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<br /> MORTGAGE
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<br /> lbo. Mortpr is catere4 Into between__arae,=~L~~=d_
<br /> Husband and Wib~, (herein "Mortmor") WPI
<br /> Five Points Bank (herein "MortgIVe").
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<br /> Mortgagw is indebted to t,4ortllagee in the principal sum of $ -1-0-t-(-7 5 - 32 evidenced by morLgagoes note
<br /> 1984 (hemin "Note") providing for payments of priqcipal and interest. with the balance of Vie
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<br /> Indebtedness, ir, not swner paid, due and payable on January 18, 1987 _
<br /> To rRcure the payment of the Vote, with interesc' as provided therein, the payment or all other sums, with Intevest,
<br /> advanced by Mortgagee to protect the siecurity"of this Mortgage, and the performance of the covenants and agreemen't; of
<br /> the Mortgagor contained hvreln, Mortgagor-does hereby mortgage and convey to Mortgagee the following described
<br /> property located in ia1L__ County, Nebraska:
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<br /> Fractional Lot One (1) in Fractional Block Twenty (20) in Palmer's
<br /> Subdivision of Lot Seven (7) of the County Subdivision of the
<br /> Southeast Quarter of the Southwest Quarter (SEkSWk) of Section
<br /> Sixteen (16) in Township Eleven (11) North, Range Nine (9) West
<br /> of the 6th P.M., and its Complement, to-Wit: Fractional Lot One (1)
<br /> in Fractional Block Twenty (20) of Kernohan and Decker's Addition
<br /> to the City of Grand Island, Hall County, Nebraska
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<br /> Toget,ter with all buildings, improvements. fixtures, streetz, alleys, passar, ways, easements, rights, privileges &Pd
<br /> appurtenances located thereon or in anywise pertaining thereto, and the rents issues andprofits. reversions wid remaindert.
<br /> thereof; including, but not limited to. heating and cooling equipment and such personal property that is attached to the
<br /> irnprovemeats so as to constitute a fixture; all of which. including replacement-, and additions thereto. is hereby declared
<br /> to be a part of the real csLatR secured by the lien of this Mortgage and all or the foregoing being referred to herein as the
<br /> "Property".
<br /> Mortgagor further convenants and agrees, with Mortgadve. as foliows:
<br /> 1. PayrnenL To pay the indebtedness and the intemt thereon as provided in thi;i Mortgage and the Note.
<br /> 2. Title. Mortgagor Is the owner of the Property, hws the right and authority to mortgage the Property. and
<br /> warrants that the lien created hereby is a first and prior lien oil the Property, rxcept as may otherwisebe set forth herein.
<br /> 0 The Property is subject to a Mortgage wherein
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<br /> is the Mortgagee, recorded at Book Page--- of the Mortgage Records of ----County,
<br /> Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br /> 0 Other prior liens or encumbrances:
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<br /> 3. Taxes, Assessments. To pay when due all 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 Note secured hereby, such amount as
<br /> may be sufficient 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 /> agiunst damage by fire and such other haxards as Mortgagee may require. in amounts and with companies acceptable to the
<br /> Mortgagee, and with loa payable to the Mortgagee. In ewe of loss under such policies the Mortgagee is authorized to
<br /> Adjust, collect and compromise, in its discretion, all claims thereunder at its sole option, authorized to either apply the
<br /> proce-is to the restoration of the Property or upon the indebtedness secured hereby. but payments hereunder shall con.
<br /> tinue un' it the sutrs secured hereby are paid in full.
<br /> 5. 0 134crow For Taxes and Insurance. Notwithstanding anything contained In paragraphs 3 and 4 hereof to the
<br /> contrary. Mortgagor &hall pay to the Morigagep at the time of paying the monthly installments of principal and interest,
<br /> one-tweirth of the yt*rly taxen, assessments, hazard Insurance premiums, and ground rents (if any) which may attain a
<br /> priority oter this Mortgage, &It as reasonably estimated from time to time by the Morltipig". The amounts so paid shall be
<br /> held by the Mortgagm without interest and applied to the payment of the Items in respect to which such amounts were
<br /> deposited. The sums paid to Mortgagee hereunder am pledged as additional security for the indebtedness secured by this
<br /> Mortgage- M~-3rtgagor shall pay to Mortgagee the amount of any deficiency b rtw"n the actual taxes. assessments, insurance
<br /> premiums and ground rents and the deposits hereunder within 10 days after deirand is made upon Mortgagor requesting
<br /> paymmit themof.
<br /> S. Repair. Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or
<br /> hereafter on the Property; to keep the Property in good conditionand repair. without waste. and free from mechanic's or
<br /> other liens not expressly subordiTiated to the lien hereof; not to mtlne, suffer or permit any nuisance to exist. nor tci dimin-
<br /> ish or impair the value of the Property by any act or omission to act; and to comply with all requ.1rements of tow with
<br /> respect tz the Proivrty.
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