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<br />MORTGAGE
<br />
<br />88-
<br />
<br />103435
<br />
<br />MORTGAGE LOAN NO. L 25,072
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: That Thomas M, Stepp and Rita M. Stepp, each in his and her
<br />own right, and as spouse of each other,
<br />
<br />Mortgagor, whether one or more, in consideration of Ibe sum of
<br />Thirty Six Thousand and no/IOD ---------------------------------------------------DoLLARS
<br />
<br />loaned 10 said morlgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Morlgagee. upon 36Qhares of stoclt of
<br />said ASSOCIATION. Certificate No. L 25 ,072 . do hereby grant, convey and mortgage unto the said ASSOCIA nON the following
<br />described real eslate. situated in Hall Counly, Nebraska:
<br />
<br />SEE EXHIBIT "A"
<br />
<br />loplher with all the tenements, hereditamenlS and appurtenances thereunto belonging. including anached floor co'r1:rings, all window saeclll,
<br />window Shldes, blinds, Slorm windows, awnings, heating, air conditioning, and plumbing and water equipmenland accessories thereto.pumps,5toves,
<br />refrigerltors, and olher fixtures and equipment now or hereafler attached to or used in conneclion with said real estate,
<br />
<br />And whereas the said mOrlgagor has altreed and does hereby.agree Ihat the mortgagor shall and will pay all laxes and assessmenu levied or
<br />usessed upon said premises and upon this mortgage and the bond sccu~d th~eby ~fore lhe same shall become delinquent; to furnish approved
<br />insurance upon lhe buildings on laid premises situated in lhe sum of S .16. UuO. OU payable to said ASSOCIATION and to deliver to said
<br />ASSOCI A TION lhe policies fOI said insurance; amI nOI to commit or permi! any waste on or aboul said premises;
<br />
<br />In case of defaull in Ihe performance of any of the terms and condilions of this mortga8C or the bond secured hereby, the mortgagee shall.
<br />Oll demand, be enlilled to immediate possession of the mortgaged premises and Ihe mortgagor hereby assigns, transfen and lets over to the
<br />morlpace alllhe renll, revenues and income to be derived from the mortgaged premises during such time as Ihe mortpp iAdebtedness shall remain
<br />unpaid; and the mortgagee shall have the power 10 appoint any agent or a8Cnls il may desire for the purpose of repairing said premiaes and rentin&
<br />lhe sa'lW and colleeling the renls, revenues and income, and il may payout of said income all expenses of repairilll said premiJes aDd neaaary
<br />commissions and expenses incurr~d in renting and managing the same and of collecting rentals therefrom; the balan~ remaining. if Iny, to be
<br />applied loward the discharge of said morlgage indebledness; Ihese rights of the mortgagee may be exercised al any time durin8the existence of such
<br />default, irrespective of any temporary waiver of lhe same.
<br />
<br />These Presents, however, are upon lhe Condition, Thai if Ihe said Morlgagor shall "pay said loan 011 or before the malurily of said shares by
<br />payment; pay monlhly 10 said ASSOCIATION of lhe sum specified in the 80nd secured hereby as IIlleresl and principal on said loan, on or before
<br />lhe Twentielh day of each and every monlh. unlil 'lid loan is fully paid; pay alltu.es and assessments levied againsl said premises and on this MOfl8lle
<br />
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon lhe buildings thereon in the sum ofS 36,000,00 payable
<br />10 said ASSOCIATION; repay 10 said ASSOCIATION upon demand all money by it paid for such taxes, assemnents and insurance with interest al
<br />Ihe maximum legal rale thereon from due of payment all of which Mortgagor hereby agrees 10 pay; pennit no waste on said premises; keep and comply
<br />
<br />with alllhe agreemenls and conditions of the Bond for S 36,000,00 thiJ day gIVen by Ihe said Mortgagor 10 said ASSOCIATION. aDd comply
<br />with alllhe requirements of Ihe Conslllulion and By.Laws of said ASSOCIATION; then these presenls shall become null and void,olherwiJe they
<br />shall remain in full force and may be foreclosed at the option of Ihe said ASSOCIATION after failure for three months to mike any of said
<br />payments or be Ihree monlhs in arrears in making said monthly payments, or to keep and comply with the agree menU and conditions of said Bond;
<br />and Mortgagor afllees 10 have a receiver appointed forlhwilh in such foreclosure proceedings,
<br />
<br />If there is Iny change in ownenhip of Ihe real ClUlte mortgaged herein, by sale or otherwise, Ihen lhe enlire remaining indeblednea hereby
<br />~ured shall, allhe option of The Equilable Building and Loan Associalion of Grand Island. Nebraska. become immediately due and ~yable \\ilhoul
<br />further nolice, and lhe amoWll remaining due under said bond, and any olher bond for any addilionaladvances made Ihereunder,lha1I. from the
<br />dale of exeleise of said oplion, bear inlerest allhe maximum lega] rate, and this mortga8C may lhen be foredoled to salisfy the amount due on said
<br />bond , and any other bond for additional advances, logether wilh all sums paid by said The Equilable Building and Loan Auocialion of Grand IsIan~
<br />Nebraska for insurance, lues and IS&essmenls, and abslracllng exlension charges, wilh inlerelt thereon, from dare of payment al the maximum
<br />Jepl rale.
<br />
<br />As frovided in the Bond secured hereby, while this morlgage remains in effect the mortpgee may hereafler advance additional sums to the
<br />makers 0 said Bond, their assigns or succeuon in interest, which sums shall be within the security of this mortgage the same as the funds originally
<br />..cured thereby, Ihe total amounl of principal debl nol to exceed al any time the original amounl of lhis morrgage,
<br />
<br />~ 27th . dayof June A,O"I988
<br />
<br />
<br />, M,~PP
<br />
<br />
<br />K TA M. STEPP
<br />
<br />STATE Ofl NEBRASKA.l u.
<br />COUNTY OF If ALL {
<br />
<br />On this
<br />
<br />27th
<br />
<br />day of
<br />
<br />June
<br />
<br />1988
<br />
<br />, befOl'C! me,
<br />
<br />Thomas M, Stepp and Rita H. Stepp, each in
<br />and as spouse of each other,
<br />me to be lhe l~nUcal perton 8 ",hate nlme Bare .mxod to lhe above Inllrumenl as morlgalUf S
<br />
<br />acknowledttd Ihe IIld In~lrumenl 10 be the i r voluntary act and deed,
<br />WlTNESS my hand and Nolarlll Seal Ute dale Hfure~.ld
<br />
<br />My Commission npJres 9~ /- i' f'
<br />
<br />(J:lVti\i1
<br />
<br />lhe undersigned, I NOlary Public In lnd for said County, pertonall)' came
<br />his and her own right, who are penolllllyknowllto
<br />
<br />. 1,111 It
<br />
<br />end t hey ~\'l!ral1)'
<br />
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