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<br />Hullman and Fellon & Woll, Wallo", Ne. 68461
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<br />REAL PROPERTY MORTGAGE
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<br />88- 10290-:'
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<br />Open.end, to secure prellent and future ohligations and advances
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<br />herein called the "Mortgagor" whether one or more, in consideration oCthe advance of the principal sum recited in the
<br />note hereinafter described and in consideration of any future advances made by Mortgagee to Mortgagor BS
<br />hereinafter provided, hereby mortgnges and conveys to
<br />BANK OF WOOD RIVER, WOOD RIVER, NE.
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<br />herein called the "Mortgugoo", the following described real estate together with all the right, title and interest
<br />of the Mortgagor therein or hereafter ncquired includinl{ 011 buildinRll nnd improvemenla nowon or hereafter placed
<br />on snch real estate:
<br />Lot 13, Regency By Tl~ Green subdivision, ~n Addition to the City
<br />of Grand Island, Hall County, Nebraska
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<br />This mortgAge is given to lleCure:
<br />
<br />A, Promi88ory note dated 5 - 20- 88 given by Mortgagor to Mortgagee in the principal sum of
<br />$ 3 50 . 000 .payable with Interellt according to the termJ!l ohuch note and any inlltrument taken in connection with
<br />refinandOll. extendlnll' or reo_iOll the indebtednells evidenced by 8uch note or any pnrt thereof;
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<br />B. Any future ndvan~8), with intcre8t, whicll may be made from time to time by Morlflageeatilauption in any
<br />wnount(s), provided, however, 6uch future advancl!IIllhnll be 80 limited that the total principal wnounte outetanding
<br />at anyone time shall not ellceed the sum of $ 3 50 , 000 dollars, to be repaid in accordance with the tennll ofa
<br />promllllory note(s) evidencing any such ()dvan~s), Any Iluch ndvancl!(s) 8hall be additional to any advance(s)
<br />~einafler authorized to be mnde by MortgBgl.'C for the I1mlcclion of the security or MortgaRBe'lI int.erellt therein.
<br />l', .,
<br />Mort(Jagor hettlby covenanlll with Mortgagcc and ila8uccellsorll nnd ollllilJlls that Morgagor i81awfully lIeised of
<br />BUch real Mtat.e and is the fee owner thereof, that Mortgagor has Rood righ t and lawful authority to convey the same,
<br />that Mortcqor hereby ~linqui8hllll 011 rights of homestead therein, and that MortRallorwarranlll and will defend the
<br />title to IUch reel B8tste against the lawful claims of all pel'llOIUl whomsoever. Additionally, Mortgagor covenants and
<br />ftI1'1!l!8 with Mortgagee all follow8:
<br />
<br />1, Mortgagor shall pay all taxCII and Il8Illlllllmenla in respect of or levied upon such real estate before the same
<br />become de1iquent Bnd lIhall pay when due any lien or judgment on such real estate.
<br />
<br />2. Mortgagor IIhan procure and maintain lire, windlltonn and extended coverage insurance on all buildingll or
<br />other improvemenlll now on or hereafter placed upon such real estate In an omount satisfactory to MortgnaBe, such
<br />inllurance to hove a mortgage clnuBe, 1088 thereunder to be payable to Mortgagee as its interellt may appear.
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<br />3. Mortgagor lIhall not commit nor pennit any waste on such real estate, shall keep 011 buildings and
<br />improvements in good repair and sh!lll not impair or pennit the impainnent of Mortgagee'llllecurity in ony way.
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<br />4. Mortgagor hereby alllligns to Mortgagee all rents in connection with such real estate.
<br />In the event Mortgagor foils to pay lluch talles and assesllmenls or foils to procure !luch insurance or foils to
<br />C8\1Jle the removal of any lien on 8uch reol estate, Mortgagee may at ilB option pay Iluch taxes and allllessmenla or
<br />procure 8uch IDllUrance or pay on wnount necessary to 8auIlfy such Hen, and 011 ronounte advanced therefore IlhBIl
<br />become a part of the indebtednellllsccured ~reby. shall be due and payable immedintely nnd Ilhall bear interest aUhe
<br />muimwn rate allowed by the laws of the State of Nebraska at the time of such IldVBncement.
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<br />In the event Mortgag01' defaulla (a) in the payment when due of such principal sum or any installment thereof
<br />or any intenltt thereon. (b) in the repayment when due of any advaces made as provided herein or any Interest
<br />thereon. or (c) with rNped to any covenant or condition contained In thlll morlflollc, Mortgagee may. at ila option
<br />without notice and a' any time durinII' the continuance of Bueh default, declare theentlro Indebtednellllsecured by thiB
<br />mort(Jap to be immediately due and payable with Interellt at the ml1llimum rate then allowed by Nebraska lAW and
<br />may IrnmedlateJy forecloM thlll mortptl'e or punlUc any other available leKnl remedy, In the event of any action by
<br />.Mortcaaee to mforce collection of indebtednelllllleCllred hereby, MorlRagor IlRrt>e1l thnt any ex penile incurred III
<br />oonnec:tion 1herewlth includin" COBia and rl!a80nable attorney fooJII JIIhnll heroml' 0 port oCthe indehtednl'Rlll!t'l'urrd by
<br />this mort,all!.
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<br />In the evenl"f any default l!I11t forth in tht" fllret/oinK pnFlljfroph, MortjfnllCl' shnll hI' ,'OliUl'd to 11ll1111'rlinlr
<br />Jlllllllelllrion of IUln mul ClItal.tl and olllh!! rentll. revenul' nnd Inmml' r1erivN\ thl'refmm dnrinll '''Il'h lirnl' OR Ih"
<br />Indel>U!ollnntllllt'curf'd h..rnhy remRillllllnllnirl Hhnll h.. nJIJllh.r1 It}' the Mnrtllllll''t'tn Ih.. JlllV1I1ent of "1I,'h il"I..hh.,h".,,"
<br />inr:hlflinH 11111<111111... r1""lIwd to he 1\ pnrt U,rr"..f n" fIl'l f"rlh hen'innlt",.,.
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