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'b SHORT FORM
<br />Loan Number_ 46200 ___ _ 1 - 16
<br />PROPERTY IMPROVEMENT "'°'sneeS°'°°i'ro'
<br />F6RM No. 251 tRev. 521891
<br />~.~t~i~ ~~T~~~ ~~~~'~ ~ ~~
<br />81-~U 0 0 6 0 ~ KNOW ALL MEN BY THESE PRrsENTs
<br />,I, Milan G. Ray and Dorothy Marie Ray, husband and wifea jointly ,and,each__in„their awn
<br />rgt,
<br />hereinafter called Martgagars, in consideration of the sum of.TF.iQ..~kIOUSAI3R..Al.IA...NQ~.1RQ-----rr----._
<br />(g 10 , 000.00 )DOLLARS, the receipt of which is hereby acknowledged, do hereby MmRTGAGL
<br />and CONVEY an absolute title, including a'll the rights of homestead and inheritance, unto FIRST
<br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, NEBRASKA, hereinafter called
<br />Mortgagee, its successors and assigns, the following described real estate, situated in........lla7.) ....................
<br />County, State of NEBRASKA, to-wit:
<br />Lot eighteen !1L~), 31ock One (1), southern
<br />Acres .addition to the City o£ Grand Island,
<br />Hall County, Nebraska.
<br />TO iIAVE AND TO HOLD the real estate above described, with aII appurtenances thereunto
<br />belonging unto the said Mortgagee, forever, provided aiways, and this mortgage is upon the express con-
<br />dition that if the aforesaid Mortgagors, their heirs, executors, administrators or assigns shall pay or cause
<br />to be paid to the said Mortgagee, its successors or assigns, the principal sum hereinabove set forth, all
<br />according to the tenor and effect of a certain installment note of said Mortgagors bearing even date with
<br />this mortgage, and shall pay tales and assessments levied upon said real estate, and all other taxes, levies
<br />and assessments levied upon this mortgage or the note which this mortgage is given to secure, before the
<br />same or any installment thereof becomes delinquent, then this mortgage to be void, otherwise to remain
<br />in f•~ll force.
<br />IT IS FURTHER AGREED (1) That if the said Mortgagor shall fail to pay such taxes, the
<br />Mortgagee may pay the same and the sum so advanced with interest shall be gaid by said Mortgagors,
<br />and this mortgage shall stand as security for the same. (2} That Mortgagors covenant with the Mortgagee
<br />thst they are lawfully seized of said real estate and covenant to warrant and defend the said real estate
<br />against the lawful claims of all pe*sons whomsoever. (3) That in case of a foreclosure of this mortgage,
<br />the plaintiff in such proceedings shall be entitled to take possession of the premises, protect the same and
<br />collect the rents, issues and profits thereof. (4) That a .ailure to pay any of said money or any instal-
<br />ment thereof when the same becomes due, or a failure to comply with any of the foregoing agreements,
<br />slssll cause the whole sum of money herein secured to become due and collectible at once at the option of
<br />the Mortgagee.
<br />TRANSFER OF THE PROPERTY; ASSUMPTION. If all or any part of the Praperty or an
<br />interest therein is said or transferred by Mortgagor without Mortgagee's prior written consent, excluding
<br />(a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase
<br />money sscux?ty int~reat for household appliances, (c} a transfer by devise, descent or by operation of law
<br />upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not con-
<br />taining ar option to purchase, Mortgagce may, at Mortgagee's option, declare all the lama secured by this
<br />Mortgage to be immediately due and payable.
<br />If Mortgagee exercisce such option to accelerate, Mortgagee shall mail Mortgagor notice of
<br />acceleration and such notice shall provide a period of not leas than 30 days from the date the notice is
<br />mailed witltin which Mortgagor may pay the lams declared due. If Mortgagor fails to pay such sums prior
<br />to the expiration of such perod, Mortgagee may, without further notice or demand on Mortgagor, invoke
<br />the power of sale and any other remedies permitted by applicable law.
<br />Signed this.......-~.-day of.-..._.'~,~'~' ..-.. 19. ~.`.l-.
<br />-- ---° , ,
<br />*fil.~n G. y
<br />Dorothy Mare Ray
<br />STATE OF NEBRASKA ~--
<br />- .-.--.Hall.__ .............County. ~ sa
<br />On r~ _.._._..~~........... day of "'4:.;.=~t.r:~J...._......., :8~:/. before me. the unde.~+iuKi. a Notary Pnblic. in and for
<br />said County, personally rams 'tilsn G. Rai-and Dorothy Marie Ray, husband and wife,
<br />peraatsally known to me ip be the identical persona whose names are affixed to the above and farbgoing instrument, ee
<br />mortgegore, and each acknowledged said instrument to be hiv or her voluntary act and deed.
<br />Witaeas my hand and notarial seal at........_.....G.zand_..1,S.1.aL,d?.-.,{y~kru_,gka.......----.......-_-..
<br />the date lrn§C above mitten. -
<br />C9NNI€ 8 HA ~ Notary Pub7ie
<br />tty commiaaian azpiros. ~-.
<br />k4r P•ameri: !•`iai°. 9ct ri. rSgt}.~
<br />~..-~.~.:~__.._...____.e~ -_..__.1
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