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<br />MORTGAGE 85-- 001177
<br />This Mortgage is entered into between —William Rat pl Far: at t
<br />(herein "Mortgagor ") and
<br />Five Points Bank
<br />Mortgagor is indebted to Mortgagee in the principal (herein "Mortgagee"),
<br />p pal sum of $ 103.000 00 evidenced by Mortgagor's note
<br />dated 3-8 -85 _(herein °Note" providing for P Payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on_ 3 -7 -92
<br />To secure the payment cf 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 - Ha t t __ County, Nebraska:
<br />Lots Five (5), Six (6) and Seven (7) All in Farrall Subdivision
<br />Hall County, Nebraska
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements• rights, privileges and
<br />Wurtenall— located thereon or in anywise pertaining thereto, and the rents issues and profits, reversions and remainders
<br />thereof; including, but not limited to, healing 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 />O The Property is subject to a 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 />Q 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. 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 Ions payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretlon, 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 />tinue until the sums secured hereby are paid in full.
<br />5• C_l FAcf0w For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 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, assesaments, hazard insurance premiums, and ground rents 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 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 tts additional security for the indebtedness secured by this
<br />Mortgage. Mortgagorshall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposit.i hereunder within 10 days after demand is made upon Mortgagor requesting
<br />Payment thereof.
<br />6. Repair, Maintenance still Use, 1'o promptly repair, restore or rebuild any buildings or improvetne"Is 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 />otherliena not expressly subordinated to the lien hereof: not to make, suffer or permit any nuisance to exist, nor to dhnin
<br />res ec impair the value of the Properh by irny' uel or omission to xet; tu:d to cornply with all requircmcet,s of law with
<br />rrspre•t to the 1'rteperl.y.
<br />ua;
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