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<br />83;.....001565
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<br />MORTGAGE
<br />
<br />This Ml>rtgage is.enteredintl> between
<br />
<br />KIRK G. AmDlD. and HANnA D. ARNOW, Husband and
<br />
<br />
<br />_ (herein "Ml>ttgagl>r") and
<br />
<br />Nebraska
<br />
<br />(herein "Mmtgagee"),
<br />
<br />Mortgagl>r is indebted tl>' Ml>rtgagee in the principal sum of $ 52, 000,00
<br />
<br />, evidenced by Mortgagm's note
<br />
<br />dated March 28, 1983
<br />
<br />(herein "Nl>te") providing for payments of principal and interest, with the balance of the
<br />
<br />indebtedness, if not sooner paid, due and payable on SP,ptf'mhPr?fl 19R~,
<br />
<br />"!!Xmentl>f the Nl>te, with interest as prl>vided therein, the payment l>f all other sums, with interest,
<br />'Yl>"~ \.!i~ security or this Mortgage, and the perfl>rmance l>f the covenants and agreements l>f
<br />. ff~ ~~got<.does hereby ml>rtgage and Cl>nvey tl> Ml>rtgagee the fl>lIl>wing described
<br />
<br />n~~_lt1l'''''''~'~~"'''"' Cl>unty, Nebraska:
<br />
<br />
<br />property ll>Cated in
<br />
<br />lot Five (5) in Block One Hundred Thirty Eight (138)
<br />in Union Pacific Railway Canpany' s Second Addition
<br />to the City of Grand Island, Hall County, Nebraska.
<br />
<br />T<>gether with all buildings, improvements, fixtures. streets, alleys, passagew.ys, easements, rights, privileges and
<br />appurtenances 1l>C.ted therel>n or in .nywise pert.ining thereto, and th., Il'nts issues and profits. reve",ions and remainders
<br />thereof; including. but nl>t limited tl>, heating and cOl>ling equipment and such pe",onal property that is attacbed tl> the
<br />improvements so as to constitute . fixture; .11 of which, includlll~ Il'pl.cements and additions thereto, is hereby declared
<br />to be a part of the real estate secured by the lien of Ihis Mortgage and .11 of the foregl>ing being referred to herein as the
<br />"Property",
<br />
<br />Mortgagor further convenants .nd agrees, with Mortgagee. as follows;
<br />
<br />1. Payment. To pay Ihe indebtedness .nd the inten>st th.'reon as pW"lded in this Mortgage and the Note,
<br />
<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 .nd prior lien on the I'roperty, except as m.y otherwise be set forth herein.
<br />
<br />o The Property is subject to. Mortgage wherein
<br />
<br />is the Mortgagee, recorded.t Book _, Page __.__ _ _ "llhe Mortgag.' Rct'ords of .____._Cl>unty,
<br />Nebraska, which Mortgage is a lien prior 10 the lien r....ted h.....by
<br />
<br />o Other prior liens orencumbrances:..__
<br />
<br />3. Taxes, Assessments. To pay when due all tax.... special assessments and .11 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 be sufllcient tl> enable the Mortgagee to pay such taxes. assessments or other charges lIS they become due,
<br />
<br />4. Insurance. Tl> keep the in.provements Dl>W or hereafter located on the real estate described herein insured
<br />against d4IDage by lire and such l>ther hazards as Ml>rtgagee may require, in Bml>unts and with compani~, .cceptable 10 the
<br />Mortgagee, and with 1l>SS payable to the Mortgagee, In case of loss under such polides the Mortgagee is .uthorized to
<br />adjust. collect and compromiie, in its discretion, all claims thereunder at its sole option, authorized to .;th.'r apply the
<br />pmcet\ds to the restoration of the Property l>r upon the indebtedness secured hereby, but payments hereunder shall con.
<br />Ii"",,, Ul\til thesWllSsecured hereby llJ'I.' paid in full.
<br />
<br />, . . 5. 0 Esorow FOI' Taxes and 1_, Notwithstanding anything contained in paragraphs 3 and 4 hereof tl> the
<br />eoIItItI;y.MGrtcacor shall pay to the Mortgacee at the time l>f paying the ml>nthly installments l>f principal.nd interest.
<br />Olle-twelftb l>fthe yeady. taI\es, Mse66ments, hazard insurance premiums. and ground rents <if any) which m.y attain a
<br />prIorUyov&r thls~, a111li l'NOOIIably estimated from time to time by the Mortgagee, The amounts so paid shall be
<br />~,by ..""" :!rtol'tgIgee. witll.OII/,lnb!reM and.appIk!d 10 the paym~t of the items in respect 10 which such aml>unts were
<br />~. The 5ll11l1l paid to ~.hen!Ullder are pledaedas additional security fl>r tit(, indebtedness secured by Ihis
<br />~ ~roball pay. (o,M~ ~ 8lIlOIUlt of any deflclency belween the actual taxes, _ments, insuran""
<br />~:qd. ~d_ts GeU,", depollila he_der within 10 da)'S after demand. I' mad<> upon Ml>rtlagQr requt!!ltine
<br />(llIY1lIeiIt ~
<br />
<br />6.......MainlAlllal\Clelllld UN. To.Jll'Qmptly repair, restore or ...build any buildings or improvemenlo (lOW or
<br />~un .th. ~Y\ to. It..., the ~y)n aood c:onditionand repair, without ..ute, and f_ from mechanic', l>f
<br />otMI'.oo\.~~tedlO thellu ,",",,(;not to mati, wUt>r or permit any nuisance to ""ist, nor to dimin,
<br />ilIII,Ol'lmpalf U- ,*' 01 thel'r9perty by any lll:I or ~0lI10 act; audll> comply wllh all requirem..nts of law with
<br />~Iothe~.
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