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MORTGAGE 86- 102411 This Mortgage is entered into between _ -- 'ou93.as D. Axf,::•r+i ::ti =heila -- -'herein "Mortgagor ') and I FIVE P01 ' S Bnt3'C ---- - - - - -- �_— - - - -- _(herein "Mortgagee "). Mortgagor is indebted to Mortgagee in the principal sum of $ i0.000 _ 00 , evidenced by Mortgagor's note dated 5/12/36 --(herein "Note ") providing for payments of principal and interest, with the balance of the indebtedness, if not sooner paid, due and payable on— 5/10/80 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 11_. County, Nebraska: The Easterly 250 feet of a strip of land in the Southwest_ ;carter of the Northeast Quarter (SWiP113i) and of Lot Tti:o (2) on Island in Section Thirteen (13) , Township Faev2n _1 1) ,:orth, Range Nine (9) West of the 6th P.M., running with parallel sides from south to north }:rough said premises, twenty -six and one half (261)r- _"wide, bounded as foliows, to -wit: 'Jn the south side by the �:r section line runnina along the south line of said Southwest Quarter of the Northeast Quarter and or, the west side by a line tv :enty -seven (27) rods east of and parallel with the west line of said Southwest Quarter of the Northeast Quarter (SwINEi) and on the north side by the north channel of the Platte River, cornmor,ly called the "Wood River ",anal on the east side by a line twenty -six and one -half (261', rodswestaf and runnira parallel with the east line of said Southwest Quarter of the Northeast Quarter and Lot Two (2), subject to the right -of -way over a strip of land at the south end thereof, one rod . ..i.de reserved by Edward Baasch, and the west twenty-seven (27) rods of the Southwest Quarter of the northeast Quarter (SW#NEI) and the .vest twenty -seven rods (27) of Lot Two (2) on Island, all in Section Thirteen (13), Township Eleven (ll) North, Range Nine (9) ;Pest of the oth P.M. Together with all buildings, improvements, fixtures, streets, alleys, passageways. easements, right,,, 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 fixture: 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 convnnants and agrees, with Mortgagee, as follows: I. 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. 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 iien created hereby. 12 Other prior liens or encumbra.tces:______ 3. Taxes, Assessments. To pay when due all taxes, special assessment, 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, znd with loss payable to the Mortgagee. In 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 to either apply 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. ❑ Escrow 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, orwtwelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents lit' any) which may attain a priority over this Mortgage, all as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall be held by the Mortgage without interest and applied to the payment of the items in respect to which such amounts wen deposited. The sunu paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this rwF SMortgage. Mortgagor "I pay to Mortgagee the amount of any deficiency het weep 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 i'se. I'o promptly repair, restore or rebuild any buildings or improverents now or hereafter on the Property: to keep the Property in good condition and repair, without waste, and free from mechanics s �. or otherl.iens not cxpressh: subordinated to the lien hereof; not t-'a make, stiffer or permit any nuiwnce to eyisi, nor au dirr,in- i tsh or impair the value nt t'le Nrnperiy by an} act ar otni'sion t<" act, and to comp.% with all n °pulp•', ids of law with '"peel to the PT(Iw+rt�