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<br />~2-w~U4~~~
<br />MORTGAGE
<br />This Mortgage is entered into between William R. Fasrall
<br />(herein "Mortgagor") a»d
<br />TIC UVE~tI.APff_l NATIONAL BANK OF GRAbID ISLAND ('hand Island NE _ _(herein •'Mortgagee"). .
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 64,x.10 ,evidenced by Mortgagor's note
<br />dated Novgnber 10, 19$2 (herein "Note") providing for payments of principal and interest, with the balantx of the
<br />indebtedness, if not sooner paid, due and payable on November 10 1985 ,
<br />=.•-To secure the payment of Lhe Note, with interest as provided therein, the payment o[ all other sums, with interest,
<br />adira`rtifi' M3irtydgee to protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the rrtpagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located~in Hall_~._._ County, Nebraska: - -
<br />Sots Five (5), Six (6), and Seven (7), All
<br />in Farrell Subdivision, Hall County, Nebraska.
<br />Together with alt 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; inetudintt, but not limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements so as to constitute a ftxtuee; all of which, including replacements and additions thereto, is hereby declared
<br />to be a pazt of the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />..~peKy,,.
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />- 1. Payment. To 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 the lien created hereby is a f rst and prior lien un the Property, except as may' otherwise be set forth herein.
<br />^ The Property is subject to a Aortgage wherein ..__ -- --- -- __ -----_---------_ --.~___..--_-_~~
<br />is the Mortgagee, recorded at Book _.___.. ,Page _ __._. _ of the Mortgage Necords of . ____.__-._____ County,
<br />Nebraska, which Mortgage is a lien poor to the lien cn•atrd hereby.
<br />OOtherpriorliensorencumbrances:_ -.._.___. ___.__._.__.__._._.._.
<br />3. Taxes, 2155essments. To pay when due all taxes, special assessments and alt 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 pay such taxes, assessmenta' or other charges ac they become due. -
<br />d. lnsurmce. To keep the improvements now ar hereafter located on the real estate described herein insured
<br />against damage by Gre and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. [n case of lass under such policies the Mortgagee is authorized to
<br />adjust, collect and rnmpromise, in ifs discretion, all claims thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Yroperty or upon the indebtedness5 secured hereby, but payrents hereunder shall co+t-
<br />time unfit the hums secured hereby are paid in full.
<br />5. C7 Escrow For Taxes and Instrrar•.ce. Notwithstanding anything contained in paragraphs :3 artd a hereof io the
<br />contrary, Mortgagor shall pay to khe Mattgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly- taxes, assessments, hazard insurantee premiums, and ground rents lit' any; which tray attain a
<br />priority aver this Mortgage, aft as reasonably estimated from time to time. by the Moregagee.'1`he amounts so paid shalt be
<br />held by Ute Mortgagee without lntetest and applied to the payment of She :tams in nypect tU which such amounts were
<br />dept>rtited. 'Phe slims paid to Martgagee hereunder are pledged ~ additibrial security for the indebtedness secured by this
<br />?kuYgage. Nlartgagtxshaitpay to Mortgagee the amount of any deficiency between the actual taxes, assessments, itasurartce
<br />premiums and ground rents and the depw;iis hereunder within i0 days after demand is made upon: ~agor requfstmg
<br />payatent thereof.
<br />fi. Rvpalt, Maintenrace and lta. To promptly repair, msz<~re or rebuild any' buildings ur impmvernants now ar
<br />ttereaftar on the Properly; Lo .keep thm Property in good cortdiitorr and repair, without waste, and free from n:echanie's or
<br />othrritena nut:rxpt~tstly sutwrdinated to the Itatt hereof; not to tpakr, suffer ar permit any nuisance io exi>t, nor tc+ dimin
<br />- islt cir itttpaer the value of Lbe Pte7perky by a.•ty act or ctmiaaion t[a nit; and to eompdp= wV=.h all rwyuiremruts of law with
<br />f+'sPr^t"t Lo the Prupertr.
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