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87- 108676
<br />MORTGAGE
<br />MORTGAGE LOAN NO. -L 24,944
<br />][NOW ALL MEN BY THESE PRFSENTS: That David H. Sparks and Lisa Sparks, each in his and her own
<br />right, and as spouse of each other,
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Seventy One Thousand and no /100 --------------------------------------------------- DOLLARS
<br />leaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 710 shares of stock of
<br />said ASSOCIATION, Certificate No. 124,944 , do haerelr
<br />described real estate, situated in Hall County, Nebraska: ; grant, convey and mortgage unto the said ASSOCIATION the following
<br />Lot Twenty Five (25), Block Two (2), in Brentwood Second Subdivision in the City of Grand
<br />Island, Hall County, Nebraska.
<br />together with all the tenements, herci itaments 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 whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessanents kwied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the sabre shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sutra of S 7 1 , 000.00 payable to said ASSOCIATION and to deliver to saki
<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 gun,
<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 shag 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 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 retraining, if any, to be
<br />apphied 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 repay 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 7 1 +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 all the agreements and conditions of the Bond for S 7 1 , 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 shall become null and void, otherwise they
<br />shall 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 sale or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, at the option of The Equitable Budding and icon Association of Grand Island, NebraAa,becimic immediately due and payable without
<br />further notice, and the amount remaining due under said bond, and any other bored for any additional advances made thereunder, shall, from the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<br />bord,and any other bond for additional advances, together with all sums paid by said The 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 />Ind 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 Bond, their assigns or successors in interest, which sums shall be within the security of this mortgage the save as the funds originally
<br />served thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />Dated this 16th day of November A. D., 1987.
<br />_.� -
<br />I�eyid Spa ;k
<br />Lisa S arks
<br />STATE OF NEBRASKA' $ On this 16th day f November
<br />COUNTY OF HALL j y !9 87 ,before me,
<br />the undersigned. a !votary Public in and for said County, personally came
<br />David H. Sparks and Lisa Sparks, each in his and her own right, who are personally known to
<br />gp& a sppousEE. of each other
<br />tube �rgnldcat persons whose name s are affixed to the shove in ns as mortgagor s and they severally
<br />acknowledged the aced instrument to be their voluntary act and deed.
<br />WITN1 SS my hand and Notarud Seat the date aforesaed.
<br />My Conamassxxa ex
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