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<br />MORTGAGE 87— noloo
<br />I%islfortgagei--,k.nttmdint4)be,IwN-n _—Robert A. Morris and Carol A. Morris,
<br />husband and -wife- _ (he rein " Mortgagor") and
<br />FIR5T NATIONAL BANK PANI TRUST CO. OF PiEARNEY
<br />(herein "Morilgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of § 24,495.19 evidenced by Mortgagor's note
<br />January 2, 1987
<br />dated --- (herein" ^note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on_iLa_n9A_r_Y1_5_L 199 2 _
<br />To secure 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 and convey to Mortgagee the following described
<br />property located it Hall County, Nebraska:
<br />Lot Sixteen (16), Block Two (2), in Replat of Riverside Acres,
<br />an Addition to the Cit% of Grand Island, Hall County, Nebraska.
<br />Together with all buildings. improvements, fixtures. streets, aileys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise, pertaining thereto, and the rent-s. 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 replacement,,, 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 />"Property
<br />,Mortgagor further convenants and agrees. with Mortgagee. as follows:
<br />I. Payment. To pay the indebtedness and the interet thereon as provided in this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, h&, the right and authority to mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior lien on Hit- Propertv, except as may otherwise be set forth herein.
<br />L.j
<br />The Property is subject to a Mortgage wherein
<br />is the Mortgagee, recorded at Book _ , Page - - -_ I of the Mortgage Records or County,
<br />Nebraska, which Mortgage is a lien prior to the 'lien created hereby.
<br />0 Other prior liens or encumbrances:
<br />3. Taxes, Assessments. To pay when do%- 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 cause 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 tile Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue until the sums secured hereby are paid in full.
<br />5. CJ Escrow For Taxes and t` ante. Notwithstanding anything contained in paragraph s 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly instaiments of principal and interest,
<br />erne- twelfth of the yearly taxes, assessments, bitzard insurance premiums, and ground rents of any) which may attain a
<br />priority over this Mortgage, all as reasonably estimated from time to time by the Mortgerv. 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 />deposiBed. The sum paid to Mortgagee hereunder are pledged as additional soc ,u rity for the indebtedness secured by this
<br />I
<br />Mod". Mortgagor shall pay to Mortgagee the aniount of any deficiency between the actual taxes, assessments, insurance
<br />premium and and rents and the deposits hereunder within 10 days after demand it, inadt upon Mortgagor trquv.bting
<br />payment therroU
<br />ll Repair. Maintenanceanal Use. To promptly rep r, restore - Tehuiid any llitilding" or m1pruvrinents now Or
<br />he,ftattv'r on that Property, to keep tht, Prop.-rty in good i onditt,mi and mpau . withma " mf.,, and ftev front niechanir's or
<br />tAhPfueng "04r eXpralel' ."tKIM01SWI to thv lien herv,A, 1)1A W utak01, suffer tie aesc rut nee 1(, exist. nor ?o dmon-
<br />i,A- 40 impwr the viijoe� of th, Property hy any avi Or "IfRWWn to Act, and u, vwnplS with All evquimfiwnts o4 law with
<br />1*4pml to "'he rrowrtv
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