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<br />88- iO;~ri!65
<br />
<br />MORTGAGE
<br />
<br />MORTGAGE LOAN NO. L 2 5050
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: That Richard L. DeBacker and' Patricia M. DeBacker, each in
<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 />Fortv Eight Thousand Six Hundred and no/IOO ---------------------------------------~LLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and loan Association of Grand Island, Nebraska, Mortgagee, upon 486 shares of stock of
<br />said ASSOCIATION, Certificate No, L 2 5050 . do hereby grant, convey and mortgage unto the said ASSOCIATION the foDowing
<br />described real estate, situated in !faD County, Nebraska:
<br />
<br />Lot Two (2), Block Six (6), Woodbine Addition to the City of Grand Island, Hall County,
<br />Nebraska.
<br />
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached noor coverings, aD 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 real estate.
<br />
<br />And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shaD and will pay aD uxes and as>essments levied or
<br />assessed upon said premises and upon this mortgage anJ the bond secured thereby before the same shaD become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of $ 48,600. uO payable to said ASSOCIATION and to delM:r to said
<br />ASSOCIATION the polides for said insurance; and not to commit or permit any waste on or about said premises;
<br />
<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 shaU,
<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 morlgaged premises during such time as the mortgage indebtedness shaU remain
<br />IDlpaid; and the mortgagee shaD have the power 10 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 pay oul of said income aD expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance r:maining. 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 sw:b
<br />default, irrespective of any temporary waiver of the same_
<br />
<br />These Presents. however, are upon the Condilion, That if the said Mortgagor shall repay said loan on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIA TEON of the sum sped lied in the Bond secured hereby as interest and principal on said loan, on or before
<br />the Twentieth day of each and every monlh, 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 insur,mce upon the buildings thereon in the sum ofS 48,600.00 payable
<br />to said 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 thereon from date of paymenl all of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep and comply
<br />
<br />with all the agreements and conditions of the Bond for $ 48,600.00 this day given by the said Mortgagor 10 said ASSOCIATION, and comply
<br />with aD the requirements of the Constitution and By.Laws of said ASSOCIATION; then these presents shaD become nuD and void, otherwise they
<br />shall remain in full force and may be foreclosed at the option of lhe said ASSOCIA nON after failure for three months to make any nf said
<br />payments or be thr"" months in arrears in making said monthly 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 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 immedia~ly 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 interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the arnolDlt 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 />IegaI 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. their assigns or successors in interesl, which sums shall be within the secwity of this mortgage rhe same as the funds originally
<br />ereby, the total amount of principal debt not to exceed at any lime the original amount of this mortgage_
<br />I
<br />
<br />
<br />A_D_.19 88
<br />
<br />Patricia M.
<br />
<br />STATE OF NEBRASKA, l ss.
<br />COUN1Y OF HALL ~
<br />
<br />On this
<br />
<br />27th
<br />
<br />day of
<br />
<br />May
<br />
<br />19 88 ,before me,
<br />
<br />Richard L. DeBacker and Patricia M. DeBacker,
<br />own right, and as spouse of each other,
<br />n:v; to be the identical person s who", name s are
<br />
<br />aclulOwledged the said instrument to be the i r voluntary act and deed_
<br />
<br />WITNESS my hand and Notarial Seal lite date aforesaId
<br />
<br />My Commission expires q -1- flf
<br />
<br />the undersigned. a Notary Public in and for said County, personally carne
<br />each in his and her
<br />who are
<br />
<br />personaDy known to
<br />
<br />lo.75-m ftt
<br />
<br />,_ ..... III1111l11i1
<br />... .:oc.::~l,"
<br />
<br />
<br />as mortgagor 5 and the y
<br />
<br />
<br />
<br />w~~___
<br />
<br />~.ry Public
<br />
<br />severally
<br />
<br />I
<br />t.-.....
<br />
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