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MORTGAGE 85---'001146
<br />This Mortgage is entered into between _ Arthur Reed and xAthl --- - g_,j
<br />Husband and Wife each in his and her own right and as �tte
<br />snou of the other
<br />rein 'Mortgagor ") and
<br />FIVE POINTS BANK
<br />(herein "Mortgagee „).
<br />Mortgagor is indebted to Mortgagee in the principal sum of $10, 000.00 evidenced by Mo
<br />rtgagoes note
<br />bated 3 -8 -85 (herein "Note ") providing or
<br />g payments of principal and interest, with the balance of the
<br />hidebteduess, it not sooner paid, due and payable on 3-8 -88
<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 17a11 County, Nebraska:
<br />Lot Twenty -one (21) in the Argo Fourth Subdivision in the Village of Alda,
<br />Hall County, Nebraska, being a tract of land in the Southeast Quarter of
<br />the Southwest Quarter (SEiSWi) and a part of the Southwest Quarter of the
<br />Southwest Quarter (SWiSWi) all in Section Five (5), Township Ten (10)
<br />North, Range Ten (10) West of the 6th P.M.
<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 pat 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 convnnants and agrees, with Mortgagee, as follows:
<br />I. 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 />0 The Property is subject to Mortgage wherein .-- -.___. --------------- --- - - - - -, 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 />0 Other prior liens or encumbrances:.___..____..._
<br />3. Taxaa, Assessments, To pay when due all taxes, special assessments and all other charges against the Property
<br />send, 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. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured
<br />against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with lore payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized 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 indebtedness secured hereby, but payments hereunder shall con-
<br />tints$ until the sums secured hereby are paid in full.
<br />S. 0 Escrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and a 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 over 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 />L Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />er
<br />6. Repair, Maintenance and Use. To promptly repair, restore 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 �Lo
<br />otherilens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance Ut exist, nor to dimity•
<br />fah or impair the value of the Property by any act or oinlsslon to act; and to comply with all requitvnunis of law with
<br />respect to the Property.
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