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MORTGAGE 94-- '105008
<br />TWtiaet�ag ►iseobradiatt,bet�r.ee lames B. McElroy, and Devra A. McElroy.
<br />• ...hii�1>8nd and wife.. - � (hazels "I�tpgor"j and ..
<br />Fi' . Pbifits Balk Grand island: Nebraska' (barein ">KortpOee' +). ,
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<br />wri�.1- aue►ar l► i 3�Q9_ 00 a q#*
<br />411110d,ALIgust t` 7, 1990 (heseip "Note's) providing for payments of principal and interest, with the baLncrof the .
<br />fiii w,ii'aotseimstp(d, iraeMwon Au[tust 7. 1993
<br />as gsold tieea, rie pajZnt of ai oue Sam. Z;e, with inl=L
<br />aA Ma Moe to p mad the mew* of this Mortgage. and the perfornsanee'of the eoeenants and k of .
<br />VW Moatpsgar a *&*d badn, UN&MM does bereby mortgage rmd convey to Mortpgee tha fallowing desc;ibed
<br />Hsi! County, Nebraska:
<br />f t of Seven t7) of the County Subdivision of part of the South Half ISD of
<br />- - 5ectiai 1F ire
<br />-in -T
<br />TiutnzhlVNlne -48) North, Range Nint t9l West of the Sixth T - - --
<br />(6th) P.M., in Hall County, : Nebraska, more particularly Oscribed_ as� foliows, wit': -Beginning at a point 28.1 feet West of the Northeast corner of said Lot 7;
<br />thence running Southerly along and upon a line 28.1 feet West of and parallel to
<br />the East tine of said Lot 7, a distance of 181.0 feet; thence running Westerly
<br />parallel to the North line of, said Lot 7, a distance of 327.0 feet; thence
<br />running Northerly parallel to the East line of said Lot 7, a distance of 181.0
<br />feet; thence running, Easterly . along - and upon the North line of said Lot 7, a
<br />distance of 327.9 feet to the place •of beginning.
<br />Together with all buildings, improvements, fixtures, streets, aneys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders
<br />thereof; lndudlrrg; but not limited to, heating and cooling equipment and 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 />U b• c r. rt of ti:e real •state segued by the lien of this Mortgage and all of the foregoirg being referred to herein as the
<br />« prooperty...
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />L Payatent. To pay the indebtedness amid the literest thereon as provided in this Mortgage and the Note.
<br />2. Titk. Mortpgor is the owner of the Property, has the right and authority 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 />® The Property is sublet to a M~ wherein The Equi•abla Ruil st.,im & Loan Accn
<br />as Doc. ;188 - 105378
<br />b the Uo , recorded =416W , RIP of the Mortgage Records of Aall County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />D Other prior liens or encumbrances:
<br />R. Tatra, Amuments, To pay when due all taxes, special assessments and all other charges against tho Property
<br />and, upon written demand by Mortgagee, to add to the payments required under the Note secured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such Uxesc assessments or other charges as they become due.
<br />4. Iaauranee. To keep the improvements now or hereafter located on the real estate described herein insured
<br />against damage by IlWand such other hazards as Mortgagee misy.require, In amounts and with companies acceptable to the
<br />Mort ee, and siih loss payable to the Mortgagee. Ir case of loss under such »oliciea th' Mnrfgagae is Rutborired to
<br />adjust, cdkct and compromise, In its discretion, sal dab= thereunder at its sole option, authorized mrits hereunder ahaally the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but pay .
<br />tine, until the sums secured bdieby are paid in full. j-
<br />13. 0 Farrow For Tames juid losurante. NotwithstandiMmythin-
<br />0"tkinad h_*'p"*s- el►hs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the AtbNthly` iastailii ents of principal and interest.
<br />one•twelfth of the yearly taxes, assessments, bazard insurance premiums, and ground rents (it any) which may attain a
<br />pit—writ;-over this-Morpp, _li IS r_'Qonably egtimstod from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the - MongiVe without interest and spptted to the-payment of the ite,um in raopect to which sueb arnrst ruts v-
<br />deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />1lortpge. Mortgagorshall pay to Mortgagee the amount of any deficiency between the actual taxes. assessments, insurance
<br />premiums -and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />6.. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to beep the Property in good condition and repair, without waste. and free from mechanic's or
<br />other Hens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimin-
<br />ish or impair the value of the Property by shy act or,omisslon to act; and to comply with all requirements of law with
<br />respect to the Property.
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