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<br />KNOW ALL MEN BY THESE PRESENTS That
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<br />MORTGAGE LOAN No.__~2<h288 _
<br />Bernard L. McGahan and Carol A. McGahan, each in his and her
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<br />own right and as spouse of each other, Mortgagor, whether one or mOTe, in consideration ofthe\mmof
<br />EifteeIL.Tbousandm.and.na!lOO:c=-:-::--':"-:-:."':.-:.::-:-=:::-...====_==-:.-:.-:-:=::=::..-:......:::.::====-':::::::::==---=-DOllARS
<br />loaned tll ",id mortgagor by The Equit.ble Building and Lo.n """"dation of Grand l.bod, Nebraska, Mortgagee, upon 150 shares of stock of
<br /><aid ASSOCIATION, Certificate No. l. 24,288 . d" hereby l\r&nt, c'{lOvcy and Jl1(lrtgage unto the said ASSOCIATION the following
<br />der.cribed re3J estate, sHuated in Han County. Nehraska:
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<br />All of Fractional Block TWenty Five (25) in Schimrer's
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<br />Addition to the City of Grand Island, Hall CO'-_1.11ty, N<>-braska.
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<br />together with ail the tenements. he.edl!a.rnents :lnd appurtenances thereunlo hetonging~ including attached floor collaings, an window ~
<br />window s.hades. blin.d.'i. storm wmdows, j.wmngs. he3.Hn~~ an conditioning., and plumbing and water equ.iplncnt and accessories thcreto,.PWJlPSt-~
<br />refrigerators.. and other flxtures and ~qUJpmem rhJW or hereafter attached to or used in t.:onnection with said re-al estate.
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<br />And whereas the $..ud mongagm has agreed ami does hereby agree that the mortgagor shaU and will pay all ('axes and asseaJDC'IJ:ts levied Or
<br />assessed upon said prerruses and upon HilS morl~C and the bond seemed thereby before the same shall become delinquent; to furnish -approlIIIHl-
<br />insurant-'C upon the build:ngs on s.ud plemiscs sltWi1e-a m the sum of $ 15.000.00 payable to said ASSOCIATION and to de1AeJ to said
<br />ASS()('L\Jl0N the pO-bClCS- for 'i<jid mswance; and n01 to commit OJ permrt'any waste on or about said premises;
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<br />~ n (ilk of default in the- perfo-rmance of any \~f the te-rms and conilitions uf this mortgage or the bond secured hereby, the Jll()J'tppe shall,:
<br />on d~illiliid. be erHItkd tu immediai.c: JRlSSeSSiOfi of thc mortgaged premises and the mortgagor hereby assigns~ tramfers and sets over- to the
<br />morl~ aU the lents. levenues and income to be derived from the mortgaged premises during such time as the mongage ind.ebted.ne1la sbaD--remain
<br />unpaid~ .and the n'Klftgagt.~ sf-wH hn-e the powel H) appoml any ag~nt or acgeHts it may desire fUf" the pwpose of repairing said plcmiscs and.rentio&
<br />the same and colleding the rents. revenue:': ,;.iOld m-come. and It may pay nut of said income aU cx.peD$C$ of repairing said premises and occcssuy
<br />commissions and expenses mew-Ted to renting and marntgtng (he satne and of ~"OUecting rentals therefrom; the balaru:e remaining~ if any~ to be
<br />applied toward the dtscruugc of $1u1 nk'Jrtgagc indebtedness; these riRhts uf the mortgagee may be exercUed at any time durirJ<< the cxistmc::e of s:uch
<br />default, nres~~tive of any lemporary waiver of the same.
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<br />i~se ne~1l1s. hUW....vef. Mt: upon lhc Condilion, That If the saul Mongag<H shall repay said .loan on or before the maturity of said shares_by
<br />payment.; pay monthh' h) ':i<UU ASSOCIA nON of the sum speciJieo in the Row secured hereby .as interest and principal on said loan,. on or before
<br />the Twentieth day of each and t'\'C~y (Bomh, umil said loan 1$ fully palo; pay aU laxes and~nents levied against said: premises and on this Mortpp:
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<br />and the- Bonu set.:uleti therclJ.Y, bdi.H~ J.c!mqt..eu-c)'; ,'mHJ5h app-w-vt:-.J mSUl:tJk.."'C; upon the buildings thereon in the SUa'll o-f S 15,000" 00 payable-
<br />;0 said ASSOCI.... nON; repay", ""d ASSOCIATION upon den..nd all mOlley by it paid for such tax..., ..........nts and insul1lO(:C with interestal
<br />lhe rrulx.imum kga,1 f~k thc;l'on frulH date of payment aH of WhkCh Mortgagor hereby agn:e.s to pay; permit lID waste on said prcmises;keep andc:omply
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<br />with aU the .ltgJt.'1:HlCtits.ljHU ,;oHi.huon~ \.If lh~ Bona fOJ $ 15, 000 ~ 00 thIS day given by the said MOItgagOl' to said ASSOCIATION, and oomply
<br />-.itll dU the re-quuements 01 [he l onsHtuUon <l.od Ey-t..aw":i- (if "NtG A~Ol':lATiUN; (hen these p-re3Cflts s:hall become null and void1- othawilc they
<br />shaH lenwin IH fuB fHII..'e .100 may be hHCdo~d at [he option of lhe said ASSOCIATION after failwe for three months to make any, of said
<br />p.it)'ulcnts OI be thn:c HH.m-i.hs m ar{~.us m makmg scud momhly pa)'menb. vI to keep and comJ)Jy WIth tbe agIee-ments and conditions of said Bond;
<br />and MOrlgagOJ' ;igH.-"e~ tu h.....e <! H:t..:civcl appointed forthwlih in s.w:h foreclusure p'fllCeedings_
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<br />If thelt i.s any change lI1 uwneryup of the real estate- rnoltg3b-ed herein. by sale Of otherwise, then the entire remaining indebtedness hereby
<br />"",\ned shali, at !ho "pll"" "I The ,'quitable Building and Loan ASSOClJlllOn "i'{;r.nd hbod, Nebraska. become immediately due and p"yabIe without
<br />fUlthr:t nuhcc, and t h(: <ilOount Ix:m.a,l!ung Jue unUcr s.aid bi:md, ~nd an:)!" uther bond for any additional adwnces made thereunder, sb.iJl" from the
<br />date of cAer.;,is.e of sai-d "PUDl!. be.al lntcfcst al the mamnUH1 kgal rate. and this mortgage may then be foreclosed to satisfy the amount due on said
<br />bond. and allY other hum! for Jd.dtlionai ;auvit.llces, together with ill SUillS paid by S2id The E<lwtable Building and Loan Association of Grand bIud,
<br />Ne-brMka I'm inSUlarh';!;, T.:txx.'!. .Inti a:\SeSSU1etHs. and ab1lI'actHig e_~lcnsiun ,,;haiges, with mt~t(:sl thereon, from date of payment at tbe maximum
<br />legal tate.
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<br />A_s pw'Vu.ied m th<, Bon:.l Sil..~""uH:d herehy _ while lhl:i moHg3g-C Je-m.ain.) in cftec.{ the mortgag4.-"e may hen~afte[ advance additional sums to the
<br />make::. oJf 5aHI BoHJ, the-i. .i>>igHS ,)j jU(;";c~H~ if I init;"lI::~'ti. wiud~ sums shan h-e withiI~ the security t~f this mortgage rhe same as the fWids origma1ly
<br />_....~,.:iifC_~ t~fi"h'.ty. ir~ h)~;ii -J1iK"iihii ,-~f pi'Ui\:i~l dt~i fiat \0 \-.x-u:-\.-<-;J it ,''-li, tune the fHiginai amQu.iH uf this rn<a-tgagc.
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<br />-".....~~. . .-:' DakJ [hi::; i 2.6Jt; .'_ .' _ ~~f /: November A. D., 19 84
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<br />II >.A;/J/}'t,l,tl; l;jll/(h,l~o/'~
<br />It:7}~~~~L--~'~ ->~}~., ~~"J~~---.--_.-
<br />-'~-cai'ol. A. McGahan."
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<br />~'TA1E OF NEllRA'iKA. t >'.
<br />COUNTY 01' HALl i
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<br />On ihj~
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<br />26th
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<br />NC1Vemt:€ .r
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<br />1'1 84 ,before me.
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<br />,hc UW.iCiygfll'J.;j NOl.uy Public in and fOol ~ County, personally c:;ame
<br />!:lemaxd L-. McGahan and Can,)l A. I-lc":(;ahan, edeh lJ1 IUS and hel- o..'fl ngl;lfi" ":'l'ieas S~_y<t~'1
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<br />nw..~ Ii) h< ti~ ~dfo"Ht>,,'..~J rx'r~mS wh-o~;(' H.<tft:-1: S aJ.__t~ :tf1l~.€<J tu the abt)n' ms.truJ:ncnt -Jij;. mi:J~4:aguf S. :J,...d t nt.o!v <;e~~y
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<br />"TfNt ..."'<.';. H;l:),,' !~ii-H--'-~ \'<f..u :NnL~..H,-1-l Sr.ai thi' ,-iM~ ittHi=;::~..ti
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