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MORTGAGEE: REAL ESTATE MORTGAGE AVCO FINANCIAL SERVICES. Of 0 0 9 u 1 itebraslca, 111C. JACCOUNT NUMBER 7 MORTGAGOR(S) 1212 "1. 2nd LAST NAME FIRST - INITIAL J5P0U5C*S NAME J V 1.LD2Z 1G1,TAC10 It C11TTHIA . Grand Island, _NEBRASKA WITNESSETH, that Mortgagor(s), does mortgage; grant, bargain, sell,.and convey, unto Mortgagee, its successors or assigns the following described Real Estate in the county of 17 •m T T , State of Nebraska, to wit: LOT 7 - BLOGX• 1G, H.G. Clarks" Fo together with all buildings and improvements now or hereafter. erected thereon and all screens, awnings, shades, storm sash and blinds, and lmeating, 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, alloys, 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 Mortgagor does hereby expressly' release and waive. Mortgagor also assigns•to ;1lortgagee all rents, issues and profits of said premises, reserving the right.to collect and use the same;,wilh 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 a appointment of receiver in the name of any party hereto, and to apply the same less costs and expenses of operation and collection, includ ing reasonable attorney's fees, upon any indebtedness secured hereby, in such order as Mortgagee may determine. FOR THE PURPOSE OP 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 7--30-75 herewith executed by Mortgagor and payable to the order of Mortgagee, in the principal sum of •S 7000.00 and having the date of its final payment due on 7^30-79 , 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 Mortgagor in a maximum sum of S3,000.00 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 are advanced to protect tile 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 premiums, repairs, and all other charges and expenses agieed to be paid by the Mortgagor. SECOND: To the•paymentof interest due on said loan. THiRD: To the payment of principal TO PROTECT THE SECURITY* HEREOF, dIORTGAGOR(S) 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 appliedon 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 niortgagor,. and- each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to 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 to 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 1 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 succi :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 'tile 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 tile terms of said Promissory Note and this Mortgage; (G) 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 frotn the lien hereof, without releasing or affecting the personal liability of any person or the priority of this Mortgage; (7) That he 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 the said Mortgagor shall fail or neglect to pay installments on said Promissory Note as the same.may 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 Mortgagor'. to the Mortgagee under 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 maybe prosecuted to judgment and execution .and sale for the collection of the wholeamount 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,preniises are sold at a foreclosure sale, Itlortgagor(s) shall be liable for any deficiency remaining after sale of the 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 hen 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 thereby.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 time 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)