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<br />I
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<br />MORTGAGE
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<br />88--. 102036
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<br />This Mortgage Is entered into between Kenneth B. Knox and Marilvn M. Knox. husband and
<br />wife. jointly, each in his or her own right & as spouse of the other. (herein "Mortgagor") and
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<br />First Security Bank of Holdrege. Nebraska
<br />Mortgagor is indebted to Mortgagee In the principal sum of $ 75.000.00
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<br />(herein "Mortgagee ").
<br />, evidenced by Mortgagor's note
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<br />dated May 1. 1985
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<br />(herein "Note") providing for payments of principal and interest, with the balance of the
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<br />indebtedness, irnot sooner paid, due and payable on June 24, 1988
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<br />r~~~~t[~y. .' . .' Note, with interest as provided therein, the payment of all other sums, with intcrest,
<br />advlncec:i:hy MUttg/lg~ '~'P~Qt#Ct' e security of this Mortgage, and the performance of the covenants and agreements of
<br />the 'Mol1gBgc#::l:~~~~1!:~~ herein, ortgagor 'does hereby mortgage and convey to Mortgagee the following described
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<br />property located in Hall County, Nebraska:
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<br />Lot Two (2), Capital Heights, 5th Subdivision, in the City of
<br />Grand Island, Hall County. Nebraska.
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<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privilegE'S and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents. issues and profits, reversions and remainders
<br />\hereor; including. but not limited to, heating and cooling equipment and such personal property that is allaclll'd 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 esl.ll.te 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 follows:
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<br />1. Pa~;1Ilent. To pay the indebtedness and the interest thereon as provided in this Mortgage and ("I' Note.
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<br />2. Tille. Mortg~gor is the owner of the Property, has the right and authority to mortgagl' 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 the Mortgage Records of
<br />Nebraska. whieb Mortgage is a lien prior to the lien created hereby.
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<br />County,
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<br />o Other prior liens or encumbrances:
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<br />3. Taxes, As8es&IDents. To pay when due all taxes, special assessments and all other charges agt.instthe 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 suffielent 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 />apinst damage,by fire and such other hazards as Mortgagee may require, in amounts and with companiE's acceptable to the
<br />Mortgagee. and with I()S.<; 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, authorized to either apply the
<br />prOceeds to the restoration or the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />'Untie' until the Slllbl secured here~y are paid in full.
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<br />, ,5. 0 E8eJ0w For Taxes and Insurance. Notwithstanding anything contained In paragraphs 3 and 4 hereof to the
<br />. coDUuy"Morlialor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yeally taxl'S, assessments, hazard insurance premiums, and ground renls (if any) which may attain a
<br />priority over this Mortgage. all as reasonabl~' estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortpaeewithout interest and applied to the payment or the Items In respect lo which such amounts wert!
<br />depcMllted. The IUms paid to"Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Monp,e. Mortworshall pay to fdorti:agee 'the amount of any deficiency between the actual taxes, asst'ssments, insurance
<br />premium. and plund renu'aridthe deposits hereunder within 10 days after demand Is made upon Mortgagor requesting
<br />payment thereor.
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<br />.. Repair, MalntenaJIce and Use. To prompUy repair, restore or rebuild any buildings or impro\'t!munL~ now or
<br />herear~r on the Property; to keep the Property in "ood condition and repair. without wast.... and free from mechanic's or
<br />otherliena not ellpteuly ,ubordin.~d to the Hen hewor: not to make, suffer or permit any nuisancelo t'xlsl, nor 10 climin.
<br />Wi or Impair U.e value of the Property by any act or omission to act: and to comply with all f('qulrt'lI1lmts of IlIw with
<br />~ct to tbe, Property.
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