|
86- 107265
<br />MORTGAGE
<br />MORTGAGE LOAN NO. HI -844 —FHA
<br />MOW ALL MEN BY THESE PRESENTS: That Harry j. Drake and Barbara A. Drake, each in his and her
<br />own right and as spouse of each other, Mortgagor, whetter one or snore, in consideration of the win of
<br />_Eight Thousand Five Hundred and no/ 100----------------------------------------=-- pOt.t.
<br />loaned to aid mortgagor by The Equitable Buddurrd and Loan Association of Gland Island, Nebraska, Mortgagee, upon 85 shares of stock of
<br />said ASSOCIATION, Certificate No. L HI -844 FHA , do hereby grant, convey and mortgage unto the said ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lot Fourteen (14), Block One (1), Capital Heights Subdivision,
<br />being a part of the Southeast Quarter of the Southwest Quarter (SE. -,SW4)
<br />Section Two (2), Township Eleven (11) ',forth, Range Ten (10) West
<br />of the 6th F.M., Hall County, Nebraska.
<br />of
<br />together with all the tenements, bereditaments and appurtenances thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awning, heating, air 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 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 in the sum of S 8, 500.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies for said insurance: and not to commit or permit any waste on or about said premises;
<br />In cane 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 to immediate possession of the mortgaged premises and the mortgagor 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 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 Satre and collecting the rents, revenues and income, and it may pay out of said income all expenses of repairing said premises and necessary
<br />commissions 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 during the existence of such
<br />uefault, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition. That if the said Mortgagor shall repay said loan on or before the maturity of said shoes by
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the Mond seared 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 all taxes and assessments 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 S 8, 500.00 payable
<br />to said ASSOCIATION: repay to said ASSOCIATION upon demand all 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 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 8, 500.00 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 />shalt rem kin in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to snake 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 proceeding.
<br />If there is any change in ownership of the real estate mortgaged herein, by sale or otherwise, then the entire remaining indebtedness hereby
<br />secured shall, 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 trade thereunder, shall, from the
<br />date of exercise of said option, bear interest at the maximum legal rate, and this mortgage tiny then be foreclosed to satisfy the amount due on said
<br />bo d,ad 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 assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />kid 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 />makers kers of said Bond, their assigns 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 />November
<br />STATE OF NEBRASKA,
<br />COUNTY OF HALL ss.
<br />A. D., 19 80
<br />10th dayof November 19 86 ,beforere,
<br />the undersigned. a Notary Public in and for said County. personally came
<br />Harry J. Drake and Barbara A. Drake, each in his and her own rightwg0d as spouse each
<br />other, are person y known to
<br />no to be the identical person s whose tame s are affixed to the above instrument as mortgagor s and they severally
<br />acknowledged the said instrument to be their vt,luntary act and deed.
<br />WITNESS my [rand and Notarial Seal the date aforesaid.
<br />My Commission expires
<br />{ f f l
<br />Notary Public
<br />
|