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IN MORTGAGE 85- 004297 Twill Moefgagabsa4aad into letwees Titnothv J. Ellenwood and Pamela S. Ellenwood, Rusbaad and Wife (herein "Mottgagot")and Five Points Bank _(l—ein "Mortp$ -"). mompvw is lindebud to rti9r4 me is the peba3pal sum of i f 5 , 000 , oo , evidenced by mortgagor s note dalsd. _ 8-27-85 (barain «Dote ^) pundit for payments of principal and iatemst, with the b4mom of the latishleia , if mat sooner paid, des and payable on.-12-26-85 To cum the patymaot of Nee likfte, with Mtiaest as provided therein, the payment of aIl other tamuc, with iateraet. trisasrsat by ltwrap" to leniaet the security of this Mortgage, and the performance of the coscaanta and harts of tie Mwyyor aowgktad bemm, Mortgagor does hereby mortp{C and convey to Mortpgee the fopowing described pngmty Wanted in Halt city, Nebrauts: l.ot. Seven t7 ?, Eagle Lake Estates Subdivision, Grand island, Ball County, Nebraska Tapsher with aR builder, improvements, fixtures. Streets, alleys. passageways, r asenwr ts, rights. priviiepes and heated therm or is anywise peetaitring thereto, and the rents iwut� and profits, reversions and remaiadas glmmef; including, but not limited to, hemming and cooling equtparnit and such personal proprrtY that k attached to the itWasarwoo so as to constitute a flzture; &It of which, inetuding rrowirrewrita and additions thereto. is hereby decreed to be a part of the " estate secured by the Bert of this Mort.gagp and all of the foregoing being referent to herein as the '.Y «. Maetpgor furttwr eonvenants and agrees, with Mortgagee. as foitow5: 1. Payment. To pay the indebtednem and the intete.t therecxn as provided in this ]Mortgage and the Note. Z. Title. Mortgagor is the owner of the PnWny , has the right and authority to mortgW the Property, and tannaot► that nhr lien erested hereby is a fast and pnor hen on the Prnp -r15 . exeept at+ may otherwise be set forth txeeia. V The Pro¢My is subpwj to a M� k'tt�rrirl as 1� aC'. u—t ii r flit Mw ppr. n— worded xv@Ia t.x g� WX of the MortgAte Records of Niabasia, which Morrow is a lint prior to the twn created hemh> . D' Other price liens or eneumbratnces:.__ - -- -._- -- --- - -- ._.._ i. Taus. A wmmm m4e To pay when due all taxes, aprcial mmsswnts and an other dmwr s against the Yroperty and,, upat wnWe demand by Mortpgee, to add to the payttwnts required tinder the Note secured hereby, such amowrt as Only ire autptanut 16 arable the Mortgagee to pair such taxes, assessments or other charges as they become due. 4. 1almeaaae, To " the improveaaemts now or hereafter located on the real restate described herein insured 64PNa rs aw by fife and Seth other hazards as mottpgee tray require, in amounts and with rmpanies acceptable to the Mamlogee, and with kiss payable to the Mo npsgee. to case of lose under iw h policies the MOKP ee is authorized to 0, oaliatI and compromise. its its discretion, all ctsirm thereunder at its sole option, authonzed to either apply the paeteal& is, dw 4attltma jon of the Anperty oe spun the indebtedness secured hereby, but paymemts bvww w *40 cos- linmf isatil tow wAm tieuwv d besebl' are paid to M. s P P