|
85- ,00507!
<br />MORTGAGE _ See L 23,219
<br />r_ MORTGAGE LOAN NO. L?d 4-1q
<br />KNOW ALL MEN BY THESE PRESENTS: That Paul L. Ludwig and Connie L. Ludwig, each in his and her
<br />own right and =spouse of each other, Mortgagor, whether one or more, in consideration of the sum of
<br />Three ThOUSand Five Hundred and no 100------ _— ____— _ LIARS
<br />loaned to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 35 shares of stock of
<br />said ASSOCIATION, Certificate No. L 24 439 , do hereby gram. convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, tN�ebraska:
<br />Lot Ten (10) in Capital Heights Fifth Subdivision, being a
<br />part of the Southwest Quarter (SW;) of Section Two (2) ,
<br />Township Eleven (11) North, Range Ter. (10) West of the
<br />6th P.M., in 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 same shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the son of S 3 500.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance. and not to commit or pert any waste on or about said premises:
<br />In rue 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 imxrme to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the muirigagee 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 income all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and of collect,: o rentals therefrom: the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage mdebtedncss; these rights of the mortgagee may be exercised at any time during the existence of such
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor shall repay card loan on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the &cod 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 5 3 500 .00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all muney by it paid for such taxes, assessments and msurance 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 5 3 , 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�ASS(CIATION; then these presents shall become null and void, otherwise they
<br />&lull 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 Building and Loan Association of Grand Island, Nebraska, become immediately dire 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 />dale of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due an said
<br />bond, and any other bond for additional advances, together with all sums paid by said The liquitahle Building and Loan Association of Grand Island,
<br />Nebraska for insurance, taxes and assesarnents, and abstracting extension charges, with interest thereun, from date of payment at the maximum
<br />leo Tale.
<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 [kind, their assigns or successors in inter est, which sums shall be within the security of this mortgage the same as the funds originally
<br />secured thereby, the total amount (if principal debt not to exceed at any little the original amount of this mortgage.
<br />Daied this 4th . flay of December A. O., Ira 85
<br />- UZA, -_
<br />STATI? OF NEBRASKA, t On this
<br />COHINn OI' IfALL S 4 }It day of Deceml.�er ty 85 , before roe,
<br />the undersigned, a Notary Public in and for said County, personally cattle
<br />Naul L. Llxiwiy and Connie L. Ltxywicl, each in his atxi txr awn right N i as Spo serve allyknowntn
<br />other,
<br />me to he the identical prrwirr g whose name S are affixed to the atxrve nrsirunient as multgago, S and they severally P.
<br />acknowledged the %aid urstri vent to be thLir voluntary act and deed
<br />WITNFM ms hand and Notarial Scat the date aforesaid
<br />My
<br />Public
<br />
|