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<br />MORTGAGE
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<br />88- 101284
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<br />I
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<br />This Mortgage is entered into between Edwin C. Sittler and Janice K. Sittler, Husband
<br />
<br />and Wife, as Joint Tenants with ~k~tof Survivorship and not as (herein "Mortgagor") and
<br />tenants in common
<br />
<br />FIVE POINTS BANK
<br />
<br />(herein "Mortgagee ").
<br />, evidenced by Mortgagor's note
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<br />Mortgagor is indebted to Mortgagee in the principal sum of $ R, ROO 00
<br />
<br />dated 3/14/88
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<br />(herein "Note") providing for payments of principal and interest, with the balance of the
<br />
<br />indebtedness, If not sooner paid, due and payable on
<br />
<br />3/14/95
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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 Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />
<br />Hall
<br />
<br />property located in
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<br />County, Nebraska:
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<br />Lot Nine (9) and Ten (10) of Block Nineteen (19) of Morrill's
<br />Addition to the City of Grand Island, Hall County, Nebraska
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<br />Together with all buildir.gs, 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, 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 />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 />warrants that the lien created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein.
<br />
<br />o The Property is subject to a Mortgage wherein
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<br />is the Mortgagee, recorded at Book __ , P!lge of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the lien ~reated hereby.
<br />
<br />County,
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<br />o Other prior liens or encumbrances:
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<br />3. Taxes, Assessments. To pay when due 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 />maybe sufficient to enable the Mortgagee to pay such taKes, 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 the Mortgagee. In caseof loss under such policies the Mortgagee isauthorized to
<br />Bdjust,collectl!lld compromise, in its discretion, all claims thereunder at its sole option, authorized to either apply the
<br />~d!; tl) the<restorationof 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 />5; 0 Escr~w .For Taxes andlnsurance. 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 th,eye.nY taxes, assessments, hazard lnsu,rancepremiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, alias' reasonably estimated from time to time by the Mortgagee, The amounts so paid shall be
<br />held by the Mortga~,witboutinterest and applied to the payment of the items in respect to which such amounts were
<br />deposited. The sums paid to Mortgagee hereunder are p1edged 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, assessmt'nts, 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 Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Propert.y; to keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />other liens not expressly subordinated to the lien 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 act or omission to act; and to comply with all noquirements of law with
<br />respect to the Property.
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