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<br />MORTGAGE
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<br />BB- 105149
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<br />This Mortllge is enlered Into between
<br />Husband and Wife
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<br />~ 0VEIlL!lNll NATIONAL BANK OF GIIAND ISLAND
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<br />Jeffrey W. Kelly and Nancy S. Kelly,
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<br />(herein "MortIBll!or") Bnd
<br />(heteln "Mortgagee").
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<br />Mortglcor Is indebted La Mortgagee in the principal sum of $ 92.000.00 , evldenc~d by Mortgallor's noLe
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<br />dated SeoteniJer 22. 1988 (h.rein "Note") providing ror paym.nls of principal and int.rest, with th. balanc. or th.
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<br />Ind.btedn,..... il not soon.r paid, due and payabl. on Septanber 22, 2003
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<br />To seCure the payment of the Note, with interest as provided therein, the- payment of aU other sums, with Interest,
<br />advanced by Mortgape to protect the'security DC this Mortgage, and the perronnance or the covenants and agreements of
<br />the Mortgagor contained .hereio, Mortgagor does hereby mortgage and convey to Mortgagee the following described
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<br />property located in HALL County. Nebraska:
<br />That part of the South Half of the Northeast Quarter (S!NE!) of Section
<br />TweD1:y-Dne (:ll), Township llleven (11) North, Range Nine (9) West of the
<br />Sixth (6th) Principal Meridian, County of Hall, State of Nebraska
<br />described as follow.;;: Beginning at the cen1;er of the intersection of
<br />South Lincoln Avenue and Phoenix Avenue (as shown on 1;he plat of South
<br />Park, now I"alPved); thence Southeasterly along the center line of said
<br />Sou1;h Lincoln Avenue to a point dilrtant 976.25 feet Northwelrterly of
<br />the intersection of said Sou1;h Lincolo Avenue and Nebraska Avenue; thence
<br />Southwesterly along a line parallel with 1;he cente. line of said Phoenix
<br />Avenue (as shoWn on said plat of South Park), 480 i,,;:1;, IIPre or less, to
<br />1;he intersection wi1;h the center line of Burlington Northern Inc. 's Track
<br />No. 33; thence Northerly aloog said Track center line to the intersection
<br />with the center line of said Phoenix Avenue; thence Northeasterly along
<br />said center line of Phoenix Avenue to the point of beginoing, now known
<br />as Ln1; One (1), B & Y Subdivision, Hall County, Nebraska.
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<br />Together with aU buildings, Improvements. fixtures, sLr('eLs, alJt>ys, passageways, easeml'nlS. rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and thl' n'nh is...ut's and profiLoi, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling equipment and such pprsonal property that is attached to the
<br />improvements so as to constitute a fixture; all or which. including rl'placements and additions thereto. is hereby declared
<br />- to be a part of the real eslate secured by lht' lien of this MOrlga~l' and all of the foregoing being referred to herein as the
<br />"Property",
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<br />Mortgagor furlher convenants and acre",!>, with Morlgagl'l'. a... (1Il1ow!o'
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<br />1. Payment. To pay the indebtedness and the intprl':oL Lht'rl'un II~ pro\'idl'd In this Mortgage and the Note.
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<br />2. TiUe. Mortgagor is the owner of thl' Property. has Lhi' righlllnd authoriL~ to mortgage the Property, and
<br />warrant.s that the lien created hereby is a first and prior Iil'll on Lht, Propl'rty. l'KCl'pl as may otherwlsl' be set forth herein.
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<br />o The Property is subj~t to a Mortgage wht'rein
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<br />is the Mortgagee, recorded at Book __. Page vr lilt' M()rl~a,,\l' H.t'l'nrds or -
<br />Nebraska. which Mortgage Is a lien prior to the Iil'lI l'rt'lIh'd hl'ft'by.
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<br />o Other prior liens or encumbranet's: __ _ _
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<br />County,
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<br />3. Taxes" Assessments. To pay whpn due all taxes, special BSSessmenls and all other charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments required under the Nole Sl'Cured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such taxes. assessments or other charges as they become due.
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<br />4. Insurance. To keep thl' Impron>ml'nls n~w or heT'l'sfter located on thlO' real eslaw described herein insured
<br />against damage by fire and such other hazards as MortgageE' may I'l'qulre. in amouols and with compani('s accl'ptabl(' to lhf'
<br />Mortgagee, Bnd with 10$ payable to thE' Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, In Its discretion, all claims tbel"l.'und('r at its sole option, authori7.('d to either apply the
<br />proceec:bi to the-restoration of the Property or upon the Indebtedness secured hereby, but payments hereunder shall con-
<br />tinue. until the IUII1IHCUl'ed,bereby are paid in rull.
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<br />5. 0 ElCI'ow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortpgor shall pay to the Mortgagee at thE' '~;mE' of paying the monthly Installments of principal and interest,
<br />one-twelfth of the yearly ~es, assessments, hazard insurance prem.{ums. and ground rents (If any) which may atLaln a
<br />pljority over tbta ~ortPlet all 8:!1 reasonably estimated from Lime to time by the Mortgagee. The amounts so paid shall be
<br />beld by Lhe MortsaPe wiUu~ut Interelit"And:apptled to the payment of the items in respect to which such amounts were
<br />depo:iolLed. The IiUl1Ui p~d to Mortgagee hereunder are pledged as additional securit)' for the Indebtedness secured by this
<br />J.~ortgage. Morta.gonhall pay to Mortgagee the amount DC any deficiency bl'tween lhE' actual taxes, assessments, insurance
<br />premiums and KJ'Ound fenu and the deposits hereunder within 10 days dtE'r demand 15 madE' upon Mortgagor requesting
<br />peyment thereor.
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<br />6. Repair, Yain1enmce and Use. To promptly repair. reston' or rebuild any buildings or improvt'ml.'nts now or
<br />hereafter on the Properly; to kffp the Property In load condition and repair. without WasIl', Bnd frt't, Crom m(lchnnlc's or
<br />othrrllrm nut npfn5ly subordinated to 'he IIfn hereoC; not to makp, suCCer or pi'nnit any lluisanCl' to t'xlsL, nm In dimln.
<br />ish or impair lhl" ValUl' oC the Pru~'i!rty by any Bct or omlSllon to acl; and 10 comply with all n'qulrt'm,'nlJo uf law wllh
<br />"'IpI'cI Iu 1.11' Prupt'rlY.
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