|
MORTGAGE
<br />�z 85— 004930 em r ��tne7
<br />MORTGAGE LOAN NO. L 24,411
<br />KNOW AU MEN BY THESE PRESENTS: That Gene A. Olsen and F lcrenee A. Olsen, each in his and her
<br />own right and as spouse of each other, __�_ Mortgagor, whether one or more, in consideration of the sum of
<br />Twenty Tkypt]Sdt1d aIY3 n0 /100 -- _�____ ��--- ____ - - - -- DOLLARS
<br />Twenty
<br />loaned to said mortgagor by The Equitable Building and Wan Association of Grand Island, Nebraska, Mortgagee, upon 20 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24,411 , do hereby grant, convey and mottgage unto the said ASSOCIATION the following
<br />described real caste, situated in Hall County, Nebraska:
<br />Lot Wenty Three (23), Capital heights Seventh Subdivision,
<br />Hall County, Nebraska.
<br />together with all the tenements, hereditamems 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 end 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 />x
<br />Sk
<br />And whereas the laid mortgagot 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 />?
<br />insurance upon the buildings on said premises situated in the sum of S 20, 000.00 payable to said ASSOCIATION and to deliver to said
<br />AS
<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 nnrtgaged 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 mortgage indeblednes 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 inurme aJ expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and eof C ,coming rentals therefrom; the balance remaining, if any, to be
<br />,
<br />applied toward the discharge of aid nmrtgage indebtedness; these tights of the mortgagee may be exercised at any time during the existence of such
<br />^
<br />default, irrespective of any temporary waiver of the same.
<br />There Presents, however, are upon the Condition. That if the said Murtpgur 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 Mind routed hereby as interest and principal on said loan, on or before
<br />the Twentieth day of each and every rooath, until card loan is fully paid; pay all taxes and assessments levied again[ 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 S 20, 000.00 payable
<br />to said ASSO CIA'FION; repay to said ASSOCIATION upon demand all nwxy by it paid for such taxes, assessments and insurance with interest at
<br />the maximum legal rate the,eon from date of paym nt all of which Mortgagor herrby agrees to pay; permit no waste on said premises ;keep and comply
<br />with all the agreements and auditions of the Blind for $20, 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 of said ASSOWIATION; then these presents shall become null and void, otherwise they
<br />shall remain in full force and may he foreclosed at the option of the said ASSOCIATION after failure for three months to make any of said
<br />payments or be three tnsnths in arrears in making said monthly payments, o, to keep and comply with the agreements and conditions of said Bond;
<br />and Mongagor agrees to have a receiver appointed forthwith an such foreclosure pnocccAltup.
<br />If there is any change in ownership of lie real estate mortgaged ferein, by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, at the option of I'he Equitable Building and Loan Association of Grand Island. Nebraska, become immediately dace and payable without
<br />farther notice, and the amount remaining due undep said bond, and any other bond for any additional advances muck thereunder, shall, from the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage nay then be foreclosed to satisfy the amount due on mid
<br />bald, and any other bond for additional advances, together with all awns paid by said The H4tutabk Building and Loan Association of Chard Island,
<br />Nebraska for man ranee, taxes and amesamonts, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />)"ad rate.
<br />As ptuvded in the Bond secured hereby, while ibis mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />taken of cads id Band, their assigns or successors in interest, which sums shall be within the security of this mortgage the bare 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 i September A. D., 19 85
<br />it
<br />STATE Clp NEWASKA,
<br />ss. On this 30th day of St,pttxtlkxr 14 85 , before ire,
<br />CCfh1NTY OE IIAI.L
<br />the uno:cnsignud, a Notary public in and for said County, peawirally carte
<br />Gerw A. Olsen Firareruxz A. Olsen, each in his and her cwtl right.Wid as sat
<br />and naNyk io
<br />utt7kr t are
<br />me to be the s4eftwal pe,um s whine names are afftacd to the ahrsc rmirnfuctil as murtgagutS arid tIvy savcrally
<br />sole rurwi s" the 'art coviltr nenl io he t1eir vuhuuary acs and deed.
<br />vy1 YNj'ST my trend 444 Notsrtal Seat the date alnrrsaid
<br />rAy 1 <,rntixfaaxxt to tiro. � rt
<br />WW" of
<br />WB
<br />Noun, Public
<br />I
<br />r
<br />
|