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<br />MORTGAGE
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<br />84,- 006260
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<br />This Mortgage is entered into between
<br />Husband and Wife
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<br />Lee O. Petersen and Carol R. Petersen,
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<br />Mortgagor is indebted to Mortgagee in the principal sumof$ 25,000;00
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<br />, evidence~ by Mortgag()i"lInote '
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<br />Five Points Bank
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<br />dated N""'i'mh",r ? <. 1 qR4 (herein "Note") providing for payments ufprlllcipaland interest; witli:the balanceonhe'"
<br />indebtedness, if not sooner paid, due and payable on November 29. 1985
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<br />To secure the payment or the Note, with interest as provided titerein,the paymmtor aUi>tillir SUmll;with intete!.t,
<br />ad~llnced by Mortgagee to protect the .ecurl1-i III this Mortgage, and the perft:>1foance oftheeovenaI\tsan~agreliJt1l$tS~i>
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage.andeouvey t<>.MiJitgageethef()I1oWing'd~"d'
<br />Hall
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<br />property loeated in
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<br />County, Nebraska:
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<br />-t ~< ,'IX
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<br />Lot Twenty Three (23) in Hidden Lakes SubdivisionNumberT-.Io,
<br />Being a Part of the Southeast Quarter of the Northeast Quarter
<br />(SEiNE!) and a Part of t.he North Half of the Nort.heast.Quarter
<br />Southeast Quarter (N!NEiSEi) of Section 13, Township '11
<br />North, Range 9 West of the 6t.h P.M.
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<br />",-,;-::y,
<br />-,'-"',
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<br />">''-:~'::''',''.i>t;
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<br />Together with all buildings. improvements, fixtures. streets. alleys, passageways, easements, rigbts.jji-jVilelies:lIlid)i'
<br />appurtenances located thereon or in anywise pertaining theret(, and the rents issuesandPtofits,revefsio!l"8I1d~~ll.IlIII'\; ,
<br />thereof; including, !Jut not limited to, heating and cooling equipment and such personal property tl!atis a~,.tiHlili:'"
<br />improvements so as to constitute a fixture; all of which. including replacementsandadditionstbereto.\Sne~~;.:;' :
<br />to be a part of the real estate secured by the lien 01 this Mortgage and all of the foregoingbeing,,.,rerred.,tci4~DliD;as~,,';;'
<br />"Property", .,
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<br />'"---'.')-':.:""20.'"
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<br />, .-~'J~:-i
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<br />Mortgagor further convenants and agrees, with Morlgagee. li' follows:
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<br />1. Payment., To pay the indebtedness and the interest thereonas,prQvidedin thi,s Mortgl\geancl. theNQ~.
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<br />2. Title, Mortgagor is the owner of the Property, has, lhe right and authority to mortgage the PropertY:....a,
<br />warrants that the lien created hereby is a first and prior lien on th,. Property, except as may .0thet'\Ville beset'lort4'.h!l~:'>' '
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<br />G The Property is subject to a Mortgage wherein ---"l1omlil_Feo"'ra 1 ~.<o"i ,,';J" ", T "<01'
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<br />is the Mortgagee, \'t'corded at Book ________ ,Page __.,._,., of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to lhe lien created h,'rehy,
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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 assessments and all other charges agaInst tlle Property ,
<br />and, upon written demand by Mortgagee, to add to the payments required under Ihe Note secured hereby; ,such' amount as ,
<br />may be sufficient to ellllble the Mortgagee to pay such laxes. asseSSJ;Jlents or other charges as they become due, ,
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<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, lIS Mortgagee may require, in amounts and with companies ac~'Cptable (ollie
<br />Mortgagee, and with loss payallle to the MQrtgagee;In case of loss under such policies the .Mortgagee isa.uthoriZCli'to
<br />adjust, collect and cODlpromise,in;ts djJ;cretion,a11 claimsthereunderal its sole olltion,authQrized to eitherappl;V,the
<br />proceeds. to till> restotation of the Property Or upon, the indebte,dness secured herebY, but payments hereunder shall. con.
<br />tiUl.lf until the sums secured hereby are paid in full.
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<br />5, 0 Escrow For Taxes and Insurance, Notwithstanding anything contained In paragraphs Sand 4 hereof to the
<br />contra.r:y, Moltjlagorshall pay to the Mortgagee allhe time of paying the monthly installments of IlrincitNI1and interest,
<br />Q!\l',twelft..h of till.' yearty tues,llS.,<essmellts, hazard insurance premiums, and ground rents lif any) whl~h may attain a
<br />pri<>rity Qver tl!is M<>rtgage. all as reaspnablyestimated from time 10 lime by the Mortgagee, The amounts so paid shall be
<br />held by the MQltgag(>e without interest and applied to the pa)'ment of the ite",s in respect to which such amounts were
<br />deposited., The su1lUpaid to Mortgage;> hereunder are pledged as additional security for the indebtedness secured bytbis
<br />Mortpge,,~gagorshaU pay to Mortgagee the amount of any deficiency betwe.mthe actual taxes, assessments, in.,urance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />paymentl.lul<<>of,
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<br />6, ltepJjir, Ma!llletlmee &lid U"", To promptly repair, restore or ..'build any buildings or improvements now or
<br />btll'Wlrt.r on tlw ProjX'rty; to keep the ProjX'rty in good condltion and r..pair, ...ithout wast.., and f_ from mechanic's or
<br />othtlf I..~ n"t tlxpi'l<$l;ly ."!>otanlal.d to tl1.. lien hereof; nol to make. .urf"r or p"rmit any nuisance to exhit, nor to dimin-
<br />i5t; or impair llu> value ,)1' \he Prvp<>rty by any .et or <1Il'llssi<m 10 ad; and to comply with all floquirements of law wilh
<br />....pt."'! hi the Pr"1Wlty.
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