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<br />This Mortgage is entered into between FitAI.L ~'4TY INVr83'tly'!~P GROIIP
<br />(herein "Mortgagor"] and
<br />gIE OVEBI~AND NATI~idAL BANfC OF CdtA'+!D ISLAM, Grand Island, N~ (herein "Mortgagee"}.
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ `I =~• ~ ,evidenced by Mortgagor's note
<br />dated MaV 7, 1979 (herein "Note") providing for payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on. Noverri~er 5 = 1979 ,
<br />To secure the payment of the Note, with interest as provided therein, the payment of all other sums, with interesk,
<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 described
<br />property 7oeated is Ball County, Nebraska:
<br />Lnt Nine (9) in Block Five (5) in H. G. Clark's
<br />Addition to the City of Grand Island, Nebraska
<br />Together with all buildings, improvements, fixtures, sheets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywisepertaining thereto, and the rents. issues and profits, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements so as to constitute a fixture; alt 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 all of the foregoing being referred to herein as the
<br />"Property"•
<br />Mortgagor further eonvenants 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, hay 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 />_ 58 the Mortgagee, recorded at Book ,Page of the Mortgage Records of
<br />Nebraska, which Mortgage is a Tian prior to the lien created hereby.
<br />O Other prior liens or encumbrances: _
<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 suf°;cient 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 />against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with Ices 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 to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con-
<br />. - tlnue unt3! the sums secured. hereby are paid in furl.
<br />_ S: Q F,acrow For-Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgager shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest, `"~
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priprity Aver. this Mortgage, all as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall 6e
<br />herd by the MQrtgagae without.intereat and applied to the papment of the Items in respect to which such amounts were
<br />deposited: Tito sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage: Mortgagorehati pay to Mortgagee {he amount of airy deficlency between the actual taxes, assessments, insurance
<br />prerniums itnd grouud'rerita end'the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof:-
<br />-- & Repair; Maintenance and [Ise, ' To promptly. eepair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to'keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />otherliens notexpressiy subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimin-
<br />ish or i_mpaix ire-value-af:tlre Pm~rty :p ang act ox emission- to aci; and to comply with a!t requirements of law with
<br />respect to the Property.-
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