|
<br />MoxTCAC>J ~ 2 ~ d 1 ~ 15 ~.;
<br />r This'vlorigauc se.taredinto-between Randall W. Stewart and Gerald E. Wortman
<br />----- -
<br />_ (herein "Mortgagor'') and..
<br />,FI~~E POINTS BANK (herein "Mortgagee").
<br />Mortgagor is indebted. to Mortgagee: in tire. principal: sum of 8 ~ 0()0'.00 , evidenced by Mortgagor's note
<br />dated _ 4 / 21 / 82 {herein 'Note")pravidit g for payments of principal and-inter¢st, with the balance of the
<br />indebtedness, it not scone%paid, due and payable on _10/ 18/82. .
<br />To secure the payment of the Note, with interestas provided therein, the payment of all other snms, with interest,
<br />advsnced by Mortgagee to protect tbesecurity of thisMortgage,andthe performance of the covenants~.and agreements: of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage- and convey to Mortgagee the following described,
<br />property located in: Hall County, Nebraska:
<br />Lot Six (6), in Block Two {2), in Westerhoff's Second Subdivision,
<br />being a Resubdivison of the South Half (S'~) of Blocks Three (3)
<br />and Eour (4) and the North Half (ISM) of Blocks Five (5) and Six
<br />(b), Westerhoffrs'Fr; Subdivision, in the Gity of Grand Island, Hall
<br />County, Nebraska.
<br />Together with ail buildings, improvements, fixtures, streets, alleys;-passageways, easements, rights; privileges and
<br />appurtenances located thereonpr in anywise pertaining thereto, and tEte rents, issues and profits, reversions and remaiindets
<br />theraof; 'rnduditrg, but' not limited to; heating and codling equipment and such personal property than is attached to the
<br />tmprorements so as to rnn4titute a fixture; ail of which, including :replacements and additions thereto, is hereby declared
<br />to 6e a part of the real estate secured by the lien. of this Mortgage and ell of the foregoing being referred to herein as tree
<br />"1'ropcrty'
<br />furttrerconvenania and agrees, with Mortgagee. a; follows:
<br />!• Payment.. To pay. the. indebtedness aM the irtterr,a. thereon as provided in this Mortgage and the. Note.
<br />R. Tiftle. Mortpgoc is the owner of the Property, has the right and auttionty t.o mortgage the Property, and
<br />wtcrants that the lien created'henby is a fiest and prior lien on the Property, except as may otherwise be xt forth herein.
<br />~ The Property is subject toaMort`a~e wherein "__ First„National Bank & _Trust Co. Lincoln, NE
<br />_ Hall. .: •
<br />is the Mortsa~e, teco[dedak Book 57 . ~, py~.~47$ _ of the Mortgage Records of ~$$$~,_,_(aunty,.
<br />Nebraska, whklt MoRpge is a lien prrorto the lieu emoted hereby.
<br />~ ONerprlO[illn6orCQCUmbranCeS:_,,..„ ~4ca'. nmpnt of Mnr a p .tn Federal g
<br />$ rQ~ Nattnnal Mnrtcaa e
<br />Association recorded in Bopk 57 Pane 47$ in~the Re>zister of Deeds Afficer
<br />Hall County. Nabraska °
<br />3. Taus.:aseaimen4. To pay when due all taxes, special assessments and all other charges against the Froperty
<br />and, upon wdtten demand by Moriga~ee, to add to the payments requited under the (date secured hereby, such amount ss
<br />may be wffiaent to enable the Mortgagee to pay such: taxes, assessments nr other charges as they become due.
<br />4. Irwrancc. Ta keep the improvements: now or hereaftet_3oeated on the real estate described herein insured
<br />against damage by fire and wc6 ether hazards as Mortgagee may require, in amounts and with companir~s acceptable to the
<br />Mort;agee, and with loss payable tq the Mortgagee. In case of loss under such policies Lhe Mortgagee is authorized to
<br />sdjust,callect and compromise in its discretion, all cfaimsthereuader:atitssole..option,.authoriaedtoeitherapptythe
<br />proceeds to the restoration e( the Propetty oa upon. the indebtedness secured hereby, but payments hereunder shall con-
<br />tinue until the suers secured hereby are paid is full.
<br />S. ^ Pacrrw For '1'a><es and inwraere. Notwithstanding anytbingcontainedinparagraphs 3 and.A hereof. to the
<br />contrary, ?dortgagor shall pay to Lhe Mortgagee at the time of paying tl:e monthly installments of prinei~pal and iote>•est,
<br />one-twelfth of the yearly inyes, assessments, hazard insurance premiums,. and ground rents (if anyjwhich ms!yatta3n a
<br />priority. over thL Mortgage, all as reasonably estimated [ram time t.o time by the Iortgagee. The amounts so paid shall be
<br />Tretd by the Mortgagee without interest and applied to the payment. of the item, in respect tosvhiehsuchamounts-were
<br />deposited. The sums paid to Mcrtaagee hereunder are pledged as addikicnal security for the indebtedness secured !iy this
<br />Mortgage, hSartgagorshallpay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />p.~miums and ground rents and tho deposits hereunder within 1Q days aflke demai7d is made upon Mortgagotrequesting
<br />payment thereof.
<br />&. Repair, Maintenance and Tice. . o promptly mpair, restote or,rebuild any .buildings or improvements now or
<br />hemaft.r an the Properly; to. keep the Property in goad condition and"repair, withoutwaste,:and frec..from-mechanic's or
<br />ethe+liens not eapressty Subordinated to the Len aareof; ^ot to make, suffer_ot percnitany;nulsanrx to-exist, nor to dimin-
<br />ish or impair the value of the Property by srry act or omissiortaa act;,and to comply. with aiTregairemen.ts of !mmw with
<br />r.'speCti to :he Property.
<br />
|