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MORTGAGE 86- 105698 See L 23.681
<br />MORTGAGE LOAN NO. L 24,655
<br />KNOW ALL MEN BY THESE PRESENTS: That Ronald V. Rathjen and Charlene R. Rathjen, each in his
<br />and her own right and as spouse of each other, MostgftSor. Sher one or tee. in oonsiden tions of the tin of
<br />Nine Thousand Six Hundred and no/ 100------------------ -- ---- ---------- ----------- DOLLARS
<br />loaned to aid mortgow by The Equitable Building and loan Association of Grand Island, Nebraska, Morigape, upon 96 stases of stork of
<br />aid ASSOCIATION, Certificate No. L 24,655 , do hereby grant, convey and monpge unto the aid ASSOCIATION the following
<br />described real estate, situated in Hap County, Nebraska:
<br />Lot Twenty Six (26) and the South Fourteen (S14) Feet of
<br />Lot Twenty Seven (27), in West Heights Second addition to
<br />the City of Grand Island, Hall County, NE
<br />together with all the tenements, heredianents and appurtenances thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, au conditioning, and plumbing and water equipment and accessories thereto, pumps,stovea,
<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 astessawnts 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 9 , 600.00 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 care of default in the performance of any of the terms and conditions of this mortgage or the bord 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 mortga¢ 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 neonary
<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, ate 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 paid; pay all axes and assessments levied against said premises and on this Mortgatte
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the uddings thereon in the sum of S 9, 600.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all tmrncy by it paid for such axes, 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 pnemises;keep and comply
<br />with all the agreements and conditions of the Bond for S 9, 600.00 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 snake 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 raeiver 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 />dale of exercise of said option, beat 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 stunts paid by said The Equitable Building and loan Association of Grand Island,
<br />Nebraska for insurance, axes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal rate.
<br />As provided in th^_ Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sunst to the
<br />makers of said Bond, their assigns or successors in interest, which sums shall be within the secursty 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 9t day of September A. D., 19 86
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<br />STATE OF NEBRASKA. ss. On this 29th day of September 19 86 , before me,
<br />COUNTY OF HALL,
<br />the undersigned, a Notary Public in and for said County, pumually saute
<br />Ronald V. Rathjen and Charlene R. Rathjen, each in his and her, tarn righht andcaas ytirbtbvrDi�o
<br />of each other,
<br />me to be the identical person s whose name s are affixed to the above msttadncnt as tnkirtgagot S and Lhey severally
<br />acknowledged the said instrument to be their voluntary act and deed
<br />WI'fNh SS my lane! and Notarial Scal the date aforesad
<br />My Cnmr7na R"I cxprr _
<br />rararar of &VI M '
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