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87- 04889
<br />MORTGAGE
<br />-- MORTGAGE LOAN NO.. L 24-978
<br />KNOW ALL MEN BY THESE PRESENTS; Pat Lonnie D. Davis, a single person,
<br />Mortgagor, whether orw or more. in contildetradon of the ttaan of
<br />One Hundred Eight Thousand and no 100 ------------------------- -- ------- ---------- DOLLAM
<br />loaned to said mor4ftor by The Equitable Building and Loan Association of Grand Island, Nebraska, M , upon 1,080 shismstaftilisiker
<br />sod ASSOCIATION, Cstifcate No. L 24,8 �8 do hereby grant, convey and mortgage unto the said ASSOCIATION the f ollowing
<br />deaa�ri real estate, situated in Hall Countvy, ebradta:
<br />Lot Three (3), Block Three (3), in Kay Dee Subdivision, Hall County, IJebraska,
<br />together with all the tenements, hereditanents and appurtenances thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air cunditioning, and plumbing and water equipment and accessories thereto, pumps, stoves,
<br />refrlgeratoMs, 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 assessments 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 108, 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 the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee 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 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 premies and rent
<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 rroamry
<br />commissions and expenses incurred in renting 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 web
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor shall repay said loan on or before the maturity of said stares 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 Twentiethday of each and every month, until said loan is fully paid; pay all taxes and assessments levied against mid premises and on this Mortgage
<br />and the Bard secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 108, 000.00 payable
<br />to aid ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insurance with interest at
<br />the maxrnnum legal rate thereon from date of payment all of 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 108, 000.00this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -Laws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />slaty retie in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to matte any of said
<br />paymeetts 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 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 />sew dog, at the option of The Equitable Building and loan Association of Grand Island, Nebraska, become immediately due arid payable without
<br />further mice, and the amount remaining due uncler said bond, and any other bond for any additional advances made thamurnder, shall, from the
<br />dde of exacee of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on sod
<br />bomd,and any other bond for additional advances, together with all sums —A by said The Fquitablc Budding and Loan Association of Grand Island,
<br />Nel ristlCa for maunince, taxes and assessiments, and abstracting extension Aarrges, with interest thereon, from date of payment at the maximum
<br />1011011 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 Bmtd, their assigns or successors in interest, which sums stall 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 />this `17th f August A_D.,19 87
<br />( I �
<br />' Lonnie D. Davis
<br />STATE OF NEBRASKA, s_ On this 17th day of August 19 87 , before one,
<br />COUNTY OF HAIL
<br />the undersigned, a Notary Public in and for said County, personally cum
<br />Lonnie D. Davis, a single person who is personally known to
<br />W to he the ideftisad person whinge name is affixed to the above tuserunent as inottgagor and hr? severalty
<br />aksawk4rd The r t to be his voluntary art aced aced.
<br />wfrik V S toy Inind and Notalel Seal the date aforesaid. ~1
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<br />My Comimainiva expires
<br />INOW ps an 4 Nniary Public
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