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<br />MORTGAGE
<br />This Mortgage is entered into between Arnold__
<br />11M
<br />(herein "Mortgagor ") and
<br />FIVE POINTS BANK _T — (herein "Mortgagee"),
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 2, snn nn evidenced by Mortgagor's note
<br />dated _2 -5 -85 . _ (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on 4 -ro-85 _.
<br />Tosecure the payment of the Note, with interest as provided therein, the payment of all other suers, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgage, and th, formance 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 lia1Z_- ___.__ - -_ County, Nebraska:
<br />Lot #46 in Belmont Addition, Grand Island, NE
<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 rent% 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 convenants and agrees, with Mortgagee. as follows
<br />1. 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 Prolli except as may otherwise be. sort forth herein.
<br />i:] 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 hereby
<br />Ll Other prior liens or encumbrances :.
<br />3, Taxes, Assamments. To pay when due 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 :Vote secured hereby, such amount as
<br />y be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they hm!ome due.
<br />4. Insurance. To keep the improvements now or hereafter located on the real estate deseribed herein insured
<br />twt damalle by fire and such other hazards ws Mortgagee may require, in amounts and with companies: acceptable to the
<br />and with Ira payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />lildoat, collect and compromise, in Its discretion, all claims thereunder at its sole option, authorized toeitherapply the
<br />proceeds to the restoration of the Property or upore the indebtedness speared hereby, lilt( payments hereunder shall poll-
<br />timae until the sums secured heret)!, are paid fit full.
<br />S. Ll Ksemw Por Taxes and Insurance. !Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary. Mortgagor shalt pay to the Mortgagee at. the time of paving the monthly installments of principal and interest,
<br />oner-twelfth of the yearly taxes. assessments, hazard insurance teremiums. and ground rents tit any) which may attain a
<br />priority over this Mortgage, all w reasonably estimated from time, to Lime by the Mortgagee, The amounts!;() paid shall rase
<br />held by the Mort without interest and applied to the payment, of the items in respect to which suvh amounts were
<br />dlepormted, The sat paid to Mortgagee heretoldi -r are pledged as additional security for the indebtedness secured by this
<br />Mean or tall paw to Nteartgatte the anteaun€ of any (Wiriency between lire aeeual taxes, tesseswmeatts, insurance
<br />premiums and ground renlas and the atrlxnkt.; heeenrader within ltl days after demand i, made upon Mortgagor requesting
<br />6. It "r, Manitelnemer std lisp, fo prrrntplly repair, ivskin- or rebuild am, I,utidhlgN or itoptetverncntw now or
<br />hereafter ern the Propels: ire keep file Property lit gcxsd a•ondmon land repair, without want,, laud fma, from mechanic, or
<br />lytherlwns trait eapff lv !euIv"fJmnte to the Ilrn 1wreof; not to stake, tiuffer ur perrrtit am nuttsamw to exist. not to dinrin-
<br />mle of tmg it tits eaiue e,t Itte Vp,two -, I,y, arav act or omi 'lloa t" set'. and Iv rnmp1% 'Aeilt all rcryuiretnerts "f law with
<br />res at( t" tae, I'r«ptwrl
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