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MORTGAGE 87- 103666
<br />MORTGAGE LOAN NO. L 242 3.8 —
<br />KNOW ALL MEN HY THESE PRESENTS:T%t Robert E. Colgan and Vianne J. Colgan, each in his and
<br />her own right and as spouse of each other,
<br />Mortgagor, whether one or [[rote, in consideration of the amen of
<br />Iooad an and asorWW by The Equitabk Swidang and Loam Association of Grand [sand, Nebraska, Mortgssoe, upon 570 shoes of 3101* of
<br />acid ASSOCIATION, Ce ttifl arc No. L 2481 do hereby Brant, convey and mortgage unto the said ASSOCIA11M the falio�
<br />described rod estate, :Rtrted n Hag County, brtsvlts:
<br />Lot One (1), in Sunset Seventh Subdivision,being a part of the Northwest
<br />Quarter (NWi) of Section Eleven (11), Township Eleven (11) North, Range Ten
<br />(10) West of the 6th P.M., Hall County, Nebraska.
<br />AND
<br />Lot Thirteen (13), Block One (1) of Island Acres No. 2, Being A Replan
<br />of Lots One (1), Two (2), Three (3), Five (5), Six (6) and Seven (7),
<br />Island Acres, City of Grand Island, Hall County, Nebraska.
<br />together with all the tenements, hereddarnents and appurtenances thereunto belonging, including att ached floor covermp, all window =man,
<br />window shades, blind&, storm windows. awnings, hestig, air conditioning, and plumbing and water equipment and accessories thereto, pumps,stervaa,
<br />refriseatas, and other fixnues and equipment now or hereafter attached to or used in connection with said real estate.
<br />And whereas the and mortgagor has agreed and don hereby agroc that the mortgagor shall and will pay all taxes and assessments levied or
<br />assessed upon and presents and upon this mortgage and the bond se ed re before the same shall become delittqueni; to furnish approved
<br />insurance upon the b on said premenis situated in the sum of $ } / , 0 • 0 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said minrance; and not to commit or permit any waste on or about said premises;
<br />In can of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the rnor4ppe dull,
<br />on demand, be entitled to immedLsle possession of the mortgaged premises and the mortgagor hereby assigns, transfers and acts over to the
<br />mortgagee all the beats, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortgage shall have the power to appoint any agent or agents it many desire for the purpose of repairing said premises and renting
<br />the sane and collecting the rents, revenues and income, and it may pay out of mid income all expenses of repairing said premises and necessary
<br />commissions and expense; incurred in tenting and managing the same and of colkcting rentals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of mid 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 the same.
<br />These Presents. however, are upon the Condition. That if the said Mortgagor shall relay said loan on or before the maturity of saW shares by
<br />payment; gay monthly to said ASSOCIATION of the run specifesd in the Band secured hereby as interest and principal on mid loan. on or before
<br />the Twentieth day of cut and every moth, until said loan is fully paid; pay all taxes and assessments levied age said premiss and on this Moctpgs
<br />and the Bond secured thereby, before delinquency; furnish approved assurance upon the butldmgs thereon in the =in of i5 7 , 000 .00 able
<br />a Laid ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and ineranee with interest at
<br />the rmaximmn legal rate theram from date of payment all of which Mostgagr hereby agrees to day; peanut no waste on aid premises; keep and comply
<br />with all the agreernenta and conditions of the Bond for s 5 7 , 000.00 this day given by the said Mortgagor to mid ASSOCIATION, and comply
<br />with all the re"irements of the Constitution and By -1,ws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />sag remain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to mate any of said
<br />payments or be three moths in arrears in making sip 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 shy, at the option of The Equitable Building and Ion Association of Grand Island, Nebraska, become immediately due and payable without
<br />further notice, and the amount remaining dire under mid bond. and any other bond for any additional advances mirk thereunder, shall, from the
<br />rate of cxeres of said option, bear interest at the oaximurn legal rate, and this mortgage may then be foreclosed to satisfy the amount due an sod
<br />bomd, and any other bond for additional adva ices, together with aA Pass paid by said The Equitable Budding and Loan Association of Grand Island,
<br />Islebsada for ham, taxes and ameummts. and abaracti4 extension charges, with interest thereon, from date of payment at the maxim
<br />br rate-
<br />Ace provided in the Bond seared hereby, while this mortgage remains in effect the mortgages: may hereafter advance additional coma to the
<br />makers of mid Bond. their assigns or successors in interest, which stern s;.z.N be within the security of this mortgage the same at the funds originally
<br />aer/J,d�t�he�re�byy. the total amount of principal debt of to exceed at any time the original amount of this mortgage.
<br />OR H°f 19th / day of June A. D., 19 8 7
<br />rV. L gan
<br />anne golgan
<br />STATE OR NEBRASKA, s. on this 19th hey is June 1987 , before me,
<br />COUNTY OF HALL bully
<br />Robert E. Colgan and Vianne J. Colgan, each in his a eN�n Pub*' and g�itt andsas ss 94V af"eceac%
<br />other, who are personally known to
<br />no to be the identical parson s winos rams s are afFixoad to the above irosruiueik n mortgagor s and are severally
<br />sclinvowlsidpid the mid instrument to be t he iWA%mtay act amt dead.
<br />W ITIM my hand and Notarial Seal the date atmemid.
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