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<br />61�, 106707
<br />MORTGAGE
<br />MORTGAGE LOAN No. HI 867 FHA
<br />KNOW ALL MEN BY 71IFSE PRESENTS: nut LeRoy M. Smith and Patricia A. Smith, each in his and
<br />her own right, and as spouse of each other,
<br />whether one or roe, in consideration of the am of
<br />Seven Thousand Four Hundred and no /100 ------------ - -- - ------------------------------ UIIARS
<br />leaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 74 shares of stock of
<br />said ASSOCIATION, Certificate No. HI 867 FHA , do hereby grant, convey and mortpge unto the sad ASSOCIATION the following
<br />deed rea! estate, situated in Hall County, Nebraska:
<br />Lot One (1), in Block Seventy Seven (77), in Wheeler and Bennett's Third Addition to the
<br />City of Grand Island, Nebraska.
<br />together with all the tenements, hereditarrents and appurtenances thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air condit ioning, and plumbing and water eq uipment and accessories thereto. pumps, stoves,
<br />refr4crators, and other futures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And wbemn the saki mortgagor has agreed and does hereby wee 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 sank shag become delinquent; to furnish approved
<br />upon the buildings on said premises situated in the sum of s 7 , 400.00 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 me 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 dew, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />smrtgapx 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 shall have the power to appoint any ant or agents it may desire for the purpose of repakitg 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 />communities 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; thew rights of the mortgagec may he exercised at any time daring the existence of such
<br />default, irmspcctive of any ternporary 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 ban, on or before
<br />the Twentieth day of each and every month, until said loan is fully laid; 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 79400.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all motley 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 7,400.00 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 hit 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 of 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 Building and Loan Association of Grand Island, Nebraska, become immediately due and payable without
<br />further mice, and the amount renninirg due under said bond, and any other bond for any additional advances made thereunder. shall, from the
<br />date of exercisic of said option, bear interest at the maximum legal rate, and this mottgage may then be foreclosed to satisfy the amount due on said
<br />hoad,and any otter bad for additional advances, together with all arum paid by said The Equitable Building and Loam Association of Grath Island,
<br />!eta for issuance. taxes and messnents, and abstracting extension charges. with interest thereon, from date of payment at the maximum
<br />legal rate.
<br />As provided in the Bond secured hereby. while this rnortpp remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, their awns or successors in interest, which sums stall be within the security of this mortgage the same as the funds originally
<br />aimed thereby, the total amount of principal debt not to exceed at any time the original amount of this
<br />this 13th �/% day of November A. D., 1987 ,
<br />eRoy- mith
<br />ism. >,��. � � _r
<br />ra iCi�: bmat to
<br />STATE OF NEBRASKA, ss. On this 13th day of November 19 87 ,before me,
<br />COUNTY OF HALL
<br />the undersigned. a Notary Public in and for said County, personally crane
<br />LeRoy M. Smith and Patricia A. Smith, each in his and her own
<br />who are personally know® to
<br />right, and as spouse of each other
<br />me to to the identnal person s whim rune s are affixed to the above inst mortgagor s and t h e y severally
<br />acknowledrd the mid instrument to be their voluntary act and deed.
<br />OTTNIMS nary hand and Noraraal Secal the date sionesaW, /
<br />on= 01 he
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