|
<br />MORTGAGE
<br />
<br />88-
<br />
<br />101151
<br />
<br />This Mortgage is entered into between
<br />husband and wife
<br />
<br />LeRoy G _ CotA ann lo~erhinf'! K _ Cote.
<br />
<br />(herein "Mortgagor") and
<br />
<br />Five PoiritsBank, Grand Island, Nebraska (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 20 000 - 00 ,evidenced by Mortgagor's note
<br />
<br />dated Marr.h R. 1 qRR
<br />
<br />(herein "Note") providing for payments of principal and interest, with the balance of the
<br />
<br />indebtedness, ifnot sooner paid, due and payable on September 6. 1988
<br />
<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 toprot;ect ihe security oUhis 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 />
<br />property located in
<br />
<br />Hall
<br />
<br />County, Nebraska:
<br />
<br />The East Twenty Five and Five Tenths (25.5) feet of Lot Six (6), and the West
<br />Twenty Three and Five Tenths (23.5) Feet of Lot Seven (7), in Buenavista
<br />Subdivision in the City of Grand Island, Hall County, Nebraska.
<br />
<br />Together with all buildinl!S, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and.
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents. issut's 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, including replacements and additions thereto, is hereby declared
<br />to be a 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 />
<br />
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />
<br />1. Payment. '1'0 pay the indebtedness anrl the intelt'st thereon as provided in this Mortgage and the Note.
<br />
<br />2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgar-e the Property, and
<br />warrants that the lien created hereby is a first and prior lien on the Property, l'xcept as may otherwise be set forth herein.
<br />
<br />o The Property is subject to a Mortgage whl'rein
<br />
<br />is tbe Mortgagee, recorded at Book , Page of thl' Morlgagl' Records of
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />
<br />o Other prior liens or encumbrances:
<br />
<br />C-ounty ,
<br />
<br />
<br />3. Taxes, Assessments. To pay when dul' all taxes, special assessments and all other charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments required under the Note secured hereby, such amount as
<br />IDay be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />
<br />4. Insurance. 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 loss payable to thi! Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust,. <;oUect and compromise, in Its discretion, all claims thereunder at its sole option, authoriZed to eitherapply the
<br />proceeds to the restoration of the Properly or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue .unti!. the sums secured hereby are paid in full. .
<br />
<br />5. 0 EoorowFor Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />cQntrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-hvelftbof the yearly taxes,assessments; hazard insurance premiums, and ground rents (if any) which may attain a
<br />pd9rity over. this Mortgage, alias 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 amouilts were
<br />~pOsited. .'The SUlnS paid to Mortgagee hereunder are pledged as additional security for the indebtednl'SS secured by this
<br />Mortgage. Mortgagorshalfpayto Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />p\1!miums and ground rents arid the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />. pilyment thereof.
<br />
<br />. '. .H 6. Repair, Maintenancll and Use. To promptly repair, It'store or rebuild any buildings or improvements now or
<br />he\'('sCter on the ~ropelty;tokeep the Property in good condition and repair, without waste, and free from mechanic's or
<br />otherlhms not expressiysubordlnaled to the Ilim 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 ad or omission to act; and to comply with alllt'quirements of law with
<br />respect to the l'foperty.
<br />
<br />,....-----
<br />
<br />i
<br />
<br />.,
<br />
<br />
<br />,~
<br />
<br />h
<br />
|