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<br /> �$- U02987
<br /> OPEid EiJD MORTGAG�
<br /> DAVID E. PHILIPPI AiJD �dAOMI L. PHILIPPI , husband and wite; AND KE��NE'fH F3. KNOX AND MARILYN F�1.
<br /> K(JOX, husband and wife, each in his and her own ri t herein called the
<br /> Mortgagor whether one or more, in consideration of
<br /> I ____________________________________________Dollars loaned to sa�d Mortgagor, does gage
<br /> to HOME FEUERAL SAVI�JGS AtJU LOAy ASSOCIATION, its successors and assigns, the following
<br /> d c bed real astate in HALL County, Nebraska: A TRACT OF LAND COMPRISING A PART OF '
<br /> L�15 €C�UR (4), I SLAidD, TOG CCRETI ON LAND THERETO, S I TUATED I PJ PART OF THE SOUTHWEST
<br /> QUARTER OF THE f�ORTfiWEST QUARTER (SW�Nti^!�), AND PART OF THE fdORTHWEST �UARTER OF THE SOUTHWEST
<br /> QUARTER, (NW�SW,�), ALL IN SECTION TWENTY SEVEN C27), TOV�NSHIP ELEVEN (II ) NORTH, RANGE NIfdE (9),
<br /> WEST OF THE 6TH P.��1., IN HAL� COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING
<br /> AT THE i�ORTHWEST CORiJER OF SAID SOUTHWEST QUARTER (SW.'-,); THENCE EASTERLY ALONG THE NORTH LINE
<br /> OF SAID SOUTHWEST QUARTER (SW,�), A DISTAPJCE OF FORTY ONE AND FIVE TEfJTHS (41 .5) FEET, TO A POINT
<br /> OtJ THE EASTERLY RI GHT OF WAY L INE OF LOCUST STREE'�; THENCE RUtJN�fJG NORTHERLY ALOPJG SAI D RI GHT
<br /> OF WAY LIiJE, A DISTANCE OF ONE HUNDRED FORTY-FIVE AND THIRTY SIX HUNDREDTHS C145.36) FEET TO A
<br /> POIh�T 42.06 F�T EAST OF THE WEST LINE OF SAID SECTION TWEhdTY SEVEN (27), ALSO BEING A POINT ON
<br /> THE CENTERLIN F THE IJORTH CHANNEL OF THE PLATTE RIVER; THEfJCE DEFLECTING RIGkT 83�42' AflQ
<br /> RUNPJING NORTHEASTERLY ALONG SAID CENTERLINE, A DISTANCE OF ONE HUNDRED NINETY AND THREE TENTHS',
<br /> ( 190.3) FEET; THENCE DEFLECTING LEFT 17048'50" and RUNNING PJOTHEASTERLY ALONG SAID CENTERLINE,
<br /> A DISTANCE OF iJ1iJETY FIVE (95.0) FEET; THEfJCE DEFLECTING RIGHT 15�39' AND RUNNING NORTHEASTERLY
<br /> ALOiJG SAID CENTERLINE A DISTA��ICE OF SEVENTY-E 1GH (78d.0> F ET Tp A POINT ON THE WEST LINE OF
<br /> �OTdT�I�RTeYa��t(S34�n�1A�PT�F�rjldl��D�SY�tSd��;herCwi�tti�a�l bui�c�t�ngs� improvements, fixtures
<br /> c�r appurtenances now or hereatter erected thereon, including ali apparatus, equipment,
<br /> fixtures or articles, whether in single units or centrally controlled, used to supply
<br /> heat, gas, air-conditioning, water, lioht, power, refrigeration, ventilation or other
<br /> services, and any other thing now or hereafter therein or thereon, the furnishing of
<br /> which by lessors to lessees for an unturnished building similar to the one now or here- :
<br /> atter on said premises is customary or appropriate, inciuding, but not limited to, screens,
<br /> window shades, storm doors antl windows, carpeting and other floor coverings, screen doors,
<br /> awnings, built-in dishwashers, stoves, refrigerators, and water heaters and all renewals
<br /> or replacements thereof (all of which are intended to be and are hereby dec�ared to be a
<br /> part of said real estate whether physically attached thereto or not. ) The Association
<br /> is hereby subrogated to the rights ot all mortgagees, lienholders and owners paid off by
<br /> the proceeds of the loan hereby secured.
<br /> TO HAVE AND TO HOLU the said property, with said buildings, improvements, fixtures,
<br /> appurtenances, apparatus and equipment, unto said Association, its successors and assigns,
<br /> forever.
<br /> Mortgagor hereby covenants with said Association, its successors and assigns, that
<br /> P�{ortgagor is lawfully seized of said premises, that they are free of encumbrances, and
<br /> that Mortgagor will forever warrant and defend the title to said premises against the
<br /> lawtui claims of all persons whomsoever.
<br /> TH!S MOP,TGAGE IS GIVEJ TQ SECURE: ( I) The paymen1 of a Note executed by P'b rtgagor
<br /> to tne Association bearir.g e��n date hvrewith in ti,a principai sum as set forth above,
<br /> which Note, nrincioel an�i interest, is payable in r•ronthly ins`aliR��nts accordiny to its
<br /> terrt;s, with a final maturity, unless sooner paid, on the Ist day of JuqP ,
<br /> 1998 , The holder nereofi shall have the option to accelerate the maturity of the note
<br /> for which this mortgage is qiven as security, at any time after thc; IOth loan
<br /> year after first giving the undersigned or the then owner of the premises described herein
<br /> a written notice three months in advance of its intent to do so. Any prepayment of
<br /> principal made by virtue of the exercise of this option shall be without prepayment
<br /> premium_ (2) Any additional advances made by the Association to Mortgagor, or Nb rtgagor's
<br /> successors in title, for any purpose, at the option of the Association, at any time before
<br /> thc release and cancellation of this hbrtgaGe, but at no time shall this Nbrtgage secure
<br /> � advances on account of said criginal note and such additionai •advances in a sum in excess
<br /> '; of OiJE HUNDRED FORTY THOUSAND AND NO/100----------------------�°� �ars; provided that nothing
<br /> tierein contained shali be considered as iimiting the amount that shail be secured hereby
<br /> when advanced to protect the security or in accordance with covenants contained in this
<br /> ' hiortgage.
<br /> Provided, nevertheless, these presents are upon the following conditions: that whereas,
<br /> tiia said Mortgagor is a member of said Association, has executed a note in writing to said
<br /> Associafiion to repay sum of money, with interest, in payments as set forth in said
<br /> Nate, and any and all additional advances, with interest, and has agreed to abide by the
<br /> l;onstitution and f3y-Laws of said Association, and rules and regulations adopted by its
<br /> doard ofi Uirectors; and agreed and do hereuy agree:
<br /> i. To pay the indebtedness nereby secured promptly and in full compliance with the
<br /> terms of the atoresaid Promissory Note and any other notes or agreements for additional
<br /> advances as provided herein and of this Mbrtgage a�d further agrees that at the sole option
<br /> " t of Mortgagee the time of payment of the indebtedness hereby secured, or any portion there- '
<br />, I of, may be extended or renewed, and any portion of the premises herein described may,
<br /> without notice, be reieased from the lien hereof without releasing or aftecting the personal �
<br /> Iiabiiity of the Mortgagor hereir for the payment of said indebtedness then remaining
<br /> unpaid, and not change in the ownership of said premises shall release, reduce or otherwise
<br /> affect any such personal liabi �ity or the lien hereby created.
<br /> 2. Undersigned reserves the right to prepay this note in whole or in part on any
<br /> instaliment payment date prior to 5 years from tfie date hereef by the payment o4 ail
<br /> accrued interest to the date of such prepayment together with a prepayment fee equal in
<br /> amount to I80 days interesi� on the amount so prepaid; and ifi prepaid atter such daie there
<br /> �hail tre no prepayment fee. The prapayment fee so char��d sh�il not exceed the maximum
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