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a{w�}iwau., - °: a.na milt (herein "Mortgagor") and
<br />THE OVERI M NATIONAL' BANK OF GRAND ISLAND (herein "Mortgagee••(,
<br />Atortpgor, Is iittlebted to; Mortgagee in'the principal sutra of S �,•� ,evidenced by Mottgagor'i note
<br />October 6, .1986 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, iftrot sooner paid, due and,payable on January 5, 1987
<br />To more the paymeritof the Note, with interestas provided therein, the payment of ail other sums, with interest,
<br />sdiinced by k oitgaigee to protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />-the Mokvlgor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located in Hall County, Nebraska:
<br />Lot Twelve (12), Block Four (4), Brentwood Subdivision,
<br />in the City of Grand Island, Hall County, Nebraska.
<br />THIS IM IS PAYABLE IN FULL AT THE END OF NINETY-0NE (91) DAYS. AT MATURITY YOU
<br />MUST REPAY THE ENTIRE PRINCIPAL BALANCE OF THE IDAN AND UNPAID INTEREST THIN DUE.
<br />1H6 M% IS UNDER ND OBLIGATION TO REFINANCE THE LOAN AT THAT TIME. YOU WILL
<br />THERERM BE PJQUIRID TO MAKE PAYMENT OUT OF ODER, ASSETS YOU MAY 01WN, OR YOU WILL
<br />HAVE TO FLNID A RIDER. WILLING TO LEND YOU THE MONEY AT PREVAILING MARKED RATES, 'WHICH
<br />MAY BE OdNSIDERABLY HIGHER THAN THE INTEREST RATE ON THIS IRAN.
<br />Transfer of Property. If all or any part of the Property or any interest of Mortgagor
<br />therein is sold, transferred or further encumbered without the express written consent
<br />of the Mortgagee, Mortgagee may, at its sole option, declare all stets secured by this
<br />mortgage to be imnediately due and payable.
<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 ail 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 mten•st thereon as prodded 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 of the Mc rteaKe Records of
<br />Nebraska, which Mortgage is a lien prior to the lien created hereb%
<br />C Other prior liens or encumbrances:.
<br />County,
<br />3. Taxes, Assessments_ To pay when due all taxes, special assessments and all other charges against the Property
<br />card, 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 descTibed 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 lot 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 nattl the suns secured hereby are paid in full.
<br />S. O Escrow For Taxes 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 />one- twelftb 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 />held by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />deposited. The satin paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premivins and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />8. Repair, Maintenaace and Use. '!b 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 />otherliens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor lo dimin-
<br />ish or imprir the value of the Property by any act or omi.ssion to act; and to comply with all requirements of iaw with
<br />respect to t. a Property.
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