|
<br />'+iORT[;.A{;Y. LrDA': ti0. L 23397
<br />XtiON' ALL.4IEN BY TiiFSE PRfSEtiTS: ?hat Wl l l i d131 $. SChuersnann af::~ Gail L. Schuermdnn , each i n
<br />his and her own right and as spouse of each other
<br />l+ioztgagor, wi?ether one ur more, in urnsideratian of ih.e sum of
<br />Forty Eight Thousand and No/100----------------------------------------------------~LLARs
<br />loaned io said mortgagor by The Equitable Building and Loan Assacia tor. of Grand Island. tiehraska, Mortgagee, upon 4$O shares of stock of
<br />said ASSOCIATION, Certificate No. L23397 . do hereby grant, convey end mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in HaU Counr:, \ehraska-
<br />A TRACT OF LAND COMPRISING A PART OF THE NORTHWEST QUARTER OF THE SOUTH-
<br />WEST nllauT~p tlrpol.ctAt~1 OF SErrrnst Ttn,Ettrr_nut: t2, \ t~, •rnr.,.=SHiP ELEV"cei {it
<br />.~v. ,... r,. inn-q.. 4/ V~tV.I {/~1L t 1/, 1=\ Ilirl~\ l
<br />NORTH, RANGE NINE (9) WEST OF THE bTH P.M., MORE PARTICULARLY DESCRIBED
<br />AS FOLLOWS: BEGINNING AT A POINT ON THE EAST LINE OF SAID NW'45W;, SAID
<br />POINT BEING SEVEN HUNDRED FIFTY-SEVENAND FOUR TENTHS ;757.4) FEET SOUTH
<br />OF THE NORTHEAST CORNER OF SAID NW;SWQ AS NOW LOCATED; THENCE DEFLECT-
<br />ING RIGHT 90000' AND RUNNING WEST A DISTANCE OF TWO HUNDRED THIRTY {230)
<br />FEET; THENCE RUNNING SOUTH AND PARALLEL TO THE EAST LINE OF SAID NW4SW4,
<br />A DISTANCE OF TWO HUNDRED FIFTY-NINE AND FIFTY-FIVE HUNDREDTHS (259.55) FEET;
<br />THENCE DEFLECTING LEFT 90°00' AND RUNNING EAST TWO HUNDRED THIRTY {230)
<br />FEET TO A POINT ON THE EAST LINE OF SAID NWt,SW;; THENCE RUNNING NORTH
<br />ALONG SAID EAST LINE, A DISTANCE OF TWO HUNDRED FIFTY-NINE AND FIFTY-FIVE
<br />HUNDREDTHS 259.55) FEET TO THE POINT OF BEGINNING, AND CONTAINING 1.370
<br />ACRES, MORE OF LESS, SUBJECT TO RO.",D RIGHT-OF-WAY ALONG AND UPON THE EAST
<br />EDGE OF SAID TRACT. HALL COUNTY. NEBRASKA: EXCEPT THEREFROM A TRACT OF GRQUND
<br />rc t. RUCU aR I nC f r aLG r rccuia r r=rc yr v~ o yr a i.v n i , ,~an.n./w..
<br />together with a t e tenements, heredt aments an appurtenances thereunto a ongtng, me u mg at ac ed door rnvermgs, alt window scrttns,
<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 end does hereby agroe that the mortgagor shalt and wilt pay all taxes and assessments tevted or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the came shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 4$ ,000.OO payable to said aSSOCiATION and to deBver to said
<br />ASSOCIATION the policies for said insurance; and nor to commit or permit any waste on or about said premises:
<br />In case oC default in the performance of any of the terms and conditions of this mortgage or the bend secured hereby, the mortgagee shall,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, tra.^sfers and xts over to [he
<br />mortgagee ail the rents, revenues and inwme to be derived from the mortgaged premises during such ume as the mortgage indebLedttess shall 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 income, and it may pay out of said income all expenses et repairing said premises and necessary
<br />commissions and expenses incurred ir. renting and managing the same and of collecting rentals therefrom: the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness: these rights of the mortgagee may be exercised at any time during the existence of such
<br />default, ~rrespeetive of any temporary waivrer of the same.
<br />These Przsents, however, are upon the Cardition, That if the said Mortgagor shall repay said roan or. or before the maturity of said shares by
<br />payrnenr, pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal on said loan, on or before
<br />the Twentieth day of each and even month, until said loan is fully paid; Pay ail taxes and assessments levied against said premises and on this Mortgage
<br />and the Bond seemed thereby, before delinquency: furnish approved insurance upon the buildings *_hereon in the sum of S 4$,OOO.OO payable
<br />tc said ASSOCIATION_ repay to said ASSOClATIO :upon demand ail money by it paid for such taxes, assessments and insurance with interest at
<br />the maximum legal rate thereon from date of payment all of which Mortgagor hereby agrees to pay: permit no waste on said premises;keep and comply
<br />with all the agreements and conditions of the Bond for S 4$ OOO.OO tMs day given by the said Mortgagor to said ASSOCIATION, and comply
<br />wish all the requirements of the Constitution and By-Laws of said ASSOCIATION; [hen these presents shall become null and void, otherwise they
<br />shall 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 indebtedneu hereby
<br />secured shall, at the option of The Equitable Building and Loan Association of Grand Island, Nebraska, became immediately due and payable without
<br />ftuiher notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shall, from the
<br />date of exercise of said option, beaz interest at the maximum legal rate, and this mortgage may then be fottcWsed to sacsfy the amount due on said
<br />bond, and any other bond for additional advances, together with al] sums paid by said The Equitable $uilding and Loan Aswcia[ion of Grand Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maxirnum
<br />legal rate.
<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 Bond, their assigns ur successors in interest, which sums shall be within the security of this mortgage the same as the funds originally
<br />secared thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />~ oa~ 23~ day oC April A. D., 19 79
<br />W~am ~ uerlnann~
<br />a? a uermann
<br />STATE OF NEBRASKA, t ~. on a,;S 23rd say of Apri 1
<br />COUNTY OF HALL j
<br />19 79 , befoce me,
<br />the undersigned, a Natary Public in and for said County, personally came
<br />William S. Schuermann and Gail L. Schuermann, each in his and her ol~n ri~ht and a~~p oust
<br />U'f edCtl other w o a e person ly-Krtown o
<br />'~
<br />rtx m be the identical perm 5 ~rn6~~~ affixed to the above instrument as mortgagor S and they severally
<br />acknawledged the said instrument t t~~~ .~`'•.y~init~ry act and deed. -
<br />MTNESS my ltdlQbtartalSeal tlre~daTe'oresaid. -C~~~~?~~ ~ .
<br />h} Y
<br />My Commissiorr~xnir~s ~~ ~ ~s0 i'
<br />{ ~' -v lit
<br />,,~ ` -l ,. ~ - Natary Public
<br />sa-uu at 'rl, '-: r i c
<br />
|