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gga_, 105534
<br />MORTGAGE See L 21,398
<br />MORTGAGE WAN NO. L 24,650
<br />lhlil0 'N ALL MEN BYTHFSF,, PRESENTS: not Kenneth L. Otto and Donna M. Otto, each in his and her
<br />own right and as spouse of each other, MatEagtsr, whether nine or more, in ootsidetatina of the taa of
<br />�jine fen TjguAand Ttao Hundred and tmo /100 ----------------------------------------- g
<br />Infused to said ranagiallm by The Equitable Building and Livan Assa:iatinn of Grand Island, Nebraska, Mortgape, upon 192 s1 of ttroolt of
<br />aid ASSOCIATION, Certificate No. L 24,650 , do hereby grant, convey and mortgssde unto the said ASSOCIATION the foilowiag
<br />daat'bed red elute, situated in hall County, Nebraska.
<br />Lott'bur (4) and the North Ten (10) Feet of Lot Three (3), in
<br />Geer Subdivision, Part of NEr', Section 9, Township 11 North,
<br />Range 9 West of the 6th P.M., in Grand Island, Hall County,
<br />Nebraska.
<br />together with afl the tenements, hereditament% and app unenances thereunto beiottgmg_ including attached flown coverings. all window araeems,
<br />window dudes, blinds, storm windows, awnings, heating, au condnroninK, amf plumbing and water equipment and accestaxies thereto, pttrespa,stoves,
<br />refrigerators, and either fixtures and equipment now or hereaftei attached to of used in cc.rnnectun 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 />asesed upon said premises and upon this mortgage and the. bend secured ttrerrbv hefore the sane stall become delinquent; to furnish approved
<br />insurance upon the buildings om said premixes situated in the sum of 5 19,200. 00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the pohenes for said insurance; and not to commit on permit any waste an or about said premises;
<br />In case of default in the performance of any of the terms and conditions of this moftgage or the bond secured hereby, the mortgtgee shill,
<br />an demand, be entitled to immediate possession of the roortgaged picmtsrs and the mortgagor hereby assigns. transfers and sets over to the
<br />mortgagee all the rents, revtnucs and income to be derived tram the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />ta"id; and the morlgapec shall have the power to appoint any agent or agents it may desire for the purpose of repairing said preirdsef and tenting
<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 />eoamisiunts and expenses incurred in tenting and managing the same and of cullecttrtg rentals therefrom; the balance remaining, if any. to be
<br />applied toward the discharge of said mottggt indebtedness. these rights of the mortgagee may be exercised at any tame during the existence of Such
<br />default, irrespective of any temporary waives of the same
<br />These Presents, however, are upon the Condition. That if the sand Mortgagor %foals repay Said loan on or before the maturity of sad shuts by
<br />payment; pay monthly in said ASSOCIATION of the arm specified in the Bond secured hereby as interest and pamcapal 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 assessro •nts levied against said premises and on this Mortgage
<br />and the Bond secured thereby, before delinquency, furnish approved insurance upon the buildings thereon in the sum of $ 19, 2UO .00 payable
<br />to aid ASSOCIATION; repay to said ASSOCIATION 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 Mongagoi hereby agrees to pay, permit no waste on said premises; keep amt comply
<br />with all the agreements and conditions of the Blond for S 19, 200. 00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -Laws or said ASSOCIATION; then these presents shalt become null and void, otherwise they
<br />stall remain its fall fora and may be foreclowd 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 nuking said monthly payments, in to keep and comply with the agtements and conditions of said &end;
<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 mcnppged hereon, by sale w otherwise, then the entire remaining indebtedness hereby
<br />SmAued shah, at the option of The Equitable Building and Loan Association of Grand Island. Nebraska, become immediately due and payable without
<br />further notice, and the amount remaining due tinder said bond, and any other bond fat any additional vdvances made thereunder, shall, from the
<br />date of exercise of raid option, bear interest at the maximum legl rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<br />bmad,aad any other bond for additional advances, together with all sums paid by said The Equitable Bolding and Loan Association of Grand Island,
<br />Nebraska for insrnance, taxes and assiesvrtents, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />livil isle.
<br />As provided in the Bond secured hereby, while this nxsrtgage remains on effect the mortgagee may hereafter advance additional sums to the
<br />makers of ad Bond, their assigns or successors in interest, which sums shall be within the security of this rmsrtgage the same as the funds originally
<br />secured thereby, the total amount of prutcipal debt not to exceed at any time the original ankiunt of this mortgage.
<br />this day of A 1) , B9 bb
<br />x �
<br />STATE OPF NEBRASKA. w On this day of 19 bob , before me,
<br />(Y)UNTY Oh BIAIA
<br />Ithe undersigned, a Ni. tary Public m and for said County, personally came
<br />Kennetl "i Otto arid ;i nr>i 1.4 :)too, each !h his and t, r ,_,a , i1t ] �tkv inailyrigo k
<br />—her,
<br />we to be the identical peivm 3 whine name;; ru afflaed to the absve ntxtrunr_rto as nxxtWor an.f"hey severally
<br />r*nVWlt1 rd the ;Wd instiusnew t.i be Lin£:! C ri,Isi nary ace urd deed
<br />WITNf!sS ray r.atsd arnt Noraslal tinsel the cLir alf-Cuid
<br />ric+�z,�¢ r v :'. :t N<.rav tsubivo
<br />It raxY all -"�. -b - y 6r, c_ , .
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