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<br />Mu1rlx;Arc ___
<br />MORTGAGE LOAN Nu. L_24802
<br />KNOW ALL MEN BY TIIFSE PRESENTS: That Lyle D. Hefner and Dorothey I. Hefner, each in his and
<br />her cwn right and as spouse of each other, Mortgagor, whether one or more, in consideration of the sum of
<br />Fifty ThOLand_aldLno 100-- - -- - -- - -- ------- ------ --- --- ------ ------- ---- -- DOLLARS
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 500 shares of stock of
<br />said ASSOCIATION, Certificate No. L 248(}2 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated it. Hall County, Nebraska -.
<br />A tract. of Land Carlprising a Part of the Northeast Quarter of the Northeast Quarter (NV NE'4)
<br />of Section Twenty -Seven (27), Township Eleven (11) North, Range Ten (10), West of the 6th
<br />P.M., in Hall County, Nebraska, more particularly described as follows: Beginning at a
<br />Point Six Hundred Sixty (660.0) Feet West and Six Hundred Sixty -Three (663.0) Feet South of
<br />the Northeast corner of said Section Twenty -Seven (27); thence Southerly along a Line Six
<br />Hundred Sixty (660.0) Feet West of and Parallel to the East Line of said Section Twenty -
<br />Seven (27), a Distance of Six Hundred Sixty -Three (663.0) Feet; thence Westerly Parallel to
<br />the North Line of said Section Twenty -Seven (27) a Distance of Six Hundred Sixty and
<br />Eighty -Six Hundredths (660.86) Feet, to the West line of said Northeast Quarter of the
<br />Northeast Quarter (NEM'k); thence Northerly along the West Line of said Northeast Quarter
<br />of the Northeast Quarter (NE4NE4), a distance of Six Hundred Sixty -Three (663.0) Feet;
<br />thence Easterly Parallel to the North LIne of said Section Twenty -Seven (27) a Distance of
<br />Six Hundred Fifty -Nine and Thirty -Six Hundredths (659.36) Feet to the Place of Beginning,
<br />together with all the tenements, hereddaments and appurtenances thereunto belonging, including attached flour coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, beating, 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 to connection with said real estate.
<br />And whereas the said mortgagor lies agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessments levied or
<br />assessed upon said premises an: 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 50, 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 case of default in tire performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee shag,
<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 pay out of said income all expenses of repaving said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and d collecting rentals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness; these rights art' 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 if the ,aid 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 , tunrsh approved insurance upon the buildings thereon in the sum of S 50, 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 Allot which Mortgagor hereby agrees to pay; permit no waste on said premises;keep and comply
<br />with all the agreements and conditions of the Bond for S 50, 000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all tire requirements of the Constitution and By -laws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shall remain in full fora 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 nuking 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 />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 Wand. 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 />dale 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 />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 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 />Dated[ this\\ day of Jane A. D., 19 87
<br />`Z + n
<br />Dorothey I. He er -
<br />VATE.' OP NEBRASKA, ss- On :his 3rd day of June 19 87 , before me,
<br />COUNTY OF HALL
<br />the undersigned, a Notary Public in and for said County, personally cetM
<br />Lyle D. Heiner and Dorothey I, Hefner, each in his and her own righl� and as spouse of each
<br />other, w no are. personally known to
<br />me to he the ukeatcai pctwor S -f-sc nave S are affixed to the shove mtttuutent as mortgagor S and they severally
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