86100375 - Laserfiche WebLink

Browse

In 86`100375 MORTGAGE THIS'MORTGAGE is executed this 26th day of November., 1985, by TREUA ELAINE GANGWI'SR, RODNEY RENT GANGWISH :and ARLEN SCOTT GANGWISH, CO- TRUSTEES OF THE WENDELL JOSEPH GA.NGWISH TRUST AGREEMENT DATED FEBRUARY 7, 1977, Mortgagor, to KR3STY `S_ PALMER, TRUSTEE OF 7. E TREUA GANGWISH INCOME TRUST AGREEMENT DATED AUGUST 2.3., 1985, Mortgagee. The Mortgagor, in consideration of the sum of ONE .1 UN TEN THOUSAND DOLLARS ($110,000..00), receipt of which is hereby acknowledged, does hereby grant, bargain, sell and convey to the Mortgagee, her successors and assigns, forever, the real .property more particularly .described as follows: An - undivided one -half (1 /2) interest in and to the Northeast Quarter (NE4) of Section Four (4), Township Nine (9) North., Range Twelve (12) West of the 6th P.M., Hall County, Nebraska., together with all improvements and fixtures thereto, to have and t hold as herein provided. This Mortgage is given to secure the payment of a PROMISSORY NOTE from the Mortgagor to the Mortgagee, of even date and constitutes a security agreement with respect to the fixtures attached to said real property. The Mortgagor warrants seized of a fee simple title improvements and fixtures thereon, ces -. that the Mortgagor is lawfully to said real property and all free and clear of all encumbran- The Mortgagor agrees to pay the indebtedness hereby secured, when due. The Mortgagor shall pay all taxes., assessments and other charges which may become liens upon said real property when due, and before delinquency., and shall provide the Mortgagee with proof of payment thereof upon demand. The Mortgagor shall maintain fire and extended coverage of insurance covering the improvements on said real property, in an amount equal to the total indebtedness on said real property, with the proceeds of any loss payable to the Mortgagee and the Mortgagor as their interests may appear, and shall. provide the Mortgagee with proof of such coverage upon demand. The Mortgagor shall not permit any mechanic's lien or junior mortgage to be filed or exist against said real property without the prior written consent of the Mortgagee. The Mortgagor shall not commit or permit waste and shall maintain the improvements on said real property in good condition and repair. The Mortgagee may inspect said real property and the improvements thereon at alf reasonable times, and upon default by the Mortgagor in the maintenance thereof, the Mortgagee may perform such maintenance and add the expense thereof to the principal balance of the PROMISSORY NOTE. In the event of loss or damage to the improvements and fixtures on said real property, the Mortgagor may elect to repair or replace such improvements or fixtures. If the Mortgagor shall elect not to perform such repair or replacement, the principal balance of the PROMISSORY NOTE and accrued interest thereon shall Become clue I