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<br />MORTGAGE
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<br />88-100461.
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<br />This Mortgage is entered into belween -.l:!arold L. Johnson and Kathryne M. Johnson
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<br />husband and wife
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<br />(herein "Mort.gagor") and
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<br />Five Points Bank, Grand Island, Nebraska
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<br />(herein "Mort.gagee "),
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<br />Mortgagor is indebted t.o Mortgagee in t.he principal sum of $ 11.000.00 , evidenced by Mortgagor's note
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<br />dated January 23., 1988 (herein "Note") providing for payments of principal and interest, wit.h the balance of the
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<br />indebtedness, if not sooner paid, due and payable on January 23, 1998
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<br />To secure the payment of the Note, with interest as provided t.herein, 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, l\Iortgagor dOes hereby mortgage and convey to Mortgagee the following described
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<br />p~rty located in Hall County, Nebraska:
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<br />The Southerly Fifty . wo (52) Feet of that certain full Lot comprised of the following
<br />described tract of ground: Fractional Lot Four (tl) in Fractional Block Forty Nine (49)
<br />in Russel Wheeler's Addition, and its complement, to-wit: Fractional Lot Four (4) in
<br />Fractional Block Six (6) in Gilbert's Addition, both being Additions to the City of
<br />Grand Island, Nebraska
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<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easl'ments, rights, privill'ges and
<br />appurtenances located thereon or jn anywise pertaining thereto, and the rents issues and profits, reversions and remainders
<br />thereof; including, but not limited to, hl'ating and cooling equipment and such personal propl'rty that is aUarhed to the
<br />improveml'nts so as to constitute a fixture; all of whirh, including replacemenL.. and additions thl'reto, is hereby declared
<br />to be a part of the real estate secured by the lil'n of this Mortgage and all of the fol't'going bl'ing referred to herein as the
<br />"Property".
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<br />Mortgagor further convenants and agl't'es. with Mortgagee, as follows:
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<br />1. Payment. To pay the indebtedness and the intt'l't'~t thl'reon as prO\'ided in this Mortgage and tht' Nott',
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<br />2, Title. Mortgagor is the owner of the Propl'rty, has thl' right and authority to mortgagt' the Propl'rty, and
<br />warrants that the lien created hel't'by is a first and prior lil'n on tht' Property. eXl"t'pl as may olht'n\'isl' Ix> set forth herein.
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<br />o The Property is subject toa Mortgage wherein ____~__~__________
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<br />is the Mortgagee, reco;ded at Book ,Pagt' _~__ of thl' Mortgagl' Rl'Cords of
<br />Nebraska, which Mortgage is a lien prior to tht' lipn preated Ill'n'hy.
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<br />County,
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<br />o Other prior liens or encumbranCl's: ____.._ _ __ _ _ ..___ __._,.__ __. _____.~
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<br />3. Taxes, Assessments, To pay when dul' all taxl'S, spl'l'ial as.ws...ml'nts and all othl'r t'hargl's against the Property
<br />and, upon wriUen demand by Mortgagee, to add 10 Ihl' paynll'nls requil't'd under tht' Nott' St'cured hereby, such amount as
<br />may be sufficient to l'nable the Mortgagee to pay sUt'h taxl's. lISSl'SSmenLs or othl'r t'hargt's as thl'Y Ix>come dul',
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<br />4, Insurance. To keep thl' impro\'l'ml'nts now or hl'n>aftt'r lot'atl'd on the n'a\ l'stall' dest'ribed herein insun>d
<br />against damage by fire and such other hazards as Mortgagl'e may requirl', in amounts and with t'ompani€'s at'('(>ptabl€' 10 till'
<br />Mortgagee, and with loss payabll' to thl' Mortgagel'. In I'as€' of loss ulldl'r Slll'h polidl'S thl' Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion. al\ claims thl'reundl'r at its sole option, authorized 10 €'ither apply the
<br />proceeds to the restoration of the Property or upon the indl'btl'dnl'ss secun>d hl'reby, but payments hl'reunder shall con.
<br />tinue unlilthe sums St'cured hereby an> paid in full,
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<br />5. 0 Escrow For Taxes and Insurance. Notwithslanding anything l'Ontained in paragraphs 3 and -I hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at thl' time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurancl' 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 Mortgagl'e. The amounts so paid shall lx'
<br />held by thl' Mortgagee without interest and applied to the payment of the it€'ms 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 shall pay to Morlgagee the amount of any deficiency between the aclual taxes, assessments, insurance
<br />premiums and ground rents and the deposits li,'reundef within 10 days after demand is made upon Mortgagor requesting
<br />payment then'of.
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<br />6. Repair, Maintenance and USt'. To prompily repair, n>slore or rebuild any buildings or improvl'll1l'nts now or
<br />l1l.'reaftl'r on the Property; to krep the Property in good condition and repair, without waSil', and frl'e frolll Illrchank's or
<br />other liens nol rxpressly subordinated to the lien hereof; not to make, suffl'r or permit any nuisanl'e 10 l'XiSI, nor III l!imin.
<br />ish or impair Ihe valUl' of the Properly hy allY act or omission 10 acl; and to I'omply with all n'quirenll'nt.s of law \\ it h
<br />rl'spect to till' Properly,
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