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MORTGAGE 86- 001093
<br />This Mortgage is entered Into between Van H White and Bette A White,
<br />1
<br />Husband & Wife (herein "Mortgagor") and
<br />FIVE POINTS BANK (herein "Mortgagee ").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 51 , 000 Q p _ , evidenced by Mortgagor's note
<br />dated 2 -28 -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 8 2 7 — 8 5
<br />To secure the paymenf 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 />a
<br />property located in Hall _ County, Nebraska:
<br />Lot Twenty -Nine (29) located on the west side of the east
<br />portion of Kuesters Lake, being part of the East half of the
<br />Southwest Quarter (EISWi) of Section Thirteen (13), Township
<br />Eleven (11) North, Range Nine (9) West of the 6th P.M,, in
<br />Hall County, Nebraska
<br />"This mortgage is given to secure a Chattel Promissory Note the
<br />security for which is all personal and chattel property lo-
<br />cated upon said lot, and all of our interest and ownership in
<br />the common stock of Kuester Lake, Inc."
<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 conennants 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 />ISThe Property is subject to a Mortgage wherein — _.._. -- Home-- Feder3 .1--- _____._.__....___________
<br />is the , recorded at Nook __ —_._ , Page-__—, of the Mortgage Records of _. � _.____.. �.._. _ — County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />11 Other prior liens or encumbrances;.___ -
<br />3. Taxes, Assessments. 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 charges as they become due.
<br />4. Insuraince. To keep the improvements now or hereafter located on the real estate described herein insured
<br />by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />and with loss payable to the Mortgagee. In case of toss under such policies the Mortgagee is authorized to
<br />collect and compromise, in its discretion, all claims thereunder at its sole option, authorized to either apply the
<br />pimmods to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall cat•
<br />time until the snow secured hereby are paid in full.
<br />b. U Escrow For Taxes and Inatrisna. Notwithstanding anything contained in paragraphs 3 and a hereof to the
<br />UNY, 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 rent, of any) which may attain a
<br />priority over this Mortgage, all as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall he
<br />told by the Mortgagee without interest and applied to the payment of the items in respect to which :ouch amounts were
<br />deposited, The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Miwtgaga, Mortilitgot shall pay to Mortgagee the amount of any deficiency between the actual taxes, arse setm *rats, insurance
<br />promiums and ground rents and the deposito hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />6. Repair, Maintenance and Use. To promptly repair, wstore or rebuild 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 mechanic's or
<br />otherliom not expressly subordinated to the lien hereof; not to make, suffer or permit any nnisanve to exist, nor to dimin•
<br />ivh or impair the value or the Property by any act or ornimion t" acl; and to comply with oil requlrcoecnte of law with
<br />expect to the Pr pvrt.v.
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