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79- ~Ut~2fi74
<br />MORTGAGE
<br />MoRTCACE toAN No. L 23407
<br />KNOW ALL MEN BY THESE PRESENTS: That Richard J. Stobbe and Darlene K. Stobbe, each in his
<br />and her own right-and as appose of each other,
<br />Mortgagor, whether one or more, in consideration of the sum of
<br />Twenty Eight Thousand Four Hundred and Pio/100-------------------------------------DOttAas
<br />loaned to said mortgagor by The Equitable Building and Luan Association of Grand Island, Nebraska, Mortgagee, upon P84 shares of stock of
<br />said ASSOCIATION, Certificate No. L 23407 , do hereby grant, convey and rnongage unto the said ASSOCIATION the following
<br />dexribed real estate, situated in Hall County, Nebraska:
<br />LOT FOUR (4), BLOCK TWELVE (12), BOGGS AtiD HILL'S
<br />ADDITION TO TliE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA.
<br />together with all the tenements, hcreditaments and appurtenances thereunto belonging, including attached floor coverings, all window xreens,
<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 and does hereby agree [hat the mortgagor shall and will pay all taxes and assessments levied or
<br />assessed upon std premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to ftunish approved
<br />insurance upon the buildings on said premixs situated in the sum of ` 28, 4DD. UD payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance; and not to commit or permit any waste on or about said premises;
<br />to case of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee shalt,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />rtxrrtgagee all the rents, revenues and income to 6e derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortgagee shall have the power to appoint any agent or agents i[ 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 of repauing said premises and nceessary
<br />commissions and expenses incurred in renting and managing the same and of rnUecting rentals therefrom; the balance remaining, ff any, to be
<br />applied toward the dixharge of said mortgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence of such
<br />default, irrespective o(any temporary waiver o(the same.
<br />These Presents, however, are open the Condition, That if the said Mortgagor shall repay said loan on or before the maturity of said shares by
<br />payment 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 every month, until said loan is fully paid; pay all taxes and assessments levied against said premises and en this Mortgage
<br />and the Band secured thereby, before delinquency: tarnish approved insurance upon the buildings thereon in the sum of 5 28, 400. QD payable
<br />[o said ASSOCIATION: repay to said ASSOCIATION upon demand al! money 6y 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 agreetents and conditions of the Bond for 528, 4DD • QD this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By-Laws of said ASSO('1AT10N; then these presents shall becotrte null and void, othemi~ they
<br />shall remain in full force and may be foreclosed ai the option of the said ASSOCIATION after failure for three months to make an}^ of said
<br />payments or be three months in arrears in making said monthy 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 [here is any change in ownership of the real estate mortgaged herein, by sale or otherwise, tfien the entire remaining indebtedness hereby
<br />secured shall, at the option of The Equitable Building and Loan Association of Grand Island,Nebraska,bocome immediately due and payable without
<br />further noYrce, and the amount :emaining due under said bond, and any other bond for any additional advances made thereunder, shall, from the
<br />date of exercise of said option, bear interest at [he maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due un said
<br />bond,and any other bond for additional advances, together with all sums paid by said The Equitable Building and Loan Association of Crand Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal rate.
<br />As provided in the Bund secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers u said Bond, their assigns or successors in interest, which sums shall be within the security of this mortgage the same as the Funds originally
<br />secured thereby, rite total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />Dated this 2nd day~ogf ~ Mdy A. D., 197 j
<br />c Iar
<br />Rartene K. Stobbe
<br />STATE OF NEBRASKA, ~ ~- On this 2nd day of May 1979 ,before me,
<br />COUNTY OF HALL
<br />Richard J. Stobbe and Darlene K. Stobbe, the undersigned, a Notary Public in and for said County, personally came
<br />each in his and-her own ri ht and as s Dose of each ot11e ~~ who are
<br />9 p `'~ personally known m
<br />me to be the identical perm S whose Werra 5 dre affixed to the above instrument as mortgagor S and they severally
<br />acknowledged the said instrument to be their voluntary act and deed. ''
<br />WITNESS my hand and Notarial Seal the date aforesaid.
<br />MY C n e irta r fj /~ ~'f
<br />~~M'anl. t~~lt~ ~ 3LatR Ct ~tIIraSla
<br />f ~ Notary PubLc ~`
<br />st-sac to .fOY M. BEAZtEY; --°`'~~ ~ % /
<br />__ ' 61y Comm. fxp. Sept. 1, 1981'
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