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<br />MORTGAGE
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<br />83- 005370
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<br />r
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<br />This Mortgage is entered into between
<br />Husband and Wife
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<br />'lheOverlandNational Bank()f Grand Island, Grandlsland, NE
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<br />Wallace D. Brown and Carolyn K. Brown,
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<br />(herein "Mortgagor") and
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<br />Mortgagor is indebted to Mortgagee in the. principal snm of $
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<br />(herein "Mortgagee").
<br />50 .000. 00 ,evidenced by Mortgagor's )lote
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<br />
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<br />dated Octob6!r,,4. 1983 (herein "Note") providing for payments of principal and interest. with the balanCe of the
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<br />indebtedness, if not sooner paid, due and p~yable on Jan. 2:;', 1984
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<br />To secu...the paYDIelltaf theffote;'with interest as provided therein, the payment of all other sums. with interest,
<br />advanced by Mo!;f~.~'~lfcn!\C, ,s~l;uzity of tbis Mortgage, and the performance of the covenants and agnierneotsor
<br />the Mortgagor;..cOnt8ineol 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
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<br />County, Nebraska:
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<br />Lots Sixty (60) and Sixty One (61) Le Heights Fburth Subdivision,
<br />Hall County, Nebraska.
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<br />AND
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<br />Lot Six (6), Block Four (4), Country Club Subdivision, Hall County,
<br />Nebraska.
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<br />Transfer of Property. If all or any part of the Property or any interest of
<br />Mortgagor therein is sold, transferred or further encumbered without the express
<br />written consent of the lIlortgagee, Mortgagee may, at its sole option, declare all
<br />sums secured by this llDrtgage to be inrnediately due and payable.
<br />Together with all buildings, improvements, rIXtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and tbe rents, issues and profits, revemions and rernaindem
<br />thereof; including, but not limited to, heating and cooling equipment and sucb pemona! property that is attached to the
<br />inlprovements so as to constitute a fixture; all of which, including replacements and additions thereto, is hereby declaIed
<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 />HPrOperty" .
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<br />Mortgagor furtherconvenants 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 hereby is a fimt 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
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<br />is the Mortgagee, ,""orded at Book _ , Page _ of the Mortgage Records of
<br />Nebraska, 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 />a.Taxes, Assessments. To pay when due.alI taxes, special assessments and all other charges against the Property
<br />and; upon Written demimd by Mortgagee, to add to the payments required under the Note secured hereby. such amount as
<br />q.ay be sufficient toeDl\blethe Mortgagee to pay such taxes, assessments or other charges as.they become due.
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<br />40 . Insurance. To keep the improvements. now or hereafter located on the real estate described herein insured
<br />&g!linst damage by fire. and such other. haz8rds as Mortgagee may require, in amounts and with companies acceptable to the
<br />l!tortgagee, and with 10l;S payable to the Mortgagee. In case ofloss under such poliCies the Mortgagee is authorized to
<br />adjust, cQIlecl. . and compromise, inits. discretion, aU claims thereunder at. its sole option, authorized to either apPlY the
<br />prQCeeds.to t!ie ~..tion of the Property or upon. the indebtedness secured hereby, but payments hereunder shall con.
<br />tin!ICllDtiltbe sul!\Sse'lured hereby lU't! .paid .lnIull.
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<br />. ... 1).. t,H~~",... F", Taxes: 8!'!l .Insurencc' Notwithstanding &!Iythlllg contain~d In paraeraphs 3 &!Id 4 hereof to .the
<br />. . cOIlIr!'rY ,M~or sb~ paY;t<>t~e Mortgagee att~e .ti1lll1 of paying the m9nthly installments ofprinclpal.nd In~t,
<br />OI\..tw~l~of t!'a taxils'asse~l1ts.,1uiz.ard i~UllIDcepremIUms, &!I.d grollnd rents (If &!IY) which may attail1. a
<br />\lIi<!rit.Y ov~t t!lls~ alias reasonably estimlltedfrom time to. time by the MortiJllgee. Th~ amounts sopaidshaIl be
<br />. . .\Il!ld"bl" .. .., ..,. t.' In~t.1!J1d lli!p!iedto thepaym~nt. of th~ ltemsinrespec~ to which such. amounts ",ere
<br />'~JlllIi; !\1I"J!.I!l\to~~. h"i9l1nder:~ pledged as addItional sec11rityforthe IndebtednessseCUl'lldby this
<br />sI!aIl peYIl> t,I~ t!l~ linI.ouilt of any d~fiel..n9'betwcen th~ac.tual taxes, ~ments, ~UllIDce
<br />.,' ~.. ~.' fl!I1l' ,ftJjd ..~. depqlltallerellDcler withIn tQdays after. delJ18!ld is rnede upon Mortgagor reqllestlng
<br />~. .............
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<br />............6..~~~.....P""lIIIdU.., .... '1'0 prOlJlpUy repeir, restore or rebuild any buildings or impwvements now or
<br />.~:ontbt~rty;to~ tbe.Ptoperty'lngood Cl)QdltionandrepaJ., without waste, and free from mechanic's or
<br />~,~ l\<<tt.l'fC!'IlY'~dtotbe lleohereof;n()t to milb,SI!ff", or parmlhny nuisance to exist, nor to dimln.
<br />lIlIor~..the:""'oftbtIWperty by .yatt.o. 0DJlaIJ0ll to act; and to comply with all requirements of It", with
<br />~.I'!.tlle..~.
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