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/'a _.,. ~ ~~t ,i°::} ~~' ~ ~? SECO"~lU AAaDIi.TIG~+GE
<br />This Mortgage is entered into between HAT •f . ~~~ Iid6'fIIxi C>~JC:i~
<br />(herein "Mortgagor"} and
<br />TAF: O T,A1v'Tj AT O 'AT BANK OF GRAS I~ 4rgp *'and I^ anrl, ~*ebt- S~(herein "Mortgagee„}.
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 3, 0~ • QO ,evidenced by Mortgagor's note
<br />dated May 7 • _1979 (herein "Note"} providing for payments of principaS and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on. Novernber 5 , 1979
<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 agreemeatr of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located in Hall County, Nebraska:
<br />A certain parcel of real estate located in the Southwest Quarter of the
<br />Southwest Quarter (S't9$SW~) of Section ltventy-0ne (21) in 7bwhship Eleven (11)
<br />North, Range Nine (9) Hest of the Sixth P. M., rmre particularly described
<br />as follows: G~mtiencing at a point 763.3 feet west of the southeast
<br />corner of the Southwest Quarter of the Southwest Quarter (SW~SW9) of said
<br />Section Ztventy-One (21), running thence north and in a line parallel
<br />with the east boundary line of said Southwest Quarter of the Southwest
<br />Quarter (SW~SW$•„ a distance of 240.7feet; thence at right angles and in
<br />a wPSterly direction 120 feet; thence at right angles and in a southerly
<br />direction 240.7 feet; thence at right angles and in an easterly direction
<br />120 feet; to the place of beginning, subject, however, to the highway
<br />right-of-way over the southerly 33 feet thereof, Hall aunty, Nebraska.
<br />Together with ail buildings, improvements, fixtures, streets, alleys, passageways, easements, tights, privileges and
<br />appurtenances located thereon or to anywise pertaining thereto, and the rents, issues and profits, reversions and remainders
<br />thereof; including, but not limited ta, heating and cool'eng equipment and such personal property that is attached to the
<br />improvements so as to constitute a fixture; all of which, including replacementr 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 />Mortgagor further convenantr 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. Tide. 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 fotth herein.
<br />^ The Property is subject to a hfartgage wherein -
<br />tr tiro Mortgagee, recorded at Book ,Page o[ the Mortgage Records of County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />^ Other prior liens or encumbrances:
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and alt 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. Inarrance. To keep the improvements now or hereafter located on the real estate described herein insured
<br />agelnst damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with lass payable to the Mortgagee. In case of toss under such policies the Mortgagee is authorized to
<br />adjust, collect end compromise, in its discretion, ail claims [hereunder at is sole option, authorized to eitherappiy the
<br />proceeds to the restoration of the Property or upon the indebtedness securw_' hereby, but payments hereunder shall con-
<br />dnue until the sums secured hereby are paid In full.
<br />6. ^ Escrow For Taxes and Inarrrance. Notwithstanding any thing contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shalt pay to the Mortgagee at the time of paying the monthly instalimentr 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 />priority over this Mortgage, ail as reasonably estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />held by the Mortgagee without interest and applied to the payment of Lhe items in respect to which such amounts were
<br />deposited:.Thesums paid. to Mortgagee hereunder are-pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagor shalt pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premhtms and ground rents-and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />6. Repa¢, 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 condition and repair, without waste, and free from mechanic's or
<br />other Yens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimin-
<br />ish or impair the value of the Property by any act or omission to act; and to comply with all requirementr of taw with
<br />respect to the Property.
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