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65... 102947
<br />MORTGAGE
<br />ThisAfortgageis entered into between Nebraska Mil –Nic, Inc. d /b /a Midtown
<br />'Holiday 'Inn
<br />(herein "Mortgagor ") and
<br />Five Points Bank, Grand Island, Nebraska
<br />--(herein "Mortgagee").
<br />gagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 27 5 .000,00 , evidenced by Mortgagor's note
<br />dated May 30, 1986 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on June 1, 1988
<br />Tosecure the payment of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanced 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 a:d convey to Mortgagee the following described
<br />property located in Hall County, Nebraska:
<br />All of Lot Two (2) and the Westerly Ninety –Two (92) feet of Lot
<br />Three (3) Mil Nic Addition to the City of Grand Island, Hall
<br />County, Nebraska; and an easement over the following described
<br />parcel of real estate situated in Grand Island, Hall County,
<br />Nebraska: Commencing at the northeast corner of Lot One (1)
<br />Mil –Nic Addition thence southerly a distance of Sixty Feet (60')
<br />along the east boundary of said Lot One (1), thence northwesterly
<br />across Lot One (1) Mil –Nic Addition to a point on the northerly
<br />boundary lin% of said Lot One (1) which point is Sixty Feet (601)
<br />west of the northeast corner of said Lot One (1) thence easterly
<br />along the northerly boundary line of Lot One (1) to the point of
<br />beginning
<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 lien of this Mortgage and all of the foregoing being referred to herein as the
<br />.. Prowrty"
<br />Mortgagor further convenants and agrees, with Mortgagee, as foilows.
<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 />91 The P aperty is subject to a Mortgage wherein _._-- Re1Bank
<br />is the Mortgagee, recorded at Book Page of the Mortgage Records of -__ Hal l_ County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />❑ Other prior liens or encumbrances: -- ----- - -_-_- - -_ _ . -. _ _ _ -- _ _ - --- -__ -_. -- - --- - - -- -- .._—
<br />3. Taxes. Amessments. To 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 />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 />against damage by fire and such other hazards as Mortgagee 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, 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 />Unue until the sums secured hereby are paid in full.
<br />5. Q Escrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrmy. Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one- twelfth 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 />bell by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />depasiled. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgaigor"I pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />prenduns and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />8 Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to keep Ose Property in good condition and repair, without waste, and free from mechanic's or
<br />t"t
<br />otherherav not expressly subordinai I <o the lien herrof; not to make. suffer or permit any nuisance to exist, nor to dimia
<br />Fair or impair the value of the Property by any tu`t or omission to act; and to comply with all requin-n,eni., of law with
<br />respect to the Property.
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