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<br /> -]$�.. O O O~I I S MOftTGAGE
<br /> Z'his Mortgage is entered into between `�� J. FAGAN� JR. and �TSRGIIJIA R. F21GP�N, Husbatld
<br /> � c"t21d.W1fe ` (herein"Mortgagor")and
<br /> TFIE OVERLAND LS�1TI01�,L BANI: OF GRFIND ISLAND, C�and Island. Nebraska �hernin"Mortgagee").
<br /> Moitgagor is inde6ted to Mortgagee in the principal sum o[$ 230,000.00 evidenced by Mortgagor's note
<br /> dated F�=�'�y��� �g�g(hernin"Note")providing for payments o[principal and interest,gith the batance of the
<br /> indebtedncss,it not soonec pa�d,due and payable on �v�r l, 1983
<br /> Tosecure the payment of the Note,with interest as provided therein,the puyment of all other sums,with interest,
<br /> advanced liy Mortgagee to pmtect the secudty of this Mortgage,and the performance of the covenents and agreements of
<br /> the biottgagor contained herein, Mortgagor dces heteby mortgage and convey to Mortgagee the [ollowing descri6ed
<br /> P�PertY located in FIall County, Nebraska:
<br /> The Sauth One Half of the Northwest One Quarter (S�Nv�) of Secta.on Thirty One
<br /> (31), Zb�wnship 2Welve (12), Range Ten (10), Hall County, Nebraska.
<br /> ar�d
<br /> Zhe North One Hal£ of the Northeast One Quarter (N�-,�) of Section �aenty Four
<br /> (24). Township 2Welve (12). RaixJe Eleven (11). Hall Cwnty. Nebraska.
<br /> Togett�er with all buitdings,improvements,P�xtuzes,stree4s,alleys,pessageways, easements,righ4s,privileges end
<br /> appurtenances located thereon or in anywise pertaining thereto,and the rents,issues and profiks,reversions and remaindecs
<br /> +theteo[;induding,but not limited to,headng and cooling equipment and such personsl property that is attached to the
<br /> improvements so as to constitute a fixturn;all of wh3ch,including replacemenis and additions thereto,is hernby declared
<br /> to'be s part of the mal estate secured by the lien of this Mortgage and al[of the foregoing being re[erred to hetein as the
<br /> "ProPect3'"-
<br /> Mortgagor further convenants and agrees,with Mortgagee,as totlows:
<br /> 1. Payment. To pay the indebtedness and the internst thereon as provided in this Mortgage and the Note.
<br /> 2. Title: Mortgagor is the owner of the Property,has the right and authority to mortgage the Roperty,and
<br /> warrents that Lhe lien created hereby is a fixst and prior lien on the Pcoperty,except as may otherwise be set[orth hernin.
<br /> ❑The Property is subject to a Mortgage wherein
<br /> is�e Mortgagee,rewrded at Book ,Page of the Mortgage Records of County,
<br /> Nebtaska,which Mortgage is a llen prtor to the lien crnated hereby.
<br /> ❑ OEl�er prlor liens or encumbrences:
<br /> 8. Taxes,Asse�rtients. To pay when due all taxes,special assessments and all other charges against the Property
<br /> and,upon written demand by Mortgagee,to add to the payments requirnd under the Note sewred hereby,such amount as
<br /> may be suf6cient to enable t6e Mortgagee to pay such taxes,assessments or other charges as they become due.
<br /> ` 4. Insurauce. To keep the improvements now or hereafter located on the real estate described herein insured
<br /> agatnst damage by flre.and such other 6azerds as Mortgagee msy requlrn,in amounts snd with companies acceptable to the
<br /> Mortgegee,'and with toss payable to the Mortgagee. In case of loss under such policies the Mortgagee is aut6orized to
<br /> adjust, collect and compromise,in its discretton,all claims thereunder at its sole option, authodzed toeitherapply the
<br /> proceeds to the restoratlon o[the Property or upon the indebtedness secured hernby,but paymenfs hernander shap con-
<br /> tinue until the sums secured hereby are paid in Pu1L
<br /> 5. CJ Eccraw For Taaea and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br /> eontruy,Moctgagor aha1L paq to the Mortgsgee at the time oi paying the monthly instaliments of principal and intetest,
<br /> ' one-twelfth of the yeuly.taxes,essessments,hazard insurance premlums,and ground rents (if any)which may attain a
<br /> priodty'vver tliis'Mortgage,ali as reasonably estimaEed from time to time by the Mortgagee.The amounts so paid shail be .�.:�l, - ,
<br /> held;by�the Mortgagee:svitLont inte:est and applied to the payment of the items in respect to which such amounts were A:=`
<br /> , _ .. , ,� N .'y-.
<br /> deposlted.The;sums paid-'to Mortgagee he=eunder are pledged as additionat security for the indebtedness secured by this . y. .
<br /> MorEgdge Mort(�agor,shall"pay W'Mottgagee the amount of any-deAciency between the actual taxes,assessments,insurance oC, �
<br /> I. ,,;, � , •.piemiUms 7uid g[ound zents and'the.deposifa hereunder within'10 days'after demand is made upon Mortgagor requesting � "
<br /> � ��payrt►ent'-thereof,��', - _ � `pa��
<br /> _ � . �,. _ _„ .� , - , �.._.. � � , �
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<br /> 6. Repaic,Maintenance and Uae. To promptly repair,testore or rebuild any buildings or Improvements now or •
<br /> ' ' ' � trereatter on:the;Propezty;tu keep the Rnperty'in good condition and rnpait,wlthout waste,and free from mechanlc's or
<br /> ' otherUens aot exptesaly,pubordinated to the lien hereof;not to make;suffer oc permit any nuisance to euist,nor to dimin-
<br /> ish or.impalr the:value of the Yroperty by-any act or omission to act;and to comply with all requimments ot law with
<br /> respecE to the Roperfy: _ `,
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