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MMTGAGF 103968
<br />MORTGAGE LOAN NO. L 2 4, 8 3 2
<br />KNOW ALL MEN BY 71IFSE PREUNTS: That Donald Edward Schleichardt and Lorraine Elizabeth
<br />Schleichardt, each in his and her own right and as spouse of each other,
<br />Mortgagor, whether one or more, in consideration of the am of
<br />Y L Thlou ate noL100- -°- --77-------77-------------------------7 DOUARS
<br />kneed to said mortIpillor by The Fgtutabk Buiblaw and Loan Association of Grand Island, Nebraska, Mortgagee, upon 290 dares of'stock of
<br />aid ASSOCIATION, Certificate No. L 2 4 , 8 3 2 , do hereby grant, convey and mm ortgagc unto the said ASSOCIATION the folowing
<br />described red estate, situated in Ifag County. a:
<br />A part of the South Half of the Southwest Quarter (SkSWk) of Section :Wenty -Four (24),
<br />Township Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska,
<br />more particularly described as follows: Catmencing at a point on the South line of
<br />said Section Twenty-Four (24), which point is One Hundred Thirty -Eight Feet (1381)
<br />East of the Southwest corner of said Section; running thence North parallel with the
<br />West line of said Section, Two Hundred Twenty -Five Feet (2251) to an iron stake; thence
<br />ar right angles East and parallel to the South line of said Section, Two Hundred Feet
<br />(200') to an iron stake; thence at right angles South and parallel to the West line
<br />of said Section, Two Hundred Twenty -Five Feet (225') to the South line of said Section;
<br />thence West along the South line of said Section, Two Hundred Feet (200') to the place
<br />of beginning,
<br />IoWher with all the tenements, Ivereditaments and apputtenattcxs theseunto bebnging, including attached floor coverings, all window stxeem,
<br />wow shades, blinds, storm windows, awnings, hearing, air conditxming, and plumbing and water equipmtent and accessories thereto, pumps, stoves,
<br />nefciseratom and other fixtures and equipment now err 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 lay all taxes and assessments levied or
<br />astteae I upon said premises and upon this mortgage and the bond secured therchy before the same shall become delinquent; to furnish approved
<br />ururaoce upon the buildings on said premises situated in the sum of 3 29, 000.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said 'insurance; and nor to commit or permit any waste on or about said premises;
<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 sluff,
<br />on denutd, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />rnortgfnsee all the reou, ravenous std income to be derived from rte moragapged premises duri� cash tirme u the roortg>� indebtedness tdull merle
<br />� and the tnortp dull have the power to appoint any ant a agents it may desire for the purpose of repairim� mid promaea stud rdntfos
<br />the sage and ar®ectimug the rents, rerenuea and incotate, and it may pay out of sad income all expenses of repairitg said premises a� neoetaary
<br />w>d expenses incttrrcd in renting and the saute aced of dxrlleduttg rentals therefrom; tine balance retoaieing, if my, to be
<br />aai�p�d toward the dasdurge of smud rtortg�e indebtedness; these riKjtts of the mortgagee Tray tic exert at any tirme dunriog the existence of auuh
<br />d�sdt, irreapoctire of any tetrnporary waiver of the sarm.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor shall repay said ban on or before Use maturity of mid shares 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 Ion is fully paid; pay all taxes and assessments levied against said premises and on this Mort"
<br />and the Bad secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sun of S 29, 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 paynent all of which Mortgagor hereby specs to pay; permit no waste on will premises; keep and comply
<br />with all the agreements and conditions of the Bond for S 29, 000.00 this day given by lice said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -Laws of said ASSOCIATION; then these presents stall become null and void, otherwise they
<br />remain in full face 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 throe months in artearS in making said monthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />and Mortvew agrees to have a receiver appointed forthwith in such foreck sure proceedings.
<br />If there is any change in ownership of the real estate mortgaged herein. by sale or otherwise, then the entire remaining hxk+tedma hereby
<br />tetanal shall, at the option of The Equitable Budding and Loan Association of Grid Island, Nebraslta,become immediately due and payable without
<br />fuadrer notice, and the amount rematinirrg due under said bond, and any other bond for any additional advances mode thereunder, shall, fran the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage any then be foreclosed to satisfy the amount nt due on mid
<br />bmed,aed my other bond for additional advances, together with all sots paid by said The Equitable Budding and Loan Association of Grand Island,
<br />Nebraska for histaranim, taxes and amts, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />bw rate.
<br />As provided in the Bond secured hereby, while this mortgagc remains in effect the mortgagee may hereafter advance additional sums to the
<br />askers of and Bond, their assns 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 />Dated this 27th j� day 0 ff, June A. D., 19 87
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