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<br />MORTGAGE
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<br />88-103482
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<br />'lbIs Mortgage inntered Into between' Gene A. Olsen and Florence A. Olsen.
<br />hu!;hanp ann wife. (herein "Mortgagor") and
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<br />Five Points -Bank. Grand Island. Nebraska
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<br />(herein "Mortgagee~').
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<br />r,fllrtgagor I. Indebted telMortgo:ge& In the principal sum 01$ 19 500.00 ,evidenced by Mortgagor's note
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<br />d!t;i!~,.'~ :!J~e'~ll . 19RR (herein dNote") providing for payments of princlpaiandhite~~;Withthe bll1l11\ce oUbe
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<br />Indeliiedii~iltiiirt lKiilner paid; d!!B arid payable on December 26 1988
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<br />To secure thepayiJient of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />~cj!d JlY Mortgagee toIlrotect the security of this Mortgage, and the perfonnanceof the covenants and agreements of.
<br />the Mortgagor con&ainedhereln, Mortgagor da;es hereby mortgage and convey tel Mortgagee the following desciibed
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<br />jJroperty located In Ha II County, Nebraska:
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<br />Lot Twenty-three {23}, Capital Heights Seventh Subdivision, City of Grand Island,
<br />Hall County, Nebraska.
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<br />Together with all buUdings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertllinln.ll thereto, and the rents, issues and profits, rev:ersloJl!l and remaindeJS
<br />thereof; including, but not limited to, heating and cooling equipment and such personal property that is attacbed to the
<br />Improvements so IIli to constitute a fIXture; all oC which, including repllcementa and additions thereto, Is hereby declllJ1!d
<br />to be I part of the real estate secured by the lien oC this Mortgage and all oC the Coregolng being reCened to herein as the
<br />"!.'roperty" .
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<br />MortlBior further convenanta and agrees, with Mortgagee, as CoIlows:
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<br />1. PaymeDt. To pay the indebtedness and tbe Interest thereon as provided In this Mortgage and the Note.
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<br />2. TItle. MortPlor i. the owner oC the Property, has the right and IUthOrity to mol'tlage the Property, and
<br />WIIrIIlts 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 />liThe Property is SUbject toa Mortgage wherein Equitable Building f. Lnan
<br />85 Doc. #85-004930
<br />Is the Mortppe, ntcorded .v--xXXXXX~.YXXYXX oC the Mortgage Records of Hall County,
<br />Nebrulra, which Morteal' .. a lien prior to the lien created hereby.
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<br />o Other prior liens or encumbrances:
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<br />3. Tuell, "--nta. To pay wben due all taxes, special assessments and all other chilies apinst the Property
<br />and, upon written demand by Mortpgee, to Idd to the payments required under the Note secured hereby, such amount as
<br />IU)' be sufll.c:Ient to enable the Mortgagee to pay such tues,lS&eS&menta or other charges as they become due.
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<br />t. Iilsuranee. To keep the Improvemenls now or berelfter located on the real estate described herein Insured
<br />ap\nIt damage by Ore'and such other hazards' IS MortlBiee IDlY require, In amounts and with companies acceptable to the
<br />Mortgqee, IDd with Iou payable to the Mortgllt!e. In case of loss under such polic:les the Mortgllee Is authorized to
<br />adjust, collect and cilmproJDlle.lnitsdlicIeUGiI, WI claImi th~::lundcr cl it:: :ole llptlC:l, authorized to 91thenp"y the
<br />proceeds to the re.teIratJon ot thll.Property or upon the fudebtedness secured hereby. but paymenlll bereunder shal1 con-
<br />tinue- until the IU.mB secUred b~by are ~~ in full. .' . .
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<br />5, 0 EIerow For TIUI and IlIIlInJIee. Notwlthstandinl anything contained in parapaphs 3 and 4 hereof to the
<br />contrary, Mcn1IIIor lIhall pay to the Mortppe at the time of paylnl the monthly Instllllmenls of principal and interest,
<br />one-twelftb ,01 the yeuly tues, lI&eISIIlenb, hazard Insurance premiums, and pound rents (If .any) which may Ittain a
<br />pli~ty over th~ M~, all 1& rellOlllbly estllDlled from time to time by the Mortgqee, The amounts 10 paid shill bt'
<br />beld,lly th. Mortp,ee Without Interest and applied tel the payment of the ItelDlln respect to whlch such Imounls werr
<br />.t.poIIted. The ~pud to Mortppe hentunder are pledpd II additional seeurily for the indehtedness secured by this
<br />Mortpae. Mortppslla1l pay to MortaaIH the amount or any deficiency between the ICtulllaxes, _wnents, InsullnCf>
<br />premiums and poundnmts and the depoa\ts hentunder within 10 dlys ICter dellWld is made upon Mortpeor requesUna
<br />pqment'thentof.
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<br />6. ~,Maintenance IDd V., To promptly ntpalr, restore or rebuild any bulldinlll or Improvementl now or
<br />hentlfttr on the Property: to keep tbe Property In lood condition and ft!palr, without wlSte, Ind free from machlnk's or
<br />otherUtns not txpreuly subordinated to th.lltn hen>of: not to mak., suffer or permit Iny nuisance to exist, nor to dlmln.
<br />Ish or Impair the value of tile Property by any let or omission to let; and to comply with all requlrrmenls of law with
<br />respect to the Property.
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