|
<br />MORTGAGE
<br />
<br />88- 104065
<br />
<br />This Mortgage is entered into between CHARLES A. LAWSON and VERA
<br />!!h.....MWSON. husband and wife. as joint tenants and not as tenants in
<br />commnn. herein mortgagor) and The Stste Bank of, .Cairo, A Nebraska
<br />BankinJt CorPOration (herein mortgagee).
<br />
<br />Mortgagor is indebted to Mortgagee in the principal sum of
<br />$3.000.00, evidenced by Mortgagor's note dated :::JZ"C: /0 , 1988 (herein
<br />Note) providing for payments of principal and interest, with the
<br />balance of the indebtedness, if not sooner paid, due and payable on
<br />~.12-, /f yO
<br />
<br />To secure the payment of the Note, with interest as provided
<br />therein, the payment of all other sums, with interest advanced by
<br />Mortgagee to protect the security of this t-Iortga.ge, and the performance
<br />of the convenants and agreements of the Mortgagor contained herein,
<br />~Iortgngor does hereby mortgage and convey to Mortgagee the following
<br />property located in Hall County. Nebraska:
<br />
<br />Lot 9, Block 9, Original Town of Cairo, Hall County,
<br />Nebraska, as shown on the recorded plat thereof
<br />
<br />Together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in any way pertaining thereto, and the rents, issues
<br />and profits, reversions and remainders thereof, all of which, including
<br />replacements and additions thereto, is hereby declared to be a part of
<br />the rea) estate secured b:r the lien of this MOI'tgage and all of the
<br />foregoing being referred to herein us the, "Property",
<br />
<br />MOl'tgagol' further con\'enants and ugreeB with Mortgagee, as
<br />follows:
<br />
<br />1. Payment. To pay the indebt.edness and the interest thereon as
<br />provided in this !>1ol.tgage and the Note,
<br />
<br />2. Mortgagor ill the owner of the PropertJ', has the right and
<br />authority to mortgage the Properly, and warrants that the lien created
<br />hereby is II first and pdOl' lien on the Property.
<br />
<br />3. To pay when due all taxes, special assessments and all other
<br />charges against the Property and, upon 'HiLten demand bJ.' Mortgagee, to
<br />add to the payment requir'ed under the ;';ole secured hereby, such amount
<br />as may be sufficient to enablc the Mortgagee to pay such taxes,
<br />assessments or other charges as the~' become due,
<br />
<br />4. In the event the Property, or any part thereof, shall be taken
<br />by cminent domain, the Mortgagee is empowered to Golle<:t and n,ceive
<br />all compensation which may be paid fOI' any property Ulken or for
<br />damages to property not taken, and Mortgagee shall apply such
<br />compensation, at its option, either to a rlf~ct-ien-.oC.l.hEl..indebtedness
<br />secured hereby or to repair and reStOl'e 1t:~\l'~:proge;t',~"soQp.-n1Aged.
<br />. ; ;...~: ;'.... .,:'" ,. '~ :" I " '~ -: ' : I
<br />, 5. Mortgagee may, but shall have noob-lig":l1ci~tc;(~?' a~~'lact
<br />which the Mortgagor has agreed but fails to do, and MOl'tgag€!i!' may also
<br />do any act. it. deems ne<:essary to prot.ect the lien hereof. ~101.tgagol'
<br />agrees to repay, upon demand, any sums so expended b~' the Mortgagee for
<br />the above purposes, and any Sllms so expended by the MOI'tgllgee shall be
<br />added to the indebtedness secured hereby and become subject to the lien
<br />hereof. l-1ortgagee ahall not incur any persona] liability beclluse of
<br />anything it mil)' do ai' omit to do hereundel-,
<br />
|