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<br />MORTGAGE 85-.w 005828
<br />This Mon" is entered into between R11aaoI I r. navia Ann c';rnrhia H navla
<br />(herein "Mortgagor") and
<br />FIVE POINTS BANK (herein "Mortgagee ").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 7 6 , 7 4 0. 0 0 , evidenced by Mortgagor's note
<br />dated 10 / 11 / 85 (herein "Note ") providing for payments of principal and interest, with the balance of the
<br />ladebkdness, if not sooner paid, due and payable on 10/11/88
<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 />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located in Hall . County, Nebraska:
<br />an undivided one -third (1/3) interest in Office Unit D in the Grand
<br />Island Doctors Building Condominium Property Regime, Lot 1,
<br />Saint Francis Medical Subdivision, City of Grand Island, Hall
<br />County, Nebraska, as defined in the Master Deed creating Grand
<br />Island Doctors Building Condominium Property Regime, incorporated
<br />herein by this reference.
<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 as the
<br />"Property'.
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />1. Payment. To pay the indebtedness and the interest Lt.. -eon 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 />wanarits that the lien created hereby is a first and prior lien on the Property. except as may otherwise be set forth herein.
<br />N The Property is subject to Mortgage wherein ___. -. Five Points- $arjr_
<br />Doc. #80P 005678
<br />Mortgagee, recorded at 1316i1f1'K ___�_..__ , age _ _ _ _ _-. _ _ o
<br />is theI the Mortgage Records of ______ _ —`— _____ County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby
<br />0 Other prior liens or encumbrances:___.._.___
<br />3. Taxes, Assessments. To pay when due all taxer, 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 to eitherapply the
<br />proses& 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 />S. 0 Escrow For Taxes and insurance. Notwithstanding anything contained in paragraphs 3 and 4 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 of 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 />bald 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 />Mortgage. Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiunnt and ground rent& and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />peyment thereof.
<br />4. li"mir, Maintenance and [Joe. To promptly apir, restore or rebuild any buildings or Improvements now or
<br />hereafter cm 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, suffer or permit any nuisance to exist, nor to dimin-
<br />iah or impair the value of the Property by any art or omission to act; and to comply with all n•quirenlents of taw %ith
<br />respect to the troperty.
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