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83-ui-065~.
<br />MORTGAGE
<br />This Mortgage is entered into between _ Vi_. *~ni a i~R T rrkach T
<br />(herein "Mortgagor"} and
<br />'Ihe Overland National Bank of Grand Island ___.____ -(herein '`Mortgagee").
<br />Mortgagor is indebteJ to tviortgagee in the principal sum of ~ 4 ~ lq$ • 59 ,evidenced by Mortgagor's note
<br />Feb. 4, 1983
<br />dated ~ ._~~__ ___~ (herein "Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on F@b_lOth , 1987 •
<br />Toseeure 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 Ht~l --- County, Nebraska:
<br />Iot Three (3), In Block Seventy-Three (73), in Wheeler and Betmett's
<br />Thir Addition to the City of Grand Island, Hall County, Nebraska.
<br />Together with atI buildings, improvements, fixtures, streets, alle}°s, 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 egmpment and such personal property that is attached to the
<br />improvements so as to constitute a Gstum; all of which, including replacements and additions thereto, is hereby declared
<br />to be a part of the rest estate srrcured by the hen of this Mortgage and all of the fomgomg being referred to herein as the
<br />..I,t,~rty„
<br />Mortgagor further convenants and agrees, wdh bortgagee, as fotk,ws:
<br />1. Payment. To pay the indebtedness and the interest thereon as provided m this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property. has the nght and authority to mortgage the Property, and
<br />warrants that the lien created hereby is x first and prior tier on the Property, except as map otherwise be set forth herein.
<br />^ The Property rs subject to a Mortgage wherein
<br />is the Mortgagee, recorded at Hook -------_-- • Page _ -. of the Mortgage Records of _-_._-____ County,
<br />Nebraska, which Mortgage is a Tien prior to the Lien created hereby.
<br />C~ Other prior liens or encumbrances; ___--._-_ -.. -. .. ._ _ --- -_-_-_ -- _--_ .--
<br />3. Taxest Assessments. To pay when due ail taxes, special assessments and all other charges against the Property
<br />and, upon written demand by Mortgagee, Go add to the payments required under the Nate secured hereby, such amount as
<br />may ba sufficient to enable the Mortgagee Lo pay such taxes, assessments or other charges as they become due.
<br />4. insuasnce, To keep the improvemenLS now or hereafter located on the real estate described herein insured
<br />againstdaznage by fire and such other hazards a, Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee; and. with-loss payable to the Mortgagee. hi case of loss under such policies Lhe Mortgagee is authorised to
<br />.adjust, collect: andeompromissn, in its discrntion, al} claims thereunder at its sole option, autharizedtoeitherapply the
<br />pmt~eds to 6he restarat(on o[ the Property er upon the indebtedness secured hereby, but payments hereunder shall can'
<br />itarre .until-the suttts sneered hereby are paid in full.
<br />- S: ~ Hscrow Far Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and d hereof to the
<br />etrritrargr Mayor shall pay to the lkfortgagee at the time of paying the monthly installments of principal and intermit,
<br />nne-twaNth of .the- yeady taxes, assessments, hazard insurance premiums, and ground rents (ii any} which may attain a
<br />priority aYer #3tls hiwtgage, all as reasonably estimated from time to time by the bortgagee. The amounts so paid shaft be
<br />isrtd by -the ;tiorrgagee without interest and applied t{t the paymene of the items in respect La which such amounts were
<br />de',~{rs:tad<'k'61-sums paid- to Mortgagee-hereunder are pledged as additiotutt security for the indebtedness secured 6y this
<br />Mort~c. tftitrtgagor ~ratll }tnty to kfiartgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />promiutRx artd ~raund Tents-and the deposits hereunder. within is days after demand is made upon Mortgagor requesting
<br />- pttyrriepit'thereot:•
<br />fi.. Rtt~ivrar; Afxtntenaacte and (Jae: 7'n promptly repair, restore at rnbuild any buildings ar improvements now or
<br />h~t on.3hrr prapartY;, to heap the Property in gaud eandl4ton and repair. without waste, and fret from machanic•'s ar
<br />ott3aras n+>x eatprtss3}+ subordiriatic?d to the lien hcrtwf; nut to make, suffer ur permit any nuisanc•t to exist, nor to dimin-
<br />lap err iat~rir-gh+• .aloe of the Pre:prrrty by any ac6,or omission to act; and ter c<nnpiy with alt rrqufrentents of law with
<br />t to tfirpPeuP~rrty.
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