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<br />MORTGAGE 8~~ V U08 ! Q
<br />This Mortgage is entered into between Lavern D. Scarborough and Theresa A.
<br />Scarborough, Husband and Wife (herein "Mortgagor") and
<br />FIVE. POINTS BANK (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ t 25 , OQO 00 ,evidenced by Mortgagor's note
<br />dated 219183 (herein "Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on 818 / 83
<br />To;ecure the payment-of,the Note, with interest as provided therein, the payment of al! other sums, with interest,
<br />advanced hp'Mortgagee_to;pmtect'the security of this Mortgage, and the performance of the covehants and agreements of
<br />the Mo~tgagep;-coq~ait'iec~_hereiiist,Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />propertg located in Hall County, Nebraska:
<br />A part of the South Half of the Northwest Quarter of the Southwest Quarter (S'~NW'-~SW34):of
<br />Section 'T`hirty-Three (33), Township Twelve (12} North, Range Nine (9), West of the 6th
<br />P.M. in Hall County, Nebraska, more particularly described as follows:
<br />Beginning at a point 655.41 feet South and 66 feet East of the Northwest corner of sad'-
<br />Southwest Quarter {SW~) thence running parallel to and along and upon the North line of
<br />said Southwest Quarter (SW~), a distance of 1,256.50 feet, thence running South on .the
<br />East line of said Northwest Quarter of the Southwest Quarter (NW'-tSWis), a distance of
<br />490.44 feet; thence running [lest parallel to the North line of said Northwest Quarter of
<br />said Southwest Quarter (NW%SW4), a distance of 497.42 feet; thence turning at right
<br />angles and running North parallel to the East line of the Northwest Quarter of the
<br />Southwest Quarter (NW%SW~), a distance of 283.75 feet, thence running West 757.37 feet
<br />parallel to the North line of said Northwest Quarter of the Southwest Quarter (NW'~SW'-L)
<br />to a point 66 feet East of the West line of said Northwest Quarter of the Southwest
<br />Quarter (NW'ZSW'-~); thence running North parallel to the West line of said Northwest
<br />Quarter of the Southwest Quarter (NW'iSW~), a distance of 207 feet to the point of
<br />beginning.
<br />Together with alI buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and pmtits, reversions and remaindein
<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 hereinas-the
<br />„~perty„
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />1. Payment. 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 hereby is a first and arior lien on the Property, except as may otherwise be set forth herein.
<br />The Property is subject to a Mortgage wherein
<br />is the Mortgagee, recorded at Book ,Page of the 6ortgage Records of County,
<br />Nebtsska, which Mortgage is a lien prior to the Lien created hereby.
<br />D Other prior (lens or encumbrances:
<br />8. Taxes, Aseessments. To pay when due all taxes, special assessments and ail 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 tae sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4. Insurance. Ta keep the improvements now or hereafter located on the real estate described. herein insured
<br />against damage by fire and such ether hazards as Mortgagee may inquire, in amounts and with companies acceptable to the
<br />Mortgagee, and with Ines payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorised to
<br />adjust, collect and compromise, in its discretion, alt 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 />tinue uatil the sums secured hereby are paid in full.
<br />5. ^ Encrow Pas Taxes and Durance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />coattary, Mortgagor shall gay m the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-tvielfth-of Eire yeasty taxes, assessments, haaard insurance premiums, and ground rents {if any) which may attain a
<br />priority over this Mortga~, alt as-zeasonably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />herd try 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 />Ir~t4gage.MortgagorahaUp~pt to Mortgagee the amount of any deficiency between the acWal taxes, assessments, insurance
<br />premiums tlnd gtEirtnd rants. and the deposits horeunder wiUtln i0 days after demand Is made upon Mortgagor requesting
<br />payment thereof..,
<br />fi. RtFpair, Maintanaace sad Use, To promptly repair, restore or rebuild any buddings or improvements now or
<br />heraatter on tM Property; to keep the Property in goad condition and repair, without waste, and free hom mechanic's or
<br />ether fly n~ rrtpreasty saGxrtdlnated to the lien hereof; not to make, suffer ar permit any nuisance to exist, nor to dimin-
<br />taA ar lmg~dr ttte value of star Property by any set or omission to act; and to comply with all inquiinnrents of law with
<br />reslwct to the Property.
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