86100376 - Laserfiche WebLink

Browse

r S"0037g MORTGAGE THIS MORTGAGE is executed this 26th day of November, 1985, by TREVA ELAINE GANGWISH, RODNEY KENT GANGWISH and ARLEN SCOTT GANGWISH, CO- TRUSTEES OF THE WENDELL JOSEPH GANGWISH TRUST AGREEMENT DATED FEBRUARY 7, 1977, Mortgagor, to RODNEY KENT GANGWISH and ARLEN SCOTT GANGWISH, CO- TRUSTEES OF THE GANGWISH FAMILY TRUST AGREEMENT DATER APRIL 19, 1977, Mortgagee. The Mortgagor, in consideration of the sum of FIFTY -FIVE THOUSAND DOLLARS ($55,600.00), receipt of which is hereby acknow- ledged, hereby grant, bargain, sell and convey to the Mortga- gee, their successors and assigns, forever, the real property more particularly described as follows: An undivided one - fourth it /'th? interest in and to the Northeast Quarter (NEk) 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 to 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 that the Mortgagor is lawfully seized of a fee simple title to said real property and all improvements and fixtures thereon, free and clear of all encum- brances. 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 all 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 DOTE. 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 Ghall elect not to perform such repair or replacement, the principal 'alznce of the PROMISSORY NOTH and accrued interest thereon shall 1-ecome due I