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<br />MORTGAGE
<br />MORTGAGE LOAN NO,
<br />KNOW ALL MEN BY IIIEBE PRESENTS: That Teddy D. Glnuse and Vicky J. Gl+ause, each in his and her
<br />own right, and as spouse of each other,
<br />Mari r one at more, lo of the of
<br />FifteenThousand and no/100 ---------- �— _...,.�A.,..�,___,.....m.. -- —_—_---- ------ __—_------
<br />loand to said martgagas by The IUWIAk Budding and Loan Association of Grand Land. Nabradat, Mortpgm, upon 150 of of
<br />sold TON, Carlificato No. L 24933 . do hereby grant, convey and mottgap unto lie ahl ASSOCIATION the F
<br />described
<br />rod estate, shuated in 16th County, Nebraska:
<br />Lot One (1), Block Twelve (12), in Packer & Barr's Addition to the City of Grand Island,
<br />Hall County, Nebraska.
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached floor comings, all window
<br />window dudes. blinds, storm windows, awnings, heating, air conditioning, and plumbing and water equipment and a thereto, ,stoves,
<br />Fefriputors, and other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And whereas the sad mortgagor has speed and does hereby agree that the mortgagor shall and will pay all taxes and assessments levied or
<br />sumsed upon sad 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 15 , 000.00 payable to aid ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for aid insurance; and not to commit or permit any waste on or about ad premises;
<br />In cue of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortpVc shall,
<br />on demand, be entitled to immedule possession of the mortgaged premises and the mortgagor hereby assigns, tranders jual sets am to the
<br />modpre all the rents, revenues and income to be derived from the mortgaged premises during such tine as the mortgage indebtedness sell manatin
<br />unpaid; and the mottgape stall have the power to appoint any agent or agents rt may desire for the purpose of repairing ad premises and resat
<br />the and collecting the rents, revenues and income, and it may payout of said income all expenses of repairing said promises and twormary
<br />comanissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance manairift 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 such
<br />default, irrespective of any temporary waiver of the some.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor shall repay said loan on or before the maturity of ad shares by
<br />payment; lay monthly to said ASSOCIATION of the sum specified in the Bond secured herrby as interest and principal on 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 spins( 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 15,000.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it pad 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
<br />premises; keep and comply
<br />with all the agreements and conditions of the Bond for $ 15, 000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and Bylaws of said ASSOCIATION; then these presents shall become null and void, otherwise: they
<br />shall refrain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to nuke 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 and Bond;
<br />arstl Mortgagor fees to have a receiver appointed forthwith in such foreclosure proceedings.
<br />If there is any change in ownersNp of the red estate mortgaged herein, by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured ", at the option of The Equitable Building and Loan Association of Grand Islaud,Ncbmsta, become immediately due and payable without
<br />further notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, duds, from the
<br />date of exercise of said option, bee interest at the maximum kpal rate, and this mortgage may then be foreclosed to satisfy the amount due on saW
<br />boval,and any other for additional advances, together with all suns paid by said The Equitable Budding and Loan Action of Grand Idand,
<br />Nebraska for i souse, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />kod 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 mid 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 />_29th , _ day of October A. D., 1987 .
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