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g~_004969
<br />MORTG.ArGOE
<br />/M.
<br />This Mortgage made this ~f.~ _ day of September, 1980, between
<br />OSWALD BERRIOS and JOANNE E. BERRIOS, husband and wife, hereinafter referred
<br />to as MORTGAGORS, and ELDORA L. SPECK, MORTGAGEE.
<br />IN CONSIDERATION of NINETY THOUSAND AND NO/100 DOLLARS ($90,000.60)
<br />advanced by MORTGAGEE to MORTGAGORS, who acknowledge receipt of such sum
<br />which is evidenced by a promissory note of even date (hereinafter referred tc
<br />as "the Note") which this mortgage secures the MORTGAGORS jointly and
<br />seve ra Lly, hereby mortgage to the MORTGAGEE the following described real
<br />property situated in the County of Hall, State of Nebraska, and described as
<br />follows:
<br />Lot Two (2), in Block One~(1), in Jenkinson Subdivision
<br />in Ha11 County, Nebraska, in the South Half of the East
<br />Half of the Southeast Quarter (S'~E'~SEz) of Section
<br />Two (2), in Township Eleven (11) North, Range Ten (10),
<br />West of [he 6th P.M., in Hall County, Nebraska,
<br />tggether with all rents, easements, appurtenances, he reditaments, interests
<br />in adjoining roads, streets and alleys, improvements and buildings of any
<br />ki'~.nd situated thereon and alt personal property that may integrally belong to
<br />or hereafter become an integral part of such buildings and improvements, all
<br />crops raised ther~.on and all water rights benefiting or appurtenant to such
<br />real property (collectively re Ferred to as "the Property").
<br />MORTGAGORS covenant with MORTGAGEE and her successors in interest
<br />that (i) MORTGAGORS hold title to the Property in fee simple and have Lawful
<br />authority to mortgage the same, (ii) the Property is free of liens and encum-
<br />brances except for the prior mortgage held by Equitable Building & Loan Asso-
<br />ciation of Grand Island, Nebraska, and (iii) MORTGAGORS will defend the Prop-
<br />erty against the lawful claims of any person or entity.
<br />1. PAYMENTS. MORTGAGORS shall promptly make all payments required
<br />under [he Note and any other instrument securing Chis Note.
<br />2. TAXES. MORTGAGORS shall pay each installment aE aL1 taxes and
<br />soecial assessments of every kind, now or hereafter ievied and assessed
<br />against the Property or any part thereof, before same becomes delinquent,
<br />without notice or demand, and shall provide MORTGAGE F. with evidence of the
<br />payment of same. MORTGAGORS shall pay ail taxes and assessments which may 6e
<br />levied upon MORTGAGEE'S interest herein or upon [he Mortgage or the debt
<br />secured hereby wf[hout regard to any law that may be enacted imposing payment
<br />of the whole or any part thereof upon the MORTGAGEE.
<br />3. INSURANCE AND REPAIRS. MORTGAGORS shall maintain Eire and
<br />extended coverage insurance insuring the improvements and buildings con-
<br />stituting part of [he Property for an amount equal to the actual cash value
<br />of such improvements, exclusive of foundations, bat in no event for an amount
<br />less than [he amount of the unpaid principal b:alana* of the Note. Such insur-
<br />ance policies shall contain a standard mortgage clause in Yavor of MORTGAGEE
<br />and shall not 6e cancellable, terminable or rnodil fable without ten (10) day
<br />written notice to MORTGAGEE. MORTGAGORS shat! promptiv repair, maintain and
<br />replace the Property or any part thereof so chat, iaxcrpt fnr ordinary we+rr
<br />and tear, the Property shall not deco riorntr. Li no av,~nt shall the
<br />MORTGAGORS commit waste on or to the Propetty.
<br />4, OPTIONAL ADVANCES. 1P the insurance required above fs not
<br />promptly effected, or if the taxes or special assessments levied and assessed
<br />against the Property shall become delinquent, MORTGAGEE (wh.=t her electing, to
<br />declare the whole mortgage due and coltecti6le or nof.), may, but need not,
<br />effect such insurance, effect such repairs, pay such taxes and special ass~'ss-
<br />ments, and all such payments with interest thereon ak the highest legal rate
<br />applicable to a natural person, from time of payment shall be a lien ^f;ainst
<br />Che Property.
<br />5. ACCELERATION AND RECEIVERSHIP. Lf default shall be made in the
<br />payment of the Note, or any par[ of the interest thereon, or env other
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