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<br />7~-~ lei ~ .. ~ ~ ~ MORTGAGE
<br />This Mcrtgage is snt6.red rota between 1~73132T E' `~ BIIVII2L'Y A. SCHOLZ, Husband and Wife
<br />{herein "Mortgagor") and.
<br />THE OITERI,AAID NATIONAL Bd1DTfC C&' GRAND ISLANt7, Grand Islandr Nebraska{heroin"Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum oF>~ =:9.000.OQevidenced by Mortgagor's note
<br />dated March 8 ~ 1979 (herein "Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner gstd, due and payable on Septe[tbes 4 ~ 1979
<br />To secure the payment of the Note, with intezest as provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect the security of this Mortgage, and the performance of the covenants and agreements of
<br />the *?ortgab~r cent-.fined herein., Mert~agor does hereby mortgage and convey to Mortgagee the following described
<br />property located in ~-1 County, Nebraska:
<br />If3t Seven (7) in Sunset Third Subdivision located in the North One-Half
<br />of the Northeast Quarter (N'~NEa7 of Section Eleven (11) in Tr.~,anship
<br />Eleven (11) North, Range Ten (10) West of the 6th P.M., I3aII Counter
<br />Nebraska
<br />Together with all buildings, improvements, factures, streets, altey5, passageways, easements, rights, privileges and
<br />.appurtenances located thereon or in anyvhse pertaining thereto, and the rents, issues and profiu, reven;iaas and remainders
<br />thereof; including, but not limited to, heating and cooling equipment and such persona} property that is attached to the
<br />imgrovemeats so as to constitute a fixture; 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 alt of the foregoing being referred to herein as fire
<br />'`Property"
<br />itfortgagor further eonvsnants and agrees, with Mortgagee, ss fotiows:
<br />1. payment. To pay the indebtedness and fire interest thereon as provided in this Mortgage and the Note.
<br />2. Titke. 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 first and prior lien on the Property, except as may otherwise be set forth herein.
<br />^ The Property is subject to a Mortgage wherein
<br />is the Mortgagee, recorded at Soak ,Page of the Mortgage Records of County,
<br />Nebraska, whsch Mortgage is a lien prior to the lien created hereby.
<br />Q Other prior liens or encumbrances:
<br />3. Taxes, Aments. To pay when due all taxes, special assessments and ail ether charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments required undee the Note secured hereby, such amount ~
<br />may be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />4 Insurance. To keeg the improvements now or hereafter located on the real estate described herein insured
<br />against damage by fire and such other hazards ffi Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. In case of Ices under such policies the Mortgagee 's aufcfiorized to
<br />adjust, collect and compromise, in its discretion, alt claims thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall coo-
<br />. clone tmtii the sums secured'nereby are paid in full.
<br />5. ^ F.r~ow F~ Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />ecnsta~ary, Mortgagor -shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-tweiftdt- of the yearly tales, assessments, hazard insurance premiums, and ground rents (if any? which may attain a
<br />priorlCy"over this AdOrtgage, all as reaaasakdy estimated from time to time by the"Mortgagee, The amounts so paid shall be
<br />bald by tRe Mort~gee wlttsout interest earl spplied to -the payment of the items in respect to which such amounts were
<br />depoctted. The earns pall to Mortgagee hereunder are pledged as addittonat secririty for the indebtedness secured by this
<br />~- Mortgage, Mortgagorshap pap'to Mortgagee fire amount of any dafceiencybetween the actual taxes, assessments, insurances
<br />ptemiulna earl ground-reefs and the deposits hereunder within k0 days after demand is-made upon:Mortgagorrequesting -
<br />payriteritthereofi
<br />S, Itepait; Maintenapce and i2~. To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter oa the Property; ttr keep' the Property Sn good condition and repair, without waste, and free from mechanic's or
<br />other lens not eitpresslg subordinated to ttre.Il~n hereof; not to-make, suffer or permit any nuisance to exist, nor to dimin•
<br />i~lt or isFtpait the value at the Property by any act ar omission to act; and to comply with all requirements of Iaw with
<br />respect to the Property.
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