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I 84__ 002719 r REAL PROPERTY MORTGAGE 5, Dennis Storms and Marilyn S. Storms. husband and wife, herein called the mortgagor whether one or more, in consideration of !,;IX THOIl!,;ANTl FIVE Ht~llF.J) ANn Noll 00---------_______ ___________________________________ 6.500.00 ) paid by the Mortgagee, the receipt of which is hereby acknowledged, and as security for fulure advances that mal be made from time to time as consideration for this mortgage, does mortgage to The First National Bank of Grand Island, Grand Island, Nebraska the following real estate all located in Hall County, Nebraska: Lot Nine (9) in Block One (1) of Westerhoff's Second Sub- division being a recent subdivision in the South Half of Block Three (3) and Four (4) and the North Half of Block five (5) and Six (6) in Westerhoff's first subdivision in the City of Grand Island. And the mortgagor does hereby convenant with the mortgagee and with mortgagee's heirs and assigns that mortgagor is lawfully seised of said premises, that they are free from encumbrance, that mortgagor has good right and lawful authority to convey the same, and that mortgagor warrants and will defend the title to said premises against the lawful claims of all persons whomsoever subject to a valid first mortgage with the Equitable Building and Loan Association of Grand lsl~nd, Nebraska recorded in Book 155 Page 55 in the Hall County Register of Deeds. This mortgage is givl"n to secure the payment of the promissory note of this date made by mortgagor and promissory notes of past dates made by mortgagor with mortgagee and this mortgage is also given as security to mortgagee for all indebtedness that may in the future be incurred by mortgagor to mortgagee, and such future indebtedness shall bear interest from date of a- ccrual at the rate as provided in the note executed on that date and secured by this morlgage, and shall be payable to mortgagee at the same place designated in the note. All such future indebted- ness shall be deemed a pari of the indebtedness secured by this mongage, and shall be recoverable as such. Mortgagor shall pay all taxes and assessments levied upon saId real property and all other taxes levied on this mortgage or the note which this mortgage is given to secure before the same become delinquent and shall maintain fire, windstorm and extended coverage insurance with a mortgage clause on the buildings on said premises in such sums as they are insured as of the date of thi s mortgage, If mortgagor fails to pay such taxes and assess- ments or procure such insurance, mortgagee may pay such taxes and purchase such insurance and the amount so advanced with interest at fourteen percent per annum shall be secured by this mongage. ln case of default in the payment of the principal sum or any mstallment thereof or of any mterest thereon when the same shall become due or in case of Ihe non-payment of any taxes or assessments or of the failure to maintain insurance as herein prOVIded, mongagee may at the option of mortgagee, without nolice, at any time during the continuance of such default or breach, declare the whote debt secured by this mortgage to be immediately due and payable and may foreclose this mortgage. L