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<br />MORTGAGE
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<br />88=
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<br />101236
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<br />This Mortgage is entered into between
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<br />Don E. and Donna S. Wernke, Husband and Wife
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<br />(herein "Mortgagor") and
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<br />Five Points Bank
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<br />(herein "Mortgagee ").
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<br />dated
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<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 2, 500 , 00
<br />March 4, 1988
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<br />, evidenced by Mortgagor's note
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<br />(herein "Note") providing for payments of principal and interest, with the balance of the
<br />March 15, 1991
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<br />indebtedness, if not sooner paid, due and payable on
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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 protei:t the security of this 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 />Hall
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<br />property 101'..ated in
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<br />County, Nebraska:
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<br />East 68.55 Feet of Lot 7, in Block 7, in Hann's Third Addition
<br />to the City of Grand Island, Hall County, Nebraska
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<br />Together with all buildings, improvements. fixtures, streets, alleys, passageways, easements, rights. privil~ges 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, 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".
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<br />Mortgagor further convenants and agrees, with Mortgagee, as foHows:
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<br />1. Payment. To pay the indebtedness and the interest thereon as provided in litis 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 />warrants that the lien created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein.
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<br />o The Property is subject to a Mortgage wherein
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<br />is the Mortgagee, recorded at Book , Page of thp Mortgage Records oC
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
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<br />o Other prior liens or encumbrances:
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<br />County,
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<br />3, TUe5, Assessments. To pay when dup all taxes, spedal 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 />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 hereafter located on the real estate described herein Insured
<br />agalnst 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 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, authotized to eitherapply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue until the sums secured hereby are paid in Cull.
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<br />S, 0 Escrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly Installments of principal and Interest,
<br />one-twelfth of the yeuly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attaln a
<br />priority over this Mortgage, all as 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 amounts were
<br />deposited. 'l'he sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground 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 UWl, To promptly repair, restore or rebuild any buildings or Improvements now or
<br />hereafter on the Property; to keep the Property In good condition and repair, without wute, and fre.. from mechanic's or
<br />othllrl!!lns not expressly subordinated to the lien hereof; 1I0t to make, suffer or permit any nuisance to exist, nor to dimin-
<br />Ish or Impair the value of the Property by any act or omission to act; and to comply with all requirements of law with
<br />respect to thp Property,
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