|
$�A0005
<br />MORTGAGE
<br />Tlsa Mortgage a entered into between Jerry J Milner
<br />(herein - Mortgagor") and
<br />THE OVMA D NATIONAL BANK OF MA11D iSL M, Grand Island, Nebraska (berein "MartVa ).
<br />Mortgagor a indebted to Mortgagee in the pd dpal sum of $ 16 , 000.00 , e,ideaced by Mortgagor's rote
<br />dated December 31, 1985 (herein "Nord') providing for Payments of principal and interest, with the balance of the
<br />budebledaeas, it not sooner paid, due and payable on Decanber 28, 1987
<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 hertan, Mortgagor does hereby mortgage and convey to Mortgage the following described
<br />property located in Hall County. Nebraska:
<br />Lot Twenty —Nine (29), Lot '11aJenty —Eight (28) and
<br />Lot Twenty -Seven (27) of Hawthorne Place, City of
<br />Grand Island, Hall County, Nebraska.
<br />IU)
<br />Lot Seven (7), Block (1), of Koehler Place in the
<br />City of Grand Island, County of Hall, State of
<br />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 remainder
<br />thereof; including, but not limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements to 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 covennants 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 />13 The 'Property is subject to a Mortgage wherein United States Small Business adtninistration
<br />is the Mortgagee, recorded at Book , Page of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />u Other prior liens or encumbrances:
<br />County,
<br />3. Tames, Aceeaaini nts. To pay when due all taxes, special assessments and all other charges against the Property
<br />arid, upon written demand by Mortgagee, to add W the payments required under the Note secured hereby, such amount as
<br />may be sufficient W enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. liasanom To keep the improvements now or hereafter located on the real estate described herein insured
<br />agaitrat dasutge by fire aetd such other hazards as Mortgagee may require, in amounts and with companies acceptable W the
<br />Mortgagee, said with lost payaW to the Mortgagee. In can of loss under such policies the Mortgagee is authorized to
<br />adjust„ correct and compromise, in its discretion, all claims thereunder at its sole option, authorized W either apply the
<br />pteoaedt to the Watoeatioo of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />times istio the sagas sactued hereby are paid in full.
<br />L 0 Eacntw For Tasat and Laurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />eotttmy, Mortgagor rdiall pay to the Mortgagee at the time of laying the monthly installments of principal and interest,
<br />ane twelfth of Use yearly taxes, aareaagenb, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, id as reasonably estimated from time W time by the Mortgagee. The amount& so paid shall be
<br />herd by the Merfggm withoat interest and applied W the payment of the items in respect to which such amounts were
<br />deposited. The sumo paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mltxlgagr. Mortgagetrahall pay W Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />prrmiurns and ground teats and the deposits hereunder within 10 days after demand is made upon IMortgagur requesting
<br />payaseatthercof.
<br />ti. Repir, Mtakillemrsm sad Wee. 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 tnrchanir's or
<br />otherlieits not ettpn%Wy subordinated W the lien hereof: not W make, suffer or permit any nuisanee to ex"t, nor to dimin-
<br />jA
<br />os impair the value of :he Property by any act or omission to act: and to comply with all requmrvrrwi;L% of low with
<br />respect to tfie YYc4wrty.
<br />
|