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E
<br />$2~--t~0~358
<br />MORTGAGE
<br />This Mortgage is entered into be ween DOS-LIEN, INC., A-
<br />Nebraska Corporation, herein called "Mortgagor", and FRED MEHRING
<br />and BILL PETERSON,: herein called "Mortgagee".
<br />Mortgagor is ndebted_to Mortgagee-in the principal sum of,
<br />' $377,500100 evidenced by Mortgagor`s note dated June 15„ 1982,
<br />herein!callsd "Note", providing-for payments-of principal and
<br />interest, with the balance of the indebtedness, if not sooner
<br />paid, due. and payable on'NOVember 1, 1989.
<br />To secure the payment of the Note,;with interest as pro-
<br />vded therein the payment of all other sums,.with interest,
<br />advanced_by.Mortgagee to protect the security o£ this Mortgage.,
<br />and the performances of the covenants and agreements of the
<br />Mortgagor contained herein, Mortgagor does hereby mortgage and
<br />convey to Mortgagee the-following described: property located'
<br />s.Hal1"Caunty, Nebraska:-
<br />Lots One (1), Two (2), Three (3) and Four (4)
<br />in Block-'Four (4}, in Lakeview, an add'i ion to the
<br />City ©£ Grand Island, Nebraska, .except'-a tract
<br />of land deeded to thee: City of Grand Island, more
<br />particularly described in ~Iarranty Deed recorded
<br />in Book ..164 Paqe 661.
<br />Together. with all buildings, improvements, `fixtures, streets,'
<br />alleys, passagewags; easements, rights, privileges and appurtenances'
<br />located thereon or in anywise :pertaining thereto, and the rents,
<br />issues and profits, reversions-and remainders thereof; including,
<br />but not-limited to,_ heating and cooling equipment 'and such per-
<br />sonal property-that is attached to the improvements so as to
<br />constitute a fixture; all of which,-including replacements and
<br />additAns thereto, is hereby ,declared, to be,a part of the real
<br />estate'secured by ,the lien of this Mortgage ;and a:~l of the fore-
<br />. going :being referred to herein as the "Property".
<br />Mortgagor further convenants and agrees, with Mortgagee, as
<br />fo lows:
<br />1. Payment. To pay the indebtedness-and the interest
<br />thereon. as provided in this Mortgage, and the Note..
<br />2: Title. Mortgagor as the owner of` the Property, has the
<br />right and autharity;to mortgage the Property, and warrants that
<br />the lien:. created hereby is a first and prior lien on the ,Property.::
<br />3, Taxes, Assessments. -To pay when due all taxes, special
<br />assessments: and all other charges against the Property and,'-upon
<br />written demand by,MOrtgagee, to add to the payments required under-
<br />the Note secured hereby, such amount `as may be sufficient to
<br />enable the Mq~tgagee to pay such taxes, assessments or other
<br />charges as they become-due.
<br />4. Insurance. To keep ne improvements now or hereafter
<br />located on t~-¢ real<estate described herein insured against
<br />damage by fire and such other hazards as Mortgagee may 'require,
<br />is amounts and with--companies acceptable to the Mortgagee, and
<br />with loss pa,-able-to the Mortgagee.; Zn case of loss under such
<br />poiicies the ~~artgagee is'authorized to adjust, collect and,
<br />compromise, is its. discretion, all claims thereunder a its sole
<br />ap*_ior:, authorized to either apply the proceeds to the restoration
<br />o` the Property ar upon-the indebtedness secured-here6y,.but
<br />payments heL under shall continue until the sums secured hereby
<br />are paid in `ull.
<br />- 5. F.epair, Maintenance and Use: To promptly repair, restore
<br />ar :ebuiid any buildings'or improvements now or hereattPr on the
<br />Property; to keep the Property i? good condition and repair,wit.haut
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