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<br />
<br />MORTGAGE
<br />
<br />83.-\}O0999
<br />
<br />r
<br />
<br />TIlisMortgage is entered into' between
<br />andWUe
<br />The Ovei'lan'dNational Bank of Grand Island, Grand Island,
<br />
<br />Robert D. Kutz and Marla M. Kutz,. Husband
<br />
<br />NE
<br />
<br />(hereil! "Mortgagor") and
<br />(herein "Mortgagee"):
<br />, evidenced by Mortgagor's note
<br />
<br />Mortgagor is indebted to' Mortgagee in the principal sum of $ 72 ,000. 00
<br />
<br />dated :Feb. 21, 1983 (herein "Note")providing for payments of principal and interest, with the balance of the
<br />
<br />indebtedness, if not sooner paid, due and payable on Aug,. 24, 1983
<br />
<br />To secure the payment of the Note, with interest as provided therein, the payment of all other sums, withinte1't!St.,
<br />advanced by Mortgagee to protect the security of this Mortgage, and the performance of the covenants and 8greements of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the. following. de.scribed
<br />
<br />property ll)Cated in Hall County, Nebraska:
<br />
<br />lot Four (4) in Block Ten (10) in University Place,
<br />of Grand Island, Hall Connty, Nebraska, Subsequent
<br />
<br />lot Two (2) in Block Ten (10) in university Place, an Addition to the City of
<br />Grand Island, Hall County, Nebraska, subsequent to April 3m, 1970 at 8:00.A,M;
<br />
<br />
<br />Together with all buildings, improvements, fixtures, streelS, alleys, passageways. easements, rights, privileges and
<br />appurtenances located thereon or in anywise pe,taining thereto, and lh,' n'nL' issUl's 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 d~ared
<br />to be a part of the real estate secured by the lien of this Mortgage and all of the fnregoing being referred to herein as the
<br />"Property",
<br />
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />
<br />1. Payment. To pay tbe indebtedness and the interest thereon as provided in this Mortgage and the Note.
<br />
<br />2, Title, Mortgagor is the owner of the Property, has lhe right and authority to mortgage tbe Property, and
<br />warrants that the lien created bereby is a first and prior lien on the Property, "Xt-ept as may otherwise be set forth berein.
<br />
<br />o The Property is subject to a Mortgage \Vherem
<br />
<br />is the Mortgagee, recorded at Book__. Page __._ . of the Mortgage Records of _
<br />Nebraska, wbich Mortgage is a lien prior to tbe lien ,'n'ated hl'n'by,
<br />
<br />County,
<br />
<br />o Other prior liens or encumbrances; _ w ,_.
<br />
<br />3, Taxes, Assessments. To pay when due all tax,'s. special assessments and all OthN cbarg"s against tbe Property
<br />and, upon written demand by Mortgagee. to add to the payments requin'd und"r the Note secured h"reby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such ta.,,"s. assessm"nts or other cbarges as they become du",
<br />
<br />4. Insurance, To kl't'p the improvemt'llts now or hereafter located on the real estate described herein insured
<br />against damage by fire and such other hazards as lItortgaget' may require, in amounls and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee, In "lISt' of loss under sucb policies the Mortgagee is authorized to
<br />adj\\st, collect and compromise, in. its discretion, all claims tbereunder at its sole option, authorized to either apply the
<br />proceeds to tbe restoration of the Property or upon the ind"btedn"ss secured hereby, but payments hereund.r sha!! con.
<br />tinue until the sums secured hereby...", paid in full.
<br />
<br />5. 0 Escrow For Taxes and Insurance, Notwithstanding anything contained in paragraphs 3 and 4 h.reof to the
<br />CQIlUafy' Mortgagor shall pay to tbe Mortgagee at th" lim" of paying the monthly installments of principal and interest,
<br />ODI"-tw.elfth. of the yeady tues, llSSl)ssments, hazard insurance premiutl1$. and ground rents (if any I whicb may attain a
<br />priol'ity. over this Morlgage; all as reasonably estimated from time to time by Ihe Mortgagel', TIle amounts so paid shall be
<br />held ,by the Mortgagee withovt interest and applied to the payment of the it"ms in tI'spect to which such amounts were
<br />ill\poo\ted,. 'lb.l!sUJD$ ~d to Monpgee bereunder are pledged as additional security for the indebtedness secured by this
<br />Mortta&e. M~l)rsliaUpa)' toMortgaget' the amount of any deficien,'y betwe"n Ihe actual taxes, assessments, insurance
<br />pt\l!Jli,u~and ground rents and the deposits hereunder within 10 days aner demand is made upon Mortgagur requ"sting
<br />{lIIyAlenUbereof.
<br />
<br />6. Repalt, MalntelWl!lll...d Use. To prompUy repair, restore or n'build any buildings or improvem.'nls now or
<br />be-rter on.the Property; to keep tbe Property ill good condition and repair. without \Vasil,. and free from mecbanic's ur
<br />otIlerlJ.ma not ..xPf'lS$iy sllbordinaWil to the lien bereof; not to make, suff..r ur permit any nuisant-e to exist, nor to dimin,
<br />i&h otimpalr thevalUtl of the Property by any ad or (,mlosion to Aet; and t\l cOIuply with all t\'quirements of law with
<br />""'I"'Cl to llle Property.
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