|
a
<br />+r ``
<br />8 �' 1 i
<br />MORTGAGE
<br />, rhisllfortgageisenterediiitobetween _Robert K. Poland and JucL th K. Poland.
<br />Husband and Wife,_.A.s Tenants in Common _ _.(herein "Mortgagor ")and
<br />Five Points Bank
<br />_(herein "Mortgagee ").
<br />Mortgagor is indebted to Mortgagee in the principal sum of 7 5 L,00—Q--M— , evidenced by Mortgagor's note
<br />dated v 2' 1-1 -8 5 _ (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, it not sooner paid, due and payable on, 2 -1 4-1 992 —�._.
<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 - -.Hell - - - - - -- County, Nebraska:
<br />Fractional Lot Three (3) and Four (4), in Block Nineteen (19), in
<br />Kernohan & Decker's Addition to the City of Grand Island, Nebraska;
<br />Fractional Lot Three (3) and Fractional Lot Four (4), in Block Seven
<br />(7), in Spaulding & Gregg's Addition to the City of Grand Island,
<br />Nebraska; and Fractional Lots Three (3) and Four (4), in Block Nine-
<br />teen (19), in Palmer's Subdivision to the City of Grand Island,
<br />Nebraska; said tract having a frontage on Second Street of 132 Feet
<br />and a depth of 132 feet, all in 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 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 Property, except as may otherwise be set forth herein.
<br />f.1 'l'he Property is subject to a Mortgage wherein is the Mortgagee, recorded at Rook ____ __-. -- - , Page _ _ of the Mortgage Records of -_---- _----- -------- --- County,
<br />Nebraska, which Mortgage is a lien prior tea the lien created hereby.
<br />i' tither prior liens or encumbrances:
<br />3. Taxer;, Arxisaments. 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 />y be sufficient to enable tilt, Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. i . ranee. To keep the iinproventents riow or hereafter located on the real estate described herein insured
<br />nst damage by fire and Such other halardi its Mortgagee Inay require, it amounts and xvith companies ail 'eptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. III vase 'If Inss under .urh Imlicl- the M-1091e V, authori"d to
<br />collect and compromise,. im its discretion, all clalrm thereunder at its sole option, anthori zed toeit_ tier apply the
<br />proceeds to the restoration of the Property or upon the indebtedness seeured hereby, but payments hereunder shall con-
<br />tinue until the sums secured hereby are paid in full.
<br />3. CI Eacrow For 'Poxes and Insurance, Notwithstanding anything contained in paragraphs a and I hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the titre of paving the naeanthiv instaiiment,% of principal and intervNi,
<br />c t $E 1 of the yearly taxe», asp mc,nts, liaaard insurance premlums, and ground rents Of any) which may attain a
<br />priority over this Mortgage, all as reasonabiy estimata,d from tinie to time by the Mortgagee. The aniounts so paid ,hall be
<br />t d by the Mortga se without Interest aria applied In the payment of the Iterns in rwep* =el io which ,itch amounts were=
<br />demoted, The gums paid tan Mortgagee hereunder air pledged as additional eeeurity for the uicli -tile do =s: ;wvurvd by this
<br />Mortgage. fa#arrt rrahall pay to Mortgage the amflui.t of any deficlence I:etsveeii t}tv artoal rw€i° <eem€ inenls, insurance
<br />aant&utyo and Found rents erid the depaha, horwander within lit dass after rleniand is inaih, ugson'elnrigagLr requesting
<br />pililtment the=reof.
<br />. epeir, blairiter# Sire acrd ll 1`n prornpl.lt ,,pair, rrstan€ nr whoild aria hulld"IR, it imt +eocenicnU, flow or
<br />twirvaftarr on then t'rnfvrty, to I'vep 111i Properly III good condition and repail, without %NmOv, and free, froua mechanic ", or
<br />avlher'iienv IPA Vitin"sty xu'horSonated t,, the hwn hereof, nui in inake.,uffer or permit any nuisance 61 "Niel, .inr to dimin
<br />iii "r inFp *ir the :+affair n1 0", t=rnlieriq En any tart or inrok"inti In w I, aza,l Io rnirtpiv ullh ail w(plitYrinutth ut la,a with
<br />sx=qwo. tai the VV,Ij a,rl�.
<br />
|