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MORTGAGE 87- 100538
<br />This Mortgage Is entered into between Robert G. Henue and Brenda J. I!erNe, Husband
<br />---and Wife --(herein "Mortgagor") and
<br />I --- The overland National Bank of Grand Island, Grand Island, NE -(herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of S 15•000•00 evidenced by Mortgagor's note
<br />dated Jan. 23, 1987 (herein "Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable oa__= Jan. 1, 1990. �
<br />Tosecure the payment of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanced by XortpW to proted the- security of this Mortgage, and the performance of the covenants and agreements of
<br />the Mortgagor contained hereirt,'Moi - o'es hereby mortgage and convey to Mortgagee the following described
<br />d
<br />property located in Hall County, Nebraska:
<br />LiDt Twenty-Eight (28) in Block One (1),
<br />Knickrelin Addition to the City of Grand
<br />Island, County of Hall, State of Nebraska.
<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 personal property that is attached to the
<br />improvements so as to constitute a fixture; all of which, including replacements and additions thereto, is hereby declared
<br />to be a part or the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"Property,".
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows!
<br />1. Payment. To pay the indebtedness and the interet thereon as provided in this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior lien on the Properly. except as may otherwise be set forth herein.
<br />JDMe Property is subject to a Mortgage wherein Nonvest Bank of Grand Island
<br />is the Mortgagee, recorded at Book,----,--- , Page of i hv Mortgage Records of Hall County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />❑ Other prior liens or encumbrances:
<br />----------
<br />3. Taxes, Assessments- To pay when due all taxes, special assessments and all other charges against 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 sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. Instuance. To keep the improvements now or hereafter located on the real estate described herein insured
<br />against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss 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 thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue, until the sums secured hereby are paid in full.
<br />5. 0 FAcrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, assminents, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, all as reasonably estimated from time to time by the Mortgagee- The amounts so paid shall be
<br />held by the Mortgagee withwit interest and applied to the payment of the items in respect to which such amounts were
<br />deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagarshall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />6. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />otherlitust not expressly subordinated to the lien hereof; not to make, suffer or permit all ' %. nuisance to exist, nor lo dimin-
<br />ish or impair the value of the Property by anY act or omi,,,jon to act: and to eornply %till all requirement. of taw with
<br />re'llo•0 to loo proprrt�,
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