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<br />�. 85..001110' 001849
<br />$5..•
<br />'002559 MORTGAGE
<br />This Mortgage isenbered Into between Richard E. Stephens, Jr. and Barbara G.
<br />Stephens Husband and Wife (herein "Mortgagor") and
<br />_--_ Five Points Banal (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 29, OOO. OG , evidenced by Mortgagor's note
<br />dated 2 -22 -85 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />i<aat sooner paid, due and payable on 8-21-85
<br />thepayment of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />ardvanead; by.'.Mottee to protect the security of the Mortgage, and the performance of the covenants and agreements of
<br />tlra Mottgaillor contained herein, Mortgagor does hereby mortgage and convoy to Mortgagee the following described
<br />property located in Hall. __ County, Nebraska:
<br />East two thirds (2/3) of Lot Five (5), Block Fifty -
<br />six (56), Original Town Additiona, City of Grand
<br />Island, Hall. County, Nebraska
<br />and
<br />West one third (1%3) of Lot `1'wc, ,, Block Sixty -Five
<br />(65), Original Town Addition, City of Grand Island,
<br />Hall County, Nebraska
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, right-, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rants 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 read estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"11topecly„
<br />Moctppar further consonants 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. Tolle- Mortgagor is The owner of the Property, has the right and authority to mortgage the Property, and
<br />wai raaus that the lien created hereby is a first and prior lien on the Property. except as may otherwise be set forth herein.
<br />P9 The Property Is subject to Mortgage wherein '(C
<br />to
<br />is the . recorded at Book--__-, Page _ . of the Mortgage Records of
<br />Nebraska, which Mortgage Is a lien prior to the lien created he. reb)
<br />0 Other prior lieu
<br />3. Taxes, AmseemenU. 7b pay when due all taxes, special wawrismentg 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 adfident to amble 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 4&mW by fire and such other hazards as Mortgatiew may require, in amounts and with companies acceptable W the
<br />and with loaf payable to the Mortgagee. In case of loss under such policies the Is authofted to
<br />conprt and tempromtee, in its discretion, all claims, thereunder at its snie uption, authorizedto either apply the
<br />procireds to the restoration of the property or upon the indebtedness secured hereby, but payments hereunder stall con-
<br />Umw the sues d hereby are paid in full.
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