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<br />MORTGAGE
<br />This Mortgage is entered into between GAIL E. BRUMMUND AND DEBERA D BRUM4JND,
<br />Husband and Wife (herein "Mortgagor ") and
<br />Herbert C. and Edith Elsie B:)nsack (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of s 40, 000, 00 , evidenced by Mortgagor's note
<br />dated Noverrbf 20, 197�herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on Demand
<br />To secure the payment of the Note, with interest as provided therein, the payment of all other stuns, 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 Eighteen (18), Block One (1), Brentwood Subdivision in the City of Grand
<br />Island, Hall County, Nebraska.
<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 forgoing being referred to herein as the
<br />„property„
<br />Mortgagor further eovvenanis and agrees. with Mortgagee, as fellows
<br />1. Payment. To pay the indebtedness and the interest thereon as prov ided 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 />Q The Property is subject to a Mortgage wherein
<br />is the Mortgagee, recorded at Book ---- ---- ____.. Page ,t the- %7ortgagr Rerorrls of _._.--- ----- -- County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby
<br />O Other prior liens or encumbrances:..
<br />3. Taxes, Assiessimerits. 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 Note secured hereby• such amount as
<br />may be sufficient to enable the Mortgagee to pay such taxes, assessments or other chargers as they become due.
<br />4. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured
<br />dirt 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 case (if loss under such policies the Mortgagee is authorised 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 the Property or upon the indebtednew. secured hereby, but payments hereunder shall con•
<br />tines until the suite secured hereby are paid in full.
<br />5. 13 Escrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and ,f hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority (net this Mortgage, all as reasonably estimated from time to time by the Mortgagee. 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 />deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagorshall pay to Mortgagee the amount of any deficiency hetween the• actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within Ill days after demand is made upon Mortgagor requesting
<br />payment thereof,
<br />B, Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or impnrvemetih now or
<br />hereafter on the Property; to keep the Property in gtwil rendition and repair, without wnste, and free from mechanic's or
<br />other liens not expressly sulmnrdinated to the lien hereof; not to make, suffer or permit any nuisaaev to exist, not lo 411111111
<br />ish or impair the value of the lerotwily by any act or ontissioh to act; and in comply with all rryuiteanents of law whit
<br />respect to tae i'roperiv
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