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<br />M(DMAGE 89----.1.00393
<br />This Mortgage is entered into between C. Robert Lunn and Nancy L. Lunn, husband and
<br />1 wife each in his and her own right and as spouse of the other( herein "Mortgagor") and
<br />Five Points Bank, Grand Island, NE -(herein "Mortgagee"),
<br />Mortgagor is Indebted to Mortgagee in the principal sum of $ 9, 668.22 , evidenced by Mortgagor's note
<br />dated 1 -16-89 (herein "Note") providing for payments of principal and interest, with the balance of the
<br />Indebtedness, if not sooner pain, darn and, payable on 1-18-94 .
<br />To secure the payment Gf the Note, with interest as provided therein, the payment of all other sums, with Interest,
<br />advanced by Mortgagee to protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and coney to Mottgagee the following described
<br />property located in Hall County, Nebraska:
<br />Southerly Eighty Two (82) Feet of Fractional Lot Ten (10),
<br />in Fractional Block Four (4) in Woodbine Addition to the
<br />City-:of Grand Island, Hall County. Nebraska
<br />Ti,m ar ,with all- lwiidinrs; improvements; .iixtukes. streets, alleys. passageways, : easements; rights, privileges and -- _
<br />appurtenances located thereon or in anywise pertaining whereto, and.the rents, issues and profit, reversions and - remainder.
<br />thereof; including, but not limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements soars to constitute a fixture; all of which, including replacements and additions thereto, is hereby declared
<br />to be a part of the.real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />Mortgarr further conennants and agrees, with Mortgagee, as follows:
<br />1. paymekiL To pay-the indebtedness and the interest thereon as provided in this Mortgage and the Note.
<br />2. We. Mortpgoir,is the owner of the Property, has the right and authority to mortgage the Property, and,.
<br />wai*ints that the Hen cre ated Jhereby is a first and prior lieu on the Property, except as may otherwise be set forth herein.
<br />O The ;Property is subject to a Mortgage wherbin
<br />is the Mortgage,.icorded at Book ,Page of t15e l4lortgage Records of County.
<br />Nebraska, which 16itgage is a Hen prior to the lien created hereby.
<br />O fitter prior liens or encumbrances:
<br />3,,'ir`ai Aueasmenis: To pay when due ate taxes, specW.- assessments and all other charges against the property
<br />and, _ upon 1rdmw demand by Mortgagee, to add to the payments rev tuned under the Note secured hereby, such amount, as
<br />MAY be. suffla' ats to enible the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. Instance. To keep the improvements now or hereafter located: oft the real estate described herein insured
<br />against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, all claims thereishder at its We option, authorized to either apply-the
<br />proceeds to the restoration of the Property or upon the indeIress secured hereby, but payments hereunder shalt
<br />tinge until the sums secured hereby are paid in full.
<br />5 O Escrow For Taus and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortpgor shall pay to the Mortgagee at the time of pag,ng the monthly installments of principal and interesP ;
<br />one - twelfth of the yearly taxes, assessments, hazard insurance pramlums, and ground rents (if any) which may attain a
<br />priority over this Most", all as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortppe without interest and applied to the payment of the Items in respect to which such amounts were
<br />deposited The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />6. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />otherliens not expressly subordinated to the glen hereof; not to make. suffer or permit any nuisance to exist. nor to dimin-
<br />ish or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with
<br />respect to the Property.
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