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<br />MORTGAGE _ 87-- 103154
<br />MORTGAGE LOAN NO. L
<br />KNOW ALL MEN BY THESE PRESENTS: That John A. Spencer and Rebecca A. Spencer, each in his and
<br />her own right and as spouse of each other, Mortgagor, whether one or more, in considgmUoth of the stmt of
<br />Thirty -7Wo Thousand and no/ 100---------------------- -- -------- ------------- - - - - -- DOLLARS
<br />loaned to mid mortgagor by The Equitable Budding and Wan Ammistion of Grand Isard, Nebraska, Mortgoilm, upon 320 shares of stock of
<br />amid ASSOCIA7`I01, Certificate No. L do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described read estate, situated in Hall County, Nebraska:
<br />Lot Six (6), Whites Sunny Slopes Subdivision, Hall County, Nebraska,
<br />together with all the tenements, hereditarnents 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, puttp e. 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 the mortgagor shall and will pay all taxes and sawasments lever or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent: t.r furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 32 000.00 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 ace of default in the performance of any of the terms and conditions of this mortgage of the bond secured hereby, the mortgages shall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfer& 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 sell remain
<br />unpaid: and the monpipe shall have the power to appoint any agent or agents it may desire for the purpose of repave" said premises and renting
<br />the same and collecting the rents, revenues and income, and it may pay out of said income all expenses of repairing said premises and necessary
<br />wmmisions and expenses incurred in tenting 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 rich
<br />default, irrespective of any temporary waiver of the same.
<br />Theme 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 Mortgage
<br />and the Bond secured thereby, before delinquency. furnish approved insurance upon the buildings thereon in the sum of S 3 2, 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 kgal rate thereon from date of payment all of which Mortgagor hereby agrees to pay; permit no wasteon said prerrwes;keep and comply
<br />with all the agreements and conditions of the Bond for $ 32, 000.00 this day given by the said Mortgagor to said ASSOCIATION, and ommply
<br />with all the requirements of the Constitution and By -Laws of said ASSOCIATION; then these presents call become null and void, otherwise they
<br />shall certain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to make any of sad
<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 fourckosure proceedings.
<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 shaU, to the optic of The Equitable Building and Loan Associati n 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, 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 baud for additional advances, together with all sums paid by said The Equitable Building and Wan 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 />legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sung to the
<br />makers of said Bond, their assigns or successors in interest, which sums call be within the security of this mortgage the some as the funds originally
<br />secured thereby, the total amount of principal debt not to exceed at any tine the original amount of this mortgage.
<br />Dated this day of A.D., 19 87
<br />kbecca . 5 A. Spencer
<br />STATE OF NEBRASKA, t s. on this day of 19 87 , before me,
<br />COUNTY OF HALL i
<br />the umlersipted, a Notary Public in and for said County, personally carne
<br />John A. Spencer and Rebecca A. Spencer, each in his and her own right and as spouse of
<br />each other, who are personally known to
<br />me to be the identical pertain S whose name s are affixed to the above inafrumeYI as mortgagor s and they severally
<br />adutowledrd the mid instrument to be their voluntary act and deed. j
<br />i
<br />M?TTit:SS my hand and Notarial Stab the date a(oresail. i
<br />My C +srtumon expires 9% i 1.
<br />4 ublic
<br />Nfar9r al ,.
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