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<br /> MORTGAG�
<br /> � This Mortgage is executed the o�� day of
<br /> � �� , 1976, by Chris J. O—p��ger and Lynne
<br /> A. OpplY.ger,—Tius�d and wife, Mortgagor, to Irene A. Karpisek,
<br /> ' ! Mortgagee.
<br /> The Mortgagor, in consideration of the sum of Twenty-
<br /> eight Thousand Dollars, ($28,000.00) , the receipt of which is
<br /> ' hereby acknowledged, does hereby grant, bargain, sell and convey
<br /> ' to the Mortgagee, its successors and assigns, forever, the real
<br /> estate described as follows:
<br /> Lot Eleven (11) , Lee Heights Fourth Addition,
<br /> Grand Island, Hall County, Nebraska,
<br /> together with all appurtenances and fixtures thereto, to have
<br /> and hold as herein provided. This Mortgage is given to secure
<br /> the payment of a Mortgage Note from the Mortgagor to the Mortgagee,
<br /> of even date and constitutes a Security Agreement with respect
<br /> to fixtures attached to said real estate.
<br /> �` The Mortgagor warrants that the Mortgagor is lawfully
<br /> 7 seised of a fee simple title to said real estate and all appurtenances
<br /> and fixtures thereto, free from encumbrance, has qood right
<br /> and power to convey said real estate and will warrant and defend
<br /> the title to said real estate against all lawful claims.
<br /> The Mortqagor agrees to pay the indebtedness hereby
<br /> secured, when due.
<br /> The Mortgagor shall pay all taxes, assessment and
<br /> other charges which may become liens upon said real estate,
<br /> when due, and before delinquency.
<br /> � The Mortgagor shall maintain fire and extended coverage
<br /> �� insurance, covering the improvements on said real estate, with
<br /> � such company and in such amount as shall be satisfactory to
<br /> ` the Mortgagee, with the proceeds of any loss payable to the
<br /> y: Mortgagee as its interest may appear. Such policy of insurance
<br /> * shall be delivered to and held by the Mortgagee, and upon foreclosure
<br /> of this Mortgage or other transfer of the title to said real '
<br /> x estate in satisfaction of the indebtedness hereby secured, all
<br /> �' right, title and interest of the Mortgagor in and to such insurance
<br /> = policy shall pass to the qrantee of said real estate.
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<br /> �. The Mortgagor shall not commit or permit waste and
<br /> shall maintain the improvements on said real estate in good
<br /> condition and repair.
<br /> k' The Mortgagee may inspect said real estate and the
<br /> improvements thereon at all reasonable times, and upon default
<br /> i by the Mortgagor in the maintenance thereof, the Mortgagee may
<br /> � perform such maintenance and add the expense thereof to the
<br /> s principal balance of said Mortgage Note.
<br /> In the event of loss or damage to improvements or
<br /> ` fixtures on said real estate, the Mortgagor may elect to repair
<br /> � or replace such improvements or fixtures. If the Mortgagor
<br /> �' shall elect not to perform such repair or replacement, the principal
<br /> � balance of said Mortgage Note and accrued interest shall become
<br /> due and payable at once, at the election of the Mortgagee.
<br /> Any insurance proceeds payable by reason of such loss or damage „�j .
<br /> shall be placed in �scrow with the Mortgagee and disbursed during
<br /> or upon completion of such repair or replacement or applied �N "'��`
<br /> on the last maturing payments due on said Mortgage Note, in • a .'
<br /> �, accordance with the election of the Mortgagor. y.
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