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<br />88-104762
<br />
<br />MORTGAGE
<br />
<br />'l1I1s Mortgage I. .n"'red Into b.tween
<br />a WIdow), Husband and Wife
<br />
<br />Five Points Bank
<br />
<br />Gary Graf and Susan Graf (Formerly Susan King,
<br />
<br />(h.",ln "Mortgagor") and
<br />(herein tlMortaagee11).
<br />
<br />Mortpgor Is Ind.bted to Mortgag.. In the principal .um of $ 3.000.00 , .vld.nc.d by Mortgagor'. not.
<br />
<br />dated 8-11-88 (h.",ln "No"'''. providing for paym.nts of principal and Inletll6t, with the balanc. of the
<br />
<br />ind.btedn.... if not &oon.r paid, due and payabl~ on 8-15-90
<br />
<br />To se<U'" the paym.ntof the Nole, with Inle",.t as provld.d th.",ln, the paym.nt of all oth.rsums, with Int.tll6t,
<br />advan.ced by Mortgagee. to protect the security of this Mortgage, pnd the perConnance of the covenants and agreements of
<br />the Mortgagor contained ~~~in, MOrtgigOr does hereby mortgage and convey to Mortgagee the following described
<br />
<br />property loealed in
<br />
<br />Addi tion to
<br />r........ Thi:::t"en (13), B;.o::k 'X'wanty (20) ~':drff /"\1'~5t i...:LWU
<br />~_. l1al, County, Nebraska
<br />
<br />HAl:'
<br />
<br />County, Nebraska:
<br />
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents. Issues and profits, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling equipment and such personul property that Is attached to the
<br />improvements so as to constit.ute a fixt.ure; all of which, including replacements and additions thereto, is hereby declared
<br />to be a part of the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"Property" .
<br />
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />
<br />1. PaymenL To pay the indebtedness and the Int.erest. thereon as provided in this Mortgage and the Note.
<br />
<br />2. Title. Mortgagor I. the own.r of the Prnperty, has the right and authority to mortgage the Prnperty, and
<br />wanants t.hat. the lien created hereby Is 8 first. and prior lien on t.hl' Propert.y, except. as may otherwise be set forth herein.
<br />
<br />eg The Property is subject to a Mortgage wherein Firs t Federal Lincoln
<br />
<br />is the Mortgagee, recorded at Book _. Page _ of the Mortgage Records of
<br />Nebraska, which Mortgage Is a lien prior t.o the lien created hereby.
<br />
<br />o Other prior liens or encumbrances:
<br />
<br />Hall
<br />
<br />County,
<br />
<br />3. Tues. As&eamentB. To pay when due all taxes, special assessments and all other charges againllt the Property
<br />and. upon written demand by Mortgagee, to add to the payments required under the Note secured hereby, such amount as
<br />may be wfficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />
<br />4. Insurance. To keep the improvements now or hereafter located on the real estate described herein Imuted
<br />agalnJt ~e by Ore and such other hazards 8!1 Mortgagee may require, In amounts ond with companies Bccepl.able to the
<br />Mortgagee, and with I"'" payable to the Mortgage<. in .... of 10lI!l und.r .uch ,nlleies th. Mortgagee Is authorlz.d to
<br />adjUlt, collect end oompfOmlse. In its discretion, all claims thereunder at Its sole option, authorized to either apply the
<br />proeeeds to the 1eitoration of the Property or upon the indebtedness secured hereby, but. payments hereunder shall COD-
<br />linue unW the .uma 5e<:ured h.",by are paid in full
<br />
<br />5. 0 _ For TUft IIId I........... Notwithstanding anything eontalned In paragraph. 3 IIId 4 h.",of to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the tlm. of paying the monthly In.tallm.nts of prlneipal and inlemt,
<br />ane-twelftb or the yearly taxes. usesamentB, hazard Insurance premiums, and ground rents (lr any) which may attain a
<br />priority DYer this Mortpp, aU as reasonably estimated [rom time to time by the Mortpgee. The amounts so paid shali be
<br />hold by the Mortppe without Inle...t and applied to the paym.nt of the Items In re.peet to whleh .uch amounta wore
<br />depooitad. Tha au... paid to Mortgagee he",und.r are pl.died .. additional ...urlly for the Ind.bt.dness ..eured by lhill
<br />Mortpce. MortpcorJhll1 pay to MoJ1.&alt'e the amount or any deficiency between lhe actuallaxes, auessmenLl, hwurance
<br />premiums and lJ'Ound renll and the dfposlll hereunder within 10 days after demand Is rTUlde upon Mortllllor requeltlng
<br />payment thereof.
<br />
<br />6. Repair, Maintenance and VM!. To prompUy repair. restore or rebuild any buildlngli nr improvements now or
<br />hereafLn on the Property; to bep Ihe Propttrty In eood condition and repair. without wash', and (wc rrom mcchanlc's or
<br />otherllens not. ezpretlly lubordinatt'd to t.he lien hereof: nol to make, Iu.ff" or pennll any ouisanel" to exlst. nor La dlmin.
<br />ish or Impair the value of U1~ Property by any Icl or omluion to aet. and to comp'ly with all requln-mt'nts of law with
<br />rnprd to lh~ Properly.
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