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<br />88- 1036~O
<br />
<br />MORTGAGE
<br />
<br />MORTGAGE LOAN NO. L 25084
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: That Kay E. Tracy and Robert W. Wagoner, 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 />Twenty Three Thousand Six Hundred and no/IOO --------------------------------------OOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan ASSOCIation of Grand Island, Nebraska, Mortgagee, upon 236 shares of stock of
<br />
<br />said ASSOCIATION, Certificate No. L 25084 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Six (6), Block One (1), Elm Place, Grand Island, Hall County, Nebraska,
<br />
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached floor coverings, all window scrccm,
<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 shall and will pay all taxes and assessments 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 ofS 23,600.00 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 the terms and conditions of this mortgage or the bond secured hereby, the mortgagee sha1I,
<br />on demand, be entitled to immediate posseEsion 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 mortgaged premises during such time as the mortgage indebtedness sha1I remain
<br />unpaid; and the mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said premises and rentiDg
<br />the same and collecting the rents, revenues and income, and it may payout of said income all expenses of repairing said premises and necessuy
<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 such
<br />default, irrespective of any temporary waiver of the same.
<br />
<br />TheEl: 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 premises and on this Mortglge
<br />
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 23,600 .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 payment 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 $ 23,600.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By-Laws of said ASSOCIATION; then these presents shall become null and void, otherwise 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 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 immediately 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,sha1I, 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 all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br />Nebratka for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal rilte.
<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 ~id Bond, their assigns or successors in interest, which sums shall be within the security of this mortgage the same as the funds originally
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage,
<br />
<br />Da edthis 1 st day of July A. D., 19 88
<br />
<br />K
<br />
<br />
<br />On this
<br />
<br />1st
<br />
<br />day of
<br />
<br />July
<br />
<br />19 88 ,before me,
<br />
<br />Robert W. Wago
<br />
<br />STATE OF NEBRAS
<br />COUNTY OF HALL
<br />
<br />Kay E. Tracy and Robert W. Wagoner,
<br />and as spouse of each other,
<br />me to be the identical person s whose name s are
<br />
<br />acknowledged the said instrument to be the i r voluntary act and deed.
<br />WITNESS my hand and Notarial Seal the date aforesaid.
<br />
<br />My Commission expires tf-I- ff'
<br />
<br />~e:"'li\i:1
<br />
<br />the undersigned, a Notary Public in and for said County, personally came
<br />each in his and her own right'who
<br />are personally known to
<br />
<br />S.I.2M HI
<br />
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