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~~~ `' t ~ ~ t~ ~ MORTGAGE
<br />This Mortgage is entered into between HARRY D. S1ti4ITIi AMID SHIR.LEY L. Sb4ITH, Husband and
<br />nice (herein "Mortgagor"} and
<br />THE OVEIi.LA1`ID NATI~TAL BANK OF GRAND' T$LEIIt~ID _(herein "Mortgagee"}.
<br />Pdortgagar is indeb'~' to Mattgagee in the princiF:at sum of $ 12.500. QO ,evidenced by Mortgagor's note
<br />dated- 3 f~,5~79 _ (herein "Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on~ f 84
<br />To secure the payment of the Note, with interest 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 Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following dascdbed
<br />property located in Ha] 1 County, Nebraska:
<br />The Fast Ha_f of Intl 136 and 137 in Belmont Addition
<br />to the City of Grand Island, Ha11 County, Nebraska..
<br />Together with a!l buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents. issues and profsts, reversions and remainders
<br />therea#; including, but not limited to, heating and caa}ing equipment and such personal grogerty that in attached to the
<br />improvements so as to constitute a fixture; aiI of which, inchrding replacements and additions thereto, is hereby declared
<br />to be a part of the real estate secured by the lien of this 3ortgage and all of the foregoing being referred to herein as the
<br />„~o~~„
<br />Mortgagor further conveuants and agrees, with Mortgagee, as follows:
<br />1. Payment. To pay the indebtedness and the interest thereon as praviaed in this Mortgage and the Note.
<br />2. Tile. Mortgagor is the owner of the Property, has the right and authority to mortgage the Propertp, and
<br />warrants that the lien created hereby is a firs[ and prior lien on the Property, except as may otherwise be set forth herein.
<br />~ The Property is subrect to a Mortgage wherein
<br />is the Mortgagee, recorded at $ook ,Page of the Mortgage Records of County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />D Other prior liens or encumbrances:
<br />3. Taxes, A.ssaents. To pay when due stE taxes, spc-vial asments and ail other charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments required under the role secured hereby, such amount as
<br />may be sutfieient to enable the Mortgagee to pay such taxes, a~essmentc oz 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 as Mortgagee may require, in amounts and with companiesaeceptable to the
<br />ArEortgagee, and with loss payable to the Mortgagee. In ease of loss under such policies the Mortgagee- is authorized to
<br />adjust, co}lect and campmmise, in its -discrerion, all claims thereunder at its sole option, authorized to either apply the
<br />proceeds to rice restoration of the Property or upon the indebtedness secured- hereby, but payments hereunder shall eon-
<br />tintre until lire sums secured hereby -are paid in full.
<br />6. L Eaersw Fa; Tares and Insura:see. Notwitbstandiag anything eoniained is paragraphs- 3 acrd 4 hereof to the
<br />conixary, Mortgagor shall-pay: to the Mortgagee at the tiro oC paying the monthly instaltments of:principal and interest,
<br />~e-twaifth aY the peaty taxes,:assessments, hazard_iasuraace premiums, and ground rents (if any} which may attain a
<br />prlrxity over this Mortgage;.ali as reaaonab2g estimated from time to time by the Mortgagee. The amounts so paid shalt be
<br />held by the Mortgagee without interept and applied to the- payment of tite items in respect to-which such amounts were
<br />depgetied, ' sums paid"to Mortgagee hezeunder.are pledged as addltionai securty for the indebtedness secured by this
<br />Hlortg~tge: Mortgagarshait pay to.MdrEgagee the alnqunt-of.taty de6eierrcy between-the actual taxes; assessments; insurance
<br />premiums and ground reztts-and fihe-deposits Hereunder within _10 days after demand is made v}wn Mortgagor requesting
<br />• payrsrwtt ~Irereof.
<br />8. Sepsis, Malntenanat and LTse. To promptdy_ repair, restore or rebuild any buildings or improvements now or
<br />hereafter oa the 1?ropeYty; tis keeg the Property itt good cbndttian'and repair, without waste, and free from mechanic's or
<br />otherlfeas eat esgresely subordinated to tltbiien hereof; not to ma$e, sufferor permit any nuisance to exist, nor to dimin-
<br />litt ar' impair :the-value of the Property by any set or omission to act; and to comply with-all requirements of law with
<br />respect to thr Property,
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