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85== 000427
<br />MORTGAGE
<br />This Mort is entered into between H & D PARTNERSHIP and VINCENT L. DOWDING and
<br />_ ROt3EiP tiIiVt7afAIV as tenants in I: oftmon (herein "Mortgagor ") and
<br />FIRST NATIONAL BANH AND TRUST GO. OF NEARNEY (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 981 000.00 , evidenced by Mortgagor's note
<br />dated January 25, 198 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on July 23, 1985
<br />To secure the payment of the Note, with in'_rest 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 in _ Hall County, Nebraska:
<br />The South 6.8 Feet of the West 116.2 Feet and the South 2.0 feet
<br />u. L.iw Last .A.3 FeeL of Lot lrllf'Ll:cfil (13), Luid all of Lot
<br />Fifteen (15), in Block Fourteen (14), in College Addition to:
<br />West Lawn, in the City of Grand Island, Hall County., Neiiraska.°
<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 />„property„
<br />Mortgagor further coneenants and agrees, with Mortgagee, as follows:
<br />I. 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 />0 The Property is subject to a Mortgage wherein ____.
<br />is the Mortgagee, recorded at Book .___ , Page ...._�__..__. of the :Mortgage Records of ____ County,
<br />Nebraska, which Mortgage is a lien prior to the lien created herebv.
<br />0 Other prior liens or encumbrances:
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and ail other charges against the Property
<br />aced, 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 age by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgailee. and with loss payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust, t and compromise, in its discretion, all claims t,henunder at its sole option, authorized to either apply the
<br />to the MsWratjoh of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue until the suma secured hereby are paid In full.
<br />h. 0 Escrow For 'faxes and Insurance. Notwithstanding anything contained in paragraphs ,l and 4 hereof to the
<br />shall pay to the Mortgage at the time of paying the monthly installments of principal and interest,
<br />twelfth of the yearly taxes, rise menu, hazard Insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, all as reasonably estimated from lime to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortgagee without interest and 9pptled to the payment of the items in respect to which such amounts were
<br />deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Motatinitiel ordlall pay to Mort.gagre the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiumis and ground rents and the drp ,sits hereunder within It) days after demand is made: upon Mortgagor requesting
<br />payment thereof.
<br />d. Repair, Maintenance and Unit. To promptly repair, restore or rehuiid 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 nn+chanie'a or
<br />otheirtkin not expreWy sutwrdinatefl to the Ilen hereof; not to make, suffer or permit env nuisance lo, :•xist, nor to dimin
<br />k r fir impair the value (or the Propef'..y toy ally net I.,r on114A111n to act.: and to vointihi with nil requirements of law with
<br />remp"! to the Property.
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