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<br />88-
<br />
<br />103622
<br />
<br />.MORTGAGB
<br />
<br />MORTGAGB LOAN NO. L 25.081
<br />
<br />KNOW ALL MBN BYTHBSEPRESENTS: That Pauline A. Osborn, an unmarried person. and Thomas L.
<br />Osborn. an unmarried person,
<br />
<br />Mortgagor, whether one or more, in consideration of tIie sum of
<br />Fifteen Thousand and no/lOa ------------------------------------------------------JDoLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 150 shares of stock of
<br />said ASSOCIATION, Certificate No. L 25.081 ,do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lot Fifteen (15), in Block Seven (7). in Parkhill Second Subdivision. an Addition to the
<br />City of Grand Island. Hall County, Nebraska.
<br />
<br />
<br />;
<br />.;
<br />
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, stonn windows, awnings. heating, lIir 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 IIJlree 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 of $ l5 , 000 . 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 shall,
<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 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 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 payout of said income all 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 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 />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 inlerest 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 Mortgage
<br />
<br />and the Bond secured thereby, before delinquency: furnish approved insurance upon the buildings thereon in the sum of $ 15.000.00 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 Morteagor 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 S 15.000.00 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 :hey
<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 notiee, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shaD, 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 />..eN.ebraska for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal rate.
<br />
<br />r 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 &:lid 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 al any time the original amount of this mortgage.
<br />
<br />~a,cO~
<br />
<br />l.>auunJ! . . Osborn..-l .61 J _ __
<br />-r7:I""J;tA.J....A ~ r Ll..2~
<br />Thomas L. Osborn
<br />
<br />STATE OF NEBRASKA, l ss.
<br />COUNTY OF HALL ~
<br />
<br />A. D., 19 88
<br />
<br />.oil.
<br />
<br />"
<br />
<br />~,~
<br />;
<br />
<br />On this
<br />
<br />5th
<br />
<br />day of July
<br />
<br />, 1988
<br />
<br />. before me,
<br />
<br />L
<br />
<br />Pauline A. Osborn,
<br />unmarried person.
<br />me to be the identical person S whose name s are
<br />acknowledged the said InSllumentto be the i r voluntary Bel and deed.
<br />WITNESS my hand Bnd Notarial Seal the date aforesaid.
<br />My Commiwon expires q -1- if
<br />
<br />~.;roi:\tJ
<br />
<br />the undersigned, a Notary Public In and for saId Coonty, personallyatme
<br />an unmarried person. and Thomas L. Osborn, an who are personally known to
<br />
<br />
<br />severally
<br />
<br />r..l.2.M at
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