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1 L MORTGAGE 86--- 102410 This Mortgage is entered into between -nd Sn, i _ �r_ord. Husband & Wife —_ - - -- (herein "Mortgagoi')and Five Points Bank _(herein "Mortgagee "). Mortgagor is indebted to Mortgagee in the principal sum of $ 1:0,000.00 , evidenced by Mortgagor's now dated 5/12/86 . (herein "Note ") providing for payments of principal and interest, with the balance of the indebtedness, if not sooner paid, due and payable on 5/10/86 To secure the payment of the Note, with interest as provided therein, the payment of all other sums, with interest, advanced by Mortgagee to protect the security of this Mortgage, and the performance of the covenants and agreements of the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described property located in Ha l ? --County, Nebraska: The Easterly 240 feet of a strip of '_and in the Southwest Quarter of the Nort: east Quarter (SWiNEi) and of Lot Two (2) on Island in Section Thirteen (13), Township Eleven. (11) North, Range Nine (9) west of the 6th P.M., running with parallel sides from south to north through said premises, twenty -six and one half (261) rods wide, bounded as follows, to- %..it: On the south side by the half section line running along the south line of said Southwest Quarter of the Northeast Quarter and on the west side oy a line t-,enty -seven (27) rods east of and parallel .vith the west line of said Southwest Quarter of toe Northeast Quarter (SWIINE;) and on the north side by the north channel of the Platte River, cor.,monly called the '.icod River ", and on the east side by a line twenty -six and one -half (26$) rods westof and running parallel caith the east '_ine of said South- west Quarter of the Northeast Quarter and Lot T-xo (2), subject to the right-of-way over a strip of land at the south end thereof, one rod wide reserved by Edward Baasch, and the west twenty - sever seven (27) rods of the Southwest Quarter of the )northeast Quarter (SWvN'E>) and the west twenty-rods (27) rods of Lot Two (2) on Island, all in Section Thirteen (13), Township Eleven (11) *forth, P.anae Nine (9) west of the 6th P.M. Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the rents issues and profits, reversions and remainders thereof; including, but not limited to, heating and cooling equipment and such personal property that is attached to the improvements so as to constitute a fi °ture; all of which, including replacements and additions thereto, is hereby declared 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 ..Property ". Mortgagor further convenants and agrees. with Mortgagee. as follows: 1. Payment. To pay the indebtedness and the interest thereon as provided in this Mortgage and the Note. 2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and warrants that the lien created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein. C The Property is subject to a Mortgage wherein is the Mortgagee, recorded at Book _ , Page of the Mortgage Records of _ County, Nebraska, which Mortgage is a lien prior to the lien created hereby. 0 Other prior liens or encumbrances: 3. Taxes, Assessments. To pay when due all takes, special assessments and all other charges against the Property and, upon written demand by Mortgagee, to add to the payments required under the Note secured hereby, such amount as may be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due. 4. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the Mortgagee, and with loss payable to the Mortgagee. It, case of loss under such policies the Mortgagee is authorized to adjust, collect and compromise, in its discretion, all claims thereunder at its sole option, authorized toeitherapply the proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con- tinue until the sums secured hereby are paid in full. 5. 0 F.xrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest, one- twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a priority over this Mortgage, all as, reasonably estimated from time to time by the Mortgagee. The amoun�; so paid shall be held by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting payment thereof. 6. Repair, Maintenance and Use. To promptly repair, re>tore or rebuild any buildings or improvements now or hereafter on the Property; to peep the Property in good condition and repair, without waste, and free from mechanic '� or othertiens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimin. istt or impair the value of the Property hN- any act or omission to act; and to comply with all n•quirements of lau with respect to the Propeth j� 3