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<br />MORTGAGE
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<br />88-100128
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<br />This Mortgage Iselltered into between Marcus J. Snow and Pamela H Snow huc;:h;"nrl
<br />
<br />wife
<br />
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 50 000 00
<br />
<br />(herein "Mortgagor") and
<br />(herein "Mortgagee ").
<br />, evidenced by Mortgagor's note
<br />
<br />Points Bank.' Grand Island. Nebraska
<br />
<br />
<br />dated January 8 1988 _ (herein "Note") providing for payments of principal and intt!rest, with the balance of the
<br />
<br />. indebtedness, if not sooner paid, due and payable on January 8. 2000
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<br />To secure the payment of 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 Mortgsgor contained herein, Mortgagor dOes hereby mortgage and convey to Mortgagee the following described
<br />
<br />property located in Hall
<br />
<br />County, Nebraska:
<br />
<br />Mayer, ,Mehring Subdivision, Lot Six (6) Addition to the City of Grand Island,
<br />Hall County, Nebraska.
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<br />Together with all huildings, improvements, fixtures, streets, alleys, 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; including, 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, includillg replacements and additions thereto, is hereby declared
<br />to bea part of the. real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"Property".
<br />
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<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
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<br />1. Payment. To pay the indebtedness and the interest thereon as provided in this Mortgage and the Note.
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<br />2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and
<br />wamnts that the lien created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein.
<br />
<br />III The Property is subject to a Mortgage wherein Fiv," Points RanI(. Grand Island. Nebraiika
<br />as Document '87-100965
<br />Is the Mortgagee, recorded .~xxxxxx of the Mortgage Records of Hall County,
<br />Nebruka, which Mortgllge is a lien prior to the lien created hereby.
<br />
<br />o other prior liens or encumbrances:
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<br />3. Taxes, A8Iiesm1ents. To pay when dul' all taxes, special assessments and all other charges against the Property
<br />and, upon written demand by Mortgsgee, 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 taxes, assessments or other charges as they become due.
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<br />4. Insurance. To keep the improvements now or hen-after locatcd on the real estate described herein insured
<br />apinst damlit' by fire and such other hazards lIS Mortgagee may require, in amounts and with companil's acceptable to the
<br />Morl&qee, and with 1015 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 claims thereunder at its sole option, authorized to eitherapply the
<br />proceeds to the restonUon 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.' ....
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<br />6. 0 Elerow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />Contrary, Mortpgor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes,8ssessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />pri~rityoverthisMortgage, all as reasonably estimated from timo:! to time by the Mortgagee. The amounts so paid shall be
<br />held by. tJte . ~ortgageewithout Interest and applied' to the payment of the items in respect to which such amounts were
<br />delMM!ted.~e sums, paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />MOrlgaJe_Mortgagorshall pay to Mortgagee the amount of any deficiency between the actual taxes, 8SSl'SSments, insurance
<br />premlumsand groun'd rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />.' payment thereof.
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<br />6". Repair, Maintenance and Use.. To promptly repair, restore or rebuild any buildings or improvements now or
<br />~n!.tteronthe Property; to keep the Property in good condition and repair, without waste, and frl'e from mechanic's or
<br />othe, liens not expressly subordinated to the. lien hereof; nol to make, suffer or permit any nuisance to exlsl, nor 10 d!mln.
<br />ish' or Impair the \lalue of the Property by any act or omission to acl; and to comply with allrequirenll'nts of law wilh
<br />,respect to the ProPllrty.
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