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<br />MORTGAGE
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<br />83-4.101891
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<br />ThiS MQrtgage is entered into between
<br />
<br />Kirk G. Arnold
<br />
<br />r
<br />
<br />(herein "Mortgagor") and
<br />
<br />CITY NATIDNAL BANK AND TRUST COMPANY, HASTINGS, NEBRAS~/h,rein "Mortgag!!e").
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<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 4 0 , 0 0 0 0 0 ,evidenced by Mortgagor's note
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<br />dated AD r iT 18. 1983 (herein "Note") providing for payments of principal and interest, with the balance of the
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<br />indebtedness, if hot sooner paid, due and payable on J u 1 y 18, 1983
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<br />To secure the payment ofthe 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 perfonnance of the covenants and agreements of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
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<br />property located' in
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<br />Hall
<br />
<br />County, Nebraska:
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<br />Lot 7, Block 3, West North Lawn 2nd Addition to Wood River, Hall
<br />C'ounty', Nebraska.
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<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents. issues and profits, reversions and remainders
<br />thereof; including, but not limited to, heatlng and cooling equipment and such personal property that is attached to the
<br />improvements so as t.o 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 herein as the
<br />~4PropertyU .
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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 provided in this Mortgage and the Note.
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<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 'herehy is a first and prior lien on the Property, except as may otherwise be set forth herein.
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<br />o The Property is SUbject to a Mortgage wherein
<br />
<br />is,the Mortgage.., recorded at Book _, Page _ of the Mortgage Records of
<br />NeliQska. which Mortgage is a lien prior to the lien created hereby,
<br />
<br />County.
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<br />O,Other prior liens or encumbrances:
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<br />L
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<br />3, TlIll:es,Assessments. To pay when due all taxeS, special assessments and all other charges against the Property
<br />arid, upon written demand by Mortgag~, to add to the payments required under the Note secured hereby, such amount as
<br />may be sufficient to enallle the Mortgagee to pay such taxes, assessments or other charges as they become due,
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<br />4. 1_. To keep the improvements now or hereaiter located on the real estate described herein insured
<br />apinst cdaJllage by me. and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mo-rtgagee,and with. loss. payable. to lbe Mortgagee. In case of loss under such policies the Mortgagee is authorized to
<br />lUljus~ coIlll!lt and C'1mpromise. in. its discreti()n, all claims thereunder at its sole option, auth9rized to either apply the
<br />proeeedsto.the.restoration.of.the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />tmuelllltillbesUDlSseeure<i berebyarepald in full.
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<br />6, O~w ForTQ;es,and I~ce. Notwithstanding anything contained in paragraphs 3 and.4 hereof to the
<br />'~~,~AilIallpay tQ the Mo~ee at the time of. paying themontbly installments of principal and interest,
<br />~illfthOf. tb,e.yeany tax,es, ~nts, hazard insurance premiums, and ground rents (if any) which may attain a
<br />~. ~~thili,MQttgy" aU~ reasonably,estimated from time to time by the Mortgagee, The amounts so paid shall be
<br />Iwl,d lJy,tlIe,Mort~ Wilb.9!lt inteJ:est and applied to the. payment of the items in respect to which such amounts were
<br />~"'. TIle$lUll&pald .to.Mortgagee hereunder are pledged as. additional security for the indebtedness secured by this
<br />~~~!Ili.uPllYto Morttagee theam()unt of any deficiency between the actual taxes, assessments, insurance
<br />~~_d~pdrell\l.li1td the depoe;it:l.hereunder within .10 days after demand is made upon Mortgagor requlI6tinll
<br />JtIl3'$eIlt~. .
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<br />6;~~MUi~'_andUse_ ToprompUy repair, restore or rebuild any buildings or improvements now or
<br />l\!tla~~ on.Uje.PruPeJtj; t.Qc keep.tlIePropertyin good condition and.repair, witll()ut waste, and free from mechanlc's or
<br />....Iltu _ex.....y.\Illoldin,ated to tll.. lleD,h,reof; not to maki!, sutter or permit any nul_eo to exist, nor to dimin-
<br />bb.orlmI;ilk,tM. __ of.tlIe.Propelty lJy IIIIY aet fIlomk;&loo to act; and tocomplywilb all requirements of law with
<br />~-totbf,~.
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