebraska,become immedi:!tely due and payable without
<br />further nOlice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, draU, from the
<br />dale of exercise of said oplion, bear interest al the maximum legal rale, and Ihis mortgage may then be foreclosed to satisfy Ih. amount due on said
<br />bond, and any other bond for addilionlll advances, togelher with all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br />Nebraska for insurance, laxes and assessments, and abstracting e"tension charges. with inleresl Ihereon, from dale of payment al the maximum
<br />IepJ rate.
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<br />As provided in the Bond secured hereby, while this mortgage ",mams in errecl Ihe mortgagee may hereafl.r advance additionallllllllS to the
<br />makers of uid Bond. their assigns 01' successors in interesl, which sums shall be within the securily of this mortgage the same as the funds originally
<br />secured thereby, the tolal amount of principal debl not 10 exceed at any time the original amounl of this mortgage.
<br />
<br />\ Daled this 20th day of May A, D., ]988
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<br />caromOCh~ \(.~
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<br />l
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<br />STATE OF NEBRASKA,l ...
<br />COUNTY OF If ALL ~
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<br />Onlhis
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<br />20th
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<br />day of May
<br />
<br />19 88 ,before me,
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<br />the undersigned. I Notary Public in and for said Counly. personally carne
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<br />Carol A. Koch, an unmarried person
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<br />who
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<br />is
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<br />personally known to
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<br />rJ)Ie to be the idtn\ial perSilm whose name is latTued tu the above instrumenl as mortgago.
<br />odtnowledged Ihe ..id In.Humenl to be he r volunlary acl and de.d,
<br />W1'f1\lf.SS my hand ond Nol.ri11 Se.llhe d.le .fnresaid.
<br />Poly CODlmiroon ."pir.. / /.,;{.!: --J',r
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<br />and
<br />
<br />is
<br />
<br />ltMMII9t X
<br />
<br />""Dla.
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<br />Nolary l'ublic
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