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<br />'d`hisYnderature,Maaeb anabetween ....... 7ERR€NCE_,SCHM,IDi'._and Bl1RBARA.,.SCIiMIDT,__kiusband-_and,._Wife.,.
<br />and KENNETH W. STAA~ and ROSE MARY STAAB, Husband and Wife
<br />8na THE OVERI:ANO NATTONAt"'BANK OF 6RA1Vi3 IStANU, Granc~~~`s15'n~;m~`e~'ra'~ ca,r~iereina~i`r`e°rt~"aar
<br />referred to as Bank
<br />QQ Q _7 -.----.c---.-.cc---_-.-r. -r.-.-rr-.-r,.r..-.-.c-.-.- . ......................_._-
<br />'L'heMortgagarf:;randinconaidorationof($...1..~Z,. .. ... -. ----------
<br />QRE,_t~t}t}URfD_.~~RTY-TWQ__TNOU5AND AN0_NO/laQ_-_---.-.--.--,--.-----.-.-.-_-_-_------.--D~LLAR.fi,paidbythebank,
<br />the roe®ipt whetcof is hereby acknowledged, has granted, bargained, sold and ronveyed, sad by the presents, dcea grant.
<br />Bargain; se13 and convey, onto said bank, the fallowing described real property situatt~l in theCounty of _,...ryd !__!„.,..,,....._.-......-._-----._......--
<br />a*d ~tafe of Nebraska, tv-wit:
<br />Part of the 5E~SE~ of Section 21, Township 11 North, Range 9 West of the Sixth P.M., mare
<br />particularly described as follows: Goilrnencin5 at the Southeast corner of Block 16, in
<br />Pleasant Home Subdivision in said Section; running thence Westerly along and upon the
<br />Southerly 7-ins of said Pleasant Home Subdivision a distance of 294 feet; thence running
<br />Southerly, and parallel to the East line of the SE~SE4 of said Section 21,-for a distance of
<br />Fifty Two (52} feet; thence Easterly parallel with the Southerly line of said Pleasant
<br />Home Subdivision, a distance of 294 feet; thence Northerly Fifty Two (52} Feet to the
<br />point of beginning, except a tract of land conveyed to the City of Grand Island by
<br />Warranty Oeed recorded in Book 153, Page 486.
<br />together with all the tenements, hereditaments and appurtenances to the same belonging, and all the estate, tide, claims and
<br />demands whatsoever of the mortgagor of, in or to said premises or any part, thereof; sad said mortgagor does hereby cov-
<br />enant, that tke mortgagor is lawfully seized of said premises, that said premises are free from incumbrance and mortgagor
<br />will warrant and defend the title to said premises against the claims and demands of all persons whomsoever.
<br />PRi3VIDED AL4PAYS, and these presents are upon These ~oaditians:
<br />WHEREAS, the mortgagor has exoeuted and delivered tr, the Bank --. d - Cert_a'1-n_..-- .............................. promissory Hots- '':
<br />dated November 22, 1978, in the amount of 5142,000,00 at an interest rate of 9.75%, which
<br />note is sctieduled for monthly payments of 51,346.92, applied first interest and then
<br />~rincipal, with the first ppayment due January 5, 1979, and subsequent payments due on-the
<br />th day of each month, witfl a maturity date of November 22, 1990, at which time-the entire
<br />ttn~i~idncipal balance plus accrued I~it~erest shall become ~ue.
<br />au as d to maintain ire, w ndstorm and eaten a coverage ,neurones ar, sal premises in amounts required-and in
<br />campaaies approved by the bank and with standard mortgage clauses vrhieh policies shall be delivered to the bank, and -has
<br />agreed to pay ail taxes and assessmer s levied against said premises before the same become delinquent end -to maintain said-
<br />prem:ses. - _
<br />Now, therefore, if the mortgagor shall comply with all o_` tna prvvisioas of said note and the provisions her._z,_, then _
<br />these presents shall be Hall a^a void. - -
<br />I3owecer, if the aiaove note and interest thereon ar any payments called for thereon are not paid when due or if atiy
<br />of the eorenants_of this instrument are rot complied with, the bank, ar the holder hereof, at its option mey declare the ie- -
<br />mainiag balance o€ said indebtedness due and payable and may maintain an action at law or in equity to recover all amounts -
<br />due and enforce the provisions hereof. In the event of the failure of mortgagor to maintain the premises, ar to maintain -
<br />insurance as is above provided for, or to pay taxes or assessments, the holder hereof may advance the sum or sums necessary - _
<br />to obtain compliance and such atnaunts shat! be added to the amount due on the stove mentioned note and Bear interest-at -
<br />tho highest legal rate. -
<br />IT IS FURTHER AGREED, Lhis mortgage shall constitute notice hereof, that this mortgage is security for not only
<br />the amount advanced concurrently with the execution hereof but all future advances which map 6e made aL the option of the - -
<br />partias or their assigns up to the total amount stated in this mortgage, to the same extent as advances originally made here- -
<br />nnder. Further notice is hereby given that the tenor of each hfartgage Note including the interest rate, payment, maturity,
<br />penalties, and other terms s1;all coneurrentIy upon execution become a part of this mortgage.
<br />TI' IS FURTHER AGREED, that the said iortgagor shall and will pay ail faxes levied upon this mortgage or the debt
<br />secnred tberebg, together with any other taxes or assessments which may he levied under the Laws of Nebraska, against the
<br />said Mortgagee or the legal ha}der of the said Principal note, s} on aceoant of *.his indebtedness.
<br />IT IS FURTHER AGREED, if at any time, motile the mortgage is in effect and the nose for mhieh this mortgage is
<br />~ivea of sac,arity, or any part thereof, r?mains unpaid, the undersigned ~'crtgagors sell, convey or contract -ta sell the- real
<br />estate herein described, or any Bart thereof, or the 3iortgagors do not have or cease to have title to said real estate or ang
<br />gait thereof, then and in any such events. the 3iortgagec may, at its option, declare the unpaid principal balance, and interest, ..
<br />of the note secured hereby immediatei3' due and payable. 1n the event that these premises are not now, or should hereafter, not
<br />Be occupied by mor~agor then this instrument shad constitute an assi¢nment of rentals and service of s copy thereof upon the
<br />occupant shall be sufficient to require ail payment for rental ar use of the premises after date of such service to made to
<br />mortgagee. - .
<br />signed thia...___-22r1d..._.......day of_....... Ptovzsmber._.......... 19.p._78 ---
<br />Ya:~~aurr~?~x -
<br />~ -fierrenc~ .5~._crd`~~,~.u,,'-~~,_/j_~...~;..,... //..~~~..:._._ ,
<br />.,~+;~.~~~..... .. .. _ .__._..._ _ _ $srbara...S.etmlidi; '~~.°_~~?-t~ ~,_.....
<br />s~nTlr of .NEBRASKA....-_ ,county of Ni=i~l~ . .__... _ T~,~nce afld Bar ajr"a Se~t~}'dt, usba d ~
<br />Before mc, a-notary public q~alifiesl for said county, personally came Wlfe, dnd Re net~~i W anQ - ~OS2 Y'y ~ta3~}
<br />krawn to ma to be the tdentical person ar persons w•ho signed the forogoing ' s en and n edged tha execution ere-
<br />of ~ be his, her or thetr voluntary sot aml deed: CiuSDan~ an 7 Te
<br />a ijsr;ai seal on _..._ ...........:.......
<br />lion. expires :.............,,.,..........:.--~---'--.-.. _. 19.-...{
<br />$TAfiE-.OF'. _--•---......._ ....._.:_: ..---`......,. ._.-- - } - Entered- en- *_n±rnerisai index-ataet filed for reeo~
<br />sa.
<br />County .___...,._._..._...._.:_..._ ...:......................:.:..:......_, j 1n the Register of Deeds affiae of said County the
<br />..._...._..__,......,.,.day ot.._._.._....._......__,._....:...._.,- 12._..._---,, at.,......------......._......_a'dock and ....................:.......--.._.minutes ._._.-°-_.......M.,
<br />sad recorded in B+wk .................._.:.....:......._:,.....©f......--._.....::._...- -- .....__...:-.at page..........._...._.... _...........-....-.........
<br />- .-.._ ................'.--...._.........._.............................._...-._....._...Reg. of Deeds
<br />- - 8y ..............................._........_......._....._-.......__.........__ ..._.........Deputy
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