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MORTGAGE 85-- 003436
<br />This Mortgage is entered into between William L Fowles and Kathleen
<br />C FOWtaC
<br />Husband and Wife
<br />Five Points Bank (herein "Mortgagor") and
<br />(herein "Mortgagee„).
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 150, 000.00 evidenced by Mortgagor's note
<br />dated -_ 7 —t— —6— (herein "Note ") providing for payments of nnci
<br />P � pal and interest, with the balance of the
<br />lndebft4ness, if not sooner paid, due and payable on 7 -16 -2000
<br />To secure tlrepayment of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />wvamtliiri W ; pMtect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the Mortgagor contained herein, Mortgagor does here by mortgage and convey to Mortgagee the fallowing described
<br />Property located in _Matt County, Nebraska:
<br />Lot Four (4), Medical Park Fourth Subdivision, in the City of Grand
<br />Island, 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, beating 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 />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 />❑ The Property is subject to a Mortgage wherein
<br />is the Mortgagee, recorded at Book . , Page _ of the Mortgage Records of County,
<br />Nebraska, which Mortgage is alien prior tc the lien created hereby.
<br />❑ Other prior liens or encumbrances:
<br />S. Taxes, Aaeeararertta 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 />nay be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become dice.
<br />4 Insi rtmce. To keep the improvements now or hereafter located on the real estate described herein insured
<br />spinet damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />110rtpigae, and with -loss payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorised to
<br />mpromise, in its discretion, all claims thereunder at its sme option, authorized to either apply the
<br />P to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall cat.
<br />UMW UW the suma secured hereby are paid in full.
<br />1.. O Fserow For Tium said Insurance. Notwithstanding anything cone ined in paragraphs 3 and 4 hereof to the
<br />consuceY, Mortgagor shot pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />orae•twetU of the yearly taxes, 260essments, hazard insurance
<br />ftY w� Ntis premiums, and ground rents (if any) which may attain a
<br />MortgW- Ni as ratably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />beet lay the Mortgagee wkkmt interest and applied to the payment of the items in respect to which such amounts were
<br />sod• The sums Paid to Mortgagee hereunder are pledged ss additional security for the indebtedness secured by this
<br />Alortpgor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />payment tit�oground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />8, Re10011t, Maletettntce and use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter 00 the Property; to keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />otherliens not expressly subordinated to the lien hereof; not to make, Buffer or permit any nuisance to exist, nor to dimin-
<br />ish or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with
<br />respect to the Property.
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