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<br />MORTGAGE 85_. 000479
<br />This Mortgage is entered into between Reginald A. Malcom and Susan A. Malcom,
<br />I•Iusband and Wife
<br />_ (herein "Mortgagor ") and
<br />The Overland National Bank of Grand Island (herein "Mortgagee ").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 16,005.50 evidenced by Mortgagor's note
<br />dated Jan' 26, 1985 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on Feb, 11, 1988
<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 in -hall County, Nebraska:
<br />Lot Mine (9) in hidden Lakes Subdivision Number Four (?14), Grand Island,
<br />Hall County, Nebraska.
<br />Transfer of Property. if all or any part of the Property or any interest of
<br />Mortgagor therein is sold, transferred or further encumbered without the express
<br />written consent of the Mortgagee, Mortgagee tray, at its sole option, declare all
<br />sums secured by this mortgage to be imwdiately 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 netts 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 thin Mortgage and all of the foregoing herng referred to herein as the
<br />"Property ".
<br />Mortgagor further covennants and agrees. with M1f0rlg3gee, as follows
<br />1. Payment. To pay the indebtedness and the ante ry t thercoo as prosnded In this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, has the right and authori:% to mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior hen on the Property. except as may otherwise be set forth heroin.
<br />l 11w Property is sdblect to a Mortgage wherein
<br />is the Mortgagee. recorded at Hook _..__.__ _ . Page of tit, Moru!age Hut orals of _ _.. _---County,
<br />Nebraska. which Mortgage is a lien prior to the hen created herebe
<br />C] Other prior liens or encutnhranct,s: .
<br />3. Taxes, Aswitarnersts, To pay when disc all taxes, mpecial assessments and all other charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments required under the blot.- secured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as the} become due.
<br />a. Inswavalm. To keep the improvements now or hereafter located on the real estate de scribed herein insured
<br />agssima damage by fire and such other hazards as Mortgagee rosy require. to amounts and with vornpantes acceptable to the
<br />id., d with loss payable to the Mortgagee. lit case If loss under such policies the Mortgagee is authorized to
<br />ad' t, eodleel and compromise, in its discretion, all claimk thereunder al Its molt, option, authnriz.erl its t,tth -r apply live
<br />proceeds to the restoration of the Property or upon the tndehtedneN.s >veurvd hereby. but pacmcnts hereunder shall con-
<br />tints until the sumss secured hereby are paid in full.
<br />h. (7 FAscrow For Taxes and Insurance. Notwithstanding and thing runtained in paragraphs 3 and •l hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly utstallmenis of principal and Inter , t,
<br />ono- tweirth of the yearly taxes. amessments, hazard insurance pr intumv, and broutnd rents (if any) which insist, attain a
<br />priority over this Mortgage, all as reasonably estinnated front tin- to time by the Mortgagee. The amounts :o paid shall he
<br />held by the Mortilagre without interest and npphcd ter the payment of the items in resprct Ito which such amounts we",
<br />drisovisitH, The sums paid to Mortgagee hereunder are pledged as additional s -curly for tht, nndehtedness %ecureal by this
<br />mortsialle. mottgallorshall fray to Mortgagee the amount of any deficiency bet"Iun 1hr actnai laxes, ass- ssments, insurance
<br />ur and ground rents and the depetsits hereunder willnn Iit day§ after demand i, snack upon Mortgagor requrwling
<br />payment therrof,
<br />h. 11"Mr. Mainten"Viss and tsa, '1'o promptly r- tnalr, r -mlonc ov rehuild any iniddinks or inipmvemrntk now or
<br />tae fir on the Pro nto,; tat keep the Property In good cundrtton and rehab, without waste and fire finest mechanic', or
<br />trihert'Irna cud a vpfesalt' xutxrdinat -cl to Na- lien hereof; not In make. boiler it Permit ant' wiisancc tan cse,l, Mena Ia, ttmmn
<br />ish or miltioir the vale- of Ihr Prohrtty by any viol. Inv ontlsston In act: and ur comb lv , ndh ail I law with
<br />w4ro`YI. II, I.tY PrfrlrR "%
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