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<br />MORTGAGE AND OONSTRUcrION SFCURITY J\GREEMENT
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<br />MORTGAGE LOAN NO, L 24,275
<br />KNOW ALL MEN BY THESE PRESENTS: That Gregory J. Otte and Rebecca L. Otte, each in his and rer
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<br />Colonial Estates 2nd Subdivision to the
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<br />ownright and as spouse of each other, Mortgagor, whether one or more,in oonsidetation of the SUlD of
<br />~rty ThoY$ang__gn9L.DQLlQO-~~-~~~~~-----------------------------------------DOLLARS
<br />loaned to said IOOrtgagor by The Equitable Bwlding and Loan A:=c..tion or Grand Island, Nebraska, Mortgagee, upon 30Q sbaresofstodt of
<br />said ASSOCIATION, Certitlcate No, L 24,275 , do hereby grant, eonvey and mortgage unlO the said ASSOCIATION the followio<<
<br />deseribed real estate, situated in flail COlWty, Nebraska:
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<br />Lot TWenty Three (23), Block Three (3),
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<br />City of Grand Island, Hall County, Nebraska.
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<br />together with an the tenements~ hereditaments and appurtenances thereunto belonging, including attached floor coverings, all wiudow screens,.
<br />window shades, blinds~ storm windows, awnings, heating~ air conditioning.aod plumbing and water equipment and accessories thereto,pumps"stoftS,.
<br />refrigerators, and other fixtures and equipment now or hereafter attached to or used in connection with said real estate.
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<br />And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay aU taxes and assessments ievied or
<br />assessed upon said premises and upon ihix morlgage ..md the bond secured thereby beforoe the same shall become delinquent; to furnish apptVICd
<br />insurance upon the buildings ,m said prenllscs situated III the sum of S30, 000.00 payable to said ASSOCIATION and to defuoer to said
<br />ASSOCIA nON the policies for sa.id inswance; and not 10 commit or permit any waste on or about said premis,es;
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<br />In atSC uf default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mort;gqee sbaB.,
<br />on demand, he entitled to immediate possession of the rnortgaged premises and [he mortgagor hereby assigns.. transfers and sets Oyer to the
<br />mortgagee all the rents. fevenues ;md ini...'\Hne to be derivcd from the rnortgaged prenuses during such time as the mortgage indebtedness sbaJl remain
<br />Wlpaid~ and the IllOngagtt shall have the power (Q appoint any agent or agents it may desire for the purpose of repairing said premises and 1CIltiD&
<br />the same and coUecting the rents, re-venues and income. and it may payout of said income all expenses of repairing said premises and necessary
<br />commissions and expenses mcuffed 10 r('nting and maIlagmg the same and of J.:oUecrmg rentals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of said tumtgage indebtedness; these rights 0;' the mortgag<< may be exert.-ised at any time during the existence of such
<br />default, HfespectlVt." of .:my temporary waJver of the same,
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<br />These Presents. hu.....ever, ar~ upon [he Condition, Tha[ If the saId MOllgagor shall repay said loan on 0[ before the m,uurity of said shares by
<br />pay~nt~ pay monthly fU S<.!jJ ASSOCI A nON of the sum specified in the Bond secured helchy as interest and principal on said loan. on or before
<br />the Twentieth day of t'3ch anrll',,'Cry mon~h~ unlil ~it! loan ~s fully paid; pay aU laxes and assessments levied against said preDIiies and on this Mortgage
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<br />and lhe Bond. secured thelt'b}, bcfol~ Jehnq~nq ~ fwnish approved insurance upon (he buildings thereon in the swn of S 30,000.00 payable
<br />to said ASSOCIA nON ~ It'pay Il) s..tld ASSOC'tA TION upon demand ~IU mune}' hy It paid fm such ta.xes, assessments and insurance with interest at
<br />{he mu,.lmUlIl legal tale til:CIt."On fn..lfn dalt," i,lf payment all of which Mongagor heleb~ aglees to pay~permit no waste on said premises;keep andoomply
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<br />with aU tht.: agfn'ulCllts and .:xm:.iitlun.s.nf th~ Bond rOJ S 30...1 000 .00 Ihis day glveo by (he said Mortgago( fo said ASSOCIATION. and comply
<br />With aU the tet.luuen:telHs l,f the CnnsufUuon ant.!. By.Laws 01 s.ajd ASSOC1ATtON~ then these presents shall become null and void,othetwise they
<br />sha11 IClllalfl in full fOh:C and limy he fOH~\,:jt)~u at i.he optitUI 'Jf the said ASSOCIATION after failure for three months to make any of said
<br />payments Of ~ thu,'t;' ilkmlhs III .:1I1~afS m Illakmg ~Id monthly payments, 01 to k.eep and rumply with the ei.groomef\ts and conditions of said Bond~
<br />and Mungagut agll"CS h,.\ h<.lW '-! ICI.:.t..'lYt'I ;1ppuinko forthWIth III such fmcdosun: plOceedings,
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<br />If tl\eft' is ~-Ul.) change in o'l\nerShlp nf tht" rcall"stalc lHortgagt..""t hctein. by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured :>haU. at th~ option of Th~ Equitable BUlldmg and Loan Association of (;rand Island. Nebraska. become immediately due and payable without
<br />furtllet noticc, :md the amuunt r~tllitining dOl:- UCUiCf .sanl bond, ;lud any other bond for any additional adwlU:es made thereunder. shall. from the
<br />date of cxcrclSt:: ~)f s.a..iJ option. beat lni~res.l at tile lrutXJmWn legal rate, and this mortgage may then be foreclosed to satisfy the lllllOWlt due on said
<br />bond, and any other bond rOI additional adVdt1t.--es. lQgclher with aU sums paid by said The Equitable 8uilding and Loan AssociBtion of Gmnd Island,
<br />Nebr;,u;ka for insUI:in..~~. taxi.~::), ..ad as:::iCSs'UiCiii.S, ;iiiU ahsif3diHg ~J\i.cftSJon ~haigc;s, willi miercsi thereon, from date of payment at the maximum
<br />legal rate,
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<br />As pmvided in the Bond sct:uH.'d hereby, while this mortgage r~malns in effect the mortgagee may hereafter advance additional sums to the
<br />makcIs uf said Bond, thdr assig.ns Uf SU\.'.c~SSOJS in imcJcst, which sums shall be wi.thin the secwity of this mortgage the same as the funds originally
<br />secured thereby, lhe !lHai amount ,If ptin..::jpal deht nol 10 t'xcc.cd ilt any tun...' the nriglliai amount of dill mortgage.
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<br />,,)Daled Ilus 22nd/,.. ,Jay of October
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<br />'4, .;., / ~ ,~~c, ,; ,/~~"n_
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<br />A.D.. 1'1 84
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<br />STATE OF NEBRASKA,)
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<br />COUNTY Ol' llALl \
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<br />On this 2200
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<br />riayof
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<br />Uctober
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<br />19 34 ,belore Ole,
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<br />the uuJetMglu:J".). N\H.al) l~ubh(:, lit aud fur said Cowtty, pecsdt\41ly .:.amc
<br />Gregory J. Otte and Rebecca L. otte, each ll1 his and her (''-'In rightwiltpda.r'~ SiX'Ii~I....~l<'f~f\o
<br />Ot!ler, .~;
<br />me (u he tlk' l\jtUllal per:\lms v.hos.c l\<!lflC oS me ,dlixcd [u thr. ahUVi;; Hl.'i.tlUlH~:n:' ct:" llh..'Hgag"-H S ami t.hey se\'erally
<br />lld.tli.rW'k-J-ged the :iaIJ Jl:ljHlHt~~iH i...l he their "l)lutH<.H,' ..d and ducJ
<br />WI rNt.~ m...- h.1It.~J ;JIIU NHLaual S('...! fhe date- aliucsaHJ.
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