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<br />MORTGAGE
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<br />84 _003778
<br />
<br />r
<br />
<br />in common
<br />Joint Tenants with Right of Survivorship, and Not as Tenants (herein "Mortgagor") and,
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<br />This Mortgage is entered into between
<br />
<br />Phillip D. Maltzahn and Vicki L. Maltzahn, As
<br />
<br />Five Points Bank
<br />
<br />(herein- "'Mort~ee_"').
<br />, evidenced by Mortgag/'ll'!SJ!Gte
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<br />Together with all buildings. improvements, tixtures, streets, alleys, passageways;
<br />appurtenances located thereon or in anywise pertaining thereto, and the-rents. isSues- and
<br />thereof; including, but not limited to, heating-and cooling equipment
<br />improvements so as to constitute a tixture; all of -which, including replacements and
<br />to be a part of the feai estate secured by- the hen of this -Mortgage and all-of the, foreg()ing_being
<br />"Property" ,
<br />
<br />
<br />indebtedness, if not sooner paid, due and payable 'on
<br />
<br />dated
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<br />Mortgagor is indebted to Mortgagee in the principal sum of$ 100,000.00
<br />June 21, 1984
<br />
<br />(herein "Note") providing for payments or principal and interest, with the ba1anco' of tne ,
<br />Decembe r 21, 1984
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<br />To secure the paymentct:the'Note; with interest as provided therein, the
<br />advanced by Mortgagee to protect the security of this Mortgage,
<br />the Mortgagor contained"h'el:ein}Moitgagor does hereby mortgage
<br />
<br />property located in
<br />
<br />Hall
<br />
<br />County, Nebraska:
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<br />Lot Eleven (11), in Block One (1) in Brentwood
<br />City of Grand Island, Hall County, Nebraska
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<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
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<br />o The Property is subject to a Mortgage wherein
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<br />is the Mortgagee, recorded at Book ______, Page .._._._ of the Mortgage
<br />Nebraska, which- Mortgage is a lien prior to the lien created hereby.
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<br />o ,Other prior liens or encumbrances:~__~__
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<br />3. Taxes, Assessments. To pay when due all taxes. special assessmenL<; and aU other charges against the_Property
<br />and, upon written demand by Mortgagee-. to add La the paymenL<; required under the Note secured hereby.. such amb'unt as
<br />may be sufficient to enable the Mortgagee to pay such taxes, assessrnento:; or other charges as they become due.
<br />
<br />4. insurance. To keep the improvements now or hereafter located on the ,real estate described, herein insured
<br />against damage by fire and such other hazards as Mortgagee may require. in amounts and with companif's acceptable to-the
<br />Mortgagee, and with loss payable to the Mortgagee. In ca.se of 105s under such policies the Mortgagee is authorized to
<br />adjust, conect and .compromise~ in its discretion, aU claims thereunder at its sole, option. authorized to either apply the
<br />proceeds to, the restoration of the Property, or upon the indebtedness secured hereby, but payments hereunder shaH con-
<br />tinue. until the sums secured hereby are paid in fulL
<br />
<br />L
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<br />5. 0 Escrow For Taxes, and Insurance. Notwiths.tanding anything conlained in paragraphs:3 and 4 hereof to the
<br />contrary, Mortgagor shall pay 'to the Mortgagee at the time of paying the monthly installmcnls of prjn~:ipal 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 thi.s Mortgage. all as reasonably estimated from time to time by the Mortgagee. The amount.l\ so paid shall' be
<br />held by th(! Mortgagee without inte<rest and applied to the payment of the items in respect to which such amounts were
<br />deposited. 'Ille sums paid to Mortgagee hereunder arc ph..dged as additional security fur t.h(~ indebtedness secured by this
<br />Mortgage. Mortgagorshall pay to Mortgage~ the. amount f)( any det1ciency bt.'tWCNI the actual taxes. a.">Scssnwnts. insurance
<br />premiums and ground rents and tht, deposits ht'teundt'f within 10 days after d(.mand if. made upon Mortgagor rt'questing
<br />payment thereof.
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<br />6. Repair, Maintenam:e and Use. To prompUy rf:pair. n~SLQre or rd)uild any building~ or irnprovNocnl:; 110\\' or
<br />hereafter on thf! Property~ to kt':t'p. Uw, Pr:o~:rty in good nmditlon aud wpair. without 'Nt1hI.P, and fret.' from mvehank's Qr
<br />olh'.!rliells not expressly ~ubordinated lO the lte-n.hereof; nut bJ JntlKt" ,;,ufft'-r or pc:rmH at1y nUl5al1ce to t'xi:>l, nO!' to danin-
<br />ish .or lmpair thr -va.lul' of Hu: ProPNty by any ad Of (lnil~-s.Ion to ad; ;,md to t'ompJ)' wil.h at! H'Cpllft'BWnb of Inw wn.h
<br />-rt.'sPf:ct t.o th€' Property.
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