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87- 101724
<br />MORTGAGE
<br />MORTGAGE LOAN NO. L 24,755
<br />KNOW ALL MEN BY THESE PRESENTS: That John C. Pankonin and Linda K. Pankonin, each in his and
<br />her own right and as spouse of each other, Mortgagor, whether one or more, in coosiderat;on of the taus of
<br />Forty—Eight Thousand and no /100--------- - - ---- -- -DOLL ARS
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 480 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24,755 , do hereby grant, convey and martgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />The North Fifty Feet (N 50') of Lot Four (4) and the South
<br />Twenty -Five Feet (S 25') of Lot Five (5), Imperial Village
<br />Second Subdivision, City of Grand Island, Hall County, Nebraska,
<br />together with all the tenements, hereditamems and appunettances thereunto belonging., including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air rnnditioning,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 />And whereas the said mortgagor has agreed and does hereby agree that ;lie mort gagor shall and will pay all taxes and assents 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 48, 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 />In ease of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgigm 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 an the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shag remain
<br />unpaid; and the mortgagee shag have the power to appoint any agent or agars it may desire for the purpose of repairing said piemmes and
<br />the same and collecting the rents. revenues and income, and ii may pay out of said income an expenses of repairing said premises and necessary
<br />commissions and expenses insured in renting and managing the same and of collecting rentals therefrom- the balance mummiui, if my, to be
<br />applied toward the discharge of said mortgage indebtedness: them 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 />These Presents. however, are upon the Condition. That d tc said Mortgagor shall repay said ban on or before the maturity of said shatts by
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal on said ban, on or before
<br />the Twentieth day of each and every month, until said loan is fully paid; pay aft taxes and assessments levied against said premises and on this Mortgage
<br />and the Bond secured thereby, before dehnqu cncy: furnish approved insurance upon the buddiuV thereon in the Brim of $48 , 000.00 payable
<br />to said ASSOCIATION. repay to said ASSOCIATION upon demand an money by it paid for such taxes, asses and insurance with interest at
<br />the maximum kcal rate thereon from date of payment all of which Mortgagor hereby agrees to pay: permit no waste on said in, keep arad comply
<br />with all the agreements and conditions of the Bond for $48, 000.00 this day giant by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By-1 aws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shag remain in fug force and may be foreclosed at the option of the said ASSOCIATION after f dlure 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 srs,h foreclosure proceedings_
<br />If there is any change in ownership of the read estate mortgaged hertir, by sale or otherwise, then the entire remaining mdebtedms hereby
<br />sewed shall, at the option of The Equitable Building and Loan Association of Grand isfand,Nebrasln, become immediately due and payable without
<br />further noLV.e, and the amount remaining due cider mid bond, and any other bond for any additional advances made thae®det, shag, fmm 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 semis paid by said The Equitable Btu and Loam Association of Good Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting extension clxgps, with interest thereon, from date of payment at the matlemtm
<br />legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional %=a to the
<br />makers of said Bond, their assigns or successors in interest. which sum shall be within the security of this mortgage the same as the fnuids origmally
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage_
<br />- _ Dated this 27Th day of Lerch A. D., 19 87
<br />Linda K. Pankonin
<br />STATE OF NEBRASKA, a On this 27th day of March 19 87 , before one,
<br />COUNTY OF HALL
<br />the undersigned, a Notary Public in and for said County, personally carne
<br />John C. Pankonin and Linda K. Pankonin, each in his and her own right and as s�s �h
<br />other, woo are
<br />me-to be the identical person s whose name s are affixed to the above incrrnnwni as rtgigor S and they severally
<br />acknowledged the said instrument to be the i. voluntary act and deed.
<br />WITNh_SS my hand and Notarial : tl>�
<br />My Cornausawn expires - T,i 4arab_
<br />I4G %aAS I, s'r i, _..
<br />»canal an �fy Con IL f'p Notary Public
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