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<br />88- 103407
<br />
<br />MORTGAGE
<br />
<br />'lbIsMortgagelsenteredintobetween Russell L. Davis and Cynthia H. Davis,
<br />HUsband & W~fe {herein "Mortgagor") and
<br />
<br />Five Point" 3aak
<br />
<br />(herein "Mortgagee").
<br />
<br />Mortlagor Is Indebted to Mortpgee In the principal sum of $ 70, 990 , evidenced by Mortgagor's note
<br />dated 6/9/88 (herein "Note") providing for payments of principal and Interest, with the balance of the
<br />indebtedness, If not sooner p.ld, due and payable on
<br />. . .
<br />'" TO seCWll the paylDent ot the Note, with Interest 8lI provided therein, the payment ot aU other sums, with Interest.
<br />ad"!"'C9d.bY ~rtPltIl to. protect the security of this Mortgage, and the perfonnance of the covenants IIId IJl"MeIlts of
<br />the Moittilor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following deseribed
<br />
<br />property located In Hall County, Nebraska:
<br />
<br />Lot Number One and Fractional Lot Number Two in Block Number One Hundred
<br />and Twenty-Four (124) of Koenig & Wiebe's Addition to the City of Grand
<br />Island, Hall County, Nebraska: Also a Part of Lot Number Sixteen of the
<br />County SUb-Division of the Southeast Quarter (SE~) of the Southwest
<br />Quarter (5W\) of Section Number Sixteen, in Township Number Eleven, North
<br />of Range Nine West Described as follows: Commencing at the Westerly End
<br />of the Northerly Line of Said Fractional Lot Two in Block One Hundred
<br />Twenty-Four (124) of Koenig & Wiebe's Addition to Grand Island, Running
<br />Thence Westerly on a Straight Line, which is a prolongation (Without
<br />Change of Course) of Said Northerly Line of Said Fractional Lot Two for a
<br />Distance of Pifty-Four (54) Feet, Thence Turning a Right Angle and Running
<br />Southerly and Parallel with the Easterly Line of Said Fractional Lot Two
<br />(2) to the Northerly End of the Line Between Said Fractional Lot Two and
<br />Practional Lot Three of Said Block One Hundred Twenty-Pour (124) and
<br />Running Thence North on the Line Between Said Lot Sixteen and Said
<br />Practional Lot Two to the Place of Beginning_
<br />Totather with all bulld1np, improvemen", fixwl'II. Itree.., aIley..lJII1oIIewa,.. ~ts, ri...... pririlfps ..
<br />appurtnueelloeated lbel'l!Oll or Inlll)'1riIe pertalainl theftto. ancl &be mlts. blues and pronl:l, ~ IIId ntIIIIiDdID
<br />lbereaf; IDdIldlalo but not Umlted to. b..Un. and cooIla. l'qulpmenlllld IUcll Pl'-.I propl'rty dlat is au..:bHIlo die
<br />tmprclftlDillll:110 a 10 eoadltale a nxture; all of wblch, 1nc:ludillJ repdcemen" IIId additions thereto. Is hereby declared
<br />to be a put of the real .tale II'CUI'Ild by the lien of thil Mortcqe IIId all of the foreaoln& beiaI referred to hereiIlalbe
<br />"Property".
<br />
<br />~ flIrd1er C'Jnwenlllts IIId ..-. with Mo......., _ follo_:
<br />
<br />1. Payment. To pay the Indebtedneu IIId the illtered thereon a proridPd In this MorICtIe and the NoW.
<br />
<br />2. Tille, MortpJor Islbe OWIIlr or lbl' Property. has the riJbtllld authority to IIIOrtpJe tbl' PftIperty."
<br />wunull tha& the litn crea\ed hereby Is a nnt and prior lien on thl' Properly. n~t u may otbenrisl' be lit rortll benaL
<br />
<br />rl1be Property Is lubject to I Morlpp whl'reln, Home Pedera 1 Sa v i ngs & Loan
<br />
<br />.. the MoItpaee, I'ftlOIded 1& Book , I'qt or tht' Mortpp ftKordI or CouIlty,
<br />Nebalb. wbIdI Mortpp III a lien prior to lbl' litn c:reated hereby.
<br />
<br />o OdIer prior lIeM or encumbranct'l:
<br />
<br />3. T..... 14 -.ta. To pay whl'n dul' alllalln,lpl'daI _mfll..1IId all other dwpI apIIIIl tbE I'nIpertJ
<br />and, upon wlttten de_d by MortpgH, to add to thl' payments required unur tb. Note _ured bfftby. IUdllIIIlOUDt_
<br />may be IUrftdent to enable the Mortppe to pay lucb taxes, _men.. or other ebarlts- they beeolM due.
<br />
<br />.e. 1DIlIrIDclt. To kHp the Impronmrllu ,now or hrre.Cler localt'd on thl' relll!ltate delnibl'd Mn+ln illlUI'M
<br />apiIIIt damIp by tire IIId IUch othrr hazardl u MortJlIf't' m.y I'l!quil'l!. In Imounts .nd wILh eompaniruc:ct'plablt' to thr
<br />Mortppe, and w1lb 1_ payable to thr MortpIee, In case or Iou undrr lueh policll!l thr MortcaIM II autborillld to
<br />Idjull, edIed and mmpromlle, In ill dllcretlOa. all dalm& U1ereundtr It III .ok opUon. IIIUloriRdtoelMnpply tile
<br />proeHda 10 th. _lonDon ot the ProPl'rty or upon lb. indebtt4nfU aeeuNd hl'reby. but paymentl MNunder IIlID tlOIl,
<br />Un... wUl tbt IUIlllIt'CUM hrl'l!by 1ft! paid In tull,
<br />
<br />I. 0 &crow For Tau. and IllIUrlDc:e. Notwithstanding anylblnl contalnrd in parqraphs 3 IIId .. hereof to the
<br />l'OIIlrII)', Mortpp lIhall ..y to the Mortppe It the Ume or paying !hr monthly inltallmrnll or princlp.!and Intnell.,
<br />OIIt'.twtlRtl or tbe yltllty aull, -..ments. huud InlUIIIICll pNmlunu, and IfOUnd renll (lr Iny) which mly IUaln I
<br />pIt..ty OM' tills Mortpp, all as I'l!IIOnably fltlmated from time to tlm. by the MortgqH. 'lbe Imoun" 10 paid 1IIa11 be
<br />INId by UIll MortfIIIM wlUlout Intel'flt IDd Ipplitcl to the plymrnl or th. itenu in respee& to whlcb lucb amounts ..,.
<br />depoIIwd, TII. MImi paid to Mortppe hereunder an pl,dlJfd . addlUonal IfClIrily ror thr Ind,btedn_lfC\lred by &hll
<br />~. MontIIot lIhaII JIIIY to MortlllJltllbe amount or any denc:l,ncy brtween tht' ,cluallalln, --.men", Insurancr
<br />JlRmhihll IIId pound renl.n and th" deposllll hereundl'r wt&hln tOday. Ifter demand II made upon Mol'tJllor reqllftUnl
<br />PIlYIIMJDt Ual~f,
<br />
<br />I. ...,." MaIn"'IU", IDd UIe. 1'0 promptly ....p.tr. rt'1101'P or rebuild any bulldlnlS or Impro~menb now or
<br />hcor..flrr on the 'roptrty: 10 kffP th, Propfrty In lood condition and rt'p.llr, without wlIIl@,and tn'f' rrom mf'Chanl("s or
<br />other ,.... not ".prNa!y .ubordln.Wd to lbt' Urn herl'of; nollo makr, luffrr or pfnnlt .ny nulllnet> to t'llllt, nor 10 dlmln-
<br />IiIh m Impair llMt yallN' or lb. Propl'rty by any .ct or omlMlon to .cl; .lId to com pi)' with a111'tlqulnoml'nll or I... wllh
<br />Il'IPf<'l 10 I", Prll\M'rty.
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