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<br />MORTGAGE g~-- t1Ci4~U7
<br />.This Mortgage is entered into between Donald L. Leeoer and Elizabeth J.
<br />l;aappr Heabar~d and. W1fe (herein"Mortgagor")and
<br />FIVE FOSNTS-SANK;
<br />(herein "Mortgagee")
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 2.500.00 ,evidenced by Mortgagor's note
<br />dated 1115/$2 (herein "Note-^) providing for payments of principal and interesE, with the balance of the
<br />indebtedness, it not sooner paid, due and payable on S /4 / 83 .
<br />Tosafage tde payigent of the Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanced by MoiEgiigee tip.protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the Mortgagor Q'~to~plad,.herein, -doryiagot does hereby mortgage and convey to. Mortgagee the following described
<br />property located in Hall County, Nebraska:
<br />Lot Three (3) in Block Sixteen (16) in Town of Wood River, Hall County,
<br />Nebraska
<br />Together with all buiidiags, 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 />tdtereof; including, but not Limited to, heating and cooling equipment and such persona! property that is attached to the
<br />improvements so as to constitute a fracture; all of which, including replacements and additions thereto, is hereby declared-
<br />- to be a part of the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the.
<br />„~perty„
<br />Mortgagoi further convenants and agrees, with Mortgagee, as follows:
<br />1. Payment: Ta pay the indebtedness and the interest thereon as provided in this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and
<br />warrants that fire Hen. created hereby is a fin;t sad prior lien on the Property, excep4 as may otherwise be set forth herein.
<br />9 The Property is subject to a Mortgage wherein First Federal Lincoln
<br />is rite Mortgagee; recorded at Book ,Page _ of the Mortgage Records of Hall County,
<br />Nebraska; which Mortgage is a Hen prior to the lien created hereby.
<br />liaOtherpriorHensotencumbrances: Five Points Bank Doc.li 81-003119, Hall
<br />- - - Tnit~y Rsgj~•er of Deeds. June 16, 1981 - -
<br />3. Taxes, Aaaessments. To pay when due sit Laxes, special assessments and all other charges against the Property
<br />and,. upon written demand by Mortgagee, to add to the payments required under the Note secured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to paysuch taxes, assessments or other charges as-they become due.
<br />4. inau[auce. To keep the improvements now or hereafter located on the rest estate described herein insured
<br />against damage by Gre and such other hazards as Mnrtgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and. wild lass payable to the Mortgagee. In case of loss under such palictes the Mortgagee is authorized to
<br />adjust, cdlect ,and compromise, in its discretion, ail claims thereunder at its sole option, authorized to either apply the
<br />proceeds to the mto;ation of the Property or upon the indebtedness secured hereby, but payments hereunder shall con--
<br />' _tinue until the sums secured hereby are paid in full.
<br />5: O ~aaw I?or Taxes end Idsurance. Notwithstanding any thing contained in parngraphs 3 and A hereof to the
<br />c!wtttfcg, Mortgagor shall pay. to the_ Mortgagee at the time of paY~g the-monody insmlio~nts of pHneipal and interest,
<br />o~-tw~t~±- of the yaaHy Cartes, assessments,. hazard insurance prniniums; and ground rents (if afl;) wtuch may attain a
<br />pzlarit,y over this Mortgage, sit as reasonadiy estimated from time to time lay the Mortgagee. The amounts so paid shall be
<br />held ray the Mottgt~ee without intarest aad applied to the; payment of the items in respect to which such amounts were
<br />depnlted,. The sums paid to Mostgagee hereunder am pledged as additional security for the indebtedness secured by this
<br />{ >yfortaabe, MorgpagorsdeU pay to Mszrt$agee the amount;o[ any defreieney between the actual taxes, assessments, lasurannce
<br />ir..., premiums anal;rogpd, rents and lise dsp~its hereunder within '_0 Jaya after demand is made upan °•' : eargat requesting
<br />paynxmi tlecregf. , -
<br />6. itopair; Ualatrnaace and Use, To protnplly repair, restore or rebuHd soy buHdinga ui improvemvnta now or
<br />hereafter vu rile Property; to Esep the:Ft+ppertY In good roitdi#lon and repair, without. wasix, sad free from mechanic ~ or
<br />other liens not pxpresely sui~,arditrated to IAo lien lteeeof; not to _tnnite, osier or perm[t any! nuisance to exist, nor to dimin-
<br />ttis ur tnapatr rite aav rs of the'Frop~rty by any set yr omission to act; and to comply wish sit mquirements of law wilts
<br />raayaet Ga the t!7oprrty,
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