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FREAL ESTATE MORTGAGE
<br />THIS MORTGAGE is entered into between JERRY E. LANTZ, a
<br />single person, and VEL14A C. A. LANTZ and FORREST E.
<br />LANTZ, husband and wife, each in his and her own interest,
<br />individually and collectively referred to as "Mortgagor ", and
<br />HANK OF WOOD RIVER, Wood River, Nebraska, hereinafter referred to
<br />as "Mortgagee ".
<br />Mortgagor is indebted to the Mortgagee in the principal sum
<br />of SEVENTEEN THOUSAND DOLLARS ($17,000) evidenced by Mortgagor's
<br />Note of even date herewith, providing for principal and interest
<br />with the balance of the indebtedness, if not sooner paid, due and
<br />payable on December 1, 1991.
<br />To sdcure the payment of the Note, with interest as
<br />provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgage,
<br />and the performance of the covenants and agreements of the
<br />Mortgagor contained herein, Mortgagor does hereby mortgage and
<br />convey to Mortgagee the following - described property located in
<br />Hall County, Nebraska:
<br />Lot Nine (9), Argo Fourth Subdivision in the
<br />Village of Alda, Hall County, Nebraska, known as
<br />No. 9, Venus, Alda, Nebraska,
<br />together with all buildings, including a 1974 Trenton 14' by 70'
<br />mobile home, Identification No. C -256T, improvements, fixtures,
<br />easements, rights, privileges and appurtenances located thereon
<br />or in any way pertaining thereto, and the rents, issues and
<br />profits, reversions and remainders thereof; including, but not
<br />limited to, heating and cooling equipment and such personal
<br />property as attached to the improvements so as to constitute a
<br />fixture; all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate
<br />secured by the lien of this Mortgage and all of the foregoing
<br />being referred to herein as the "property ".
<br />Mortgagor further covenants and agrees as follows;
<br />1. Payment. To pay the indebtedness and the interest
<br />thereon as provided in this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the property and has
<br />the right 510-authority to mortgage the property and warrant that
<br />the lien created hereby is a valid first mortgage on the prop-
<br />erty.
<br />3. Taxes, Assessments. To pay when due all taxes, special
<br />assessments and all other c arges against the property and, upon
<br />written demand by Mortgagee, to add to the payments required
<br />under the Note secured hereby, such amount as may be sufficient
<br />to enable the Mortgagee to pay such taxes, assessments or other
<br />charges as they become due.
<br />4. Insurance. To keep the improvements now or hereafter
<br />located on M real estate described herein insured against
<br />damage by fire and such other hazards as Mortgagee may require,
<br />in amounts and with companies acceptable to the Mortgagee and
<br />with loss payable to the Mortgagee. In case of loss under such
<br />policies, the Mortgagee is authorized to adjust, collect and
<br />compromise, in the discretion of the Mortgagee, all claims
<br />thereunder at Mortgagee's sole option and to apply the proceeds
<br />L upon the indebtedness secured hereby with payments hereunder
<br />continuing until the sums secured hereby are paid in full.
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<br />5. Repair, Maintenance and Use. To promptly repair,
<br />restore or rebull 3c3 ny U-u3=1rigs or improvements now or hereafter
<br />on the property; to keep the property in good condition .in(]
<br />repair, without waste, and free from mechanic's or other lions
<br />not exF,ressly subordinated to the lien heiFof; not to make,
<br />suffer or ccottmut any nuisance to oxi ;t n: to diminr::ti
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