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<br />MORTGAGE
<br />
<br />88-105001
<br />
<br />ThIIMortpp I..nte~d Into belween John R. Gunderson & Carol J. Gunderson,
<br />Husband & Wife as Joint Tenants
<br />
<br />(he~ln "Mortpgor") aod
<br />
<br />Five Points Bank
<br />
<br />(herein "Mortpaee").
<br />
<br />dated
<br />
<br />Mortp&or Is Indebted 10 Morlgqee In the prlDclpalmm of $ 25, 000.00 ,evidenced by MorlPIOr's note
<br />9-9-88
<br />
<br />(herelo "Note") providing for paymeats of priDclpalaod Interesl. with the balaoce of the
<br />3-14-89
<br />
<br />indebtedness, it 1I0t lOoner paid, due and payable on
<br />
<br />To lieCUJ'e the payment of the Note, with intere&t as provided therein, the payment of all other sums, with Interest,
<br />advanced by Mortgagee to protect the security of this Mortgage. and the perfonnance of the covenants and agreements of
<br />the Morleqor conlalned herelo, Mortgagor does hereby mortgage aod convey to Morlgagee the rollowlng described
<br />
<br />propeny loca\J!d In Hall County, Nebraska:
<br />
<br />Lot 3, located on the North side of the East portion of Kuester's
<br />Lake, having a lake frontage of 46 feet, and being a part of the
<br />East Half of the Southwest Quarter (E~SW~) of Sect~on 13,
<br />Township II, Range 9, in Hall County, NE, bounded on the northerly
<br />side by the common road and as shown on a plat in Lessor's
<br />possession.
<br />
<br />Totetber wjLh all bulldinp:, Improvements, fixtures, streels, alleys, pa55Bgeways, easements, rights, privileges and
<br />appurtenanon located thereon or In anywise pertaining thereto, and the rents.luues and profits, reversions and remaindea
<br />lhereof;lncludlol, bul nolllmlled to, heaUng aod cooling equlpmenl and such pemona! properly thaI is allached to the
<br />Improvemeall ao u to cn..Ulute a /lxl."'; all or which. Including replacements aod addlllonstherelo. is hereby declared
<br />to be a part or the ~al eslate IeC\lIl!d by lhe lien or lhls Mortgage and all or lhe roregolnl belnl rererred to herein.. the
<br />"Property",
<br />
<br />Morf.p&or ful1her convenanta and agrees, with Mortppe, Il6 follom:
<br />
<br />L P.aymenL To pay the indebtedness and Lhe Interest thereon ll5i provided in this Mortgage and the Note.
<br />
<br />2. TiU.. Morlp&or is the owner of lhe Properly. has lhe rieb! and euLhorily 10 morlgage the Properly, and
<br />warrants that the lien created hereby l.s a first and prior lien on the Property. except as may otherwise be let .forth herein.
<br />
<br />o The Property is subject to a Mortgage wherein
<br />
<br />Is the Mortgogee, 1I!corded al Book _, Page __ of the Morlgage IWcords of
<br />Nebraska, which MorlgallV is a lien prior 10 lhe lien crealed hl!n!hy,
<br />
<br />o other prior HeIUi Of encumbrances:
<br />
<br />County t
<br />
<br />3. Tues,.AJRlsmeDtL To pay when due all taxes, special ISIeS6ments and aU other .charges apiost. the Property
<br />and, 1IpOIl writteD demand by Mortpgeel to add to the ~menti retluired under the Now &eCured hereby, such amount II
<br />~y be sufficient to enable the Mortgagee to pay such Uxe&, UIe56Dlent& or other cblUJlfS 8i they become due.
<br />
<br />~. Inmnnce. To keep the improvements: now or herearter located on the real estate described herein imurad
<br />qaiD.It ~ by file and such other'hazards as Mo~ may require, in amounts and with companies acceptable to the
<br />M~J IIDd .,.~th Iou payable to the Mortgagee. In case of loss under such policies the Mortgagee Is authorized to
<br />ad")UIt. co1lect md b.~prom1aet in it& dllcreUoD, all cla1m& thereunder at ILs 5OIe.o.l;'t1on, authorizt:d to either apply till'
<br />__to tba _.... or tba PropeJlyor npoa t1i. InilOliieilnesa secured he~by. bul payments hel1lWlder Ihall con.
<br />tlnue uaW the IWIIS aecured he.~1rr all! pald In full.
<br />
<br />6. 0 _ For Tu.md lnIuroo;;:,o, NotwIlhstandlng anylhillJl contained In _phs 3 and 4 hel1lOr lolhe
<br />cootnry, ,MOrIPCOr Iha1I pay to the ~allhe ;.::,. or paylnl the monthly Installments of principal and Intornt,
<br />aae4woIfI!l, or the yearly taxes, ......mentil. huard Insurance ","mlUJllB, and lllDund ~nts (Ir any) which may allaln a
<br />priorlly onr lIllI M,,"-, -'I .. '~uonablyeoilmaled from lilne to ""'" by lbe Mortpcee. The &lDounlA 00 paid Iha1I be
<br />.bold 'by lhe ~ without iDteRllllGd apJlliad to the paymenl of U1e it...... In ...pectlo which .uch &lDOWlts ...re
<br />dopoaIted. Tbo aumo peld'to lol~ hereunder.arepledPd u,addl"ona1lCCu.t~y for lbe Indehledn"'lCCu~d by lhJa
<br />~.llarlpaor Iball pay to M~ the amoWll of my deficiency belween lh. .<"'al taxes, ......m.nli, Insurance
<br />pII!IDlua. aDd .pound renb and the depo&lll berewuSer wlthln 10 dlys after demand is ma~~ upon Mort.p&or .requeaUnl
<br />JIOYIDl'IlI tberoof.
<br />
<br />.. RIpair.1Iaka&8auce..d U.. To promptly 1"!palr, Tntoft' or nbuUd any bulldlnKl or imp,':w(!mtlntl now or
<br />......ftH Oft tile PJropnty; to klllp the ,Propllrty In,GOd condiUon and rt!!pa1r, without Wtite. and I'JwI from I~Qch.nl["ti or
<br />ot.herUml. Dot. nprwlly IUbordlari-.d to the lien hereof; not tomake,lurrrr or pt!rmJt any nulunct' to "xlAt, nor l~ c!lmin-
<br />.. .. tmpMr the ..aue of lbr Property by any Kt or omiaICX1 to .ct~ and to ['amply wUh all noquln'ml'nb or law ..i:."
<br />~ to UI9 PIopo!ty.
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