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87- 105098
<br />TGAGE
<br />MORTGAGE LOAN NO. L 24BA7
<br />KNOW ALL MEN BY THESE PRESENTS: That Scott B. Arnold and Sheri L. Arnold, each in his and her
<br />own right and as spouse of each other,
<br />Maur,
<br />Thirty One Thousand and no /100 — ----r more, T----- ----K RS
<br />Moaned to staid mortgagor by The Equitable BuflW and Loan Association of Grand Island, Nebraska, Malpge, upon 310 dam of slock of
<br />said ASSOCIATION, Certificate No. L 24887 , do hereby arrant, convey and mortgage unto the said ASSOCIATION the following
<br />desai6ed read ,state, situated in Hall County, Nebraska:
<br />Parcel 1: Part of Lot Five (5), in Block One (1), in Windolph's Addition to the City of
<br />Grand Island, Hall County, Nebraska, more particularly described as follows, to —wit:
<br />Commencing at a point 27.2 Feet South and 8.5 Feet West of the Northeast corner of said
<br />Lot 5; thence running Northerly parallel with the Easterly Lot line of said Lot 5, a
<br />distance of 27.2 Feet; thence turning and running Westerly along and upon the Northerly
<br />Lot line of said Lot 5, a distance of 57.5 Feet to the Northwest corner of said Lot 5;
<br />thence turning and running Southerly along and upon the Westerly Lot line of said Lot 5,
<br />a distance of 40.0 Feet; thence turning and running Easterly parallel with the Northerly
<br />Lot line of said Lot 5, a distance of 48.6 Feet to a point; thence turning at an angle and
<br />running Northeasterly, a distance of 16 Feet 3k Inches to the point of beginning.
<br />Parcel 2: Lot Three (3), Block Fifteen (15), in South Grand Island, an Addition to the
<br />City of Grand Island, Hall County, Nebraska.
<br />together with all the tenements, bereditaments 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, pumps, stoves,
<br />refrigerators, and other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And where= the said mortgagor has steed and does hereby agree that the mortgagor shall and will pay all taxes and assessments Levied or
<br />messed 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 situatca'_n the sum of S 31,000.00 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 board secured hereby, the mortgagee stun,
<br />on demad, 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 dun 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 repairing said premises and necessary
<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; them rights of the mortgagee may be exercised at any time during the existence of such
<br />default, itrespective of any temporary waiver of the same.
<br />These Presents, however, ate upon the Condition, That if the said Mortgagor shall repay said Lean on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the Band secured hereby as interest and principal on said ban, on or before
<br />the Twentielhday of each and every month, until said Lean is fully paid; pay all taxes and assessments levied against said premises mad on this Mortgage
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the Harr of s 31 , 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 all of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep and comply
<br />with an the agreements and conditions of the Bond for S 31 , 000.00 this 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 &lull become nag and void. otherwise they
<br />shall remain in full face and may be foreclosed at the option of the sad ASSOCIATION after failure for three months to make any of said
<br />payments or be three nonthu in attests in braking said monthly payments, of to keep and comply with the agreements and conditions of sass Bad;
<br />and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings.
<br />It there is any change in ownership of the real estate mortgaged herein, by sale or otherwise, then the entge remaining indebtedness hereby
<br />&sewed IA#, at the option of The Equitable Building and Lour Association of Grand Island, Nebnaka,becorae immediately due and payable without
<br />further notice, and the amount renaining due wrier said bond, and any other bond for any additional advances made thereunder, don, from the
<br />date of exercise of said option, bear interest at the maximrmn legal rate, and this mortgage may then be foreclosed to satisfy rte mount due on said
<br />bond, and any other bond for additional advances, together with all sums paid by said The Equitable Budding 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 />logd rate.
<br />As provided is the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sunm to the
<br />makers of said Btu, their s or successors in interest, which sums shall be within the security of this mortgage the same as the funds origieany
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />*r' 26th day of August A. D., 19 87 ono CS. rnold
<br />STATE OF NEBRASKA, � ss. On this 26th day of August 1987 , before one,
<br />COUNTY OF HALL
<br />the undersigned, a Notary Public in and for said County, personally tattle
<br />Scott B. Arnold and Sheri L. Arnold, each in his and her own
<br />who are personally known to
<br />right, and as spouse of each other,
<br />me to be the identical persons whose names are affixed to the above instrument as mortgagor s and they severally
<br />agiusmsk,ill,dthagaidinagnsourt, lobe their voluntary act and deed.
<br />WITNPSS my hand and Notatud Seal the date aforesaid. ?
<br />My Communism expires F� ._ a S _CT-
<br />wmoass at ` p! aala Notary Public
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