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naItTGAGE
<br />86--- 107431
<br />MORTGAGE LOAN NO. L 24,717
<br />KNOW ALL MEN BY THESE PRESENTS: Thu Gerald G. Lynch and Catherine E. Lynch, each in his and
<br />her own right and as spouse of each other Mortgagor, whether one or more, in consideration of On sons of
<br />Wentz -Eight Thousand Five Hundred and no /100 -- -- — - -- --- -ppLU�
<br />loaned to said mortgagor by The Equitable Building and I oan Association of Grand Island, Nebraska, Mortgagee, upon 285 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24,717 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lots Two (2) and Four (4), in Block Eight (8), in ScarffIs Addition
<br />to West Lawn, an Addition to the City of Grand Island, Hall County,
<br />Nebraksa,
<br />together with all the tenements, hereditarnents 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 same shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 28, 500. UO 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, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />moRgagee all the rents, revenues and mcome 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 any pay out of said income all expenses of repaWq said premises and necessary
<br />conumadons 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 />&6dt, irrespective of any temporary waiver of the same.
<br />Thew Presets, 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 Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of $28, 500.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it pad 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 28, 500.00 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 thew presents shall become null and void, otherwise they
<br />stall remain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to mace 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 ale or otherwise, then the entire remaining indebtedneas hereby
<br />secured shall, at the option of The Equitable Budding 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 trade 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 />boad,and any other bond for additional advances, together with all somas 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 seared hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers o surid 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 />tied this 2 day of December A. o.. 19 86
<br />Ia4l n
<br />tine E. Lynch
<br />STATE OF NEBRASKA, s. On this 22nd day of December
<br />COUNTY OF HAIL
<br />19 86 , before me.
<br />the undersigned, a Notary Public in and for said County, prrsonallyame
<br />Gerald G. Lynch and Catherine E. Lynch, each in his and her own right and as s ��?? ppf
<br />each other, o are
<br />Person known to
<br />ma to be the idenadal peraotS whore name s are affixed to the above instrument as mortgagor s and they severally
<br />arknrrwkdgad the yid maturnert lobe their voluntary act and deed.
<br />N1TNF >SS my hard and Notarial Said the date aforesaid.
<br />My CO M WAM expires t'
<br />waaaus as �� � ?vorary Public
<br />r/ .
<br />P. -
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