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MORTGAGE 87-- 101753
<br />Tbis Mortgage is entered into between Thomas L nnftnn anti Krictic, A ❑nitnn,
<br />hushand anti wife (herein "Mortgagor") and
<br />Five Points Bank Grand island Nehracka (herein "Mortgagee" ).
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 48 ON - 00 evidenced by Mortgagors note
<br />dated March z0 19R7 (herein "Note ") providing for payments of principal and interest, with. the balance of the
<br />indebtedness, if not sooner paid, due and payable on. April 1989
<br />To secure the payment of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgage; and the performance of the covenants and agreements of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located in Hall County, Nebraska:
<br />Lot Ten (10), Block Three (3), Brentwood Subdivision in the City of Grand Island,
<br />Hall County, 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 remaisden
<br />thereof; including, but not limited to, heating and coeling equipment and such personal property that is attached to the
<br />improvements so as to constitute a fixture; all of which, including reptaccments and additions thereto, is hereby declared
<br />to be a part of 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 coneenants and agrees, with Mortgagee, as follows:
<br />1. Payment - To pay the indebtedness and the interest 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 Property, except as may otherwise be set forth herein_
<br />X The Property is subject to a Mortgage wherein — E[; "itahip $_- rl� lefing anti 1 nan
<br />as Doc. $78- 005234
<br />is the Mortgagee, recorded W*Wwkx2CxxXXXMMW __ of the Mortgage Records of Hall County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby-
<br />I- Other prior liens or encumbrances:
<br />3. Taxes, Assessments. To pay when due all taxes, special a�sessments 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. Insurance. 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 acceptrble 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 />tte until the sums secured hereby are paid in full.
<br />5. El Escrow 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, assessments, 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 without 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 />L Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxer, 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 />other liens not expressly sutordinated to the lien hereof; not to mane, suffer or permit any nuisance to exist, nor to dimin-
<br />lob or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with
<br />respect to the Property.
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