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106837
<br />MORTGAGE
<br />_
<br />MORTGAGE LOAN NO. _L 24
<br />KNOW ALL MEN BY THESE PRESENTS: That Teddy D. Glause and Vicky J. Glause, each in his and her
<br />own right, and as spouse of each other,
<br />r
<br />Mortgagor, whether one or more, in consideratiou of the sum of
<br />Ten Thousand Five Hundred and no /100 --------------- ----------------------- -
<br />loaned to said more The Equitable Building and Loan Association of Grand Island, Nebraska, Mort
<br />mortgagor by q rhg gaga, upon 105 shares of dock of
<br />said ASSOCIATION, Certificate No, L 24 r 950 do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lot Seven (7), Block One Hundred Seventeen (117), in Railroad Addition to the City of
<br />Grand Island, Hall County, Nebraska.
<br />together with all the tenements, hereditaments 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 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 S 103500.00 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 />mortgagee all the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shalt 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 remaining, 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 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 Mortpp
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of $ 10 , 500.00 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 $ 10 , 500 .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 Building and Loan Association of Grand Island, Nebraska, 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, 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 saw
<br />hond,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 />I*d 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 />maters 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 originai amount of this mortgage.
<br />Dated this 2 th day of November A. D., 19 S 7 .
<br />Vic
<br />STATE OF NEBRASKA,
<br />s. this 24th day of November 19 87 ,before me,
<br />COUNTY OF HALL
<br />;.. the undersigned, a Notary Public in and for said County, personally came
<br />Teddy D. Glause and Vicky J. Glause, each in his and her own
<br />who are personally known to
<br />fight and as spouse of each other,
<br />me to be the identical persons whose name s are affixed to the above mstrumeut'4s mortgagor s and they severally
<br />acknowledged the said instrument to be their voluntary act and deed.
<br />WITNESS my hand and N arial Seal f
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<br />My Commission expires'
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