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X34 "'-+~i:~GQCI `75
<br />MORTGAGE
<br />This Mortgage is entered into between Malvin W. Meyer,
<br />joined pro forma by _,Tc Ann Meyer, his wife, and Milford
<br />R. Nielsen, joiried pro forma by Jacciuelyn Nielsen, his wife,
<br />(herein "Mortgagor"), and Charles 0. Bosselman and Elizabeth
<br />G. Bosselman, husband and wife, as joint tenants and not as
<br />tenants in common, (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of
<br />One Hundred Thousand Dollars ($100,000.00) evidenced by Mortgagor's
<br />Note,-dated January 5, 1983, (herein "Note"), providing for pay-
<br />ments of principal and interest, with the balance of-the indebt-
<br />edness, if not sooner paid, due and payable on January 5, 1985.
<br />To secure the payment of the Note, with interest as provided
<br />therein, the payment of all other sums, with interest, advanced
<br />by Mortgagee to protect the security of this Mortgage, and the
<br />performance of the covenants and agreements of the Mortgagor
<br />contained herein, Mortgagor does hereby mortgage and convey to
<br />Mortgagee the following described property located in Hall County,
<br />Nebraska:
<br />Lot Seven (7) in Bosselman Brothers' Sub-
<br />division in the City of Grand Island, Hall
<br />County, Nebraska.
<br />Together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in anywise pertaining thereto, and the ren. ,
<br />issues and profits, reversions and remainders thereof; inaludi.ig,
<br />but not limited to, heating and cooling equipment and such personal
<br />property that is attached to the improvements so as to constitute
<br />a fixture; all of which, including replacements and additions
<br />thereto, io hereby declared to be a part of the real estate secured
<br />by the lien of this Portgage and all of the foregoing being referred
<br />to herein as the "Froperty".
<br />Mortgagor further covenants and agrees, with Mortgagee, as
<br />follows:
<br />1. Payment. To pay the indebtedness and the interest thereon
<br />as provided in this ;•lortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, has the
<br />right and, authority to mortgage the Property, and warrants that
<br />the lien created hereby is a first and prior lien on the Property
<br />except as may otherwise be set forth herein.
<br />3. Taxes, Assessments. To pay when due all taxes, special
<br />assessments and all other charges against the Froperty and, upon
<br />written demand by Mortgagee: to add to the payments required under
<br />the Note secured hereby, such amount as may be sufficient to enable
<br />the Mortgagee to pay such taxes, assessments or other charges as
<br />they become due.
<br />4. insurance. To keep the improvements now or hereafter
<br />located: on tie real estate described herein insured against damage
<br />by fire and other such hazards as Mortgagee may require, in amounts
<br />and with companies acceptable to the Mortgagee, and with loss
<br />payable to the Mortgagee. In case of loss under such policies
<br />the Mortgagee is authorized to adjust, collect and compromise,
<br />in its discretion, all claims thereunder at its sale option,
<br />authorized to either apply the proceeds to the restoration of
<br />the. Property ar upon the indebtedness secured hereby, but payments
<br />hereunder shall eontiaue until the sums secured hereby are paid
<br />in. full..
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