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<br />11[ORMAGE 89-"� i 0 O i 5 3
<br />This blortpge is entered into between Gresdh Mrsagement C'orporat? n
<br />(herein "Mortgagor") and
<br />F''IY8 P0IKl'9 BANK (herein "- Moet/teell),
<br />MottgaW is indebted to litortpdce ID the principal suet of $ 50, 000.00 • , evidenced by Mortgagor's note
<br />dated 2 -1 -89 (bowls "Not* ") providing for payments of
<br />pdpcipsd and Interest, with the balance of the
<br />"btsd ore, if not sooner patd,•due and payable en 2 -1 -93
<br />To aacare the PW=Ikt of the Note, with interest as provided therein, the pa pant of all other same, with interest,
<br />advanced by Moatppe to protect the security of thb Mortow, =A the perlMOrtaaaeoc of the covenaata and apeetneals at
<br />Ilse MoRtpgor contained herein, Mortgagor does hereby mortP, P aQd conveg to Moo' ore the following deserRoO
<br />properity located.ia Hall County,.Nebraska:
<br />Ate,; toot Four (4), Block Nine (9)',• Continental Gardens of. Lot Four (4),
<br />81.E Nine '(9), Continental Gardens,. an Addition to the City of Grand Island,
<br />H811 County, Nebraiiica.
<br />-Igpmer: vrnn all uxnrarrup, trnproveunenta, hiaturee, sift%, alleys, Passageways, easements, rights;' pasdeges dad
<br />ap;mAetimm 16cated thereon or in anywise pertaining thereto, and the rents, issues and profits, revenlons and remainders
<br />thereof,: igclutii.�ng, but not limited to, bating and cooling equipu *nt and such personal property that is attached to tie
<br />impra114meats 'ao as to constitute a fixture; all Of which iad"ng replacements and additions thereto, is hereby dedared
<br />to be; a, i . of the .real estate secured by the lien of thin NiortIlage and all of the foregoing being referred to besda as the
<br />Mortgagor further convenants and agrees, with Mortpgee, as follows:
<br />I. Payment. To pay tbe• indebtedness and the laterest thereon as provided in this Moctpp and the Note.
<br />2 Tara Mortpgoi is the owner ,of the Property, has the tig►st and authority to mortgage the Property, and '
<br />walnuts that the lien created hereby is a first and prior lien on the.Piroperty, except as may otberwise be set forth herehL
<br />O Tine Property is subject to a Mortgage wherel
<br />is tbithiorkft e, peorded at Book , Flap of the Mortgage Records of County,
<br />Nebanata, which Mor4W is alien prior to the lien crated hereby.
<br />i, Other prior liens or encumbrances:
<br />Taxis, Assessments.. To pay when due all des, specW assessments and sits pik" charges apiilB# the Property
<br />a wrlttea demand by iiWrfpgee, to add to the'
<br />he payments required under the Note secured berebq, such amount as
<br />may tie wdIIcieat to.eaabie the Maetpfeo to pay such 'taxes, assessments or other charges as thi j, 11e00121114tft.
<br />4. Iaauasrmx To
<br />keep the impmvrmenta novF or hereafter located on the real estate described herein inured
<br />apiruat dsmw by fire and such other hazards as Morippe may require, in amounts and with companies abeeptabte to the
<br />40d " 00, and with. lost payable to the Mortgagee: ,,fA .CW of loss under such polides,tbe Mortgagee Is authorized to
<br />640K collect dad coamprombe, in its discretion, all daims thereunder at its sole option, authorized toeitherapplythe
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />," tinise until the INJUS secured hereby are paid in lull.
<br />r' 5. O Firmer For Tawas sold Issuraisce. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />ceatxaey, Mortgagor shall pay to the Mortppee at the time of paying the monthly installments of principal and interest,
<br />cese twdf k of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mod#W, W as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />bid by tier iiiortgagee witibout interest and applied to the payment of the items in respect to which such amounts were
<br />L deposited. MW sums paid to Mortppe hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortppe, Mortpgonhall pry to Mottpgee the amount of any deficiency between the actual taxes, assessments, insurance
<br />paornhwas and ground rents and the deposits hereunder within 10 days after demand Is made upon Mortgagor requesting
<br />payment thereof.
<br />8, Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildinp 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 />other liens not expressly subordinated to the lien herept; not to make, suffer or permit any nuisance to exist, nor to dimin-
<br />M 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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