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r 84-0034~2 NEBRASKA f'l)RTGAGE r Thi.s f'l)RTGAGE made this .,,:(0 'ih day of June, 1984, between CHARlES 'IHCMAS TOUT and LINDA COOART roill ( "Mortgagor") and DELL PAIU, Personal Repre'- sentative of the Estate of Mary Arm Palu, Deceased ("Mortgagee"). IN CONSIDERATION OF 'IHIRTY-0NE THOUSAND AND NO/1OO DOLLARS ($31,000.00) advanced by Mortgagee to Mortgagor who acknowledges receipt of such sum which. is evidenced by a promissory note of even date ("the Note") which this llIbrtg<:ige secures, the Mortgagor jointly and severally if !lOre than one, hereby .llIbrtgages to the Mortgagee the following described real property situated in the County of Hall, State of Nebraska, and described as follows: The Northerly Fifty and Twenty Five Hundredths (50.25) Feet of iDt Five (5), in Block Ninety- Nine (99), in Railroad Addition to the City of Grand Island, Hall County, Nebraska, together with all rents, easements, appurtenances, hereditaments, interests in ad joining roads, streets and alleys, improvements and buildings of any kirrl situated thereon and all personal property that may integrally belong to or here- after become an integral part of S1 .. buildings and improvements to such real property kollecti vel y "the Property" Mortgagor coveTk'lnts with Mortgagee and its successors in interest that (i) Mortgagor holds tiLe; to the Property in fee simple and has lawful authority to I1Drtgage the same, (Ii) the Property is free of liens and encumbrances except as stated above, and (liU i--lortgagor will defend the Property against the lawful claims of any person or entity. 1. PA \'MENI'S. Mortgagor shall promptly make all payments required under the Note and any other instrument securing the Note. 2. TAXES. Mortgagor shall pay each installment of all taxes and special assessments of every kirx:l, now or hereafter levied ard assessed against the Property or any part thereof, before same becomes delinquent, without notice or demand arx:l shall provide ~lortgagee with evidence of the payment of same. Mortgagor shall pay ail taxes arx:l assessments which may be levied upon Mortga- gee's interest herein or upon the Mortgage or the debt secured hereby without regard to any law which may be enacted imposing payment of the whole or any part thereof upon the Mortgagee. 3, INSURANCE A..'ID REPAIRS, ~lortgagor shall maintain fire and exterded coverage insurance ulsunng the improvements and buildings constituting part of the property for om am::JUnt equal to the actual cash value of such improvements, e.xclusive of foundations, but in no event for an amOlmt less than the arrount of the unpaid prj ncipal balance of the Note, Such insurance policies shall contain a "LdLJ,U1LU Ilut L!!,dge cj,dWoe HI Lavur 01 (ne Horcgagee am snall not be cancellable, terminable Ot' nu:Uf lable without ten (10) days written notice to Mortgagee, ~lol:'tgagor shall promptly repair, maintain and replace the Property or any part thereof so that, except for ordinary wear and tear, the Property shall not deteriorate. ln no event shall the Nortgagor cemnit waste on or to the Property. -1- L L L L