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88- 105667 MORTGAGE This Mortgagu is entered Into b~lw(>(!n Husband and Wife 11lE OVEllLAND NATIONAL BANK OF GRAND ISLAND Rodger L. \Yillinms und Gernlvn \Yilliwns Mortgagor is indebted to Mortgagee in the principal sum of $ (herein "Mortgagor") and _(heretn "Mortgagee"). 14.500.00 . evidenced by Mortgagor's nole dated Oct. 20. 1988 (herein "Noten) providing for payments of principal and interest, with the balance of the indebtedness, If noL sooner paid, due and payable on Aoril 18. 1989 Tosccure the payment of the Note, with Interest as prOVided therein, the payment of all other sums, with Interest, advanced by Mortgagee to proLect the security DUhis MortWlge. and the perfOl1nBnCe of the covenants and agreements of the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee. the following described property located in Hall County, Nebraska: Lot Eight (8) Block Three (3) Country Club Subdivision of Hall County, Nebraska. Together with all buildings, imvrovemenL6. fixtures, stn'l'U1, allt>ys, passageways, l!asemenl:>, righL'i, privileges and appurtenances located thereon or in anywise pertaining lhl'reln, ltlld lhl' ""nth is.''Ut'h and profits. reveJSions and remainders thereof; including, but not limited to, heating and coniine t>quipml>nt and such pl'fSonal property that is attached to the improvements so as to conslilul.e a fixture; all of which. including rt'placeml'nls and uddiLions thereto. is hereby declared to be a part of the real estate secured by thl' lien of thi.. Morl gag(' and all uf the foregoing bl'ing referred to herein as the "Property". Mortgagor further convenanLc; and agrl'l's. with Mortgagl'\,. a.~ fullow!'! 1. Plyment. To pay the indebtedness and the mlt'rt'hl tht'n'ulI U!> prundl'd In this Mortgage and the Note. 2. Title. Mortgagor is lhl' owner of lht' Propert)'. ha.. ,hi' ri"ht and authorit~ Lo mortgage the Property, end warrants that Ute lien created hereby is a first and prior Ii!'n on Lhl' Propl'rl~'. I'XC('pt as may oth('rwisc be set forth herein. 01 The Property is subjecllo a Morlgag" wh....in Equitable Building.~g Loan is the Mortgagee, recorded at Book __. Pa~t! uf Ihl' Mnrt~Il~W H.l'('urd!i of - Nebraska. which Mortgace is a lien priOf to till' !ll'n ("n'ah'd IWrl'b\ County. o Other priOf liens or encumbranC't's:_ 3. Taxes. Assessments. To pay whpn dut' all tax('s, spl'l'ial aSSt'5Sml'r.ts and all other charges against the Property and, upon wrilten demand by Mortgagf.'e, to add to the payml'nls n.quired Undl'f the Notl' secured hereby. such amount as may be sufficient to enable lh(' Mortgagee to pay such taxes, assessml'nb Of other charges as they become due, 4. Insu.n.nce. To ke('p the improwl'ml'nts now or hf.'ll'after locatl'd on the real esLate described herein insured against damage by fire and such other t-lzsrds as Mortgagee may rt'quire, in amounts and with companil'fj accppLabll' to the Mortgag('(>, and with loss payablp to lht' Morl~a~t'l:.. [n CBS(' of loss undef such polidt's lhe Mortgagee is authorizl'd La adjuat, coll~cL and compromise~ in its discn.>lion. all claims thereundl'f al iLs soh' option. authori1.ed to ('ither apply tht' prDCl'eds to the restoration oC the Property or upon th(' indeblPdness S('cun,d hereby. but paymenls hPteunder shall con- tinue until the SUDlIsecurrd hereby are paid in full. 5. 0 Eacrow For 'fIXes and Insurance. Notwithstanding anything contained in paragraphs a and 4 hereof to the contrary, Mortgagor shall pay 10 lhe Mortgagee atlhe timE' of payinit lh(l munthly installmf.'nls of principal and interest, one-twelfth of the yearly taxes. assessments, hazard insuranc(> premiums. and ground renls (if any I which may attain a priority over this. Mortpge, all as reasonably CfiUmaled from lime to Uh1l' by thl' Mortgagee. The amounts 50 paid shaJl be held by the Mortg&gft!' without interest and applied to the payment of [hI' ilt'R\s lit nlspllrl Lo which such amounts were cXpoIited. The IUms paid to Mort.gae:ee hereunder 1m' pledged 49 additional sl'cunLy for th(llndebtedness sl!cured by this Mortpgc. Mortpgorsha!IIQ.Y to Mortgagee the amount of any deficient')' hl.twl't'n thl' actual taxt's. BSSI'SSments. insurance prenuums and ground rents and th(> deposits hl'reunder within 10 daYIi aftt'r df'mand is madt' upon Mortgagor requesting paYl1U.'nt Lbereof. 6. Repalr, PtWnbmance and Ute. To promptly repair. rrston' nr ",build any buUdln~ or impmn'ments now or brl'1"aftn on thE' Proprrt)t; to k('ep thl' Property in load ("(mdltion and rl'palr. without w/lSl", nnd fn'l' rrom mechanic's Of othrTUens. nul t'''pn'SSly suboroinatf'd 10 thl!' lit'n hefl'oL nol to mak!'. luffl'r Of pl'fmit Bny lluiSllnt'l' lo I'xist. nor In dlmin- tm or Impair Uu' yalue of lh.. Propt'rlY by Bny Dcl or oml",ioll to 8l"1. and 10 l'ompl)' with nil "'qUln,nwnL.. nf Inw with rt'5pI't"lllJI.w Ilmpeort~..