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<br />84-
<br />MORTGAGE
<br />
<br />003720
<br />
<br />I
<br />
<br />This Mortgage is entered into between
<br />
<br />Lula E. Davis, A Widow
<br />
<br />FIVE POINTS BANK
<br />
<br />(herein "Mortgagor")""d
<br />(herein "Mortgagee").
<br />, evidenced by Mortgagor's'note
<br />
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 5,000,00
<br />
<br />dated
<br />
<br />7/5/84
<br />
<br />(herein "Note") providing for payments of principalandiuterest, withthe'hal;"ceof,t4If/
<br />
<br />o Other prior liens or encumbranct's:_~
<br />
<br />
<br />indebtedness, if not sooner paid, due and payable-on JanllR ry 1. 1985
<br />
<br />Togecurethe payment or the Note, with interest as provided
<br />advanced'py Mortgagee to prote~t ,the security oflhis Mortgage, and the
<br />the Mortgagor 'contained herein,' 'Mortgagor does hereby, mortgage convey
<br />
<br />property located in
<br />
<br />Hall
<br />
<br />County, Nebraska:
<br />
<br />Lot Sixteen (16), Block Four (4), Morris Second
<br />City of Grand Island, Hall County, Nebraska
<br />
<br />Together with all buildings, improvements, fixtures, streets, alleys,
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents-. issues
<br />thereof; including/but not limited to, heatin~ and cooling equipme.nt -and such personal
<br />improvements so as to constitute a fixture; all of 'Which, including replacements,and additions
<br />to be a part or the real estate secured by the lien of this Mortgage and all or the foregoing
<br />"Property".
<br />
<br />Mortgagor further convenants and agrees, with Mortgagt'e, a'i follows:
<br />
<br />2, Title, Mortgagor is the owner or the Property, has the right and authority to
<br />warrants that the lien created hereby is a first and prior lien on the Property. except as
<br />
<br />o The Property is SUbject to a Mortgage wherejn'_"~___7_____'___"__~______
<br />
<br />is the Mortgagee, recorded at Book _, Page ,_.___,,_ ,,, or the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the Jien created hNeby.
<br />
<br />3. Taxes, Assessments. To pay when dUt> all taxes. special a'isessments and all other charges against' the, Property
<br />and, upon- written demand by_ Mortg~:;;ef', to add to the payments required under the Note secured hereby, such amount ~
<br />may be sufficient to enable the Mortgagee to pay such taxes,_assessments or other charges as-they- become due.
<br />
<br />4. Insurance. To keep the improvements now or hereafter located on the rew estate described herein insured
<br />against damage by fire and such other hazards as 1vlortgag(~t' may require. in amounL<; and with companit's acct'ptabJe Lo the
<br />Mortgagee, and with Joss payable to the Mortgaget'. In case of loss under such polici(~s the Mortgagee is aUlhoriz,e,d to
<br />adjus~, collect and compromise, in its discretion. all claims thereunder at its sole option, authorized to either apply the
<br />proceeds to the_ restoration of the Property or upon thf> indebtedness secured hereby, but payments hereunder shaH con.
<br />tinue untH the sums secured hereby are paid in full.
<br />
<br />5.. 0 Escrow For Taxes and Insurance. Notwithstanding anything conlaim1d in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time or paying the monthly installments of principal and interest,
<br />one-twelfth 'of the yearly taxes, assessments, hazard insurance premiums. and ground rents (if any) which ,may attain a
<br />priority over_ this -Mortgage, all as reasonably estimated from thue to time by the Mortgagee. The amounts so paid shaH be
<br />held by the Mortgagee without interest and applied to the payment of the Hems in respect to which such amounts wert>
<br />deposited. The sums paid to Mortgagee hereunder are pledged as additional sp.curity for the indebtednt'ss secured by this
<br />Mor~age. Mortgagor shall pay to MQrigagt'c the amount of any deficiency betwt't'l1 the aCLuai t.aXl'S. asseSSffit.'llts, insuranCf'
<br />premiums and ground rents and the deposits hereunder within 10 days aft~r d.-rnand is mad(' upon l\lortgagor requesting
<br />payment thereof.
<br />
<br />6. Repair, Maintenance and Use, To promptly repair, rl'stort' or rebuild allY buildings l)r improYt'nlf'llbJ. now or
<br />hereaft(!r un the- Properly~ to ket'p tht, Property in good condition and rf.'pair. without wash', arid fn.';> from mechanic's or
<br />other Ue-fLl) _not t"xpressly subordinaled to th~ liell hcreo(~ JlOt t.o makt'. fiuffN or pamit any nuisann' to exist. nor 1.0 dimj,Il'
<br />ish or impair t1l<, valu{> of lh(~ ProPl'rty by _any ad or omission t.o ~j(.t; and tu l'omply with all n'quin,'m('uil' of law with
<br />n\lJpf'(<' t.o lot, Prapt:'rly.
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