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<br />REAL ESTATE MORTGAGE 84 `oo~9~B
<br />KNOW ALL MEN BY THESE PRESENTS: That .-Arden Peterson and Gretchen Peterson, husband & Wi ,dmdivmuats.
<br />jointly antl severany. residing in Hall County. Nebraska __ .; antl if a corporation Or other business entity, witH hs
<br />principal place of Husiness in Hall County, Nebraska , (hereinafter reterra0 to as "Mortgagor"} in consideration
<br />of all Mortgagor's m0ebtetlness, liabilities, antl obligations to _ Commercial National Bank 8 Trust Company
<br />of Ha t l County, State of Nebraska { ~ ~ Mortgagee"1, now existing or Hereafter incurred. ano other valuable consideration In Hantl paitl.
<br />does hereby sell and convey unto Mortgagee the following described premises situated in Hall County and Slate Of Nebxdska ,
<br />fo-wit: All of Fractional Block Nine (9) of Bonnie Brae Addition to the City of Grand
<br />Island, Hall Cotmty, Nebraska, as surveyed, platted and recorded, together with the
<br />Westerly one-half (W~) of Monroe Street between the northerly line of Fourth Street
<br />and the southerly line of Fifth Street, adjacent thereto, as vacated by Ordinance
<br />No. 4842 of the City of Grand Island, Nebraska, recorded in Book 20 of Miscellaneous
<br />Records, page 498, in the Register of Deeds Office in Hall County, Ne. (409 N Broadwell St
<br />together with au of the right, title. and mterest of !rte Mortgagor in sam property now owned or hereafter acquired and al buildings, improvements, and fixtures W anp
<br />type now or hereafter placed on said real property and all easements. rights. appurtenances. rents. royalties, oil and gas rights antl profits. water, water fights, aHd
<br />water stock. and all fixtures now or hereafter attached to the foregoing described property, alt of which including replacements antl additions thereto, shall be tl9em80
<br />to be and remain part of the property covered Dy mIS Mortgage. All of the toregang property shall be collectively hereinafter referred fo as the "Prmrfises."
<br />This mortgage is gwen to secure a certain promissory note dated _~P a3;1 ~ 0 • 7 984 in the principal sum of Seventy S+_~x 'n1+~_n +~sand
<br />Fj VP HnnArer~_and nn/10jj=-------_--------eollars ($ 76,500.00 ), and interest thereon abtnrding to-the terms of
<br />said note and any and an extensmns. renewals. momfications. or suhshtutions thereat and each and every debt, liability and obligation of every type antl tlesedption
<br />which the Mortyagor maY now or at any ume hereafter awe to the Morgagee. mcludmg guarantees or accommatlations, whicH the Mortgagor may now, or at any time
<br />Hereafter. owe or De obligated on to fhe Mortgagee. whether such debt liabiity, or obligaton now exists Or is or may be tluect or indirect, due or to become due,
<br />absolute or contingent, primary or secondary. nquldated or untlpmdatetl, cr {ant, several. or joint ano severah all such debts, iabilities, and obligations all collectively
<br />hereinafter relerretl tc as ' ~ Obligations
<br />The total pnncipai amount. exclusive df interest. of the Opligabens inclutlmq any future tlehts, advances, uabilities or Obligations, not including however arty
<br />sums a vancetl For the protection of ilia Premises or the Mongagee~s mterest [harem. shall n01 exceed the sum of One Hundred ThOt]38nd and
<br />no/Q00 ------------------------_-- 100.000.00
<br />__ __ dollars I$ ), provitle4 however, that nothing contained herein shelf constitute
<br />a commitment to make atl0itmnai or future loans or advances ~n env amount.
<br />THe Mortgagor hereby warrants that n u fee owner of the mortgaged real property. that it will defend the title against all Claimants whomsoever. antl h
<br />rehnpuishes all ngh!s of homestead m said Premises antl cpvenants and agrees vnth the Mortgagee as follows:
<br />± To pay when due all taxes. liens {udgmenfs or assessments wmcH may be lawfully assessed agamst the Premises and the rental charges upon any,
<br />assigned as atldmonal security for this Mortgage
<br />2. To insure and keep insured the Premises ano other ~mprmements now on or which may Hereafter be placed on said Premises to the satisfaction of the
<br />Mortgagee. Any policy emdenang such insurance short Oe endorsed with a mortgagee Toss payable clause. aDProved by and m favor of Mortgagee, antl deposited with
<br />the Mortgagee and with any toss thereunder to be payable to Mortgagee At the option o! the Mortgagee, sums so received Dy Mortgagee or Mortgagor may be used to
<br />pay for reconstruction of fhe destroyed Premises. pr. a not so applied may, at the apaon of the Mortgagee. be applied in payment of any Obligations, matured or
<br />unmatured. secured by this Mortgage
<br />3 To keep all builtlrngs occupied antl m good repau and t0 retrain from the commission of any acts of removal. demolition, or impairment M the Premises; not to
<br />cut or remove. pr perms to De cut or rempved, any woos of hmoer from said real property. antl not to commit fir permit any waste or impaument of ihevalue of fhe
<br />security, fo continuously practice approved methods of }armrng on Bald Premises. ra prevent eroswn antl the spread of noxious and damaging weeds, and to preserve
<br />the fertiliTy Of the sort
<br />a. That all money ano awards payable as tlamayes or comoensatibn for the taking of title to or possession of, or for damage to any partidn of 4he Premises Dy
<br />reason of any condemnabor,. eminent domain, change of grade- or other proceeding shall, a*. the option of the Mortgagee. be paid tome Mortgagee. and sudh moneys
<br />and awards are hereby assigned to Mortgagee, and lodgment therefor shall De entered in favor of Mortgagee. antl when paid shall be used. at its option, toward fhe
<br />payment of the Obligations secured Hereby in such order or manner as Mortgagee may desire or determine. or shall Da used at Rs option, far payment of taxes,
<br />assessments, repairs or Other Hems rot fhe payment of which this Mortgage is given as security, whether the same be men due or not, and in such order or manner as
<br />Mortgages may determine. antl any amount not soused shalt be released by the Mortgagee to the Mortgagor. Such appiicahon or release shall not cure or waWe any
<br />default or foreclosure proceedings. In the event Mortgagee deems it necessary td appear ar answer in condemnation action, hearing or proceeding, Mortgagor shall
<br />pay all legal expenses in connecton merewith. meWmny Dut rim limueo to attorneys' tees antl court costs, and until so paitl, such expenses. with interest at the rate W
<br />15.50 percept, Shall De added t0 the Obligations Secured hereby m such manner or order as Mortgagee may desire or determine, having the Denefd Of the 41en
<br />created hereby as a part hereof antl of its pnonty
<br />5. That m the anent Mortgagor fans w Day when due any taxes, remal charges upon any leases assigned as atlmhonal security for tins Mortgage, liens,
<br />lutlgmems, or assessments lawfully assessed agamst the Premises. or fans to maintain insurance as herem0efore provided, Morlgagee may make such payment or
<br />provide such insurance, antl me amount(s) paid therefor snail oecome a Dart of the Obligations secured hereby, due antl payable Immediately. and shalt Hear interest
<br />at the rate of 15.50 percent per annum from and at the time the Morlgagee makes such payment.
<br />6 that in the event Mortgagor tletaWls m the UEynteni of any of the Obligations or of any interest thereon, at the lime when the same shall be due, or with
<br />respect t0 any covenantor condition hereof, then, of the option of Mongagee, me entire Obhgatwns secured hereby shoo torlhwith oecome due antl payable, antl the
<br />Mortgagee may Immediately tdreradse tNS Mortgage or pursue any oIDer avmlaDle legal remedy. In ine event of any action by Mortgagee to enforce collection Of any of
<br />the Obligations secured hereby, ilia Mortgagor agrees that any expense mcludmg wltnout nmitahon attorneys' tees and costs incurred m connection therewith or
<br />incurred to procure or exteno an apstract pt nbe shall. when incurred yr pars Dy Mortgagee, become a part of the Obligations secured hereby antl shall Oe paitl by
<br />Mortgagor Iogemer wtth au the taxable costs or such acnvn
<br />7. chat m the even) any acnan is Drought 10 !oreciose finis Mortgage for a!I or any part of the Obligations secured hereoy, the Mortgages shalt Ds entitled to
<br />immed+ate possession al the mortgaged premises. antl the court, or a fudge thereof in vacation, may appoint antl th9 Mortgagor hereoy consents to the appoln!men± of
<br />a recen~e~ to take possesson of said Pram~ses to collect and receive mots and profits arising therefrom; and from any moneys so couected, to Day taxes. prdwde
<br />insurance. make reetled repaus [o improvements upon the Premises. end make any other expenditures auNonzed by Ine court, antl apply any sum relna+mng agar
<br />Ine payment of such aWnolizatl expenditures upon me CDhgdhan5.
<br />& inat tenure or delay of Mortgagee to exerase any of as rgots pr pnvueges a to insist upon strict performance of any cevenanis o+ agreamams a' Murtgaya
<br />contained m tRis Mortgage snap never pe canSlruetl as a wa+rer of any requirement Or obligation of Mortgagor or right or remedy of Mmtyayee cpr,tairep ~n or pas'ed
<br />upon any of Ine terms. provisions. agreements or covenants pf this Mortgage o. any wture defaults
<br />9 That incase at tletauR m the payment lit any o1 the Obigations or ,n case of payment by Fnurtgagea of any pen, lodgment, tax. insurance. cost, p' expense.
<br />SdiO Mpr[gdgee shall Rave the priY+iegE, mlh0ut d@Gidrmy Ine wnple indeDletlnesS due antl payable, to Iprepl05e Cn dCCpunl Of sUCh spCGIfIC tl21aUn (or soon
<br />Obligations as are in default ano such torecrosure pmcaedings may pe had antl the land described harem may De soiC, sublecf to the unpaid ObpgaDOns hereoy
<br />secured. and this Mortgage shall continue as a lien for any unpaid balance of ilia ObUgatmns
<br />7G. Mortgagor assigns and denvers ro the Morlgagee a.: nqm !rtie, interest. and deman0 m and to !ants ano profits at ine F~i:m~sas aria acres assign bi
<br />Mortgagee alt leases of fhe Premises now yr hereafter roads. wnrten pr oral. and does empower Mortgagee N correct m:d receipt !m eii ten's .tfartyagp: d.rer.is a~!
<br />tenants to pay rent due or to oecome due !a fdortgagee f na fern of rots assiynmenl is anal the Obligations are luny paid tins assignment semi no; aeiwne eperauva
<br />unless default i5 made m the cpvenants. terms, antl contldions of ary df the Obligations or ;his Mortgage.
<br />r 11 any pan of ilia Premises are transrerred or smd wahouf ilia prior ,vrttap consent at Ole Mongayee, :rte Udugahors m~,y ai .rte apimn ~t cir ldprigayee D+•
<br />declared Immediately due antl paYadia and this Mortgage inay oe fnreclDSed as set mrth in paragraphs G ano 7 of this Mortgaya
<br />t2 that the Premises are trite and c!uar pt af~ ireRS anp onuompra;tce: wnatsoeve+ ercepi tYl+?se -ctF r~C4Ld
<br />=3 in me avert MOnyayOr snag witnaa[ the C° ui w 4e ~ e.:nsent of M~rg,iyee mprfgeye ~ '~. ieiwise t~. ..e~ ~ e -, _ .. "er, ': c_
<br />ancumnered in any fashion. then Ma4gagaa atay at Mongag0e~s opLOi .+,i.e u ~ - iC ga¢oos is ua . ~trnetl:aiel ~ r .{~.+. ,a~ r e i . _.,. r . r .- 4 , ,,,.,,,
<br />may DB tdracbsed as Sal fpnn rri Pardy+aphs fi and ; pl Ih15 Mpngage
<br />14 Tnal+l iffy pfofSronS !tai aDl SnGJin pt•ne,'J-B'. iY.JJ~a '1 ..~. .tic. ~.1~. p.•l Ur. ;:Hal ~E LV6 tit ~a.,i. [- r _ ~_i. .. -. _ .-.. .. '
<br />tic vray afta,.i fhe vaadity of Ras Mortgage
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