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<br />7 501 77&
<br />THIS INDENTURE WITNESSE'I'U, that
<br />RANDOLPH K. KNOX and CONNIE J. KNOX, husband and wife,
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<br />of . Hall County, Nebraska, herein ..ailed MORTGAGOR. in consideration of S 60,700.00 in hand
<br />paid, does hereby grant, bargain, selland convey to THE PIWDENTIAL INSURANCE COMPANY 01>' AMERICA, a corporation
<br />of the State of lITew Jersey, having its principal office in the City of Newark, New Jersey, herein called MORTGAGEE,its successors
<br />and aSsigns forever, the following d...oribed'r....1 estate situated in the City of
<br />Grand Island, Hall County, Nebraska, to-wit:
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<br />Lot Sixteen (16), Capital Heights Sixth
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<br />Subdivision, Hall County, Nebraska
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<br />In the event mot-tgagor';'. w:i:tli6ut'" the'piior written consent of mortgagee, shall sell,
<br />convey or.alienate, including by contract sale, the mortgaged premises or any part thereof,
<br />or any interest therein, or shall be divested of its title or any interest therein in any ~
<br />manner or way, whet~er voluntary or involuntary, the entire balance of the indebtedness ~~
<br />shall be and become immediately due and payable, at the option of mortgagee. ~
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<br />-f together with an the appurtenan088 thereunto belonging or in an)' wise pertaining thereto. Mortg"Kor relinquish8ll all rights of home-
<br />~ atead and &II other contingent interest in said premis.... The conveyance of the premis8ll above descrihed together with all the rents,
<br />o iaulllland profits thereof is made to securt.' the repayment of a loan made by the Mortgagee to the Mortgagor. as evidenced by a prom is-
<br />-t ->' note of eYen date herewith in the principal sum of
<br />SIXTY THOUSAND SEVEN HUNDRED AND 00/100 - - - - - - - - - - - - - - - - - - - - - - Doll&l'll
<br />(. 60 700.00 ). executed by the Mortgagor and payable to the order of the Mortgagee. with interl!llt at the rate
<br />th...u: I18t forth, &he principal and interest payable in accordance with the terms of said promissory note. and finally maturing on
<br />January 1, 2018 .:iM:xx ,All sums due shall bear interest after the due date at the rate of:ilmper annum. and with a
<br />_nable attorney's lee u may be determined by the Court. 12 3/4 %
<br />Mortpcor hereby elEpl'_ly covenants and &gr8llII with Mortg&g<l8, as follo..s:
<br />1. Mortgagor is lawfully seized of an indefeasihle estate in fee simple free from encumbrance> and has good right and power to
<br />convey an absolute title, in fee simple. including all the rights of homestead, and will warrant and defend the title to the same against
<br />all lawful claims.
<br />2, To pay all BUms hereby secured when due.
<br />3, To pay when due all taxes and assessments of every type or nature levied or assessed against said property, or upon the Mort-
<br />ga&ee's interest therein; and also to pay any claim, lien or encumhrance against said property which may be or become prior and senior
<br />to the lien of this mortgage.
<br />4. To keep all buildings on the mortgaged property insured against loss and damage by fire. windstorm and other hazards, with such
<br />solvent insurance company or companies, and in such amounts, as are satisfactory with the Mortgagee, and with the proceeds of loss
<br />payable to the Mortgagee as its interest may appear. The policies of insurance. and abstractS and other evidence of title, shall be delivered
<br />to and held by the Mortgagee without liability, and upon foreclOllUJ'e of this mortgage. or acquisition of the rea! estate or any part thereof.
<br />in any other manner, shall become the absolute property of the Mortgagee. The loss proceeds (less expenses of collection) s~all, at
<br />Mortcagee's option, be applied to said indebtedness. whether due or not, or to the restoration of the improvements, or all or any part
<br />thereof may be releaaed by Mortgagee. In event of foreclosure Mortgagor authorizes and empowers Mortgagee to effect insurance upon
<br />the premises in the amounta aforesaid for a period covering the time of redemption from foreclosure sale, and if neceaary therefor to
<br />cancel any or all exiSting ill8Ul'al1ce policies.
<br />6. Mortgagor (i) will not remove or demolish nor alter the design or structural character of any building now or hereafter erected
<br />upon the premises unl_ Mortcagee shall first consent thereto in writing; (ii) will maintain the premises in good condition and repair;
<br />(iii) will not commit or sutrer wute thereof; (iv) will not cut or remove nor suffer the cutting or removal of any trees or timber on the
<br />premises (ucept for domestic purposes) without Mortpgee's written consent; (v) will comply with all laws, ordinances, regulations,
<br />covenanta, conditions and restrictions atrecting the premises, and wili not suffer or permit any violation thereof.
<br />6, ID the event Morteaeor fails to pay any olaim. lien or encumbranOB or the taIllII or assessments above mentioned. or pay the
<br />pI'8IIliUJDll at WlU'aDC8, or keep Aid premial!ll in repair. or shall commit or permit the commission of ~ wute, or shall delault in the
<br />P,IItormllllCle at,aDy of &he ...... covenants and agreements of the promissory note'ncured by this mortgage. or or this mortglllr8, or
<br />If,&be lI~slul.U abaadon said properly, or if the Mortcagee shall be made a party in any suit on aooount of the existence of
<br />&his Ibortpp 01' involvinc the tiUe to said re&\ 8lItate, the Mortcacee may pay aaid claims, liens, enoumbrances, taxes, IlIIS88Bments, or
<br />premiums, with richt 01 subrogation thereunder, or make repain, or purohue a taI title, and may procure such abstracts of title or
<br />other evideDOB of title.. it deema DllCt!Uary, or pay oourt ('011", and all sums 10 paid. with interest at the maximum rate allowable
<br />by law, shall beoome a part of the indebtedn_ bfll'eby securlld, and also tbe whole of the ind!!lttodness soour",1 hereby shall becnmo
<br />&Ddbe immediately due and payabiE. at the optioh of the Mor~agee without notice or demand, which are herehy e"pressly waivL~I,
<br />and tbis mortclllr8 may be for8llloaed.
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