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1+05831
<br />MORTGAGE
<br />MORTGAGE LOAN NO. L 24,670
<br />Schlueter, a single person; and Gloria J. Starr,
<br />a single person, Mortgagor, whether one or more• in moderation of the sets of
<br />Twenty Thousand and no/100 — — — ------------- — ---- — ----------- ----_1)OIl ARS
<br />Ioslned to said mor4nor by The Equil" Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 200 , , oaf staodt of
<br />mid ASSOCIATION, Certificate No. 1.14, G70 , do hereby grant, convey and modes unto the said ASSOCIATION the fo/rwitg
<br />ekaa'ad real estate, situated in hall County, Nebraska:
<br />Part of Fractional Lots Eight (8) and Nine (9) in Fractional Block Two (2) in Wallich's
<br />Addition to the City of Grand Island, Nebraska, more particularly described as follows:
<br />Commencing at the Southwest (SW) corner of said Fractional Lot Eight (8), running
<br />thence in an Easterly direction along and upon the northerly boundary line of Ninth Street
<br />in the City of Grand Island, Nebraska, for a distance of 77 feet, running thence in a Norther-
<br />ly direction, parallel with the easterly boundary line of said Fractional Block Two
<br />(2) for a distance of 86.55 feet, running thence in a Westerly direction, parallel
<br />with the Northerly line of said Ninth Street, for a distance of 31.7 feet, to the
<br />Easterly Boundary line of Broadwell, in the City of Grand Island, Nebraska (as now
<br />located) running thence in a Southerly direction along and upon the Easterly
<br />boundary line of Broadwell Avenue (as now located) for a distance of 98.5 feet to the
<br />place of beginning.
<br />together with all the tenements, hereditaments and appurtenances thereuntu belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, heating, au 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 connacction 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 Ruttish approved
<br />insurance upon the buildings on said premises situated in the sum of s 20, 000.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance. and not to comma 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 reared hereby, the mortgagee shall.
<br />on demand, be entitled to immediate possession of the mortgaged prentim and the mrrtgagm hereby assigns, transfers and sets over to the
<br />mortgagee all the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage itdebtednes shall remain
<br />unpaid; and the mortgagee shall have the power to appoint any agent or agents it may desire .of the purpose of repairing said pre mises and renting
<br />the sane and collecting the rents, revenues and income, and it may pay out of said income all expenses of repairing said premises and necessary
<br />con ors and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance 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 mitring the existence of such
<br />default, irrespective of any temporary waiver of the same.
<br />Thew preaema, however, are upon the Condition. That if the said Mortgagor shall repay said ban on or before the maturity of said shares by
<br />payment; pay monthly to sad 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 Al taxes and assessments levied against said premises and on this Mortgage
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buil sings thereon in the sum of s 20, 000.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it pad 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 agreements and conditions of the Bond for s 20, 000, 00 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 ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shall 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
<br />payments or be three months in 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 forthwith in such foreclosure proceedings.
<br />If there is any change in ownership of the real estate mortgaged herein, by sak or otherwise, then the entire remaduing indebtedness hereby
<br />secured shat, 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 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 the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<br />bond, and 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 insurance, taxes and .moments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />Legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />maters of said Bond, their assign s or successors in interest, which sums shall be within the security of this mortgage the same as the funds originally,
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />STATE OP NEBRASKA,
<br />COUNTY OF IIALL ss.
<br />day of
<br />A.D., 19 86
<br />October 19 b6 , before me,
<br />the undersigned, a Notary Public on and for said County, personally came
<br />Gloria J. Starr, a single �Vson
<br />are personally known to
<br />affixed to the above mstrufr;j as mortgagor
<br />acknwkd/sd the sad mstrumem to be Lneir voluntary act and deed.
<br />WITNIM my hard sod NoLvisi Sea the date aforesaid.
<br />7'
<br />and �y severalty
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