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79-~~ ~U~.~3~2
<br />MORTGAGE
<br />MORTGAGE LOAN NO. L?3T~
<br />HIYOW ALL MEN BY THESE PRESENTS: That Fred L. -Scarborough and Merri 1 ee S. Scarborough, each
<br />in his and her own right and as spouse of each other
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />~gh#pen Thousand and No/I00=-_---------------------------°---°----'-------------= DOLLARS
<br />loaned to said mortgagor 6y The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon I$D shares of stock of
<br />said ASSOCIATION, Certificate No. L L$3$2 , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />LOT SEVEN (7) TN BLOCK SEVENTY (70), WHEELER & BENNETT'S
<br />SECOND ADDITION TO THE CITY OF GRAND ISLAND, NEBRASKA.
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attadud door coverings, all window screens,
<br />window shades, bends, storm windows. awnings, healing, air cnnditioning,and plumbine and water equipment and accessories thereto,pumps,stoves,
<br />refrigerators, and other t`txtures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And whereas the said mangagor has agreed and does hereby agree that the mong.;gur shall and will pay all taxes and assessments levied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby befog the same shall become delinquent: to Ruttish approved
<br />insurance upon the buildings on said premises situated-in the sum of S 1$ s000, 00 payable to <aid ASSOCIATIO4 and to deliver to said
<br />ASSOCIATION the po}icies for said insurance; and not to wmmit or permit any waste nn nr about said premises:
<br />In case of default in the performance of any of the arms and conditions of this mortgage or the bond secured hereby, the mortgagee shall,
<br />on demand, be entitled to irrmediate possession of the tnortgaged premises and the morta-Agog hereby assigns. transfers and sets over to the
<br />rtwrtgagee all the rents, revenues and income to be derived from the mortgaged premises dogleg such time as the mortgage indebtedness shsll remain
<br />unpaid: and the mortgagee 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 inwme, and it may pay out cf said income all expenses of repairing said premises and necessary
<br />commissions and expenses incurred m rertin¢ and managing the satrre and of colkcting rentals therefrom: the balance remaining, if any, to be
<br />applied toward the drsct'arge of said mnrtgagt indebtedness: these rights of the mortgagee may be exorcised at any time during the existence of such
<br />default, irrespective of arty temporary waiver of the same.
<br />These P:tsents, however, are upon the Condition, That if the said Mortgagor shad repay said [aan on of before the maturity of said spates 6y
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal on said loan, on ar before
<br />the Twentieth day oT each and even' month, until said loan is fulk• paid; pay all taxes and assessments levied again=.t >aid orenrises and on this Mortgage
<br />and the Bond secured thereby, before delin~luency; furnish approved insurance upon the buildings thc7eon in the sum of S I$ rQOQ, DO payable
<br />io said ASSOCIATION; repay to said AS-SOCiATION upon demand all money by ii paid for such taxes, assessrrenis a:-~dznsutance with interest at
<br />the maximum kcal rate thereon from date of payment 211 of which Mortgagor hereby agrees to pay: permit no waste on said premises; keep and comply
<br />xitb all the agreamarts and conditions of Lhe Bond for S j$ ,OOQ, QQ this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />wtit6 all the re+{tdremenis of the Constitution and By-Laws of said ASSOCIATION: then these presenu shall become nu12 and void, otherwise they
<br />shall remain in full force and may be foreclosed at the option of the said ASSOCIATTO\ after failure for three months to make any of said
<br />payr~nts or be three months in artears in making said monthly payments, or to kelp and comply with the agteorten[s and conditions of said Bond;
<br />sad Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings.
<br />If there is any change in ownership of the real state rrwngaged herein, by sale or otherwise, then the entire remaining indebtedness hsreby
<br />secured shall, at the option of The Equitabk Building and Loan Association of Grand Island, Ne6*_asica, become immediately dtu and payabk without
<br />further notitc, and the attntunt reatainittg dtte under said 'nand, a.~d any other bond for any additionat advances trade thereunder, shall, From the
<br />date of exsrtase of said aptpon, heir inurtst a[ the maximum legal rate, and this mortgsge may then be forcclased to satisfy the amount due on acid
<br />6rmai,aad any ether bared for additional adv~s, toaeiher with all surt:s paid by said The Equitable Building and Loan Association of Gtard Island,
<br />Ptebraslza for insurance, taxes and assessments. artd abnraMing exuttsion charges, with inurest thereon, from data of payment at the trtaximum
<br />Iega1 rate.
<br />As providedsn the t3ond sectued hereby, while this mortgage remains in effect the mortgagee racy hereafter advance additional-sums to the
<br />tmkets of said Bond; their assigns nr sucxssixs in inurest. which sums shall be within the security of this nrortgage the same as the funds originally
<br />aecttttd thereby, the. total amount of principal de~b~t not~to exceed at any lime the original amount of this mortgage.
<br />Dated this ~ day of (-7-` _ _ A. D., 19 %g
<br />~~~~~
<br />rest L. Scarbo gh
<br />~e r '~'e~e~L`~car orou~~~
<br />STATE OF NEBRASTCA, ~ ss. ~ thts .3 day of ~0l~t:.~ 19 ~9 ,before me,
<br />couNTY of HALL
<br />the undersigned, a Notary Public ;r and for said County, personally came
<br />Fred L. Scarborough and Merriiee S. Scarborough, each in his and hµ~o Dorn righ~rsora~y~Cr~ownro
<br />spouse of each other are
<br />tae to be tht itknticsl penat5 whose names are afRxed to the above instrument as mortgagor S and they sevtrallY
<br />adtaowledged tbe said itrsttument to be their vo}untary aM and dad.
<br />9Y[TNESS my hand and Notarial Seat the date aforesaid.
<br />My Cornmiutan cxpirea g~ arj/ /~,~~ (~ it
<br />f ~ ~/~%~%~Pubh
<br />a.t-sat Ht .ice....
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