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<br />88-10186f7
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<br />MORTGAGE
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<br />This Mortgage Is entered Into between
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<br />James Paul Anderson
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<br />Five Points Bank
<br />
<br />(herein "Mortgagor") and .
<br />(herein "Mortgagee ").
<br />I evidenced by Mortgagor's note
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<br />Mortgagor Is Indebted to Mortgagee In the principal sum of $ 5, 000 . 00
<br />April 8, 1988
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<br />Lots 9 & 10, Block 5. in Boggs & Hill's Additi~n to the City
<br />of Grand Island, Hall County, Nebraska.
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<br />Together with all buildings, 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, heaOng and cooling equipment and such personal property that is attached to the
<br />impmvemenb 10 as to constitute a fixture; all oC which, including replacements and additions thereto, is hereby declared
<br />to be a put 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 />Mor.paor further convenants and agrees, with Mortgagee, as follows: .: i. ;.
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<br />1. Payment. To pay the indebtedness and thl! interest thereon as prollided 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 />wurants 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 />U'lbe Properflj is ~bject toaM~""l.ftwh.rrein Firat.,National Bank .of Grand Island,
<br />, S document 1tti4-G029:lS '. . . ,. " ". Han
<br />is the Mortpgee, recordecPiHRiiSk , Page of the Mortgage Records of County,
<br />Nebraska, which Mortgage Is aUen prior to the lien eluted hereby.
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<br />o Other prior liens or encumbranct'5:
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<br />3. Taxes, Aileslments. To pay when dut' all taxes, special assessments and allotbd charges against the Property
<br />and. upon written demand by Mortca&ff. to add to the payments required under the Note secured hereby, such amount as
<br />may be iUfficient to enable the MortPJef' to pay such taxes, assessments or other charges as they become due.
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<br />4. IDIIIlaDce. To keep the improvements now or hereafter located on the real estate described herein Insured
<br />apinH dama&e by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortpeee, and with loss payable to the Mortpiee. In ase of loss under such policies the Mortgagee is authorized to
<br />adjust, eoUect and compromise, in its discretion, all clalms thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Property or upon the Indebtedness secured hereby, but payments hereunder shall con-
<br />tinue unW the sums secured hereby are paid in full.
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<br />5. 0 F.scrow For Tuft IDd Insuranc:e. Notwlthstandin,anythlna contained in paragraphs 3 and 4 hereof to the
<br />eoo&luy, IIortptor sIWl pay to the Mortpcee at the time or payln, the monthly installments of princlpal and Interest,
<br />one-twelfth of the yearly taxes, IS5e$IlDents, hazard Il1iuranc:e premiums, and pound rents (If any) which may attain a
<br />priority over this Mortpp, all as reasonably esOmated from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortpaee without intere&t and applied to the payment of the Items In respect to which such amounts were
<br />depoIitfll. The Sllml peid to Mort&qee hereunder are pledged .. additional security for the indebtedness secured by this
<br />Mortcqf. MortPlOuball pay to Mortpcee the amount oC any deficiency between the actual taxes, assessments, Insurance?
<br />pmniums and pound tents and the depolJta hereunder within 10 days ICter demand Is made upon Mortglgor requesting
<br />J18yment thereof.
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<br />I. Repair. MaiDleftaIIee aDd Vie. To promptly repair, restore or rebuild any buildings or Improvementa now or
<br />Nrufter 011 the Property; ;0 keep the Property in load condlUon and repair, without wate, and rree from mechanic's or
<br />other IIent not expnaly ,uoordine~d to the lien hereof; not to make, lulter or permit any nulunce to exist, nor to dlmln-
<br />lib or Impair the qlue of the Property by any Ict or omission to act; and to comply with all requlrementa of law with
<br />respf"ct to the Property.
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