|
1
<br />59-- i�0`731
<br />REAL ESTATE MORTGAGE
<br />THIS MORTGAGE is entered into between GALEN E. LAMBRECHT
<br />and HARRIET K. LAMBRECHT, husband and wife, as "Mortgagor ", and
<br />MELVIN HINZE, his survivor or assignee, hereinafter referred to
<br />as "Mortgagee ".
<br />Mortgagor is indebted to the Mortgagee in the principal sum
<br />of Four Thousand Dollars ($4,000.00) evidenced by Mortgagor's
<br />Note of even date herewith, providing for principal and interest
<br />with the balance of the indebtedness, if not sooner paid, due and
<br />payable on February 11, 1993.
<br />To secure the payment of the Note, with interest as
<br />provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgage,
<br />and the performance of the covenants and agreements of the
<br />•Mortgagor contained herein, mortgagor does hereby ''mortgage and
<br />convey to Mortgagee the following - described property located in
<br />Hall County,'Nebraska:
<br />Lots one (1) and Two (2), in Block Mane (9), in
<br />the Original Town of Wood River, Hall County,
<br />Nebraska.
<br />together with all buildings, improvements, ,fixtures, easements,
<br />rights, privileges and appurtenances located thereon or in any
<br />way pertaining thereto, and the rents, issues and profits,
<br />reversions and remainders thereof; including, but not limited to,
<br />heating and cooling equipment and such personal property as
<br />attached to the improvements so as to constitute a fixture; all
<br />of which, including replacements and au'diuluit5 ulleKeLV, is hereby
<br />declared to be a part of the real estate secured by the lien of
<br />this Mortgage and all of the foregoing being referred to herein
<br />as the "property ".
<br />Mortgagor further covenants and agrees,as follows:
<br />1. Payment. To pay the indebtedness and the interest
<br />thereon as prove ed in.-.,this Mortgage and the ,,Note.
<br />2. Title. Mortgagor is the owner of. the property And has
<br />the right anTauthority to mortgage the property and warrant that
<br />the lien created hereby is a valid first mortgage on the
<br />property.
<br />3. Taxes, Assessments. To pay when due all taxes, special
<br />assessments and all other c arges against the property and, upon
<br />written demand by Mortgagee, to add to the payments required
<br />under the Note secured hereby, such amount as may be sufficient
<br />to enable the Mortgagee to pay such taxes; assessments or other
<br />charges as they become due.
<br />4. Insurance. To keep the improvements now or hereafter
<br />located on the real estate described herein insured against
<br />damage by fire and -such other hazards as Mortgagee may require,
<br />in amounts and with companies acceptable �o. the Mortgagee and
<br />with loss payable to the Mortgagee and Mortgagor as their
<br />interests may appear. In case of loss under such policies, the
<br />Mortgagor is authorized to adjust, collect and compromise all
<br />claims in Mortgagor's discretion. The proceeds from any claim
<br />shall first be applied to the indebtedness secured herein.
<br />5. Repair, Maintenance and Use. To promptly rQn�ir;
<br />restore or ""rebuild any buildings or� improvements now or hereafter
<br />on the property; to keep the property in good condition and
<br />L repair, without waste, and free from mechanic's or other liens
<br />not expressly subordinated to the lien hereof; not to make,
<br />suffer or commit any nuisance to exist nor to diminish or impair
<br />the value of the property by any act or omission to act; and to
<br />comply with all requirements of law with respect to the property.
<br />7
<br />f
<br />
|