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<br />MORTGAGE LOAN NO. L 25 .087
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<br />KNOW ALL MEN BY THESE PRESENTS: That Michael G. Ferguson and Marcia E. Ferguson. each in h~s
<br />and her own right, and as spouse of each other,
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<br />88- 103651
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<br />MORTGAGE
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<br />Mortgagor, whether one or more, In consideration of, the sum of
<br />E;gp~ppn ThollR~nrl ~nrl nollOn ----------------------------------------------------~nOLLARS
<br />
<br />loaned to IlIid mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 180 shaiel of stock of
<br />said ASSOCIATION, Certificate No. L 25,087 ,do hereby grant, convey and mortgage unto the said ASSOCIATION the foUowins
<br />described real estate, situated in Hall County, Nebraska:
<br />
<br />Lots 'Thirteen (13) and Fifteen (15), Block Twenty Five (25). in College Addition to the
<br />City of Grand Island, Hall County, Nebraska,
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<br />IOgether with all the tenements, hereditaments and appurtenances thereunto belonging, including attached floor coverings, all 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 shall and will pay aU taxes and assessments tevied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shaU become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S \011,000.00 payable to said ASSOCtA TION and to deliver to said
<br />ASSOCtATION the policies for said insurance; and not to commit or permit any waste on or about said premises;
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<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 shaD,
<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 rems, revenues and income to be derived from the mortgaged premises during such time as the mortgage Indebtedness shaD remain
<br />unpaid; and the murtgagee 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 Ihe 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 lhe same.
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<br />These Presents, however, are upon the Condition, That if the said Mortgagor shaU 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 fuUy 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 S 18.000.00 payable
<br />to said ASSOCtATlON; repay to said ASSOCtATlON upon demand aU 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
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<br />with aU the agreements and conditions of the Bond for $ 18,000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By,Laws 0 said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shaU remain in fuU force and may be foreclosed at the option of the said ASSOCtA nON 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,
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<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 Buildi.'1g and Loan Association of Grand Island,Nebraska, become immediately due andpayabte 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 amount due on said
<br />bond, and any other bond for additional advances. together with a1t 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 />legat rate.
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<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 interest, which sums shaU be within the securiry of this mortgage the same as the funds origina1Iy
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage,
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<br />,);; ':VY do,.r ';'' A D," 88
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<br />Marcia E. Ferguson
<br />STATE OF NEBRASKA, ~
<br />ss.
<br />COUNTY OF HALL
<br />
<br />On this
<br />
<br />6th
<br />
<br />day of
<br />
<br />July
<br />
<br />1988
<br />
<br />, before me,
<br />
<br />Michael F. Ferguson and Marcia E. Ferguson.
<br />own right, and as spouse of each other,
<br />me to be the identlcaI person s whose name s are affiXed to the above inst
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<br />acknowledged the said in&trumentto be the i r voluntary act and deed.
<br />WITNESS my hand and Notarial Seal the date aforesaid,
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<br />My Commission expires 9- 1- P r
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<br />[j..-~"."'I
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<br />the undersigned,. Notary Public in and for said County, personally ClIme
<br />each in his and her
<br />who
<br />
<br />are
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<br />personaUy known to
<br />
<br />i.l-2M ftl
<br />
<br />
<br />they severally
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