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<br />This Mortgage is enteredtntobetween Galen B. McHugh and Kathy, J. McHugh, husband
<br />and vife (beret*" '
<br />the City of Grand Island, a Municipal Corporation (herein "Mortga1ee 11).
<br />Mortgagor Is Indebted to Mortgages lathe principal sum of $ 13 , 000.00 , ovldeaced by Modswe's note
<br />dated April 7t 1989 ( herein "Note') providing for payments of pftdpd sad Inures!, with the batanee of the
<br />indebtedness, if not sooner paid, due and payable on October 30, 1990 .
<br />To secure IM payment of the Note, with interest as prodded therein, the payment of al[ other sinus, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgagee, and the performance of the covenants and agreements of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located In Hall County, Nebraska:
<br />The Westerly Thirty Three (33) feet of Fractional. Lot. Silt • 4) inn tractiorial . ,
<br />Block One Hundred Forty Three (143) of Union Y$ci 'fid `PAI. w�sy" pa�ny's second .
<br />Addition and all that part of Fractional Lot Seven.);; in•9tact-lonal Block
<br />Eleven (11) of Russel Wheeler"s Addition; lyih Rest 'pf `t,e' easterly Thirty: Three.
<br />-(33) feet of said Fractional Lot Seven (7)., id' sAid' Frac ' oxlal, , b6eS ,Eleven (lI),
<br />both being Additiome to the City of Grand I¢istnd;` CHs;! ; Co' � ityy; Oebiraska;,• 4. 18,6.
<br />known as 408 East 9t1i Street
<br />Together with all bZt ngs, Improvements, fixWes, streets, alley's; passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents. Issues snd pronts,reversions and remainders
<br />thereof, including, but not llmn fed to, heating and cooling equipment and such personal property that Is attached to the
<br />impmvements so as to constitute e a fixture; all of whi&, including replacements am W additlons thereto, is hereby declared '
<br />to be a part of the real estate cured by the lien of tiLis Mortgage and all of the foregoing being referred to herein as the
<br />MoAprarfarther coneenants and agrees, with Mortgage*, as fo67aws :. ;
<br />1. Psyment. To gwy da! Indebtedness and the iarrmest thereon as provi6k ra thh Mortgage and the Nbla.
<br />L Title. Mortgagor k !:he owner of the Property, has the right and kuthority.to mortgage the Property, and '
<br />warrants that the lien created hereby Is a first and prior lien on the Property, except as may otherwise be set forth herein.
<br />O The Property is su` *, t to a Mortgage wherein s
<br />is the Mortgagee, recorded at Book . Page. of the Mortgage Reewds of County.
<br />Nebraska, which Mortgage Is a i;fen prior to the lien created hereby. :
<br />O Other prior lie=ar encumbrances:
<br />3. Tuea, Aaseae mfr To pay when due all taxe-% special assessments ad alt other charges agdnst the Property
<br />aced, upon written demand by ial'eertgagee, to add to the payments required under tbs Note secured hereby, such amount as
<br />7Aj be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges au they become due.
<br />4. Insurance. To. keep the improvements now or hereafter locatstl on the red estate described herein invited
<br />against dump by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgape, and with lose payable to the Mortgagee. In care of loss under such policies the Mortgagee is suthodad to
<br />adjust, collect and compromise, in Its discretion, all claims thereunder at Its sole option. authorized to eitherapply the
<br />proweda to the restoration of the Property or upon the indebtedness secured hereby, but payments hereundershdl't:on-
<br />Unue until the sums secured hereby are paid in full.
<br />S. D Ficraw For Tares and Insurance. Notwithstanding sayall g conUlrsed in paragraphs 3 and 4 hereof to the
<br />oontmzy, Mortgagor shall pay to the Modpgee at the time of paying the - mori y" i tPrneats gft►rir, Val'and interest,
<br />one - twelfth of the yearly taxes, assessments, hazard Insurance premiumsk it l!' ,t a +t (i %fhgy *'Aid* may attain a
<br />priority over this IlRortgaRe, ail as reasonably estimated from time to tame bytLs�- 7 amouata so paid shall be
<br />held by the Mortgagee without interest and applied to the payment of the iterats In respect to which sueb amounts were
<br />deposited. Tire sums paid to Mortgagee hereunder are pledged ass additiond wcWty for the indebtedums secetred by fires
<br />Mortgage. Mortpgorshall pay a* Mortgagee the amount of any deficiency between the actual taxes, usesarnentu, Insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand Is made upon Mda pgor requesting
<br />payment thereof.
<br />d Repair, Maintenaaee sad Use. To promptly repair, restore or rebuild any buildinga or improvements now or
<br />hereafter on the Property; to keep the Property In goad condition and repair, without waste, and fttw fram mechanie's or
<br />other lien not expressly subordinated to the lien hereof; not to make, suffer or permit any nui* mt* la exht, nor to dimin-
<br />isb or Imp& the value of Ole Property by any act or omission to act; and to comply with all tegnitienients of law witb
<br />respect to the Property.
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