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1;05903
<br />MORTGAGE LOAN NO. L24,671
<br />Iu�t01Vi►11 iIEN
<br />BY THESE PRESENTS: That George H. Peek and Dorothy L. Peek, each in his and her
<br />awn right and as spouse of each other Montppr, whathec oft or mac, In cooede sum of Lis son of
<br />Twenty Thousand and no/ 100- nni -Ame
<br />Island tamid notlppr by The Equitable Building and Loan Amocation of Grand Island, Nebrasha, Mortgape. upon 200 of sock of
<br />mid ASSOCIATION, catifiate No. L 24,671 do hereby grant. com" and mor%W unto the said ASSOCIATION the followig
<br />dnetibed real Man. situated in Hall County, Nebraska:
<br />Lot Twelve (12), West BelAir Fifth Subdivision,
<br />City of Grand Island, Hall County, Nebraska.
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached floor covermp, all window screen,
<br />window shades, bhods, storm windows, awnings, heating, air conditioning and plumbing and water equipment and acoe'ories thereto,pumps, stoves,
<br />whiglentots, led 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 morippor shall and will pay all taxes and asseaooents levied or
<br />assessed upon said prenrses and upon this mortgage and the bond secured thereby before the same shall becoose delinquent; to famish approved
<br />inset canoe upon the buildings on said premises situated in the awn of S 20, 000.00 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 premiers;
<br />In case of default in the performance of any of the terms and conditions of this mortgage or the bond accused hereby, the rtwrtppc shall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby snipes, transfers and acts ovw to the
<br />mortppc all the rents, revenues and income to be derived from the nortpped Iremises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortp ipe shall have the power to appoint any agent or agents it may desire for the purpose of repang said premiss and renting
<br />the same and collecting the rents. revenues and income, and it may pay out of said income all expense 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 mdebledness; these rights of the mortgagee may be exercised at any time dining the existaroe 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 aping said premises and on this Mortgage
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the building; thereon in the sum of S 20, 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 Mortp pr 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 20, 000.00 this day given by the said Mortgagor to aid ASSOCIATION, and comply
<br />with all the requirements of the Constitution mad By4.aws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />slug 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 />prymeats or be three months in arrears in asking said monthly payments, or to keep and comply with the agreements and conditions of aid Bond;
<br />lad Mortppor agrees to have a receiver appointed forthwith in such foreclosure proceedings.
<br />If there is any change in ownerduip of the real estate mortgaged herein, by ark or otherwise, then the entire remaining indebtedness hereby
<br />dacured dlall, at the option of The Equitable Building and Luau Association of Grand Island, Nebraska, become immediately due and payable without
<br />firther notice, and the amount remaining due under said bad, and any other bond for any additional advances made thereunder, shall, from the
<br />dale of exercise of said option, bear interest at the maximum legal rate, and this mortgap: may then be forecosed to satisfy the amount due on said
<br />boad,aod any other bond for additional advances, topcther with all sums paid by said The Equitable Building and loan Association of Grand Island,
<br />NebsasI for insurance, taxes and asaeunermts, 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 swam to the
<br />makers of sold Bond, their asngus or sutcesors in interest, which sums shall be within the security of this mortgage the same as the finds originally
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />this j_ 16 October A. D., 19 86
<br />Z' N L
<br />STATE OF NEBRASKA, I
<br />COUNTY OF HALL 1 On this 16th day of October 19 86 . before tae,
<br />the undefullned, a Notary Public in and for aid County, personally came
<br />George H. Peek and Dorothy L. Peek, each in his and her own rightwgond as espouse kno nhto
<br />other,
<br />me to be the identical person s whose names are affixed to the above instrument as monpgor s and they —mob'
<br />rdroowledpd the said instrument to be their voluntary act and deed.
<br />TATNESS my hand and Notarial Seal the date aforesaid.
<br />My Commission expires
<br />MrasM n � elalaa uut!raav- issue.t MU�srts Notary b- Yu lk: -
<br />Tt {OtAAS F. it MAN, it
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