|
<br />88-10267/1
<br />
<br />MORTGAGE
<br />
<br />MORTGAGE LOAN NO. L 25046
<br />
<br />KNOW ALL MEN BYTIlESEPRESENTS' That Michael D. Sich and Nancy E. Sich, each in his and her
<br />own right, and as spouse of each other,
<br />
<br />Mortgagor, whether one or mort, in consideration of the sum of
<br />Thirty Two Thousand and no/lOO ---------------------------------------------------OOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 320 shares of stock of
<br />
<br />said ASSOCIATION, Certificate No, L 25046 ,do hereby granl, convey and mortgage unto the said ASSOCIATION the following
<br /><kscribed real estate, situated in Hall County, Nebraska:
<br />
<br />The ~esterly Forty-Four (44) Feet of Lot Five (5), in Block Two (2), in Wiebe's
<br />Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />together with all the [enements, hereditaments ami appuflenances thereunlu belonging, including attached 1100r coverin~, all window screens,
<br />window shades, blinds, stonn windows, awning5, heating, au conditioning, and plumbing and water equipment and accessories thereto,pumps,_,
<br />refrigeralors, and other fixtures and equipment now or here3fter all ached In or used in connection with said real estate.
<br />
<br />And whereas Ihe said mortgagor has agreed and does hercby agree lhat the mortgagor shall and will pay all taxes and assessmenls levied or
<br />assessed upon said premises and upon this mOrlgage and the bond secured thereby before Ihe same shall become delinquent; 10 fumislt approved
<br />insurance upon Ihe buildings on said premise. situaled In the sum of S 32,000.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIA nON the policies for said jnsurance~ and not to l.."Ommilur permit any waste un ur about said premises;
<br />
<br />In case of default in the performance of any uf the terms allll couditlOn, or this mortgage or the bund secured hereby, the mortgagee shall,
<br />on demand, be entilled to immediate possession uf the murlgaged "remi.es and Ihe murtgagor hereby assigns, lransfers and sets ower 10 the
<br />morlgagee all the renls, revenues and income 10 be derived fromlhe mOrlgaged premise. during such time as the mortgage indebtedness shall remain
<br />unpaid; and the morlgagee shan have Ihe power to appoinl any ageut or agenl. it may desire fnr the purpose of repairing said premises and renting
<br />the same and collecting the rents, revenues and income, and il may pay oul of said income all expenses of repairing said premises and necessaIy
<br />commissions and expenses incurred in renting and managing the same and of collecting renlals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness; these tlghls 01 Ihe mortgagee may be exercised at any time during the existence of such
<br />default, irrespective of any temporal)' waiver of the same,
<br />
<br />These Presenls, however, are upon the Condition, Thai if the saJd Mortgagur ,haU repay said loan on or before the maturity of said shares by
<br />paymenl; pay monthly to said ASSOCIATION of the sum specified m the !lund secured hereby as interest and principal on said Inan, on or before
<br />the Twentieth day of each and eveI)' month, until said loan is fully paJd; pay alllaxe. and assessments levied against said premises and on this Mor1J!l8C
<br />
<br />and the Bond secured Ihereby, before delinquency; furnish approve,l insurance "1'0" the buildings thereon in the sum of S 32,000,00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand alllll\lney hy .t paid for such taxes, assessments and insurance with interest at
<br />the maximum legal rate thereon from date of paymenl all of wluch Mortgagor herehy agrees to pay; pennit no waste on said premises; keep and comply
<br />
<br />with all the agreements and conditions of the 80nd for S 32,000.00 IhlS day given hy the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and 8y,Laws of said ASSOCIATION; then these presenls shaJJ become nuD and void, otherwise they
<br />shall remain in full force and may be foreclosed at the optiun 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 munthly paymenls, or tu keep and comply wilh the agreements and conditions of said Bond;
<br />and Morlgagor agrees 10 have a receiver appointed forlhwith in such fUleclosure 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 bereby
<br />secured shall, at the option of The Equitable Building and Loan Assuciation ufGrand Island, Nebraska, become immediately due and payable without
<br />further nollce, and the amount remaining due under said bond, and any olher bond for any additional advances made thereunder, shall, from the
<br />date of exercise of said option, bear interest al the maximum legal rale, and this mortgage may then be foreclosed to satisfy the amounl due on said
<br />bond,and any olber bond for additional advances, togelher wilh all sums paid by said The Equitable 8uilding and Loan Association of Grand Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting cxlen.ion charges, with interest thereon, from date of payment at the maximum
<br />legal rale.
<br />
<br />As provided in the Bund secured hereby, while thi, mmtllage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, Iheir assigns or successors in illleresl, which sums shall be within the security of this mortgage the same as the funds originaUy
<br />llCCUred thereby, the total amounl of principal debl nut I u exceed at any t,me the original amount of this mortgage.
<br />
<br />~~3~:h
<br />
<br />ancy . ~c
<br />
<br />daY'Jf May
<br />
<br />/~~
<br />
<br />A, 0" 19 88
<br />
<br />STATE Or: NEBRASKA. f
<br />ss,
<br />COUNlY OF HALL
<br />
<br />On Ihis
<br />
<br />24 th
<br />
<br />day uf
<br />
<br />May
<br />
<br />1988
<br />
<br />, before me,
<br />
<br />Michael D. Sich and Nancy E. Sich,
<br />and as spouse of each other,
<br />me'to be the idenlic:al person S whose nameS are .afflXCd to the above instrument us mOl'lgngorS
<br />acknowlcd~ed the said ins.lrument to be the i r volunlary act and deed. ..'/' 7
<br />W1TNI,'SS illY hand and Notarial Seal the dale aforesaid, / / /'7
<br />My COlllrnl"'''1ll expires /I Pi',5- -/',/ LL4E.&71~ l,,~,
<br />/
<br />
<br />the undersigned, a Nulal)' Public in and for said County, persolUllly came
<br />
<br />
<br />each in his and her own right 'whu are personally known to
<br />
<br />and
<br />
<br />the Y severally
<br />
<br />...18.%" ftl
<br />
<br />IIIEUllrrAl1'- .,".. II 1I".lIk.
<br />*"HE G. ROUSH
<br />.. ClIII& Elf, ...., Z$. I.
<br />
<br />, ~~)
<br />(.J')h/'/A,/, ,
<br />Nn1ary Pubh~
<br />
|