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In
<br />MORTGAGE 85— 004978
<br />This Mortprge is entered into between Nary Jean Stumpff, Trustee of Trust A
<br />(herein "Mortgagor") and
<br />Broken Bow State Bank, Broken Bow, HE (herein "Mortgagee ").
<br />Mortpgor is indebted to Mortgagee in the principal sum of $ 1 a6 - 100.00 ,evidenced by Mortgagor's note
<br />dated ,. 3, ,1985 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />Indebtedness, if not sooner paid, due and payable on 12 -1 -1987
<br />Tosecure the paymentof the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advaseed by Mortpgae to protect the security 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 _. Hall County, Nebraska:
<br />The West Half of the Northwest Quarter (AXW%) and the West Half of the
<br />Southwest Quarter (O'SW`4) of SectionThirty —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, 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 real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein s the
<br />•'?roperty".
<br />Mortgagor further coneenants and agrees, with Mortgagee, as follows:
<br />1. hyntent. 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 herebv is a first and prior lien on the Property, except as may otherwise be set forth herein.
<br />none
<br />0 The Property is subject to a Mortgage wherein _---------------------
<br />4 the Mortgagee, recorded at Book .Page ----------- of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />0 Other prior liens or encumbrances : - -_---- - -- - - -- - ___.- _ - -- -- _.- - - - -_ -- - - - --
<br />S. 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 />ssy be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. lewranee. 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 low 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 to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />rinse until the suits secured hereby are paid in full.
<br />S. 0 Facrow For Tastes and Insurance. Notwithstanding anything contained in panagraphs 3 and a hereof to the
<br />contrary, 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 Mortppe without interest and applied to the payment or 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 />Mor4W. Mortgagorshalk pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />b. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to keep the Property in good condition and repair, without waste, and free from mrchanic's or
<br />otherliens not expressly subordinated to the lien hereof; not to make. suffer or permit ally nuisance to exist. nor to dimir
<br />M or impair the value of the Properly by any act or omission to act; and to comply with ail requirements of law with
<br />respect to the Property.
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