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<br />88-
<br />
<br />103653
<br />
<br />MORTGAGE
<br />
<br />MORTGAGE LOAN NO. L 2 5 088
<br />
<br />1
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: That Douglas A. Hough, an unmarried person
<br />
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Fourteen Thousand Three Hundred Twenty and no/IOO --------------------------------OOLLARS
<br />
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 144 shares of stock of
<br />said ASSOCtA TION, Certificate No. L' 2 508 8 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real, estate, situated in Hall County, Nebraska:
<br />
<br />Lot Ten (10), Fractional Block Four (4), in Gilbert's Second Addition to the City of
<br />Grand Island, Hall County, Nebraska,
<br />
<br />together 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 morlgagor has agreed and does hereby agree that the mortgago.. shall and will pay ali taxes and assessments levied or
<br />assessed opon 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 sumof$ 14,320. payabie to said ASSOCtATION and to deliver to said
<br />ASSOCIATION the policies for said insurance; and not to commit or permit any waste on or about said premiiCs;
<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 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 rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />un;>:tid; and the mortgagee shall have the power to appoinl 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 collecling 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 luch
<br />defauit, irrespective of any temporary waiver of the same.
<br />
<br />These Presents, however, are upon the Condition, That if the said Morlgagor shall repay said loan on or before the maturity of said ,harel by
<br />payment; pay monthly to said ASSOCtA TION 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 ali taxes and assessments levied against said premises and on this Mortgage
<br />
<br />and the Bond secured thereby, before delinquency: furnish approved insurancc upon the buildings thereon in the sum of $ 14,320. payable
<br />to said ASSOCtATION; 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 agreemenls and conditions of the Bond for $ 14,320. 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 ASSOCIA TlON; 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 ASSOCIA TtON after faUure for three months to make any af 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 BuUding and Loan Association of Grand Island, Nebraska, become immediately due and payable without
<br />furthcr notice, and the amount remaining duc 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 all sums paid by said The Equitable Building and Loan Association of Grand Island,
<br />Ne~raska for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal rate.
<br />
<br />As provided in the Bond secured hereby, while this mortgage remains in elTect the mortgagee may hereafter advance additional sums to the
<br />makers of said 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 />'~atedt is h day of July A,D"I9 88
<br />
<br />
<br />Dougla
<br />
<br />
<br />STATE OF NEBRASKA, ~
<br />55,
<br />COUNTY OF HALL
<br />
<br />On this
<br />
<br />6th
<br />
<br />dayof July
<br />
<br />1988 ,before me,
<br />
<br />D~uglas A. Hough, an unmarried person
<br />
<br />the undersigned. a Notary Public in and for said County. personally came
<br />who is personally known to
<br />
<br />me to be the identical person whose name is affixed to the abovc instrument as mortgagor
<br />acknowledged the said instrument to be his voluntary act and deed. /..-r-
<br />WITNESS my hand and Notarial Seal the date aforesaid, /
<br />My Commission expire. / / ;:;(.S- . JfI (
<br />
<br />and he
<br />
<br />severally
<br />
<br />
<br />~.1.2M RJ
<br />
<br />_.....-ItIto.. ......
<br />JlWlNI G.IIOUSH
<br />1'1 a.a. -. ...n. 1.
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