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100755
<br />MORTGAGE
<br />THIS MORTGAGE, made this 29th day of January t g 87 between
<br />Partnersbip `
<br />"Heh.7- t'f)tik'('„i', NFARaCKd 1yD MTI --ARn WARFUnUHE, GRAND .- ISLAND, -'a Nebraska - General /;
<br />and FirsT,er Bank, National Association, Omaha, Nebraska, Mortgagee,
<br />'AlMortgagor shall mean mortgagors if more than one)
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<br />WITNESS£TH:
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<br />That Mortgagor, in consideration of the sum of Two mi l l.ioan and no/100 --------------------
<br />------------------------------------------ --- - - - - -- 2,004,000.00
<br />1 ; in hand paid by Mortgagee,
<br />hereby sells and conveys to Mortgagee, the following described premises in Hall
<br />county, State of Nebraska wit
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<br />SEE ATTACHED EXHIBIT "A^ INCORPORATED HEREIN BY THIS REFERENCE.
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<br />Wgether with all the appurtenances thereunto belonging m any way pet4ainrrtg thereto. Mortgagor relinquishes aft its ,
<br />o llb omestead and all ohter contingent interest in said premise& The conveyanceoft hegremises above d escribetitogeHrts :.
<br />tirtf#t all the rents, issues and profits thereof is made to secure the repayment of a loan made by the to ttte
<br />JV
<br />Mortgagor, as evidenced by a promissory note of even date herewith in the pmicipal Ttao ±till ion a rd noif1
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<br />executed by e f
<br />loth e order of the Mort
<br />Mortgagee, with interest at the rate therein set fo th� thepn ncipaf and arnerestpayabie in r e wilr,
<br />the terms of said promissory note, and finally maturing on Zia: ch = = 997
<br />and all rer ewats
<br />modificaticins thereof. All sums due shall bear interest after the due date at the rate of �" % per annum, and this -
<br />rtgage shall stand as security therefor
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<br />I anti! 311192 then ad;usts to 30-day average or the 5-year Treasury B i __3%_
<br />Mortgagor hereby expressly
<br />covenants and agrees with Mime, as follow
<br />1.. Mortgagor is lawfully seized of an mdeteas ble estate in fee simple free from encumbrances and has good right arid.
<br />power to convey an absolute title, in fi -e simple, inctzrd:ng all the rights of horrsestead. and v1 itf warrant and defeat t}te f Le
<br />to the same against all lawful claims.
<br />2. Mortgagor shall pay all sums hereby secured when due.
<br />3. Mortgagor shall pay when due all taxes and assessments of every type or nature levied or assessed against said
<br />Property, or upo:i the Mortgagee's interest there+ n, anti aise to pay any claim; lien or encumbrance against said property
<br />which may be or become prior and senior to the lien of this morgage,
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<br />4_ Mortgagor shall keep all buildings on the mortgageo property insured by fire and extended coverage insurance for the
<br />full insurable value of the improvements, out not less than the amount Of the mortgage, with sa€istaetory coirtsura.?€ae
<br />Protection against vandalism, business interruption coverage, as appropriate, in an amount equal to 50% of the anFual
<br />gross earnings from the cosiness derived from the premises art-' any other insurance as the Morgagee may require_
<br />Mortgagor will pay promptly, when due, any premiums on such insurance, Ali insurance wrian to carried -n co,p
<br />approved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached
<br />thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor writ give
<br />immediate notice by mail to the Mortgageew who may make proof of loss if not made promptly by Mortgagor, and each
<br />insurance company concerned is hereby authorized and directed to make, payment for such loss, directly to the
<br />Mortgagee instead of the Mortgagor and the Mortgagee jointly. and the insurance proceeds, or" part thereof, may be
<br />applied by the Mortgagee at its option either to the reduction
<br />of the indebtedness hereby secured or to the restoration or
<br />repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged
<br />property inextinguishmentof the indebtedness secured hereby, all right, titieand IP!7iBi�r�,fiirldtoarly
<br />insurance
<br />policies then in force shall pass to the purchaser or grantee. "
<br />5. Mortgagor t i) wilt not remove or demolish nor atter the design or structural cna
<br />ereaner
<br />erected upon the premises unless Mortgagee shall first consent thereto in writing- 00 } will maintain the premises in aood
<br />condition and repair, { Ill) will not commit or suffer waste thereof; r ivy will comply wah all taws. ordinances, rr gulatior-.s
<br />Covenants. conditions, and restrictions affecting the premises, aril wdf not suffer or perm f anv vto4atiav
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