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<br />79- ~ zi'~~~~~~~~~ ~aRT~A~'~
<br />This Mortgage is entered into between GERALD W: JONES and Sv4RON R. JUNES, Husband and
<br />Wi fie, as Joint Tenants and not as Tenants i n C~tlon (herein "Mortgagor"} ana
<br />THE OVERLAND NATIONAL BANK-OF GRAND ISLAPdD, Grand Island, Nebraska (herein ``Mortgag'e"}.
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 24.000.00 ,evidenced by Mortgagor's note
<br />dated November $, 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_ NOVember 8. 1980 ,
<br />To secure the payment of the Note, with interest as provided therein, the paymenk of all other sums, with interest,
<br />advanced 6y Mortgagee to proiect the security of this Mortgage, and the performance of the covenants and agreements of
<br />-tbe Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />. '~.: Property ]orated in Hall County, Nebraska:
<br />North Fifty-five feet (N 55') of Block Four (Q) in Koehler Subdivision, located on
<br />Part of the Southeast Quarter of the Southwest Ouarter (SE;SW;) of Section
<br />fifteen (15), Township Eleven (11} North, Range Nine (9) West of the 6th P.M.,
<br />and an part of Lot Fourteen (14) of the County Subdivision of the West Half of the
<br />Southwest Quarter (W~SW4) of Section Fifteen (15), Township Eleven (11} North,
<br />Range Nine (9) West of the 6th P.M., Hall County, Nebraska
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appcrtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversiops and retnainden;
<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; all of which, including replacements and additions thereto, is hereby dedared
<br />to be a part of the real estate secured by the lien of this Mortgage and ail of the foregoing being referred to herein as the.
<br />..property "•
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />i. 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, 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 6e set forth herein.
<br />'lire i'rrrperty is subject #o a Mortgage wherein
<br />_ _ is the !~o*tgagee, reseeded at n ,Page of the Mortgage Records of f~ottnty; x
<br />Tigbraalca, which Mortgage is a lien prior to the lien creaked hereby. ----_ -_
<br />D Other prior Liens or encumbrances: .___.~ ._ __ _ __ __ _
<br />3. Taxes, Assessments. 'I`o pay whin due ail taxes, special assessments and all other charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments rnquired under the Nate 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. Insurbrtce. 'Tc keep the improvements now or hereafter located on the rest estate described herein insured
<br />against damage by Cire and such other hazards as Mortgagee may require, in amounts and with companiesam ptabte to the
<br />Mortgagee, and with ions payable to the Mortgagee, In case of loss under such po-icies the Mortgagee is authorized to
<br />- adjust, collect artd compromise, in its discretion, i,ll claims thereunder at its sole option, authorized toeitherapply the
<br />prooeeda to the restoration at the Property or upon the indebtedness secured hereby, but payments hereunder shall can-
<br />lin~~ until the sums secured hereby are paid in full.
<br />- - 5. C7 brow For Taxes and Insurance. Notwithstanding anything contained in pai~raphs 3 and ~'. hereof to the-
<br />' contrary, Mortgagor shall pay to the Mortgagee at the Elme oY paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, °°~°°-ents, hazard irsurance premiums, and ground rents. (it any) which may attain a
<br />..'priority over this Mortgage,-all ~ reasonaMy estimated-from time to time by the Mortgagee. The amounts so paid shall 6e
<br />held by the Mortgagee vrathout interest and applied to the payment of the items in respect to which such amounts were
<br />' deposited; -The slims paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. Mortgagorshall pay to Mortgagee the amount at any deP9cieacy between the actual taxes, assessments, insurance
<br />prEmiums and ground rents end the deposits hereunder wttirin YO days after demand is made upon Mortgagor requesting
<br />` payment thereof.
<br />6, Repair, hfaintenance and Use. Tr, promptly repair, restore or rebuild any buildings or improvements now or
<br />,hereafter do the Property; to keep the Property_in good canditicn and repair, without waste, and free iYom mechanic's or
<br />ether Liens not expressly subordinated to the lien hereof, not to mane, suffer or permit any nuisance io exist, nor to dimin-
<br />ish or impair the value of the Property by any act or omission to act; and to comply with ail requirements of law with
<br />respect to the Property,
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