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<br />i)
<br />RE-RECOROED
<br />88-103088
<br />
<br />MORTGAGE
<br />
<br />88-
<br />
<br />102704
<br />
<br />ThIs Mortgage is entered Into between ~ Abundant Life Chn stJ nn Center r In". r A
<br />
<br />N~braska Corporation
<br />FlVe POlnts Bank~nd Island, NE
<br />
<br />(herein "Mortgagor") and
<br />
<br />_ (herein "Mort.gllJee YO).
<br />
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 160. 000 . 00 , evidenced by Mortgllior's note
<br />
<br />dated Mav 1. 198L-- (herein "Note") providing for p.ymeDts of principal and intelUL, with the balance of the
<br />
<br />Indebtednl!Sl<,lf not sooner p,id. due and pa:r::ble on May 1. 2003
<br />
<br />To llecure the payment of the Note, with interest lIS pro,ided therein, the payment of all other sums, with interest.
<br />cdvlIDced by Mortcqee to' protect the Sl!CUrity oUhis Mortgage, IIDd the perfonnance of the covenants IIDd agreements of
<br />the Mortpgor CQl!ltafned herein, MQrtpgor doou heretry mortgage and convey to Mortgagee the fonowing described
<br />
<br />property locall>d in flR] 1
<br />
<br />Covnty, Nebraska:
<br />
<br />See attached Exhlbit "A~
<br />
<br />Together with all bulldlngs, improvements, fIXtures, 3treets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereoro or in an,wise pertaininl thereto, and the rents, issues and prolits, reftDiioDll and remainders
<br />thereof; incIudinl, but not limited to, '1eating and oooIing equipment and su-;h pt'rsonlll property that is attached to the
<br />Improvements so lIS to coru;titute a fixtuiT; all of which. includinl replacements and additions thereto, is hereby decIan!d
<br />to be a part of the re&I estate secured by the lien of this Mortgage and all of the foreloing being referred to hl'rein as the
<br />"Property".
<br />
<br />Mortpgor further convenants and apees. with Morteaget', ..s follows:
<br />
<br />1, Payment. To pay the indebtedness and the inll>rest thereon lIS provided in this Mortgage and the Note.
<br />
<br />2. Title. MOrtgBIOl is thE' owner of the Property, has thE' right and Iluthority to morteap the Property, and
<br />wananl5 that the lien created hereby is a first and prior lien on the I'roperl)'. except as may otherwl!;e be set forth herein.
<br />
<br />~ The Property is subject to a MurtlBl" whereill Fl v.. P()l n1" Ri'lnk
<br />Docume~t #88-101055 & 87-105006
<br />is the Mortgagee, recorded at BGrc*<x ~~" of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby,
<br />
<br />Hall
<br />
<br />CoUDty.
<br />
<br />o Other prior liens or eneumbranr.es: WONE
<br />
<br />3. Tues, AiIlelimJents, To pay when due a.lJ taxes, spreil!ll asses.~ments and all other charges against the Property
<br />and, upon written demand by Mortgag'l!t', to ;ldd to the payments required under the Note secured hereby. such amount as
<br />may be mfl'icit"nt Ie enable the Mortgagee to pay such taxes, assessmentJ; or other charges as they beCOrllt" due,
<br />
<br />4" IlIIIfl'IIIIce. To keep the improvements now or berelll'ter located on the real estall> described herein insured
<br />apIDl1t damqe by finJ an~ such other hazards as Mortpgee may require, in amounts and with compani..s accpptable to the
<br />Mortpgee. and with loss payable to the Mortgagee. 1D c:ase of loss under such policies the Mortgagee is authorizeod to
<br />adjult. eoUect and compromise. in its discnltion, all cIaims thereunder at its sole option, authorized to either apply the
<br />proooeda to the restoration of the Property OT upon the Indebtedneu secured heeby, but payments hrreunder shall COIl.
<br />Cooe until the SUIlD S2eUI'l!d hereby sre paid in full.
<br />
<br />ft. 0 Eacrow For Toes and Insurance, Notwithstluldlng any thine contained in paragraphs 3 and 4 h..reof to the
<br />contmy, Mortpgor Ilha1I pay to the Mo~ at the Ume of paying the monthly Installraent.~ of principal and Interest.
<br />onMwelfth of the yearly tllXes, assessments, hazl.rd Insurance pre~ums. and ground rents (if any) which may attain 8
<br />priority over this Mortp,It', aU IIlI f'l!lISon~y estimated from Ume u- time by the MOfi.laeee. The amounts so paid &hall be
<br />held by the MGrtpJee without interest and applied to the- par:nent of the ill>ms In respect to which such emounbi Wef'l!
<br />dPposit.ed. The SUDlJ paid to Martpl"t' be~under ere pll>dged I!l additional security for the indebtedness lIPcurod b~' this
<br />Mortgage, Mortlllt!!or llhall pay to MortPBt'e the amount of any denclenty betwet'n the IICtuallaXes, I15St'ssments, Insuf1UlCl'
<br />premiums and grounlS renll; BlId the deposits berounder within 10 daY5 afll>r demand I. made upon MoI'qagor fl'questine
<br />paym..nt thereot.
<br />
<br />6. Rt'palr, MalnteDMU:G and UBIl. To promplly repair, reslon- or rebuild any hulldlnp or Impro\'I'ments no..' or
<br />hcrroafler on tht' Pluperty; to kl:<op the Propt'rty In good condition aod repair, without waJ;It'. and ft\.I' !'rom m..chantr'. or
<br />other Uem nat n(1i'euly ~ubordlnalt'd to the Iirn hl'ltlOf; nollo mab. suffer or permllan}' nulunCl' to .,..Ist, nor to dlmln.
<br />lr.b or Impair the v&lur of thl' f'roj"l(lrty by any acl or omhillion to act; Rlld In I'ompl~' with all "'qull'l'lDI'nt< of 11\\' ,,'lIh
<br />rnp>!('t !O th(' PropHty.
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