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<br />MORTGAGE 85-. 004181
<br />This Mortgage is entered into between Clarence Padrnos
<br />(herein "Mortgagor") and
<br />Five Points Bank (herein «Mortgagee").
<br />Mortgagor Is Indebted to Mortgagee in the principal sum of $ 1 � sue_ , evidenced by Mortgagor's note
<br />dated 8127/85 (herein "Note ") providing for payments of principal and interest, with th. balance of the
<br />ladebbidness, It not stoner paid, due and payable on 11 / 25.(8
<br />Toseem the payment of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanroad by Mottgape'to protect the wesrity 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 Hatt s Cana County, Nebraska:
<br />Lot Fourteen (14), Capital Heights Fifth Subdivision, Hall County, NF.
<br />and
<br />North Half of the Southwest Quarter (N }SWi) of Section Ten (10), Township
<br />Twenty Three (23), Range Six (6) Cuming County, NE
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenanees located thereon or in anywise pertaining thereto, and the rents issues and profits, reversions and remainders
<br />tbersof; including, but not limited to, heating and coding 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 />.11voperty„
<br />Mortgagor further convenants and agrees, with Mortgagee, as follow,:
<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 he set forth herein.
<br />is The Property is subject to a Mortgage wherein .._Oinalia National Hank of Grand Island
<br />is the Mortgagee, recorded at Book..---,---,- _.. , page.., of the Mortgage Records of _-- _ —._Ha 11 ^. County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby
<br />0 Other prior liens or encumbrances:_.____.
<br />S. Tams, 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 wfMient to enable the Mortgagee to pay such taxes, a soruments or other charges as they become due.
<br />4. laaraaece. To keep the improvements now or hereafter located on the real estate: described herein insured
<br />agtt A damage by Are and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mertgagae, and with loss payable to the Mortgagee. In case of toss under such policies the Mortgagee is authorized to
<br />ad}at, coped and compromise, in its discretion, all claims thereunder at its sole option, authorized to either apply the
<br />pr at A. to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con•
<br />Mines until the sums secured hereby am paid in full.
<br />5. 13 Kafter Fear Tea said IIMWMae. Notwithmariding anything contained in paragraphs 3 and 4 hereof to the
<br />eoatleey, Mortpgor abdl pay to the Mortgagee at the time of paying the monthly installments of principal and Interest,
<br />taaatweltth of the ysaly taxes, awnsirrents, hazard insurance premiums, and ground rents (if any) which may attain a
<br />pdatty over tkk Mortgage, all as raeonably estimated from time to time by the Mortgagee. The amounts so paid &hail be
<br />hdti by Hie MorlipW without interest, and applied to the payment of the items in respect to which such amounts were
<br />dspetil" The meta paid to Mortppw herem+der we pledged as additkmal security for the Indebtedness secured by this
<br />llattt#W, Mwtgagorrandl pay to Mortgagee the amount of any deficierney between the actual taxes, assessments, Insurance
<br />peen"ass and Poem rents and the deposim hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment tbervel,
<br />6, Ropak. Mal&ttensace and LW. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hens( r on the Property; to keep the Property in good eorAtion and repair, without waste, and free from mechanic's or
<br />oth IWO not expressly submthruated to the lam hereof; not to make, suffer or permit any nuisance to exist, nor to dimin
<br />Halt or impair the wWw of the property by any act of omtaiem to art; and to comply with all nrquirementc of law with
<br />reaprd ro the Properly.
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