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79-~~{,025
<br />MORTGAGE
<br />Moarcacr_LOaN NO. L 23457
<br />IQJOwALLMENBVTHESEPRESENTS:That Jesse E. Mercer and Maurine J. Mercer, each in his andher
<br />own right and as spouse of each other
<br />----------------Mortgagor-whether one or more, in consideration of the sum of
<br />_Twenty Seven Thousand and NO1100- _~}LLARs
<br />t^A:;~d to said nwngagor by The Equitable Building and Loan Association of Crand Island, Nebraska, Mortgagee, upon 270 shares of stock of
<br />said ASSOCIATION, Cenifecate N33457 , do hereby grant, convey and mortgage unto the said ASSOCIATION the CoUowing
<br />described real estate, situated in Nall County, Nebraska:
<br />Lot One Hundred Four (104) In West Lawn In The City of Grand
<br />Island, NE.
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached noor coverings, alt window screens,
<br />window shades, bonds, storm windows, awnings, heating, air conditioning, and plumbing and water equipment and accessories thereto, pumps,s[oves,
<br />refrigerators, and other fixtures and equipment now or hereafter attached ro or used in connection with said real estate.
<br />- And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessments levied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated ifl the sum of $ 27 , 000.00 payable w said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies fur said insurance; and not [o commit or permit any waste on or about said premises:
<br />In case of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee shall,
<br />on demand, be entitled tounmediate possession of the mongaged premises and the mortgagor hereby assigns, transfers and sets ovec to the
<br />mortgagee all the renu, revenues and income to be 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 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 of repairing said premises and necessary
<br />commissiorts and expenses incurred in renting and managing the same and of rnUecting rentals therefrom; the balanm 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 exis[ena of such
<br />default, irrespective of an}• temporary waiver of the same, -
<br />These Presents, however, are upon the Condition, That it the said Mortgagor shall repay slid loan on or before the maturi[v 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 etrery month, until said loan is fully paid; pay all taxes and assessments levied against said premises and on this Mortgage
<br />and the Bond secured Thereby, before delinquencyt furnish approved insurance upon the buildings thereon in the sum of S 27 ~QQQ, QO payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insu:;.nce with interest at
<br />rite maximum Legal rate thereon from dale of payment all of which Mortgagor hereby agrees to pay; permit no waste on said premises; keep and comply
<br />with sll the agreements and conditions of the Bond far 5 27 QQQ. Qn this day given by the said Mortgagor to said ASSQCIATION, and comply
<br />wish alt the requvesitenu of the Constitution and By-Laws o~said ASSOCIATION; then these preseais shall become null and void, otherwise they
<br />shall remain in full force and may be foreclosed at the option of the said ASSOCIATION aster failure far three months to make any of said
<br />payments or be three months 'vt 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 for4twith it such foreclosure proceedings.
<br />It there is any change in ownership of the real estate mortgaged herein, -by sale or otherwise, then the ensue remaining indebtedness hereby
<br />secured shalt, at the option of The E.quitabk Building and Loan Association of Grand Island, Nebraska, become immediate3y due and payable without
<br />ftuthor naticr, and the arttount remaining 4ue under said bond, and any other bond for any additional advances tnade thereunder, shall, from the
<br />date of exorcise of said option, bear interest at the maximum legal rate, and this mongage may then be foreclosed to satisfy the amount due on said
<br />bond,and any outer bond for additional advances, together with all scans paid by said The Equitable Building and Loan Assotia[ion of Grand Island,
<br />Nebraska for insurance, taxes and assessments, and abstracting ex[ension charges, with interest thercoa, from date of payment at the maximum
<br />legal rate,
<br />As provided in the $ond secured hereby, whiSe this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, thou assigns or successors in interest, which sums shall be within the security of this mortgage the same as rho funds originally
<br />secured tliarctiy, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />led this - - 6th day of Jane A. D., 19 ]J
<br />_Merct~r
<br />i
<br />i~urine J. Marc r
<br />SIAM oP ~B~~'' ~ as. On this 26th day of June [9 79 , beforc me,
<br />COIIIV'!Y OP-HALL )
<br />the undersigtted, a Notary PubQc in and for said County, personally rame
<br />ilesse E. Mercer a~ld Maurine J. Mercer, each in his and her own right and as spouse of each
<br />other who are personally known 20
<br />me to be tlfe idential person S whose ~~. ~' d to the above instrttinent as mortgagor 5 and they severally
<br />aeknawiedged the said instrument to be ,tatttlttt!ia~aM~ii~lced.
<br />WITNESS my basal and N ~ $esi t~ elate afifresaidr Fr r'
<br />- My Comrnission expires - : ~ //
<br />r j. ~ ~~==L«~
<br />o-r-eta at ~~,y'• ;'ti. 7, } 4~ ~, ; ' Notary Public
<br />yt'+v~ fit IJ~ha ~~~~ `'
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