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<br />MORTGAGE
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<br />88_102280
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<br />'lbls Mortpplsentered Into between Dana Rave Reck
<br />Five Points Rank
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<br />(herein "Mortpgor") and
<br />(herein "Mortptee"),
<br />Mortgaror II Indebted to Mortaaaee In the principal sum of $ 500.00 ,evidenced by Mortpgor's note
<br />dated Ma v 4. 1988 (herein "Note") providing for payments of principal and Interest, wllh the balance of the
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<br />Indebtedness, It nol lOOIIer plld, due and payable on N ovembe r 1. 1989
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<br />, ,of-the Note, with IDteft-5t u provided therein, the payment of all other IUlDI, with Interest,
<br />~-~t 'the security of this Mortglae, and the perfonnance of the covenanla and IpHDlenla of
<br />., ~~i!\b\; Mortgalor doel hereby mortpge and convey to Mortgagee the following described
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<br />property loca~'ln~"~'" Mal i County, Nebraska:
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<br />Lot One (1), in Block Four (4), in Gilbert's Addition
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<br />to the City of Grand Island, Hall Counti, Nebraska
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<br />Topther with all bulldlnp, Improvements, fixtures, Itreets, alleYl, passageways, ellll!ments, rights, privlleen and
<br />I!ppurtenllDcea located thereon or in anywise pertaining thereto, and the rents. issu~ and profill, revemlons and remaiDden
<br />thereof; Including, but not limited to, healing and cooling equipment snd such persona' property that II attached to the
<br />Improvements 10 u ta constitute I fixture; all of which, includinl repllcements and additionathereto. II bereby declared
<br />to be . put of the realea&ate leCured by the lien of this MOitpge and all of the foregoing belnlrefel'l'1!d to herein u the
<br />.. ProJltlrty".
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<br />Mortpcor furtber convenanla and agrees, with MortPJl!l!, as follows:
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<br />1. Payment. To pay the indebtednelll and the Interest thereon u provided in this Mortpae and the Note.
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<br />2. TIU.. Mortpfor II the owner of the Property, hu the right and authority to mortlaae the Property, and
<br />wanmla that the lien created hereby Is a fint and prior lien on the Property, except BS may otherwise be set forth herein.
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<br />kI 'lbe Property IIlubjed to I Mortpge wherein F i ve Po i n t s Ba n k
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<br />II the Mortpgee, reeorded at Book , Page of the Mortpl<' Records of
<br />Nebruka, whlL'h Mortpge Is a lien prior to the lien crelted herehy.
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<br />Hall
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<br />County,
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<br />o Other prior liens or encumbrances:
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<br />3. Tax., "-nIL To pay when due all taxes, special assessments and aU other charges apinst the Property
<br />and. upon written demand by Mortgager, to Idd to the payments required under the ;'lote secured hereby, IUch amount u
<br />may be lufficlent to enable the Mortptee to pay luch tuea, ISSeISments or other charges as they become due.
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<br />4. l-.nee. To kerp the Improvements now or hereafter located on the real es&ale described herein Insu~
<br />apllllt damqe by lire and luch other huards as Mortglgee may require, In amounla and wlLh companlelaccep&able to the
<br />Mortppe, and with 10lIl payable to the Mortgqee. In case of Iou under such policies the Mortcqee Is authorized to
<br />adjust, collect and compromise. In It. dlKreLlon, an cIalms thereunder at Its sole option, authorb:ed to elthltrapply the
<br />proceoJdJ to the restoration of the Propt:rty or upon the Indebtedness secured hereby. but paymenlll hel11l1nder shall con-
<br />L1nue unUl thlllUlDlllleCU1ed hereby are paid in full.
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<br />5. 0 EIerow P.. Taes ud IDIIlranee. Notwlthltandlnl anythinl contained In parapapha 3 ud .. hereof to the
<br />conbuy, MortPIOf shaD pay to the Mortpget' at the time of paylogthe monthly InslaJlmenll of principal and Interest,
<br />OIlIl-twell'lh of the yeuty lues, ~ntl, hazard Il\I\IJaDee premiums, and lPOund I11nLB (If any) which mey at&alll .
<br />primly !mol' this Mortpll. all .. rIlllOubly eltlmated ham time to lime by the Mortpgee. 'lbe amounls so pald &hall be
<br />held by the Mort.... w1thOQ~ laterellt and applied to lbe payment of the ilt>ms in relped to which such amounts wem
<br />depclllted. 'lbe luma paid t~ MortPi" hereunder are pledged u adlliUonal security for the Indebtedness secured by this
<br />Mortpp. Moncalorlball PliY &0 Mortlagee th. amount of any dellclency betweltn thl> actual la.fl, _umenla, Insurance
<br />pnm!ullllllld cround renla and the depDllIa hereunder within 10 dayol aner demand I. mlde upon Mortpgor requesliofl
<br />payment thClreof.
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<br />.. RepalJ. Malntnaace and U.., To promptly repair, restore or rebuild any bulldlngD or Imp"'VItmenta \10.. or
<br />Ml1lIrter on the Property: to keep the ~rty tn ,oud condlUon and "'pair, without waste, and !'reo f1'Om mllChenlc's or
<br />other liens not ellpnl".l5ly lubordlnated ~o the lien heROf; not to malle, luffer or permit any nulqnet' to ex:loIt. nor to dlmln.
<br />lib or Impair tire ,1lIull of tha Property by any act or omlMlon to act; and to comply wlth all "'qulrcmenla of law with
<br />l'elpect to lJIe P'rop"'rty.
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