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MORTGAGE. 87--- j 0 9 5 2
<br />MORTGAGF. LOAN NO. L 9d.,9%
<br />KNOW ALL MEN BY THESE PRESENTS: That Bret Lee Osburn and Christine G. Osburn, each in his and
<br />her own right and as spouse of each other,
<br />Mortgagor, whether one or more, in consideration of the am of
<br />Fifteen Thousand Nine Hundred and no /100 ---------------------------------------
<br />loaned to mW mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 159 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24,956 , do hereby g rant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lot Sixteen (16) except the Easterly Fifty Five (55) feet of the Northerly Seven and Six
<br />Tenths (7.6) feet thereof, and the Westerly Eighty Five (85) Feet of the Southerly Eleven
<br />(11) feet of Lot Seventeen (17), Block Ten (10), Original Town of Cairo, Hall County,
<br />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 kvied or
<br />messed 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 5 15,900-00 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 mortgage 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 shall 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 sndt
<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 intarest 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 15 1900 , 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 kgai 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 15 , 900.00this 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 retain 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 shag, 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 hound 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 />band, and any other bond for additional advances, together with all Burns 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 />legal 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 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 />Dated this 1St day of December A. D., i9 87 .
<br />ex t Lyee Osburn fit. i1�I
<br />�ppdt� ,ran , � 1 lJ
<br />Christine G. Osburn
<br />STATE OF NEBRASKA, sa On this 1st day of December 1987 before me,
<br />COUNTY OF BALL
<br />the undersigned, a Notary Public in and for said County, personally came
<br />Bret Lee Osburn and Christine G. Osburn, each in his and her own who are personally known to
<br />right and as spouse of each other
<br />me to be the identical petsns whose names are affixed to the above instrument as mortgagor S and they severally
<br />acknowledged the said instrument robe their voluntary act and deed.
<br />WITNESS my hand and Notarial Seal the date aforesaid.
<br />My Commission expires //S
<br />Notary Public
<br />aaaarau NAIMpMtl- NNaNMaNsda
<br />IofwtNl a MUSH
<br />Onw By, Nov. n. INS
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