90106417 - Laserfiche WebLink

Browse

%� 9.�... y4.1 ��.. Huffman and, i�ltln b Wpb, W; } R &U PROPERTY MORTGAGE. Open-end, to secure present and future obligations and advances d Thomas E. Fowler and Carol J. Fouler, husband and wife, and each in his and her own right, herein called the "Mortgagor" whether one or snore, in consideration of the advance of the principal sum recited in the notes hereinafter described and in consideration of any future advances made by Mortgagee to Mortgagor as hereinafter provided, hereby mortgagee and conveys to The Jones National Dank and Trust Company of Seward, Nebraska hem-in called the "Mortgagee?', the following described real estate together with all the right, title and interest of the Mortgagor therein orhereaa fteracquiredincludinRal lbuildings and improvementanowonorhereafterplaoed onsuch real estate: Lots Fourteen (its) an(j Fifteen (15), in r�zgle Lake Estates Subdivision, Hall County. Nebraska �3 '..1•��•1 �. h�br fl�.t This mortgage is given to secure- A. Promissory note dated November 7. 1990 gruer, by Mortgagor to M&-kzagee in the principal ail y Ikon- nn payable with interestaccording to the terms ofsuch note and any instrumerittaken in connection with refinancing, extending or renewing the indebtedness evidenced by such note or any part thereof; B. Any future advance(s), with interest, which may be rraAe from time to time by Mortgagee atits option in satyr amount(s), provided, however, such future advances shall be sal• firnited that the total principal amounts outstanding at any one time shall not exceed the sum of S 180 - 000 - EL dollars, to be repaid in accordance wi_� the terms ofa promissory note(s) evidencing any such advance(s). Any such advance(s) shall be additional to' �,¢ advance(s) hereinafter authorized to be made by Mortgagee for the protection of the security or Mortgagee's inntwest therein. Klartgagor hereby eovenanta juicy Mortgagee and iu srr,anssors and assigns that Morgagor is lawfully seised of such real. estate and is the fee owner thereof, that Mortgagor h a-s good right and lawful authority to convey the sr that Mortgagor hereby relinquisht. ; a:'1 rights of homestead 0yerein, and that Mortgagor warrants and will defend the title to such real estateagainst the lawful claims of all persons whomsoever. Additionally, Mortgagor covenants and agrees with Mortgagee as follows: 1. Mortgagor shall pay a1[ Coxes and assessments in aspect of or 1 evied upon such real estate before the same become deliquent and shall pay when due any lien or;ad gm ej.,t on such real estate. 2. Mortgagor sbaa procure and maintain Era.. wiadstur n and extended coverage insurance on all buildings or other improvements now on or hereafter places u- or such rn0 estate in an amount satisfactory to Mortgagee, smash insurance to have a mortgage clan we;. lwss thereunder to N- Payable to Mortgagee as its interest may appear. 3. Mortgagor shall not commit nor pert2t.it arty vve., -te on such real estate, shall keep all buajdittj;u a ni, improvements in good repair and shall not impair or permlit the impairment of Mortgagees security in any way. 4. Mortgagor hereby assigns to Mortgap -t =- 41 rear_,' um connection. with such piz estate. In the event Mortgagor fa& ra. nay such 'taxes anil a3asRissments or fails to pma_un such fn cause On- removal of any lien on, a:.uch. seal ost.Ww, Mortfza gull may at its option pay such taxes and asse!kmeints3 or procure such insurance or pay an amount.3fttjoivesc* .ry to satisfy such lien, and all amounts advanced therefore shall become a part of tine indebtedness secured hereby,. aahall be due and payable immediately and shall bear interest at the mnivimum rate allowed by the laws of the Stain, of Nebraska at the time of such advancement. Inthe event Mortgagor defaults (a) in the payment when due of such principal sum or any instal Iment thereof or any interest thereon. (b) in the repayment when due of any advances made as provided herein or any interest thereon, or (c) with respect to any covenant or condition contained in this mortgage. Mortgagee may, at its option without notice and at any time during the continuance of such default, declare the entire indebtedness secures(, by t his mortgage to he immediately due and payable with interest atthe maximum rate then allowed by Nebraska law and may immediately foreclosethis mortgageor pursue any other available legal remedy. In the event of any action by Mortgagee to enforce collection of indebtedness secured hereby, Mortgagor agrees that any expense incurred in connection therewith including costs and reasonable attorney fees shall become a part of the indehtedne,,.; secured by this mortgage. In the event of any default set forth in the foregoing paragraph. Mortgagee shall be entitled to immediate possession of such real estate and all the rents, revenue and income derived therefrom during such time as the indebtedness secured hereby remains unpaid shall be applied by the Mortgagee to the payment i if sue h indebtedness including amounts deemed to be a part thereof as set forth hereinabove. li �I �I .I i; I� i{{ II I I • '3 ^Fyo��if _ '4 a •