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<br />83-003888 <br /> <br />MORTGAGE <br /> <br />Gary Leece and Marlene Leece, husband and wife, <br />(Mortgaqor) , conveys to Marcus Rikli and Dorothy Rikli <br />(Mortgagee) the following described real estate: <br />Lot 44, Hidden Lakes, Subdivision No.2, an addition to <br />Grand Island, Hall County, Nebraska (Property). <br />This Mortgage is given to ~c)1: the payment of a Mortgage <br />t.z,~~. <br />Note in the sum of $P.l ,~{}v. uO '. om the Mortgagor to the <br />Mortgagee, of this date, ,:md constitutes a Security Agreement <br />with respect to fixtures attached to the property. <br /> <br />1, WARRANTY OF TITLE: The Mortgagor warrants that the <br />Mortgagor is :Lawfully seised of a fee simple title to the proper- <br />ty, free from encumbrance, except a first mortgage in favor of <br />/lA_it fc..t..cA~1 S;,if1'~ It..-.L' 6/ i?""_LI~~ has full <br />authority to convey the property and will warrant and defend the <br />title to the property against the claims of all persons. <br /> <br />2. PAYMENT: The Mortgagor shall pay the indebtedness hereby <br />secured, when due, <br /> <br />3. ~: The Mortgagor !>hall pay all taxes, assessment and <br />other charges which may become liens u~~n the property, when due, <br />and before delinquency. <br /> <br />4. INSURANCE: The Mortgagor ~\hall maintain fire and extend- <br />ed cQverage insurance, covering the improvements on the property, <br />with such company and in such amount. as shall be satisfactory to <br />the Mortgagee, wi th the pn,cceds of any 10s8 payable to the <br />Mortgagee. Upon foreclosure of this Mortqage or other transfer <br />of the title to the property in satisfaction of the indebtedness <br />secured, all right, title and interest of the ~1ortgagor in and to <br />such insurance policy shall pass to the grantee of the property. <br /> <br />5, TAX AND INSURANCE ESCROW: At the election of the Mort- <br />gagee, the Mortgagor shall pay to the Mortgagee a monthly amount, <br />to be placed in escrow, sufficient to pay future taxes, assess- <br />ments, insurance premiums and other charges, when due. Upon any <br />defaul t by the Mortgagor in the payment of taxes, assessments, <br />insurance premiums or other charges, the Mortgagee may make <br />payment and add the amount of such payment to the principal <br />balance of the note. <br /> <br />i. MAINTENANCE: The Mortgagor shall not commit or permit <br />waste aM Shall maintain the illlproveJIlents on the property in good <br />c~ttion and repair. <br />