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- MORTGAGE 89•—. 101004
<br />This MoutlWis entered into between James P. Powell and Elaine K. Powell_ husband
<br />and wife (herein "Mortgagor ") and
<br />Five Points Bank, Grand Island, Nebraska (herein " Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 20, Q00 _ 00 , evidenced by Mortgagor's note
<br />dated _ (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if notsooner paid, due and payable on- March 1, 1994
<br />To secure the pay=="t of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgajse to protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the I~k elgagor contained herein, Mortgagor does hereby mortgage and• convey to Mortgagee the following described
<br />property' located In Hall County, Nebraska:
<br />Fractional_ 1sot gn (10) in fractional Block Twenty -one' (11) in Fairview Park Addition
<br />to the City -of ��nd::1stand,1:1," oA County, Nebraska, ai!:" its compliment fractional
<br />Lot `den (10) . itn fiF-ti�!a B1 Six {b) . of Wallichs At{ri #ion to the City of Grand
<br />l l r Hall CQunty; <.1?�t�t - :• ,
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges an4
<br />appurtenances located thereon or in anywise pertaining thereto, and the renta, imues and profits, reversions and remainders
<br />thereof; including, but not limited to, beating and cooling equipment end such personal,- property that is attached to the
<br />Improvements so as 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 off. of the fanagaing being referred to herein as the
<br />Mortgagor further convenants and agrees, with Mortgagee, rs fallgw's:
<br />1. Payment. To pay the indebtednm and the interest thereon as providtid:in,thit;Ntortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, has the right-and authority to mortgage the Property, and
<br />warrants that the lien created hweby is a first and prior lien on the Property, except. as may otherwise be set forth herein.
<br />18 The Property is sub" : Ynayfortgage wherein Th`Fgidtahip Ruilrlina F loan Acorn,
<br />as Occ- *7a- 001741
<br />Is the Mortgagee, recorded of the bloitgage Records of Hall- County,
<br />Nebraske, which Mortgage Is a Uum ;rior to the lien created hereby. -
<br />O Otfter prior liens or encumbrances:
<br />8. Twat,, itaressmet<1z. To pay %two due all taxes, special asimments and all other charges against the Property
<br />and, upon written demmind by Mortgagee, to add to the payments requited under the Note secured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. inwranee. To keep the improvements now or hereafter located on the real estate described herein insured
<br />agait:st damage by fire-and such other hazards as Mortgagee may require, In amounts and with companies acceptable to the
<br />Mortgagee, and with toes 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 thereunder at its sole option, authorized to either apply the
<br />proceeds to the matondoa of the Propetty or upon the indebtedness secured hereby, uua yayrrenta hereunder shall con-
<br />tinue. until the sums secured hereby are paid In full.
<br />S. O Escrow For Taxes and lnwrance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one -twel tb of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, all as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />deposited. `lire sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortpgersbsall
<br />pay to Mortgagee the amount of any deficiency between the actual taxes. assessments, insurance
<br />3«
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />�t
<br />L payment thereof.
<br />& 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 />t
<br />othertiiens not expressly subordinated to the lien hereof: not to make. suffer or permit any nuisance to exist, not to dimin•
<br />F
<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 />;
<br />respect to the Property.
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