|
This Mortgage is entered into between
<br />MORTGAGE
<br />89�- $02785
<br />Lawrence B. Spanel, a single person
<br />°— - — - — - (herein " Mortgagor ") and
<br />FI1i6 POINTS BANK ._ --(herein (herein "Mortgagee" ).
<br />Mortgagor Is indebted to &iortgagee in the principal sum of $ 4400 0.00 . evidenced by Mortgagor's note
<br />dated 5 -25"88 (herein "Note ") providing or
<br />g payments of principal and interest, with the balance of the
<br />Indebtedness, if not sooner paid, dtRre agdi payable on 1 -10-91 ,
<br />To secure the payment of t.JW Note, with Interest as provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect of this Mortgage, 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 beat In Hall County, Nebraska:
<br />Lot-Eighteen (18), in "Sunset Subdivisim ", Located on Part of the North Half of the
<br />Northeast Quarter (NhNE;) of Section Elevc-rt (11) , in Township Eleven (11) North,
<br />Range (10) West of the sixth P.M., Hall County, Nebraska.
<br />Together with all buildings. Impraipatents. fixtures, streets, alleys, passageways, easements, rights, privileges and:'
<br />appurtenances located thereon or in anywise pertaining thereto. and the rents. issues and pwflts, reversions and remainders
<br />stir =liradted tGi hre its :rd cuintug rquipment and such penwnalViroPe" that is itttic6etl to the - - - -
<br />iM4ftvt1r1enU so as to constitute a fixture; all of which. including replacements and additions thereto, Is hereby declared
<br />�.
<br />io tat• a part of the wai estate secured by the lien of this Mortgage and all of the foregoing being referred to bevels as the
<br />Yaw �as
<br />Mortgagor-further convensms aadsgrees, with Mortgagee, as follows:
<br />' =t
<br />I. Pityment. To pay rites indebtedness and the interest thereon as prodded in this Mortgage and the Note.
<br />Z. Title. Mortgagor is the owne's a•E the Property. has the dot•and authority to mortgage the Propertyr,aad
<br />warrants that tae On created hereby is a first and prior lien on the Pro*rty. except as may otherwise be set fortl i hereka.
<br />QI The Property is subject to s Mortgage wherein none
<br />is the Mortgagee, recorded at Book .Page of the Mortgage Records of County,
<br />'
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby. :
<br />In Other prior liens or encumbrances: node
<br />& Taxes, Aaaea ments. To pay when due all taxes, speciit'assessments and all other charges against t ie, Property
<br />and.,. upon written demand by Mortgagee, to add to the payments required under the Note secured hereby,sucta•amount as
<br />trlty be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. insruance. To keep the improvements now or hereafter. located on the real estate described herein insured
<br />against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. i a. case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, all cWms thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue until the sums secured hereby are paid in full.
<br />L 0 Picrow For Tax" and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />µ
<br />corrtruy, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, all as ressonably estimated (turn time to time by the Mortgagee. The amounts
<br />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 />dWsit!-d. The Sums PeAd to bortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagor
<br />real'
<br />L
<br />shall 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 />payrivrit thereof.
<br />�
<br />6. It*pair. Ntalntenaace and Use. To promptly repair, restore or rebuild any buildings or intproventen4s now or
<br />1`141rrafter on the Property; to lit-up tho. Property in good condition and repair. without waste, and frier from inechanle's
<br />h
<br />or
<br />utoherL•ers not c xpt. a;ly suGartl;aa.d tv It'" lire: hernaf; not to make, suffer or y..•nn,t any nu,r�anee to exist, nor to dimin•
<br />'
<br />vh Or impair thv Value of the Prupc•rty t,y any act or urnk..unn to a:•t, and to cornpl) with all reyuirrments of law with
<br />n- , fact to the 1'r' operty
<br />
|