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MORTGAGE .~ ^~ ".,~ 3) ~i ~ `~ Qr `-~
<br />This Mortgage is entered into between E. DEAN SVOLFE and JI7DI7Ii A. A'OLFE, Husband and
<br />~_S4r1'fe _____~_____,_._ _- ~_~.__ (herein "Mortgagor") and
<br />3fiE GVERI~ID N.~:TIONAI, BANK OF GRAt~ID ISI,AAID, Grand Island~Nebraska _(herein •`Mortgage+e").
<br />Mortgagor is indebted to Mortgagee in the principal sum of ~ . 27 • ~G• ~ ,evidenced by :vlortgagoe's note
<br />dated _FebrttarV 4, 1982 (herein "Note") providing for payments of principal and interest., with the balance of the
<br />indebtedness, if not sooner paid, due and nayabte on AUguSt 3, 1982 .
<br />Tosentre the payment of the Note, with interest as gmvided therein, khe payment of all other sums, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgage, and the performance of the covenants anal agreements of
<br />the Mortgagor contained herein; Mortgagor.does- hereby mortgage and convey to Mortgagee the following described
<br />property located in Fiat1 County, Nebraska:
<br />All of Block Three (3?, Roush Subdivision, in the
<br />CitSr of Grand Island, Hall County , Nebraska.
<br />Together with al! buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located.. thereon or in anywise pertaining thereto, and the rents issues and profits, reversions and remainders
<br />thereof; including, but not. limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements so as Lo constitute a fixture; all of vvhirh, mciudiug replacements and additions thereto, is hereby declared
<br />to be a pan of the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"Peopeety"
<br />Mortgagor t~trther convenants and agrees, with Mortgagee, as follows:
<br />1. Payment. To pay the indebtedness and the mterest thereon as provided m this Mortgage and the Note.
<br />2. Tine. Mortgagor is the owner of the Property, ha the nght and authority Lo mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior lieu on the Property. except as may otherwise be set forth herein.
<br />Cl The Property is subject too Mortgage wherein _._._. _._______ ________._-,.__.
<br />is the Mortgagee, recorded at Book _- ,Page ... __ _ of the Mortgage Records oi' __. _-_ __.___~ County,
<br />Nebraslra,wlticb Mortgage is a lien prior to the lien rreated hereby.
<br />Ct t)ttter prior liens or encumbrances:. __ . _ __ _ _ __
<br />3._ Taxgs, Ptssessntents. To pay when due ail taxes, special assessments and all other charges against the Property
<br />and, upon written demand, by Mortgagee, to add to the payments required under the `Sole secured hereby, such amount as
<br />may be suft5cient to enable the Mortgagee to pay such. taxes, assessments or other charges as they become due.
<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 muy require, in amounts and with companies acceptable to the
<br />' Mortgagee., and w'sth toss payable to the ialortgagee, In case of toss under such policies the Mortgagee is authorized to
<br />adjust, collect and. compromise, in its discretion, ail claims thereunder at its sole option, authvrized to eithee app}y the
<br />proceeds to the restoration of the Property or upon-the indebtedness secured hereby, but payments hereunder shall. con-
<br />... time until: thesums secured. hereby are paid in Putt.
<br />5. u Escrow For.Tases and Insurance_ NoEwi±hstanding any thingconlained in paragraphs :i and 4 bereoi to .the
<br />cnntra rc. Motteaeor-shall pay to.. the Mortgagee. at the time of paying the monthly installments oC principaland interest,
<br />obedw~eiEth o*.'lthe yeazly taxes,. assessments,. hazard insurance premiums. and ground rents (.iC any) which mayattain a
<br />prior:ly over this Mortgage, ail as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortgagee without interest and: applied o the: payment of the items in respect to which such amounts were
<br />deposited. The swr~5 paid to Mortgagee. hereunder are pledged. as additional security for the indebtedness secured by this
<br />_ ~luriage. Aiortgagur"'zal! pay to Mortgagee the amouhtof any deficiency beuveen the actual taxes, assessments, insurance
<br />premix;ms and grour•d rerw aadthe depos}tshervumderwnthin 1:U days after demand is made upon Mortgagor requesting
<br />pap vent t3uzeufr _
<br />6. ftepair,.'.feirtenance and Use. Toprotnptiy repair, restore or rebuild any buiidirtgs or imgzovemertts now or
<br />hereafterorsthe PrgpertY; to keeptheProperty in gACZd condi lion and repair, without waste, and tree from mechanic's or
<br />ipttrer lietunat exgresslysubordnatedto the Bert hereof;-not to make, suffer cx permit any nui:wancar to axisi, nor to dimia-
<br />is3c or~ iirtpair the value of ahe Property by any act or orni.~s-iort to act; and Eo comply witF. ai[ mquin~rnenis c:f taw with
<br />n~speet to: £he Property.
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