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MORTGAGE This Mortgage made this ~ day of February, 1982, bE!tween MORRIS ~. DREi3ER and BETT`l J. DREFiER, husband and wife, each in his and tier own right and as spouse of the other, herein- after referred to as Mortgagors, and E. LOREEN ZLTSPAN, Mortgagee. IN CONSIDERATION OF SIXTEEN THOOSAND AND NO/100 DOLLARS ($16,0'00.00} advanced by Mortgagee to Mortgagors, who acknowledge retceipt of such sum which is evidenced by a promissory note of even date (hereinafter referred to as "the Nate") which this mortgage seeures, the Mortgagors, jointly and severally. hereby mortgage to the Mortgagee the following described real property situated in the County of Hall, State of Nebraska, and described as follows: The Northerly Sixty and Thirty-five Hundredths (N. 6fl.35) feet. of Lot Five (5), in Block Eighty-three (83), in the Original Town, now City, of Grand Island, Hall County, Nebraska, together with. all rents, easements, appurtenances, heredtaments, interests in adjoining roads, streets and alleys, improvements and buildings of any kind situated thereon and all personal. prop- ~.*~ t ?-~+at may ir.*_egrally belong to or hereafter become an integral part of such buildings and improvements, to such real property (collectively referred to as °the Property"}. Mortgagors covenant with Mortgagee and her successors in interest that (i) Mortgagors bald title to the Property in fee simple. and have lawful authority to mortgage the same, (ii) the Property is free of liens and. encumbrances, and (iii) Mortgagors will defend the Property against the lawful claims of any person or entity. 1. PAYMENTS. Mortgagors skzall promptly make all pay- m~ents required u'-n~c er -tfze Note and any other instrument securing the I+So to . 2, TAXES. i~Sortgagars shall pay each installment of ail taxes and special assessments of every kind, now or here- after levied and assessed against the Property ar any part there- of, before same kaecomes dellinquent, without notice or denand, and shall. provide Mortgagee with evidence of the payment of same. Mortgagors shall. pay all taxes and assessments which may be levied upon Mortgagee's interest herein or upon the Mortgage esr the ~Iei~t secured hereby without regard to any law that may be enacted imposing payz~nt o£ the whole or any part thereof upon. the iKOrtgagee 3. Ti~TSiItZR.NCE r'3tND REPAIRS. Mortgagors shall maintain fire and extended co;rerage insurance insuring the improvements and buildings consf.tuting part of the Property for an amount equal to the actual cash value of such improvements, exclusive of foundations, but in no event fo.r an aa-nount less than the amount of the unpaid principal balance of the Note. Such. insur- e an:-e pol:cias shall contain a standard mortgage clause in favor of Mortgagee and shall not be cancellable, terminable or modif- male without ten (10) days written notice. to kortgagee. Mortga- ~Oru ~h-. t'T rr^~x }^ly me~a i ,- Main ar~e3 re~plara the Prnp,pr ty ar any part~tttereof sa that,+except~for ordinary wear and tear, the Pc~opesty shall nvt deteriorate. In ro event sha1Z the 3•lortgagors caar,~-nit waste.. an or to the Property. y . CPTI~~T~Ts_L ADUA2dGF.S_ If the insuranY~e required above is riot ~ra~r~pkly ~ectzcT, or of the taxes. ar spec:ial assessments lexica ar,c u.~-asesse;~ against the Property shall become delinquent, -1-