86106308 - Laserfiche WebLink

Browse

NEBRASKA MORTGAGE 86..,.. 10$306 This MORTGAGE made this '2 � day of October, 1986, between JOHN K. MORRIS and CYNTHIA R. MORRIS, husba and wife ( "Mortgagor ") and MARIEITA MORRIS ( "Mortgagee "). IN CONSIDERATION OF THIRTY THOUSAND AND NO 1100 DOLLARS ($30,000.00) advanced by Mortgagee to Mortgagor who acknowledges receipt of such sum which is evidenced by a promissory note of even date ( "the Note ") which this mortgage secures, the Mortgagor jointly and severally if more than one, hereby mortgages to the Mortgagee the following described real property situated in the County of Hall, State of Nebraska, and described as follows: Lot F, Block One (1), Elm Place Addition to the City of Grand Island, Hall County, Nebraska, together with all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may integrally belong to or here- after become an integral part of such buildings and improvements to such real property (collectively "the Property "). Mortgagor covenants with Mortgagee and its successors in interest that (i) Mortgagor holds title to the Property in fee simple and has Lawful authority to mortgage the same, (ii) the Property is free of liens and encumbrances except as stated above, and (iii) Mortgagor will defend the Property against the lawful claims of any person or entity. 1. PAYMENTS. Mortgagor shall promptly make all payments required under the Note anJ anv other instrument securing the Note. 2. TAXES. Mortgagor shall pay each installment of all taxes and special assessments of every kind, now or hereafter levied and assessed against the Property or any part thereof, before same becomes delinquent, without notice or demand and shall provide Mortgagee with evidence of the payment of same. Mortgagor shall pay all taxes and assessments which may be levied upon Mortga- gee's interest herein or upon the Mortgage or the debt secured hereby without regard to any law which may be enacted imposing payment of the whole or any part thereof upon the Mortgagee.+ 3. INSURANCE AND REPAIRS. Mortgagor shall maintain fire and extended coverage insurance insuring t improvements and buildings constituting part of the property for an amount equal to the actual cash value of such improvements, exclusive of foundations, but in no event for an amount less than the amount of the unpaid principal balance of the Note. Such insurance policies shall contain a standard mortgage clause in favor of the Mortgagee and shall not be cancellable, terminable or modifiable without ten (10) days written notice to Mortgagee. Mortgagor shall promptly repair, maintain and replace the Property or any part thereof so that, except for ordinary wear and tear, the Property shall not deteriorate. In no event shall the Mortgagor commit waste on or to the Property. 4. OPTIONAL ADVANCES. If the insurance required above is noc promptly effected, or i t e taxes or special assessments levied and assessed against the Property shall become delinquent, Mortgagee (whether electing to declare the whole Mortgage clue or not), may, but need not, effect such insurance, effect such repairs, pay such taxes and special assessments, and all such payments with -1- l_ L