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85—la. 004193
<br />MMTGAGE
<br />MORTGAGE LOAN NO. HI -810 FHA
<br />KNOW AU. MEN BY THESE PRESENTS: That Bernard L. MoGahan and Carol A. MoGahan, each in his
<br />and her cwn right and as spouse of each other, Mortgagor, whether one or more, in consideration of the arm of
<br />Seventeen Thoklmand Nine Ebindr-W sempnteen and 3R .1100--- -- - ----- ----- DI.t.ARS
<br />Waned to aid mortgagor by The Equitolnk Building and Low Araotistion of Grand Island, Nebraska, Mortgagee, upon 179 gum of stock of
<br />mold ASSOCIATION, Certificate No. L HI -810 FHA , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />leaerd real estate, situated in Hall County, Nebraska:
<br />Lot Three (3), in Block Eighteen (18) in Schimmrrs
<br />Addition to the city of Grand Island, 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 />I upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to furnish approved
<br />insistence upon the buildings on said premises situated in the sum of S 17, 917.38 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 cat 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 />mortgagee all the rents, revenues and income to he 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 swat 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 />appW toward the discharge of said mortgage indebtedness; these. rights of the mortgages may be exercised at any time during the existence of such
<br />default, irrespective of any temporary waiver of the same.
<br />These Resents, however, are upon the Condition, rhat if the said Mortgagor shall repay said loan on or before the maturity of said shares by
<br />payment; pay month:y to said ASSOCIATION of Ihie sum specified in the Bond secured hereby as interest and principal on said ban, on of 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 tine sum of S 17, 917 .38 payable
<br />to said ASSOCIATION; repay to said ASSMIATiON upon demand all money by it paid for such taxes, assessments and insurance with interest at
<br />the maximum legal tale 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 17J 917.38 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -taws of said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />*AW 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 artears in making said monthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />sad Mortgagor sgras 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 Building and Iran Association of Grand Island, Nebraska, become immediately due and payable without
<br />farther notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shall, from the
<br />doe of axevow of said option, bear interest at the nmimum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<br />boad,snd any other bond for additional advances, together with all sunu paid by said The Equitable Building and Loan Association of Grand Island,
<br />Nebraska for instill ore, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />Jew in".
<br />As in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of sold Bond, their coigns or soccessors in interest, which sums shall be within the security of this mortgage the sane as the funds originally
<br />toga, the told anxisint of principal debl not to ex at any time the original amount of this mortgage.
<br />this uV �t�e� A. n.. 1985
<br />SIATECxiN (3E FIALL ss. CM this 4-1 � �+� clay of {l(!f is i./l 19 85 , beftite ma,
<br />the undersigned, a Notary Public in and for sak! County, personally came
<br />Bernard L. Mc Gahan and Carol A. Mci ahan, each in his and her awn ht�and �llowlt a#,jWR to
<br />each other,
<br />rare lo be rife identical person ® whose name a are affixed to the above anstrunient as mortgagor E and t1t4' -y severally
<br />asitnsrwkAwd the said imttrumenl robe their voluntary aril and deed -�
<br />WITNE.3.'i my hand and Notarial Seal fire elate Aforesaid ;
<br />My t"rnurussion
<br />141,1101 carp 111"1 N every lhihhc
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