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<br />This MotEgage is entered late between +v~ ~• FAt~`zI L dnd DC7I?L"Ii3Y x. FRRRP,LL,
<br />~ axld Wife {herein "Mortgagor") and
<br />TIfiE ~ NATIONAL BAIL {~ t'1~'ID TSLAND, Grand Islarrc, NP.braska~erein"Mortgagee„).
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 5D, 000 • ~~ ,evidenced bq Mortgagor's note
<br />dated .April 10, 1979 (herein-"Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if trot sooner paid, due and payable on April 15, 1986
<br />To setarre the payment of the Note; with interest as provided therein, the payment of alt 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 hereia, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />L property lUCated 1ri' Ball County, Nebraska:,
<br />-Cats Five (5) , Six (6) , and Seven (7) all in Farrah S'uixiivisi~n,
<br />Hall Cotutty, Nebraska
<br />Together with a![ buildings, improvements, factures, streets, alleys, passageways, easements, rights, privileges and
<br />appnrtenerrces located thereon or in ahywise4pertaining thereto, and the rents, issues and Profits, reversions and remainders
<br />tiiezeof; indudtng, hat not limited to, heating. and cooring equipment and such personal property that is attached to the
<br />improveunents so as to constitute a fixture; all of which, inciudrng replacements and additions thereto, is hereby declared
<br />td be a pert of the real estate secured by the lien of this Mortgage and atl of the foregoing being referred to herein as the
<br />"Property".
<br />- Mortgagor further coneenants and agrees, with Mortgagee, as follows:
<br />1. payment. To pay the indebtedness and the interest thereon as provided in this Mores and the Note.
<br />2. Title. Mortgagor is the owner of the Property, has the right sad authority to mortgage the Property, and
<br />warrants -that the tiers created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein.
<br />Q The Property is subject to a Mortgage wherein
<br />- . thee, ~d at &x k ,Page of the Mortgage Records of - CountY+
<br />Netsaska, which Mortgage is a lien prior to the lien crosted hereby.
<br />L7 Other prior liens or encumbrances:
<br />8. Taiea, Aaeeasmenta. To pay when due all tries, special assessments and all other charges against the Property
<br />cad, apon written demand by Mortgagce, to add W the payments required under the Note secured hereby, such amount es
<br />may be auffieient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />9. Insaranr4. To keep the improvements now or hereafter located oa the real estate described herein insured
<br />agalatat damage by fire and arch other hazards >a Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with toes payable to the Mortgagee. In case 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 Go either apply the
<br />Pmt;eede to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />titiue uhtll the strata secured hereby ate paid In full.
<br />5., Q- Ea~ow .Fat Taxs and [nauraace: Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />iawltii~uq!,;_~r shall- Pay W lire Mortgagee at rite tirtw of Ireying the monthly irastalltnents of principal and interest,
<br />of the yeaidy_-taaaa;.awesamepts; harard Irsturance premiurnc, and irto4tnd rents (tt any)which may attain s
<br />l~+ over th~-Mort, ail as_aabty estimated faom time W time by the Martlptgee. The amounts so pa+d shall be
<br />held #~+~e li~t~oe tt.intareat-and applied trr the payment ,of the items in respect to which sack amounts were
<br />depn~ad. '1'~ arms prtld tQ Marypigee heaoundar see pbedEed as additional security for the indebteda~s secured by this
<br />iMOrt~caDraAdi pay W e fba amount of atrp defieisacy between the aetnal taxes, assessmenCA, Itaturance
<br />,.. _ paeanjiitss 11fl4°~Rnd rents }in$_t~ is hecauader, within i0 days after demand is made upon Mortgagor requesttng
<br />payrnentthereof. '
<br />f-. ,Maiatsanance ttfrd~xe, '?o proroy rcePlf, res'cpre trr rebuild any buildings or improvements now or
<br />hereafter. on the Property; to litep ihe.~operty~>t' editiiision and re°~lr, wldrottt waste, and free from mechanic's or
<br />odtc3 rely subo~inrited to fit fat: 88tto ~sltse. sty oriit any nuisance trr exist, nor to dirrin-
<br />bi~ trr, itapr~r the value of the Property isy-say MCt ax otaialcm iv act; attd to comply with all requirements of [aw wiih
<br />respect to Ixttaty.
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