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<br />I
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<br />MORTGAGE
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<br />83.....00186$
<br />
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<br />T1iis Mortgage Is entered into between Rarry D, Snith and Shirley L. Smith,- Husband
<br />and Wife (herein "Mortgagor") and
<br />'l'hEl' Overlan:d National Bank of Grand Island, GrandIsland, Nebraska (herein "Mortgagee"),
<br />
<br />Mortgagor is indebted to'~Mortgagee in the principal sumof$ 6,233 14
<br />
<br />, evidenced by Mortgagor's note
<br />
<br />4-la-83
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<br />(herein "Note") providing for payments of principal and interest, with~the bmnceofthe
<br />
<br />indebtedness, if not sooner paid, due and payable on
<br />
<br />4-15-85
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<br />To securetlie 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 containelL herein, Mort,gagor does hereby mortgage and convey to Mortgagee the following described
<br />
<br />Property located in
<br />
<br />Hall
<br />
<br />County, Nebraska:
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<br />The East Half of IDts 136 and 137 in Bellront Addition to the
<br />City of Grand Island, Hall County, Nebraska.
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<br />Together with all buildings, improvements, lixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anYwise pertaining thereto, and thp rents issups and prolits, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling equipm..nt and such personal property that is attached to the
<br />improvements so as to constitute a lixture; 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 th.. foregoing heing referred to herein as the
<br />uProperty".
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<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
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<br />1, Payment, To pay the indebtedness and the interest thereon as provid..d in this Mortgage and the Note,
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<br />2, Title, Mortgagor is the owner of the Prope,ty, has th.. right and authority to mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior lien on th.. Property, except as may otherwise be set forth herein,
<br />
<br />o The Property is subject to a Mortgage wherein
<br />
<br />is the Mortgagee, recorded at Book _ , Page _~___ of the Mortgage Records of ___ _ County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hN,'by,
<br />
<br />o Other prior liens or encumbrances:_____.__ _ _~"~_ ~___~.__
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<br />3, Taxes, .Assessments. To pay when due all taxes, special assessments and all 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 />lI!ay be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due,
<br />
<br />4. Insurance,. To keep tbe improvements now or hereafter located on the real estate described herein insured
<br />against damage by fire~ and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee, In case of loss und..r such policies the Mortgagee is authorized to
<br />adjust,collect and compromise, in its discl1'tion, all claims thereunder at its sole option, authoriz..d to either apply th..
<br />pmceedsto the .restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shull con.
<br />tinue UIitil the sums secUl'edhereby are paid in full.
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<br />5.. 0 Escrow For Taxes and Insurance, Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contraJ:y, Mortgagor shall pay to the Mortgagee at the time of. paying the monthly installments of principal and interest,
<br />OJie,.twelfth of tJle.yeallY lues, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />p;riority.Qvertbis cMortgage, all as reasonably estimated from time to time by the Mortgage.., The amounts. so paid shall be
<br />h~d by.theMortgagee,WithouHnteresland applied to the payment of the items in resJl<'Ct to which such amounts were
<br />dltl>oaited,'f\lesllnis paid to Mort\ll!Kl'C hereunder are pledged as additional ,security for the indebtedness secured by this
<br />~. MoTtgag9rghall pay to Mortgagee the amount orany deficiency betweenlhe actual taxes, assessments, insurance
<br />Plemiums lU\d grouadrents and the depll$itshereunder within 10 days after demand is made upon Mortgagor requesting
<br />P,aYl1ll.ln,t tl\8reof.
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<br />i;,~.MaintenJllce and Use, T9 promptlyrepwr, restore or rebuild any huildings or Improvements now or
<br />bewafler'Oll tlu\~perty; to keep tlle!'toperty ingooocondltion apd repair, without waste, andfree from mechanic's or
<br />oUwr~~Il6~e~r:i!llS1y sUllord\rnlted' to th..lienhl!lll<)f.; nottoll1ake, soffer or permit any nuisance to exist, nor to dimin.
<br />lsboriuipa/rtbe ,<a!Ujl Qrtbe Property by any act or omission to act; and to comply with all requirements of law with
<br />~t.tol.be1'mperty.
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