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<br /> MORTQrAGE •°
<br /> This Mortgage is entered into between .la mPC A _ Fllic a f Ir f a J�mes E E111S a n d M1St`,TF.
<br /> Elli s. h u s b a n d a n d wif e (herein"Mortgagor'�and�
<br /> Five Points Bank , a Nebraska Corporation �nerein••Nto
<br /> rtgagee")• �
<br /> Mortgagor is indebted to Mortgagee in the prinaipal sum oi S 3�680_5� , evidenoed by Mortgagor's note \C
<br /> dated A r,n •1 91 � 1 QQft (herein"Note'7 providing for payments oi prinaipal and interest,with the balanoe of the
<br /> indebtedness,if not sooner paid,due and payable on A D C"il 28� 2003
<br /> To seaure the payment of the Note,with interest se provided therein,the payment of all other sums,with inter
<br /> eat, advanoed bq Mortgagee to pmtect the security of this Mortgage, and the pertormance of the covenants and agree-
<br /> ments of the Mortgagor esontaiued herein, Mortgagor does hereby mortgage and convey to Mortgagee the iollowing
<br /> described
<br /> property loaated in H all County,Nebraska.
<br /> Lot Eight (8), Block Seventy-Eight (78), Wheeler and Bennett's 3rd Addition, City
<br /> of Grand Island, Hall County, Nebraska.
<br />�
<br /> Together with all buildings, improvements fi8tures, atreets, alleys, passageways, easementa, rights, privileges
<br /> and appurtenanoes located thereoa or in anywise pertaining thereto, and the renta, issues and proSts, reversions and
<br /> remainders thereof; inoluding, but not limited to, heating and cooling equipment and such personal property that ia
<br /> atta,ohed to the improvemeats so as to conatitute a fixture;a11 of which,includiag replacements and additions thereto,ia
<br /> hereby dealared to be a part ot the real estate seaured by the lien of thia Mortgage and a11 of the ioregoing being referred
<br /> to herein as the"Property".
<br /> Mortgagor further oovenants and agreea,with Mortgagee,as follows:
<br /> 1. Payment.To pay the indebtedness and the intereat thereon as provided in this Mortgage and the Note.
<br /> 2. Title.Mortgagor is the owner of the Property,has the right and suthority to mortgage the Properiy,and war�
<br /> rauts that the lien created herby is a tirst and prior lien on the property,eaoept as may otherwise be set forth herein.
<br /> �1 The Property is subject to a Mortgage wherein P�n ri n�� � o.,+;�i fq���� is
<br /> the Mortgagee,reoorded at Book ,Page of the Mortgage Rscorda of H all
<br /> County,Nebraska,which Mortgage is a lien prior to the lien oreated hereby.
<br /> ❑ Other prior liens or enoumbranoes:
<br /> S Tazee, Assessments. To pay when due all tazes, speoial assessments and all other oharges against the
<br /> Properiy and,upon written demand by Mortgagee,to add to the payments required under the Note secured hereby,suoh
<br /> amount as may be su8icient to enable the Mortga,gee to pay such tazes, assessments or other charges as they beaome
<br /> due.
<br /> 4. Insurance. To keep the improvements now or hereaiter looated on the real estate described herein insured
<br /> againat damage by fire and suoh other hazards as Mortgagee may require,in amouats and with companies acceptable to
<br /> the Mortgagee, and with loss payable to the Mortgagee. In case oP loss under such polioies the Mortgagee is authorized _.,,�
<br /> to adjust,collect and compromise,in its discretion,a11 claims thereunder at its sole option,authorized to either apply the �, i
<br /> proceeds to the restoration of the Property or upon the indebtedneas secured hereby,but payments hereunder sha11 con- �
<br /> tinue until the sums secured hereby are are paid in full. . '
<br /> 5. ❑ Escrow For Tazes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to �
<br /> the oontrary.Mortgagor shall pay to the Mortgagee at the time oi paying the monthl,y installmente of prinoipal and inter
<br /> est,one-twellth of the yearly tagea,asseasments,hazard insurance premiums,and grouad rents(ii an,y)whioh may attain
<br /> a priority over this Mortgage,all as reasonably estimated from time to time by the Mortga,gee.The amounts so paid shall
<br /> be held by the Mortgagee without interest and applied to the payment of the items in respeot to whioh such amounts
<br /> were deposited.The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness seoured
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