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<br />83-005318
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<br />MORTGAGE
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<br />This Mortgage is .ntered into between
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<br />'llIaAAS J. RUSSELL and GLENDA K. RU3SELL.
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<br />Husbahd and Wife (h.rein"Mortgagor")and
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<br />'llIEOVERLAND NA'I'IONAL BANK OF GRAND ISLAND, Grand Island, Nebraska (h.rein"Mortgagee").
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<br />Mortgagor is indehted to Mortgage. in th.principal sum of $. 25,000.00 , evidenc.d by Mortgagor's note
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<br />dated Oc:tober 3, 1983 (h.rein "Note") providing for payments of principal and interest, with the balanc. of the
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<br />indebtedness, if not soon.r paid, due and payable on Oc:tober .1, 1984.
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<br />To secure .lilt 'ot lbe Note, with interest as provid.d th.rein, the paym.nt ofall other sums,wlth interest,
<br />advanced by Moqga 9tl'ffitept the security of this Mortgage, and the performance of the cov.nants and ~em.ntsof
<br />the Mortgagor contai ~.rein,Mortgagor does h.reby mortgage and conv.y to Mortgagee the fonowing described
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<br />property located in
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<br />f[l'lll
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<br />County, N.braska:
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<br />lDt Sixteen (16), MARYLANE Subdivision, Center
<br />Township, Hall County, Nebraska.
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<br />Transfer of Property. If all or any part of the Property or any interest of
<br />MJrtgagor therein is sold, :transferred or further encunbered wi:thou:t :the express
<br />written consent of :the MJr:tgagee, ~brtgagee may, a:t its sole option, declare all
<br />SUIlS secured by :this Mortgage to be :imrJadiately due and payable.
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<br />Togeth.r with all buildings, improvem.nts, fixtures, streets, alleys, passag.ways, ....m.nts, rights, privil.g.s and
<br />appurt.nances located th.reon or in anywise pertaining th.reto, and the rents. issu.s and profits, rev.rsions and remaind.rs
<br />th.reof; including, but not limited to, h.ating and cooling .quipm.nt and such personal property that is attach.d to the
<br />improv.m.nts so .. to constitute a fixture; all of which, including replacem.nts and additions th.reto, is h.reby declared
<br />to be a part of the real estate secured by tb. li.n of this Mortgag. and all of the foregoingb.ing ref.rred to herein.. the
<br />"Property".
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<br />Mortgagor furth.r conv.nants and agrees, with Mortgag.., as follows:
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<br />1. Payment. To pay the indebtedness and the interest thereon.. provided in this Mortgage and the Note.
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<br />2: Title. Mortgagor is the owner of the Property, b.. tbe right and authority to mortgage tbe Property, and
<br />warrants that the li.n created b.reby is a first and prior lien on tb. Property, .xcept as may oth.rwise be s.t fortb h.rein.
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<br />o Th. Property is subject to a Mortgag. wh.rein
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<br />is the Mortgagee, recorded at Book _, Page _ of the Mortgage Records of
<br />N.braska, which Mortgage is a li.n prior to tb. li.n creat.d h.reby.
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<br />County,
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<br />o Other prior liens or encumbrances:
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<br />a. Taxes, Assessments. To pay wh.n due all tax.s, special assessm.nts and all oth.r charg.s against the Property
<br />and, upon written demand by Mortgagee, to add to the paym.nts requir.d und.r the Note secured h.reby, sucb amount as
<br />may be suffici.nt to .nabl. the Mortgage. to pay such taxes, assessments or oth.r charg.s .. th.y become du..
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<br />4. 1u$Qrance. To keep the improv.m.nts now or b.reafter located on the real estate d.scribed h.rein insured
<br />againo1 ~ by lire and suct..oth.r hazards .. Mortgage. may require, in amounts and with compani.s acc.ptabl. to the
<br />MOrtgagee, and with 1..... payable to th.Mortgagee. Incase of loss.und.r such policies the Mortgagee is authoriz.d to
<br />adjuat,coIl.ct and compromise, in its discretion, all claims .th.reunder at its sol. option, authorized to .itb.r apply the
<br />proceeds to th. restoration of the Property or upon the ind.btedness secured h.reby, but paym.nts h.reund.r shall con-
<br />tinue untuth. aUBll.secIU'l!dhereby are paid in l'ulI.
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<br />5.. 0 ~... For .Tu:ea and.Insurance. Notwithstanding anything contain.d in paragraphs 3 and 4 b.reof to the
<br />C9!l~.~or. shall pay . to . th. Mortgage~ at. the. time of paying th. monthly installm.ntS of principal an.d interest,
<br />~tjreI~o~tli'\Ye.WY taxes,~ts. bazarl.l1nsurance premiuDlS,.and ground rents (if any)which may attain a
<br />PJ!,OJiLyoy.r thi&Mott&aI., all as~nablyestlmated from time to time by the Mortgagee. Th. amounts so paid shall be
<br />"!llJi bY, t.be,...,~ WithOlltlnteJ:est and.appll~d toth. payment of the items in resll"ct to which such amounts w.re
<br />~tad. .~. ~ paldtQ.Mortca<<ooberel\Ild.r arepledg.d.. ~dditiollal security for the ind.btedness secured bythi&
<br />~'''''~sl1alJpay to Moftgagee the .mount of any d.lIctency betWeen th. act\lal tlQuls, assessm.nts, .lnsnrance
<br />IIJ';IIllji.ml; anjl.lli9und rointa and thedel'OSita tii!.teUIld.r within. 10 days aft.r demand is mad. upon Mortgagor requesting
<br />P!iY~.the~f. ....
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<br />6.,~,~and U.., '1'0 P,romptly repair, ......tore orrebulld any buildings or improv.menill now or
<br />~ OlItaePl1>pejty; tQ keeP.thel'ropertyln.JOOd colI4itfon and ~pair. witbout waste. and free from mechanic's or
<br />~l.\eJ:la not ~ IlIlIon:llnaled totheUen beleOf; not. to rnak<I, m!ter or pennlt any nulsanc. to exist, nor to <!imin-
<br />iIll.or ~rthe~nUb.l'roperty by any a<<.or OlDi1aion to..,t; and to comply with all requlreme"ls of law with
<br />~.tQth.l'fopert)' .
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