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<br />MORTGAGE
<br />005188
<br />THIS INDENTURE, made this __ 11th ___ day of—_ OC.tober_ 19 85_ _, by and between
<br />MILAN _G._RAY AND DOROTHY_tt _ RAY _- HUSBANDA_N_DWIFE____
<br />of Hall County, Nebraska, as mortgagor ___ —_. and Home Federal Savings and Loan Association of Grand Island, a corporation
<br />organized and existing under the laws of the United States of America with its principal office and place of business at Grand Island, Nebraska, as
<br />rrloriga`ee:
<br />WITNESSETH: That said mortgagor_ __S____, for and inconsideration of the sumof THIRTEEN THOUSAND _
<br />SIXTEEN DOLLARS AND NO /100 -------------------- --- - - ----
<br />the receipt of which is hereby acknowledged, da__ - _______ by these presents mortgage and warrant unto said mortgall its successors and assigns,
<br />forever, all the following described real estate, situated in the County of
<br />and State of Nebraska, to-wit:
<br />LOT EIGHTEEN (18), BLOCK ONE (1), SOUTHERN ACRES ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Together with all heating, air conditioning, lighting, and plumbing equipment and fixtures. mrludng 4cnrns, awnings. storm windows and
<br />spoors, and window shades or blinds, used on or in connection with said property, whether the same are now itwaterl an said property or hercatter
<br />placed thereon.
<br />TO HAVE AND TO HOLD THE SAME:. together with ail and singular the tenements. hereditamcnts and appurtenances thensanto he
<br />longing, or in en.Vwlse appertaining, forever, and warrant the title to the same. Said morgugor S hereby covenant with said
<br />mortgagee that they are at the delivery hereof, the lawful owner S of the premises above conveyed and desr-riled.
<br />and.._ __are seized of a good and indefeasible estate of inheritance therein. free and c1car of all encumbrances, and that t will
<br />warrant and defend the title thereto forever against the- claims and demands of all persons whomsoever
<br />PROVIDED ALWAYS. and this instrument is executed and delivered ui soc:ure t he payment of the sum of THIRTEEN THOUSAND
<br />SIXTEEN DOLLARS AND NO /100 ------------------- - - - - -- Dollar, IS 13,015.00
<br />with interest thereon, together with such charges and advances as may Ie due and payable to said mortgages, under the terms and conditions
<br />of the promisesory note of even date herewith and secure -,I hereby. executed by said morigagor S to said mortgagee, payable as expreswcl
<br />in said note, and to secure the performance of all the terms and conditions contained therein The terms of aid note an hereby incorporated
<br />herein by this reference.
<br />It is the intention and agreement of the parties hereto that this mortgage shell also secure any future advances made to said mortgagor S..
<br />by said mortgagee, and any and all indebtedness in addition to the amount above stated whirl, said mortgagnrs, or any of them. may owo it,
<br />said mortgagee, however evidenced, whether by note. hook account or otherwise This mortgage shall remain in full force and effect between
<br />the parties hereto and their heir". personal representatives, successors and assigns, until all amounts secured hereunder, including future
<br />advances. are paid in full with interest.
<br />The mortgagor -5.. hereby assign to said mortgagee all rents and income arising ut any and all times from said prop t -rty and
<br />hereby authortm said mortgagee or its agent, at its option, upon default, to take charge of said property and collect all rents and income
<br />therefrom and apply the same to the payment of interest, principal, insurance premoms, taxes, assessments. "•lairs or improvements
<br />necessary to keep said proparty in tenantable condition, or to other charges or payments provided for herein or in the carte hereby secured. This
<br />rent assignment shall continue in force until the unpaid balanre of said now is fully paid The taking of possession Mneundcr shall in no manner
<br />prevent or retard said eraartleagee in the collection of said sums by foreclosure or otherwise•.
<br />The failure of the mortgagee too assert any of its rights hereunder at tiny time shall not he constnad as a waiver of its right to assert the
<br />same at any later time, and to insist upon and entente strict compliance with all the terms anti pr -14111s of 411311 note and of this aortgage
<br />If said mortgagor S shall cause to to paid to said mortgagee the entire amount duo it hereunto. anti under the terns and provision%
<br />of said note hereby secured, including future advances, and any extensions or renewals thereof in accordance with the terins and pmvisons
<br />theirtaof, and if said mortgagor S - shalt comply with all the provisions of amid note and of this mortgage, then thew, presents shall tae void.
<br />otherwise to »main in full force and effect, and said nortgsgm shall le entitled to the lxoa vssion of ail elf said prop"•rty, and may. at Its option.
<br />declare the whok of said tote and all indebtedness represented thereby it) to immediately due anti payable. and may fortm-tone this mortgage
<br />or take any other legal action to pnAmt its right Appritimement waived.
<br />This mortgage. shall to handing upon and shall enure to the ia•nebl of the heos. exer'titor4, administrators, ae'c -norm and 84en;114 of 111'.
<br />mspectcve parties hereto
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