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<br /> RrEAL ESTA'TE MORTGAGE AVCO FINANCIAL SERVICES oF
<br /> �s--00Q751 N��,s�► �x�.
<br /> —�5-�?� .«o�„� .
<br /> �, 1 MORTGAGOR S : `^e853�5089 N'T�L � 7212 59EST SECOND � . .. �
<br /> � �war. c anouai•a w..nc .
<br /> PDWELL STEVE ,L ODETTA GRAND ISLAND ,NEBRwSKn
<br /> � WITNESSETH, that Mot[gagor(s),does mortgage,grant, bargain,sel1,and convey,unto Mortgagee,its succeseors or assigns the foliowing described Real Estate � �
<br /> fn the county of A�I' ,Swte of Nebraska,to wit: � �
<br /> FRACTIOIQAL LOT THREE (3) A2iD THE EASTERLY SIX (6) FEET OF
<br /> FRACTIONAL LpT FOIIR (4) IN FRACTZONAL B7ACK OIJE (t) ARNOLD AND ABBOTT'S
<br /> ADDITION TO TE� CITY OF GRAND ISZ,AND, NEBRASICA AND COMPLEMENT, FRACTIONAL
<br /> LOT THREE (3) �ATD E/tSTERI.Y SIX C6) FEET OF FRAC3'IONAL LOT Ft�UR (4} IN
<br /> FRACTIONAL BIACK T9YENTY (20) ZN ROLLIIiS ADDITION TO THE CITY OF GRAND
<br /> ISLAND� HALL COIINTY� NEBRASKA,
<br /> �� together with al�j bulldings and improvements now or heroaher erected thereon and alt screens, awnings,shades,storm sash and blinds,and heating,llghting, �
<br /> ' plutnbing,gas,.'e(ectrig ventilatin� refiigenting and air-conditioning equipment used in connection therewith,alI o[which,for the puipose oC this mortgage, �
<br /> shall be deemed fixtures$nd��b�ec�.to ttie tien hemof, and the hereditaments and appurtenances pertaining to the property above described,and all stmets, �
<br /> IaMs,alleys possa�ys, pyp,�q�.aterS water coutses,rights,tiberties and privileges,whatsocver thereunto belonging or in anywise appertaining and the zevenions
<br /> , and Iemainders;all of�cTr'i4'r�fl�rreG`to�}iereinatter az the"premises". . � .
<br /> TO HAVE AND 7'O HOLD the abovedescribed premises,with the appurtenances and fixtures,unto the said Mortgagee,its successors and azsig�s,forevec,for
<br /> � the purposes and uses hezein set forth, free Gom all rights and benefits under and by virtue ot any Homestead Exemption Laws of the State of Nebraska
<br /> which may be enacted,which said rights and benefi[s the said Mmtgagor dces hereby espressly release and waive. - � .
<br /> !. Mortgagor aLw assigns to Mortgagee a11 rents, issues and profits of said premises, rexrving the right to collect and uu the same,with or without taking �
<br /> posxsaion of the premises,during continuanee of default hereunder,and during continuance of sueh default authorizing Morigagee to enter upon said premises
<br /> . i and/or�to.collect and entorce lhe same without regazd to adequacy of any security for the indebtedness heieby xcured by any lawful mesns includitrg �
<br /> � f appointment of a nceiver in the name of any party hereto,and to apply the same tess costs and expenses oF operation and collection,including reasopabte � � � ��
<br /> attomey's fees,upon any indebtedness secured hereby,in such order as Mortgagee may determine. . � �
<br /> �� FOR TttE PURPOSE OF SECURING: (I) Performance of each agreement of Mortgagor contained hemin; (2)Payment of the principal sum with intercst, � � �. �
<br /> ' u pmvided in aecordance with the terms and provisions of a Promissory Note/Loan Agreement (hereinaftet refersed [o as "ptomissory note'7 � . � �
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<br /> da«-- 12�C1q-77 , herewiih executed by Mortgagor and payable to[he order ot Mortgsgee, � � .
<br /> In the piincipel sum of S �qOo a1� , and having the date of its 8na1 payment due on t 7_t i�_77 . � � �
<br /> w at extendW, defetred or mscheduled by renewal or refinance; (3) Payment oC any additional advances,with interest thereon, as may hereaker be �
<br /> �.:.� loaned by Mortgagee to Mortgagor in a maximum sum of_33.000.00 within l0 years from the date of this Mortgage;(4)The paymrnt of any � �
<br /> money ffiat may be advanced by the Mortgagee to Mortgagor for any reason or to Ih'vd parties,with inrorcst Iheroon,where the amounts are advanced to � � � �
<br /> pcotect the security or in accordance with the covenants of this Mortgage;(S)Any renewal, re£nancing or extension of said promissory note,or any other � � �
<br /> . agreement to pay which may be substituted therefor. � � .
<br /> All paymen[s made by Mortgagor on the obligation secured by this Mortgage shalt be applied in the fotlowing orJer: • . � � �
<br /> F[RST: To the payment of taxes and assessments that may be levied and assesxed against said premises,insurance premiums,repairs,and�Il othet � �
<br /> chazges and expenaea agreed to be paid by the Mortgagor. � � �
<br /> :t SECOND:To [he payment of interest due on said toan. � � ..
<br /> THIRD: To the payment of principal. . � �
<br /> TO PROTECl' THE SECUAITY HEREOF, MORTGAGOR(S) COVENANTS AND AGREES: (1) to keep said premises insured against loss by Fuo and �
<br /> other hazerds, casualty and contingencies up to the full value of all improvements for the protection of Atortgagee in such manner,in such amounts;and � �
<br /> in such companies az Mortgagee may Gom time to time approve, and that loss proceeds (less expense of collection) shall, at Mortgagce's option, be
<br /> applied on sa�d indebtedness, whether due or not or to thc restoration oC said improvements_ In event of loss Mortgagor will give immediate notice by
<br /> mait to the Mortgagee,who may make proof of loss if not made promptiy by Mortgagor,and each insurance company coneemed is hereby authotized and ��
<br /> directed to make payment Cor such lou direcUy to the Morigrgee instead of to the Mortgagor.Q)To pay xll ta�ces and special azsessments of any kind
<br /> that have been or may be levied or assessed upon said premises,and to detiver ro M1fortgagee, upon requat of the Mortgagee,the official receipt showing � �
<br /> payment of at! such taxes and assessments. (3) In thr event of default by Mortgagor under Paragraphs 1 or Z rbuve, hlortgugee, at its uption,may(a) � �
<br /> place and keep such insucance above provided for in (orce throughout the life of this Mortgage and pay the reasonable premiums and charges therefor;(b)
<br /> pay all said taxes and assessments wi[hout determining the validity [hereof; and (c) Pay such liens and alt such disbursements shall be deemed a part of �
<br /> ` the indebtedness secured by this Mortgagc and sh•all be immediately due and payable by hfortgagor to Mortgagee. (4) To keep the buildings and other
<br /> ;� improvements now existing or hereatter emeted in good condi[ion and repair,not to commit or su[fer •rny wyte or xny use of said premites con[rary to
<br /> restnctions of reeord or convary to law, and to permit Mortgagee to enter at all reasonable times for the purpose of inspecting the premises: not m � �
<br /> remove or demolish�any building thereon:to restore promptly and in a good and workmaniike manner any buildings which may be damaged or destroycd
<br /> theroon, and to pay, when due, all ctaims for Iabor performcd und materials FurnisheJ therefor;(5)That hc will pay,promptly the indebtedness secured
<br /> hemby, and perform all othez obtigations in ful! compliance with the teans of seid Promiswry Note and this Mortgage;(6)That the time of payment oC � �
<br /> the indebtedness hercby securcd,or oC any�ortion thereof,may be estended or renewed,and any portions of the premises herein described may,without �
<br /> notioe, be released Gom ffie fien hereof, w�[hout roleasing or aFfecting the personat lixbility oi any person or thc priurity of this Mortgage;(7)That he
<br /> does.hereby foeevu warrant and will forcver defend [he tiUe rnd possession thereof against thc lawful claims of any and all persons whatsocver. �
<br /> iT IS MUTUALLY AGREED THAT: (1) If the said Mortgagor shall fail or neglect to pay installments on said Promissory Note •rs the same may fieiexfter �
<br /> . �.become�due, or upon default in performance of any agreement hereunJeq or upon sale or other disposition of the ptemixs by Dlortgagor,or should any � �
<br /> �, action ot proceediry5 be filW in any court to enforce any Gen on,claim against or interest in the premises, then all sums owing by the Mortgagor to [he
<br /> �Mortgagce under.this Mortgage or andcr the Promissory Note securcd hercby shall immediately becomc due and payablc at the option of the Mortp,agec,
<br /> .�t.. �on�.the application of.the Mortgagee, or assignee, or any other person who may be entitled to the monies due thereon. In such event the Mortgagee sheu
<br /> � � have�the right�immediately to toredose this mortgage by complaint for that purpose, and such complaint mny be pzosecuted to judgment and exeeution � �
<br /> �and sale.Cor the coliection of the whole amount of ffie indebtedness and intemst thereon, including reasonable attomey's fees,any amounts advanced � �
<br /> ,� . �putsuant to-.this mortgage,�costs of suit,and eos[s of sale, if pertnitted by law. � �
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<br /> . �(2) [n the event said prcmius ace sold at a foreclosure sale,Mortgagor(s)shull be liable for any deficiency remaining after sale of the premises if permitted by "'
<br /> 4 law,and appliwtion of the�proceeds oC said�sale to the indebtedness secured and to thc expenxs of foreclosure,including Mortgagec's reawnable ssttorney's � `�� '
<br /> fees and legal expensea if ailowed by law.
<br /> .k (3)'Mortgagee shaII�be.wbrogatsd to the lien of any and all prior encumbrances,Ilens or c es aid and disch � �V�-�
<br /> heroby'secu[ed, and�even thou h aaid �B P arged from the procceds of the loan •
<br /> j � 6 prior liens have�bern relea�ed of record, the repayment of said indebtedness shall be xcured by such liens on the '
<br /> y ,poltions oE�_apid.pxmises.affecud�thenby�to the extent of euch payments,respectively. , ,,>p _
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<br /> j �(4)Whenever, by the�terms oP this Instrument or of said Promissory Note,.Mortgagee is given any opNon,such option may be exercisW when ffie right
<br /> ' aecruea br et aay time thereafter, and no aceeptance by Mortgagce of paymrnt of indebtedness in default shall constitutc a waiver of any dcfautt thcn * �~ "�
<br /> ;:. .. existing and continuing or.thereafter acciuing. . . � �..��.�.. .�t,. .:,
<br /> -..(5) By accepting payment ot any som accrued hereby after its due date,moztgagee does not waive iU right either to rcquirc prompt payment when due �
<br /> � of al! other wms eo sectiied or to declam defaWt tor failum so to pay. 1f Mortgagor shall pay said Promissory Note at the time nnd in thc rnanner uforexuid
<br /> . . and shell abide by,compty w9th.and�doly perform alI the mvenents and agrecmenit hcrcin,then this conveyxnm sliali Ue uuli and vuid.
<br /> saos�s(wev.�o•���
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