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NIORTGAGEE: ' REAL ESTATE 'MORTGAGE AVCO FINANCIAL SERV.ICE3. MICROFILMED OF NEBRASKA INC.' I ACCOUNT NUMBER- MORTGAGOR(S): 1212 1'1. 2nd LAST NAME FIRST - INITIAL SPOUSES NAME - - BUTTERFIEED LEROY' Grand Island. ,NEBRASKA WITNESSETH, that Afortgagor(s), does mortgage; grant, bargain, sell,. and convey, unto Alortgagee, its successors or assigns the following described Real Estate in the county of Hall , State of Nebraska, to wit: �\ THE SOUTHERLY 421. OF THE UORTHERLY 841 OF LOT 5 IN BLOCK 18 IN H.G. CLARKIS �p ADDITION TO„THE CITY OF GRAND ISLAND, NEBRASKA together with all buildings and improvements now or hereafter erected thereon and all screens, awnings, shades, storm sash and blinds, and heating, lighting, plumbing, gas, electric, ventilating, refrigerating and air-conditioning equipment used in connection therewith, all of which, for the purpose of this mortgage, shall be deemed fixtures and subject to the lien hereof, and the hereditaments and appurtenances pertaining to the property above described, and all, streets, lanes, alleys, passages, ways, waters, water courses, rights, liberties and privileges, whatsoever thereunto belonging or in anywise appertaining and the reversions and remainders, all of which.is referred to hereinafter as the .'premises". TO HAVE AND TO HOLD the above-described premises, with the appurtenances and fixtures, unto the said Mortgagee, its successors and assigns, forever, for the purposes and uses herein set forth, free from all rights and benefits under and by virtue of any Homestead Exemption Laws of the State of Nebraska. which may be enacted, which said rights and benefits the said Alortgagor does hereby expressly release and waive. Mortgagor also assigns to Mortgagee all rents, issues and profits of said premises, reserving the• right to collect and use the same,•with or without taking possession of the premises', during continuance of default hereunder, and during continuance of such default authorizing Mortgagee to enter upon said premises and/or to collect and 'enforce the same without regard to .adequacy of any security for the indebtedness hereby secured by any lawful means including appointment of a receiver in the name of any party hereto; and. to apply the same less costs and expenses of operation and collection, including reasonable attorney's fees, upon any indebtedness secured hereby, in such order as Mortgagee may determine; FOR THE PURPOSE OF SECURING: (1) Performance of each agreement of Mortgagor contained herein; (2) Payment of the principal sum with interest, as provided in accordance -with the terms and provisions . of a Promissory Note / Loan Agreement (hereinafter referred to as "promissory note") dated 6-3-75 herewith executed by Mortgagor and payable to the order of Mortgagee, in the principal sum of S 3000.00 , and having the date of its final payment due on 6-3-79 or as extended, deferred 'or rescheduled by renewal or refinance; (3) Payment of any additional advances, with interest thereon, as may hereafter be loaned by Mortgagee to 1\fortgagor in a maximum sum of $3,000.00 within 10" years• from the date of this Mortgage; (4) The payment of any money that may be advanced by the Mortgagee to Mortgagor for any reason or to third parties, with interest thereon, where the amounts .arc advanced to protect; the security or in. accordance with the covenants of this Mortgage; (5) Any renewal, refinancing or extension of said promissory note, or any other agreement to pay which may be substituted therefor. All payments made by Mortgagor on the obligation secured by this Mortgage shall be applied in the following order: FIRST: To the payment of taxes and assessments that may be levied and assessed against said premises, insurance premiulius, repairs, and all other charges and expenses agreed to be paid by the Mortgagor. SECOND: To the payment of interest due on said loan. THIRD: To the payment of principal. TO PROTECT THE SECURITY•I"IEREOF, AIORTGAGOR(Sj COVENANTS AND AGREES:.(1) to keep said premises insured against loss by fire and other hazards, casualty and contingencies up to the full value of all improvements for the protection of Mortgagee in such manner, in such amounts, and in such companies as Mortgagee may from time to time approve, and that loss proceeds (less expense of collection) shall, at Mortgagee's option, be applied on said indebtedness, whether due or not or to the restoration of said improvements. In event of loss Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Moitgagor,•and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead -oftto the Mortgagor. (2) To pay all taxes and special assessments of any. kind that have been or may be levied or assessed upon said premises, and tor;deliver to Mortgagee,'upon request of the Mortgagee, the official receipt showing payment of all such taxes and assessments. (3) In the event of default' by Mortgagor under Paragraphs I or 2 above, Mortgagee, at its option, may (a) place and keep such insurance above provided for in force throughout the life of this Mortgage and pay the reasonable premiums and charges therefor; (b) pay all said taxes and assessments without determining the validity thereof; and (c) Pay such "liens and all such disbursements shall be deemed a part of the indebtedness secured by this Mortgage and shall be immediately due and payable by Mortgagor to Mortgagee. (4) To keep the buildings and other improvements now existing or hereafter erected in good condition and repair, not to commit or suffer any waste or any use of said premises contrary to restrictions of record or contrary to law, and to permit Mortgagee to enter at all reasonable times for the purpose of inspecting the premises; not to remove or demolish any building thereon; to restore promptly and in a good and workmanlike. manner any buildings which may be damaged or destroyed thereon, and to pay, when due, all claims for labor performed and materials furnished therefor; (5) That he will pay, promptly the indebtedness secured hereby, and perform all other obligations in full compliance with the terms of said Promissory Note and this Mortgage; (6) That the time of payment of the indebtedness hereby secured, or of any portion thereof,. may be extended or renewed, and any portions of the premises herein described may, without notice, be released from the lien hereof, without releasing or affecting the personal liability of any person or the priority of this Mortgage; (7) That Ile does hereby forever warrant and will forever defend the title and possession thereof against the lawful claims of any and all persons whatsoever. IT IS MUTUALLY AGREED THAT: (1) If tate said Mortgagor shall fail or neglect to pay instalhncnts.on said Promissory Note as the same.nuay hereafter become due, or upon default in performance of any agreement hereunder, or upon sale or other disposition of the premises by Mortgagor, or should any action or proceeding be filed in any court to enforce any lien on, claim against or interest in the premises, then all sums owing. by the Afortgagor •to the Mortgagee tinder this Mortgage or under the Promissory Note secured hereby shall immediately become due and payable at the option of the Mortgagee, on the application of the Mortgagee, or assignee, or any other person who may be entitled to the monies due thereon. In such event the Mortgagee shall have the right immediately to'foreclose this mortgage by complaint for that purpose, and such complaint may be prosecuted -to judgment and execution and sale for the collection of the whole .amount of the indebtedness and.interest thereon, including reasonable attorney's fees, any amounts advanced pursuant to this mortgage, costs of suit, and costs of sale; if permitted by law. (2) In the event said premises are sold at a foreclosure salc,-Mortgagors) shall be liable for any deficiency remaining after sale of lite premises if permitted by law, and application of the proceeds of said sale to the indebtedness secured and to the expenses of foreclosure, including Mortgagee's reasonable attorney's fees and legal expenses if allowed by law. (3) Mortgagee shall be subrogated to the lien of any and all prior encumbrances, liens or charges paid and discharged from the proceeds of the loan hereby secured, and even though said prior liens have been released of record, the repayment, of said indebtedness shall be secured by such liens on the portions of said premises affected tltereby:to the extent of such payments, respectively. (4) Whenever, by the terms of this instrument. or of said. Promissory Note, Mortgagee is given any option, such option may be exercised when 'the right accrues or at any time thereafter, and no acceptance by Mortgagee of payment of indebtedness in default shall constitute a waiver of any default then existing and continuing or thereafter accruing. (5) By accepting payment' of any sum accrued hereby after its due date, mortgagee does not waive its right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. If Mortgagor shall pay'said Promissory Note at the time and in the manner aforesaid and shall abide by, comply with, and duly perform all the covenants and agreements herein, then this conveyance shall be null and void. 26.0475 (REV. 10-71)