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85-= 004096
<br />MORTGAGE
<br />'Ibis Mortgage is entered into between Mary Jean Stumuff, Trustee for Trust A.
<br />as per Last Will and Testament of Donald P. Watson (deceased) _(herein "Mortgagor ") and
<br />Broken Bow State Bank _(herein "Mortgagee ").
<br />144 710.46
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ ° , evidenced by Mortgagor's note
<br />dated Aug. 23, 198�erein "Note ") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on Auger, 1956
<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 />.tale Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located in — 4A 11 County, Nebraska:
<br />The West Half of the Northwest Quarter (W!�NWZ) and the West Half of the
<br />Southwest Quarter (W11SW -4) of Section Thirty –one (31), Township Eleven (11)
<br />North, Range Ten (10), West of the 6th P.M., 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, 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 authonty 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 he set forth herein.
<br />❑ The Property is subject to a Mortgage wherein _ _ None-
<br />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 />© (Aher prior liens or encumbrances:.-__ - --_ , --
<br />iQOTTe
<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 loss 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 I o 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. 1-) FAcrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and •1 hereuf to the
<br />colttrary, 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 or any deficiency between the actual taxes, assessment., insurance ti
<br />pre miums and ground rents and the deposlte hereunder within 10 days arter demand is made upon Mortgagor requesting i
<br />payment thereof. i
<br />G. Repair, Maintenance and Ilse. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Properly; to keep the Properly in good condition and repair. without waste, and free from mechanic's or #p''
<br />other liens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimim
<br />ish or impair the value of the Noperty by any act or ornission to act; and to comply with all myunrement-s of law with
<br />rr%peetto the Properly.
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