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<br />MORTGAGE
<br />
<br />88-
<br />
<br />102704
<br />
<br />'This Mortgage is entered Inw between The Abundant Lj fe Chd st i fln CAnter. Tn". r A
<br />
<br />Nebraska Corporation
<br />,Five ~oints Bank, Grand Island, NE
<br />
<br />(herein "Mortgagor")and
<br />(herein "Mortgagee").
<br />
<br />,,~cirt~!l~or ~ ~dl:b~d ,tQMllrtgagee in the principal sum of $ 16'0. 000 . 00 , evidenced by Mortgagor's note
<br />
<br />dated Ma'v 1...19,8,8.., . ',:qier:ein "Note") providing for paymentsofprincipal.lIIi(\ interest, with the ba!lince of the
<br />
<br />"indebtedness, if not soQn~r))~id.. due and payable on May 1. 2003
<br />
<br />. .ToseC~!l!~l!.~i,~~~t~f the Note, :vith inte;est as provided therein, thel'ayment of all o~er swDs,with interest,
<br />advanced. by Mort~e ,to .p~teCt ,the secunty. of thIS Mortgage, and.the performance of the .covenants and agreements of
<br />'th!! Morigagorb;ntained'li~i~;Morigagor does hereby mortgage and convey to Mortgigee the following deSCliblid
<br />
<br />property 'located 'in Hioi 11'
<br />
<br />County, Nebraska:
<br />
<br />See attached Exhibit "A"
<br />
<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, reveISions and remainders
<br />thereof; in'cludlng, but not limited to, heating and cooling equipment and such pelSOnal property that is attachea 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 (l'art <:if the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"Plopelty".
<br />
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />
<br />1. Payment. To pay the indehtedness and the interest thereon as provided in this Mortgage and the Note.
<br />
<br />2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and
<br />warrants thlit the lien created hereby is a filSt and prior lien on the Property, except as may otherwise be set forth herein.
<br />
<br />IE The Property is subject to a Mortgage wherein Fi ve Point!'; Rflnk
<br />Document #88-101055 & 87-105006
<br />is the Mortgagee, recorded at BlJaIiI><x ~11..'l( of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />
<br />Hall
<br />
<br />County,
<br />
<br />. 0 .Dther prior liens or encumbrances: NONE
<br />
<br />3. Taxes, Asliessments. To pay when due all taxes, special assessments and all other charges against the Property
<br />and, upon written demllDd by Mortgagee, to add to the payments required under the Note secured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such taxes, 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 rue and,such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />MortPlee, and with loss payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, &1 claims thereunder at its sole option, authorized to either apply the
<br />proceedito. the restoration of the Property or upon the Indebtedness secured hereby, but payments hereunder shall con-
<br />tinue until the sums secured hereby are paid in full.
<br />
<br />6. 0 ElCrOw For'TUes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Marteagor Shzll Pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (If any) which may attain a
<br />priority over tbia Mortpllt!, aU as. reasonably estimated from time to time by the Mortgagee, The amounts so paid shall be
<br />held by the MortgareeWltbout iJlterest and applied to the payment of the items in respect to which such amounts were
<br />dePosited. 'Ille sums paid to Mortgagee hereunder are pledged llS addltlonal security for the indebtedness secured by this
<br />Mortgage. Mortllllorshall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />
<br />6. Repair, MalntenllDce and Uae. To prompUy repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the ~perty; to keep the Property in good condition and repair, without wasle. and free from mechanic's or
<br />other UellS not expiiessly subordinawd to the lien hereof; not to make, suffer or permit any nuisance 10 exist, nor 10 dimin.
<br />ish or impair the value of the Property by any act or omissIon to act; and to comply with all requin.'menls of law "~th
<br />respect to lh"Ptoperty_
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