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<br />MOltTt +Af;Is I OAN N(). L '4891 --
<br />KNtNIhAL LMFNBYDIFSEPRNSENT,S:Thst nraCo, Inc., a Nebraska corporation
<br />Mooppor, whavortif now in Marc, in of #in man of
<br />to aid fametpipw by This Equittabin 14ma Arstrication of ( ;rand 1 Nelx cs, Mo"pVc, upon 240 Q(At9gt of
<br />algid ASSOCIATION, Certificate No. 4 24891 ,orb terehy pant, Airway and morlaw unto the mid ASSOCIATION Our follevithag
<br />downlwd raw equals. sthatad in (hall County. Nebra a:
<br />Lots Five (5) and Six (6) and the Westerly Twenty One and Three Tenths (21.3) Feet of Lot
<br />Seven (7), Block Forty (40), Original Town, now City of Grand Island, Hall. County, Nebraska,
<br />toortlecr with all the tenerricals, heredilsnxnts and appurtenances thereunto lhebnging, including atsachned floor coverings, all windage screeta,
<br />wow duadars, bloats, storm windows, awmap, heating, air conditioning, and plumbing and water equipment and acce cries thareto,puurhps,storea,
<br />m(riprators, and othet fixtures and equipment now or hereafter attached to or used in amnection with said real estate.
<br />And where= the mid mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assamments levied or
<br />wreaed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to furnish approved
<br />imaurance upon the buildings on aitl premises situated in the sum of $ 24, 000.00. payable to said ASSOCIATION and to deliver to acid
<br />ASSOCIATION the policies for said insurance, and not to commit or permit any waste on or about mid premises;
<br />In cow of defindt in the performance of any of Ile terms and conditions of this mortgage or the bond secured hereby, the mortgagee it",
<br />on dew, be entitled to immediate pomcssion of the mortgaged promises and the rmrtgagor hereby assigns, trsmdors and sets over to the
<br />mmrippe all the feats, revenues and income to be derived from the mrtgaged premises during such time as the mortgage ioddriedricas slap remain
<br />unpaid; and the mortgagee sell have the power In appoint any agent or amts it may desire for the purpose of repairing aid premises and renting
<br />the saner and eogedirg the rents, revenues and income, and it nay pay out of " income all expenses of fcpakintg said premises and necessary
<br />commissions god exp�aoe!a'�es� iacored in renting and the same and of collecting rentals therefrom; the balance retraining, if any, to be
<br />ma�pp�hcdd toward the oatorlle of mid mortgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence of such
<br />Z& W, irrespective of any temporary waive of the Sarre.
<br />Than Presents, however, ate upon the Condition, That if the said Mortgagor shall repay mid ban on or before the maturity of said shoes by
<br />pymmit; pay mtmthhy to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal an aid 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 promises and on this Mortppa
<br />and the Road secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of S 24 , 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 kph rate thereon from date of payment all of which Mortgagor hereby agrees to pay ;permit no waste on said preemises;kcep andcomply
<br />with all the agreements and conditions of the Mond for S 24 , 000.00 this day given by the aid Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and Bylaws of said AS.W..'IATION; then these pewnts shall become null and void, otherwise they
<br />dmfl 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 malting said monthly payments, of to keep and comply with the agreements and conditions of said Bond;
<br />and MortIftor specs 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, them the entire remaining inilkirtedness hereby
<br />assued AM, at the option of The ggmitable Budd" and Loan Aarcatam of Grand Island, Nebrasca, hecome immediately due and pay" without
<br />further notice, and the amount itimmung due under said bond, and any other bond for any additional advances roach thereunder, ". from the
<br />date of exercise of said option, beef interest at the marium ma legal rate, and this mortgage may then be forachrsed to satially the amount due on staid
<br />band,a and any other bond for additional advances, together with all suns paid by said The Equitable Building and Loam Association of Grand Island,
<br />for insistence, taxes and assimsments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />feria.
<br />As b the Bond secured hereby, whale this mortgage remains in effect the mortgagee may hereafter advance additional soma to the
<br />sad d, their or ouc essrs in interest, which awns Boll be within the security of this the same = the funds originally
<br />total t of principal debt not to exceed at any time the original amount of this mortgage.
<br />gust A. D., 19 87
<br />STATE PTA NEBRASKA, ms. On this 2 7 t h day of August 19 8 7 , befon me,
<br />CoLwff OF IIAU,
<br />the wider , a Notary Public in and for aid County. personally cameo
<br />Sam Grimminger, as President, and Craig Vipond, as Secretary
<br />of DraCo, Inc., a Nebraska corporation
<br />wpetr are pemrnaltykudowmta
<br />me to be this kleartUarl pefarria s whoa same s are affixed to the shout instrou as S and they severally
<br />tier r P 00 their voluatary act and dcesl. -
<br />WITNPM my lord and Notarial 'Sval the date aforesaid. +;
<br />My C expires L
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