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<br />MORTGAGE
<br />MORTGAGE LOAN NO. L 24,705
<br />]KNOW ALL MEN BY THESE PRESENTS: That Gary R. Bute, a single person,
<br />Mortgagor, whether one or more, in consideration of the win of
<br />Sixty Two Thousand and no/ 100-------------------------------------------- - - - - -- DOLLAPS
<br />loaned to said mortgagor by The Equitable Budd)ng and Loan Association of Grand Island, Nebraska, Mortgagee, upon 620 shwa of stock of
<br />-said ASSOCIATION, Certificate No. L 24,705 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lot Ten (10), in Block Four (4), BrentwoodSubdivision,
<br />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 sane shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of $ 62, 000.00 payable to aid 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 />matgaga all the rents, revenues and income to be desired from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortgagee sha0 have the power to appoint any agent or agents it may desire for the purpose of repairing aid prerniaes asd renting
<br />tfe same and collecting the rents, revenues and income, and it may pay out of aid income all expemes of repairing said prernises and necewry
<br />eoauirissions and expenses incurred in renting and rnaraging the same and of colkctitrg rentals therefrom; the balance remaining, if any, to be
<br />�p�ad towed the disdarge of aid mortgage indebtedness; these rights of the mortgagce may be exercised at any titre doting the existe�e of such
<br />default, irrespective of any temporary waiver of the satre.
<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 Mortgage
<br />and the Bard secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of s 62,000.00 payable
<br />to said ASSOCIATION; relay to said ASSOCIATION upon demand all money by it paid for such t 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 wasteon saidpremises;keep and comply
<br />with all the agreements and conditions of the Bond for s 62 000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -laws otrsaid ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shad 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 Bedding 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 forecloaed to satisfy the amount due on said
<br />bond, aid 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 insun"Ke, taxes and a- sessments, and abstracting extension Barges, 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 />aecxxet thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />/"(aced this !{ 5th day of December A. D., 19 86
<br />V"P 41
<br />3
<br />STATE OF NEWASKA. ss. On this 5th day of December 19 86 , before me,
<br />COUNTY OF HALL
<br />the undersigned, a Notary Public in and for said County, personally cams
<br />Gary R. Bute, a single person,
<br />who is personally known to
<br />me to be the identical person whose name is affixed to the above instrument as mortgagor and he severally
<br />ackmnvladead the said instrument to be his voluntary act and dad. / l
<br />WITNNSS my hand and olarialSeal the date aforesaid. � _..-
<br />My Commission
<br />, R0r14Rt�S1 e d IM►nslr _ p,,.'- —. ..._. � _ _ �..
<br />—� ��� Kolar Public
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