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MORTGAGE " 86-105556 see
<br />MORTGAGE LOAN NO. �L 24,625
<br />KNOW ALL MEN BY THESE PRESENTS: That Paulus J. Selden and Marilyn A. Selden, each in his
<br />and her own right and as spouse of each other, Mortgagor, whether one or more, in consideration of the ram of
<br />Fifteen Thousand and no/ 100 —_ DOLLARS
<br />loaned to said mortgagor by The Equitable Building and Unit Associat!: n of Grand Island, Nebraska, Mortgagee, upon 150 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24,625 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />The East One —Half (Ei) of Lots Four (4) and Five (5),
<br />in Block One (1), Sixth Addition to the Village of Cairo,
<br />Hall County, PJebraska.
<br />together with all the tenements, hereditaments and appurtenances thereunto belungmg, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, air conditionine. and plumbing and water equipment and accessories thereto, pumps, stoves,
<br />refrigeiators,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 />instuance upon the buildings on said premises situated in the sum of S 15, OUO.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, he entitled to immediate ptmession 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 retrain
<br />unpaid; and the mortgagee shall have the power to appoint any agent or agents it tray 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, arc 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 as�essrnents levied against said premises and on this Mortgage
<br />and the Bond secured thereby, before delinquency; fur rash 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 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 151 000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -l-a ws 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 opeon 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 We or otherwise, then the entire remaining indebtedness hereby
<br />scarred 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 arownt 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 said
<br />bond,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 />legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee nay hereafter advance additional sums to the
<br />makers of said Bond, their assigns or succrssors m mierest, which sums shall be within the security of this mortgage the same as the funds originally
<br />wcured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />_4)%W th' 8t4 day of September A n.. ly 86
<br />A.
<br />STATE OF NEBRASKA, I ss. On this 8th day of September 19 86 . before me,
<br />COUNTY OF IIALI,
<br />the undersigned, a Notary Public in and for said County, personally carne
<br />Yelulus J. Selden and %rilyn A. Selden, each in his and her own ri4 t and xt;is ''Mr%iiia,y known to
<br />-' of each other,
<br />UK to be the ttientical person s whose name S are affiixeJ a, the above mtstrwlwjlLLa� mortgagor and t.ha•q severally
<br />adkncrwiedged the said instrutttent t,, be '- atatr' voluntary act and deeAl.
<br />WITN"N" my hand and Notarial Seal tire date aforesaid.
<br />My COnnniiviii?n r.tpars 'r' ?
<br />IL
<br />to 1% PA at =1 4 1 A iiW 1'uhlic.
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