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<br />MORTGAGE
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<br />88- 102542
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<br />This Mortgage Is entered Into between
<br />Wife as Joint Tenants
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<br />Larry E. Hoes and Ro;eanne Hoes, Husband and
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<br />FIVE POINTS BANK
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<br />(herein "Mortgagor") and
<br />(herein "Mortaagee "),
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<br />Mortgagor is Indebted to M6rtgagee 4a'the principal sum of $ 5,000 00 , evidenced by Mortgagor's note
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<br />dated 5/9/88 (herein "Note") providing for payments of principal and Interest, with the balance of the
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<br />indebtedness, If not sooner paid, due and payable on June 12, 1992
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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 />advaneed by Mortgagee to protect the security of tills Mortgage, and the performance of the covenants and agreements of
<br />the Mortgagor' contained 'herein, Mortgaior does hereby mortgage and convey to Mortgagee the following described
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<br />property located In Hi'll 1 County, Nebraska:
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<br />Lot Eleven (11) in Block Eleven (11), except the \'Ies L 16.33 reet thereof and the
<br />Westerly part of Lot Ten (10) in Block Eleven (11) described as beginning at the
<br />Northwest corner of said Lot Ten (10) and running Soulherly along and upon the
<br />Westerly line of said Lot Ten (lb) to the Southwest corner of said Lot Ten (lO),
<br />thence Easterly along and upon the Southerly 11ne of said Lot Ten {10} a distance
<br />of 45 feet, thence runn~ng Northerly a distance of 103,3 feet to the Northerly
<br />line of said Lot Ten (10) to a point which is 37.67 feet West of the Northwest
<br />corner of said Lot Ten (10), thence Westerly along and upon the Northerly line of
<br />said Lot Ten (10) a distance of 37.67 feet to the Northwest corner of said Lot
<br />Ten (lO), the point of beginning all in Block Eleven (11) in Parkhill Third Sub-
<br />division, an addition to the City of Grand Island, Hall County, Nebraska.
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<br />Together with all huildinll5, Improvements, fixtures, streew, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or In anywise p!!rtainlnll thereto, and the rents, issues and profits, reversions and remainde1ll
<br />thereof; including, but nat 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 replacemenlll 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 rollows:
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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 or 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 />m The Property Is subject to a Mortgage wherein
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<br />is the Mortgagee, recorded at Book , Page of the Mortgage Records or
<br />Nebraska, which Mortgage Is alien prior to the lien created herehy.
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<br />o Other prior liens or encumbrances:
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<br />Hall
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<br />County,
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<br />3. Taxes, Allienments.. To pay when due all taxes, special assessments and all other charges against the Property
<br />md, upon written demand by Mortgagee, to add to the paymenu; required under the Note ~ured 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 />against damqe by fire and such otber hazards as Mortgagee may require, In amounts and with companies acceptable to the
<br />Mortpgee, and with loa payable to the Mortgagee, In case or Io&s under such policies the Mortgqee ,is authorized to
<br />adjust. coUect, , and eompromlu, in its dIscletlon, all claims thereuiuier at Its sole option, .'authOrized to either apply the
<br />proceeds to the resloration of the Property or upon the indebtedne&S secured hereby, but payments hereunder shall con.
<br />tinue until the sUDluecured hereby are paid in full.
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<br />5, 0 Eacrow For '!'axes arid Insurance. Notwlthstandinll anything contained in paragraphs 3 and 4 hereor to the
<br />coli~;~ortpIlor shall pay to the MortP&eeat the time of paying the monthly installments of principal and Interest,
<br />one-ml~ of the yearly \Un, aneasmenla;bizard insurance premiuDlll, and ground rents (it any)whicll m"y attain a
<br />priOrity over this Mo~, all IS ~ason..b1y estimated rrom time to time by the Mortgagee. The amounts so paid shall be
<br />held by tMMortCagee without in~t and applied to the payment of the itelDS in respect to which such aDlounlll were
<br />deposited, The sums paid to 1io!ortPiee hereunder are pledged as additional security for the indehtedness ~ured by this
<br />Mortpce, Mortpgouball pay tOMOrtpgee the amount or any deficiency between the actual taxes, asseSllments, insurance
<br />prellllulDS and Jround rents and 'thedfposlLS hereunder within 10 days arter demand Is made upon Mortpgor requestlnll
<br />paymenllhereol'.
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<br />6. Repair, Malntenuceand VIII, To promptly repair, restore or rebuild any buildings or improvements now or
<br />herurli'r on the Property; to keep the Property In good condition and repair, without waste, and frel! from mechanic's or
<br />other lieM not expreuly subordinated to the lien hereof; nol to 1118b, surrer or pennit any nuiunce to elUsl, nor to dimin-
<br />i.J1 or Impair lJIe ~alUI> or the Property hy any act or omission to act; and to comply wilJl ftIl "'quiremenu of law \\;th
<br />rNprd 10 Ihe Propf'rty,
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