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<br />MORTGAGE 89'x" 102979
<br />This Mortgage is entered into between Frank E. Kolar. a single ers+an
<br />(herein "Mortgagor ") and
<br />1 Five Polnts__Brank, rand Island, Nebraska
<br />(herein "Mortgagee").
<br />MortgMar is indebted to Margejee In the principal sum of $ 10.000.00 , evidenced by Mortgagor's note
<br />dated June 9, 1989 (lrerrin "Note ") providing for payments of principal and interest, with the balance of the
<br />Indebtedness, it not sooner paid, due and payable on_ oecember 6_11989
<br />Tosecure,tbepsymentof the Note, with Interest as provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect the security 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 located in Hall County. Nebraska:
<br />Lot Twenty (20), and Lot Thirty -Six (36), Regency By The Green Subdivision to
<br />the City of Grand Island, Hall County, Nebraska.
<br />Together with all budder, improvements, fixtures, streets, alleles, passageways. easements, rights, privileges and
<br />appurtenances located thereait or in anywise pertaining thereto, and the rents, issues and profits, ret!ersions and remainders
<br />thereof; including, but not limited to, heating and cooling equipment w4 such personal property that Is attached to the
<br />Improvements so as to constitute a fixture; all of which, including r*16cements and additions tit_eivto. is hereby declared
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<br />_ to be a part of -the teal estate. skured by the lien of this Mortgage and all of the foregoing being referred td herein as the
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<br />Mortgagor. Ldr*er convenants and agrees. with Mortgages. as falLaws:
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<br />1. Payment. To pay the Indebtedness and the interest thereon �s provided in this Mortgage and the Note.
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<br />2• Title. M'or*ger 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 />O The ProWity Is subject to a Mortgage wherein
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<br />Is the Mortgagee, recorded at Book , Page of the Mortgage Records of County,
<br />Nebraska, which Mortgage is a lien prior to the lien created- hereby.
<br />O Other prior liens or encumbrances:
<br />3. Taxes, Asseutaents. To pay when due all taxes, special,, assessments and all other charps against the Property .
<br />and, upon written diimaad, by lifortgagee. to add to the payments required under the Note secured-hereby, such amount as. -
<br />may be sufficient to eatable the Vartgagee to pay such taxes, assessments or other charges as they become due.
<br />d. Inweassm. 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 lass payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust. collect and compromise, in its discretion, all claim thereunder at its We option, authorized to either apply the
<br />prooeeda to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con -
<br />tine• until the sums secured hereby are paid in full.
<br />S. O EKWw For Tax" and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />coittrary, 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 reasonably estimated from time to time by the Mortgagee. The amounts 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 />deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagor
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<br />shall pay to Mortgagee the amount of any deficiency between the actual taxes. assessments, insurance
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<br />premiums and ground rents and the deposits hereunder within 10 days after demand is rnade upon Mortgagor requesting
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<br />payment thereof.
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<br />ti. Repair. Maintenance and Use. To promptly repair. restore or rebuild any buildinga or improvements now or
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<br />hereafter on the Property; to keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />other liens 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 any act
<br />or omission to act: and to comp {y with all nqulrernents of law with
<br />respect to the Property.
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