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MORTGAGE 86-108416 MORTGAGE WAN NO. HT —P,14 FHA KW)W ALL MEN BY THESE PRESENTS: 71a1 gay A- Grams and Wrnel l A. Graves, each in his and her awn, right and as spouse of each other, Mortgagor. whether one or more, in consideration of the suns of Five Thousand Seven Hundred and no/100-- ---- -- ----- - -_- -- lemted band tsuor4W by The Equitable BWding and Latin Association of Grand Island, Nebraska, Matgtgee, upon 57 tiara of stodt of said ASSOCIA170N, Certificate No. L HI -834 FHA , do hereby grant, coney and mortgage unto the said ASSOCIATION the folowin` described real estate, situated in Halt County. Nebraska: Lot Two (2) in Knickrehm's 8th Addition to the City of Grand Island, Hall County, Nebraska. together with all the tenements, he"taments and appurtenances thereunto belonging, including attached floor coverings, an window s re ns, window shades, blinds, storm windows, awnings, heating, air conditioning, and plumbing and water equipment and acoessories thereto, pumps, stoves. refrigerators, and other fixtures and equipment now or hereafter attached to or used in connection with said real estate_ And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay all taxes and assessments levied or assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to furnish approved insurance upon the btildings on said premises situated in the sum of $ 5,700.00 payable to said ASSOCIATION and to deliver to slid ASSOCIATION the policies for said insurance; and not to commit or permit any waste on or about said premises; In case of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee snap, on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the mortgagee all the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness slap remain 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 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 commissions and expenses incurred in renting and naraging the same and of collecting rentals therefrom; the balance rem, if any, to be applied toward the discharge of said mortgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence of such default, irrespective of any temporary waiver of the same_ These Presents, however, are upon the Condition, That if the said Mortgagor shall repay said loan on or before the maturity of said shares by Payment; pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal on said ban, on or before the Twentieth day of each and every month, until said ban is fully paid; day all taxes and assessments levied against said premises and on this Mortgage and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the sum of s 5, 700.00 payable to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insurance with interest at the maximum legal rate thereon from date of payment an of which Mortgagor hereby agrees to pay; permit no wasteon said premises ;keep and comply with an the agreements and conditions of the Bond for $ 51700. 00 this day given by the said Mortgagor to said ASSOCIATION, and comply with all the requirements of the Constitution and By -l-aws of said ASSOCIATION; then these presents shall become nun and void, otherwise they A" 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 payments or be three months in arrears in matting said monthly payments, or to keep and comply with the agreements and conditions of said Bond and Mortgagor agrees to have a receiver appointed forthwith in such forechuure proceedings. ' If there is any change in ownership of the real estate mortgaged herein, by sale or otherwise, then the entire remaining indebtedness hereby secured shall, at the option of The Equitable Building and Loan Association of Grand Island, Nebraska, become immediately due and payable without further notice, and the amount remaining due under said bond, and any other bond for any additional advances rode thereunder, drag, from the date of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said bond,and coy other bond for additional advances, together with all stuns paid by said The Equitable Building and Loan Association of Grand Island, Nebraska for insrranor:, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum legal rate. As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the makers of said Bad, their assigns or successors in interest, which sums shall be within the security of this mortgage the same as the funds originally secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage. t �aay of June A. D., 19 86 STATE OF NEBRASKA, COUNTY OF HALL s q!! this 20th day o f June 19 86 , before me, L the undersigned, a Notary public in and for said County, personally came each BebbyA.Graves and Darnell A. Graves, each in his and her owns ric i and as =M ltn�orrn so no to be the identical person s whose name s are affsxcd to the above instrument as modgasor s and they severally adcnowidged the aid instrument to be their voluntary act and died. WITNESS my hand and Notarial Sal the date aforesaid. { My Cunrinissi:jm expires W74M of �� Noyny�hrbjat� N]