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MORTGAGE 86-- -o 101$27
<br />This Mortgage is entered into between Robert M. Brown and Mary M. Brown,
<br />Husband and Wife (herein •Mortgagor ")and
<br />Five Points Bank (herein "Mortgagee").
<br />II[ostingor•is indebted to Mortgagee to the principal: sum of $ 44 , 000.00 evidenced by Mortgagoes note
<br />dated Agri 1 14. I9B in
<br />-Not providing for payments of principal and interest, with the balance of the
<br />Wdeble4ness, It s a sooner paid, due and payable on April 14, 1991
<br />Tosecum the psymentof the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advaacad by Mortgagee to protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the Motipgor oontened herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />Properly located hr Hall . County, Nebraska:
<br />The North Half (Nki) Northeast Quarter (NE;), Section Two (2),
<br />Township Ten (10) North, Range Eleven (11) West of the 6th
<br />P.M_., Hall County, 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 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 hen of this Mortgage and all of the foregoing being referred to herein as the
<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 prier lien on the Property, except as may otherwise be set forth herein.
<br />❑ The Property is subject to a Mortgage wherein _._...._ _ _ ___ _ .__
<br />is the Mortgagee, recorded at Book .__.___.____ , Page .._...__ __ __.. of the Mortgage Records of ______— County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />fJ' Other prior liens or encumbrances:.__
<br />3. T=wL% Assessments. Fro 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 />maybe sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. ltrs trance. 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 logs payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust, 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 ❑ Escrow For Taxes and lauwance. 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 />owtwelfth 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 />heW by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />deposited. The sums }raid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />L Mortgage. Mortgagorshall pay to Mortgagee the amount of any deficiency between the actual rotes, assessments, insurance
<br />premiums and ground rents and the deposit+ hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment dwreof.
<br />G. Repair, Maintenance and Use. '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 mechanic's or
<br />other liens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimity
<br />M or impair the value of the "erty by any act or omimiott to act; and to comply with all requirements of law with
<br />F"Pe ct tat the PtopeTt.,
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