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<br />MORTGAGE
<br />This Mortgage is entered into between Clarence H. Bosselman and Edith E. Bosselman,
<br />Husband & Wife, as joint tenants with Right of Survivorship & notp tepgt is irk Common erein ortgagor ) and
<br />Five Points Bank - Grand Island (herein "Mo ").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 4,400, 00 evidenced by Mortgagor's note
<br />dated November 10,1987 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on- November 1, 1996
<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 Five (5), in Block Sixty -Six (66) in Wheeler and
<br />Bennett's Second Addition to the City of Grand Island,
<br />Nebraska
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, right,;, 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 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 convenants and agrees, with Mortgagee, as follows:
<br />�a
<br />1. Payment. To pay tha 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 />Cg The Property is subject to a Mortgage wherein . American_ General Life Insurance Co. of Delaware
<br />is the Mortgagee, recorded at Book 51 Page 673 of the Mortgage Records of Ha 11 County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />D Other prior liens or encumbrances:
<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. larturailace. 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 />admit, 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. CI 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 rinci
<br />p pet and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />Priority curer 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 />Mortgage. Mortgagor stall 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 />moment thereof.
<br />G. Repair, Maintenance and lire. To rom t1
<br />p p y 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 />otherliena not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimin-
<br />or impair the value of the Property by any act or omission to act; and to comply with ail acquirements of law with
<br />respect to the Property.
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