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MORTGAGE w; 101717
<br />This Mortgage is entered into between jaffis T. Butz and Debra Q. Btitz� _
<br />_.Jhl lllbarM% a_nc_IIflfe, -- (herein "Mortgagor") and
<br />Five Poirtts`_flank therein "Mortgagee ").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 150.000.00 , evidenced by Mortgagor's note
<br />dialed April 4. 1986 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, it not sooner Enid, due and payable on October 1. 1986
<br />To secure the payment of the Note, with interest as provided therein, the payment of all other sutras, with interest,
<br />stlranced 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 County, Nebraska:
<br />Lot Three (3) in Medical Park Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska.
<br />Together with all buildings, improvements, fixtures, streets, alieys, passageways, easements, rights, 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 />impreaments so as to constitute a fixture; all of which, including replacements and additions thereto, is hereby declared
<br />to be apart of the real estate secured by the lien of thisMortgage and all of the foregoing being referred to herein as the
<br />"Property"
<br />Mortgagor further convenants 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 />0 The Property is subject to a Mortgage wherein -- _-.._. - --
<br />is the Mortgagee, recorded at Book __Page Page _.._____ ___ of I he Mortgage Records of – ____- -._ —._ County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />0 Other prior liens or encumbrances: --- ._.___._----- _-- _ - - - -._ _____--- -- _--- _------ _-- ___ - -_
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and all ether charges against the Property
<br />aid, 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 />apinat damage, by fire and: such other hazards as.tortgagee 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 />adjust, *oDect 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 />tine until the sums secured hereby are paid in full.
<br />5. 0 Eserssw For Tura 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 />onedwalfth 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 />Will by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />dels"tad. Tae suave paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />L Morte. llaetga shldi pay tit Norlgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />pretntunm and grottnd'rcnts artd tMr depcxaits 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 ;sty buildings or improvements now or
<br />brrrafter on the Property: to keep the Property in good condition and repair, without waste, and tree from mechanic's or
<br />Oth*flieisii no: anpr —iy swhordinahrd to the lien hereof; not to make, suffer or permit any nm auc'r` to:•Kist, nor to dimin-
<br />or impair the valor c.r the Pn1wrt.y by any ao °t r�r omismon to act: and ti, t omplk w',th all MgUirem, rat: Of law with
<br />rasp"t to the ftoperty,
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