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87-- 105208
<br />hiORTGAGE_
<br />MORTGAGE LOAN NO. _AI 861 FHA
<br />KN01wALLMENBYTHESE PRESENTS: That George D. Pontious, Jr. and Vicki L, Pontious, each in
<br />his and her own right, and as spouse of each other,
<br />Mortgagor, whetter one or more, in consideration of the am of
<br />Five Thousand gnd no /100 ------------------------------- -------- --- --- ---- --- - -- --- -DOLLARS
<br />loaned to aid mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortaagoo, upon 50 stares of stock of
<br />said ASSOCIATION, Certificate No. K HI 861 FHA, do hereby grant, convey and mortgage unto the saki ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />The South Thirteen and Twenty Five Hundredths (13.25) Feet of Lot Fourteen (I4), and all
<br />of Lot Sixteen (16), in Block Eight 18), in University Place, an Addition to the City of
<br />Grand Island.
<br />together with all the tenements, hereditarnents and appurtenances thereunto belonging, including attached floor coverings, all window rxreoa,
<br />window shades, blinds, storm windows, awnings, treating, 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 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 $ 5,000.00 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 />mortgage all the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />tepid; and the mortgage 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 repairing said premises and necessary
<br />eons and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if arty, 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 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 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- furnish approved insurance upon the buildings thereon in the sum of S 5 , 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 fees to pay; permit no waste on said premises; keep and comply
<br />with all the agreements and conditions of the Bond for S 5 000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply V Z
<br />with all the requirements of the Constitution and By -Laws otrsaid ASSOCIATION; then these presents shall become nub and coif, otherwise they
<br />sad remain in full force 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 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 ask or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, at the option of The Equitable Building and Loan Association of Grand Island, Nebraska, become immediately doe and payable without
<br />further notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shad, from the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to achy the amount due on said
<br />boad,and any other bad for additional advances, together with all sums paid by said Tlie 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 />Iso fate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee ma hereafter advance additional suraa to flee
<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 />red this 2 7 Ch day of August A. D., 19 87.
<br />e � on
<br />V t
<br />cki�$on Pontious
<br />STATE OF NEBRASKA, s. On this 27th day of August 19 8 7 , before me,
<br />COUNTY OF HALL
<br />the u�rsjgnecl, a Notary Vic in and for said County, personally come
<br />George D. Pontious, Jr. and Vicki L. Pontious, each in ni.s and her own
<br />right, and as spouse of each other, who are personally known to
<br />sae to be do identical person s whose name s are affixed to the above instr s nwrtgagur s and they severally
<br />acknowledged the said instrument to be their voluntary act and decd.
<br />�.
<br />WITNESS my hand and Notarial Sean the date aforesaid. % ro
<br />My Commission expires r / f 7 9
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<br />C._. - the
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