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<br />88-10350S
<br />
<br />MORTGAGE
<br />
<br />MORTGAGE LOAN NO. L 25,073
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: That Richard E. Pfeil and Lisa L. Pfeil, each in his and her
<br />own right, and as spouse of each other,
<br />
<br />Mortgagor. whether one or more, in consideration of the sum of
<br />Seventeen Thousand Six Hundred and no/IOO ----------------------------------------DOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon I 76 shares of stock of
<br />said ASSOCIA nON, Certificate No. L 25,073 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Eight (8), Block Eight (8), in the Village of Doniphan, Hall County, Nebraska.
<br />
<br />together wilh all the tenements, hereditaments and appurtenances thereunto belonging. including attached floor coverings, all window sereens.
<br />window shades, blinds, storm windows, awnings, heating, air conditioning, and plumbing and water equipment and accessories thereto, pumps. stowes,
<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 shall and will pay all taxes and assessmenu levied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent: to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S ] 7 ,600.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies 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 lhe terms and conditions of this mortgage or the bond secured hereby. the mortpaee shall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and seU owr 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 />unpaid; and the mortgagee shall have the power to appoint any agent or agents iI may desire for the purpose of repairing said premises and renting
<br />the same and collecting the rents. revenues and income, and it may payout of said income all expenses of repairing said premises and nec:essuy
<br />commissions and 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 mortgagee may be exercised at any time during the existence of sudI
<br />defaull, irrespective of any lemporary waiver of the same.
<br />
<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 Bond 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 premisel and on this Mortgage
<br />
<br />and the Bond secured thereby. before delinquency; fumish approved insurance upon the buildings thereon in the lum of S 17,600.00 payable
<br />to said ASSOCIATION: repay to said ASSOCIATION upon demand all money by it paid for such taxes, auessments and inllUfBnce with interest at
<br />the maximum legal rate thereon from date of payment all of which Mortgagor hereby agrees to pay: permit no wute on said premises:keep and comply
<br />
<br />with all the agreements and conditions of the Bond for S I 7 ,600 . OOthis day given by the said Mortgagor to said ASSOCIA nON, and comply
<br />wilh all the requirements of the Constitution and By-Laws of said ASSOCIATION: then these presents sha1I berome null and \'Oid. otherwile 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 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 owner~hip 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 immediately due and payable without
<br />further notice, 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 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 alllums paid by said The Equitable Bunding and Loan Aaoclation of Grand Island,
<br />Nebraska for insurance, taxes and assessments, and abltracting extension charges, with interest thereon, from date of payment at the maximum
<br />lepI rate.
<br />
<br />As rrovided in the Bond secured hereby, while lhi. mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers 0 IBid Bond, their assigns or successors in interest. which suml shall be within the security of this mortgage the same as the fundi originally
<br />secured thereby, the total amounl of principal debt not to exceed at any time the original amount of this mortgage.
<br />
<br />cf?J4~'
<br />
<br />
<br />STATE OF NEBRASKA. t u.
<br />COUNTY OF HALL ~
<br />
<br />June
<br />
<br />A. D.. 1988
<br />
<br />On this
<br />
<br />27th
<br />
<br />day of
<br />
<br />June
<br />
<br />19 88 . before me,
<br />
<br />Richard E. Pfeil and Lisa L.
<br />and 8S spouse of each other
<br />me to be the Identical perlOn s whOle name 5 are affixed tll the above lrntrument a. mortgagor S
<br />acknowledged the tald instrument to be the i r voluntary let and deed.
<br />WITNESS my bnd and Notarial Seal lhe date doreuld,
<br />My Commission expires //-",<.!J' opt
<br />
<br />the undenlllned, a Notary Public in and for said County. personally came
<br />Pfeil, each in his and her own right, who
<br />are personally known to
<br />
<br />and they
<br />
<br />srverally
<br />
<br />a/'//~ '\
<br />
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<br />, zg ..!J::..__....Z.-44-~i..Ll- r------
<br />, Notary l'uvllc
<br />
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<br />
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