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<br />MORTGAGE '~ ~ -(~ (~ Q s 3
<br />This Mortgage is enteredintabetween P;onepr Tnpecrmenr¢ a ParrnorahiA ,t/h/~ _
<br />~~er gg..LratE,~_~ ~-- _ (herein "Mortgagor") and 1
<br />Five Points B~x~c _~(herein "Mortgagee").
<br />Mort,~gor is indebted to Mortgagee in the principal sum of $ .145,.pgq,gg-. ,evidenced by Mortgagor's note
<br />dated . ?t4 1 t lRt7 !Rt (herein "Note") providing fox payments of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on Ar~g- 1 1 - 19f3~-•
<br />r,_.
<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 Ehe security of this ivlortgage, 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 located in _- ual~-- -- County, Nebraska:
<br />A tract of land comprising all of Lot One (1), part of Lot Two (2) and
<br />Lot Three (3), Garrett's Subdivision in the City of Grand Island,
<br />Nebraska, containing approximately I6.b11 acres,, mare further described
<br />in the Addendum of the report.
<br />Together with ail buildings, improvements, fixtures, streets, aI!eys, passageways, easements, rights, privileges and-~
<br />appurtenances {orated thereon or in anywise'pertaining [hereto, and the rent, ismes and profits, revensions and remaiaden
<br />thereof; including, but not timited to, heating and cooling equipment and such personal property that is aktaebed to the
<br />improvements so as to rnnstitute a fixture; ail of which, including replt,cemrnts and additions thereto, is hereby-declared.
<br />to be a part of the rest estate secured by the lien of this Mortgage and all of the foregoing being referred to 6e[eia as-the
<br />,.pro~rty~+.
<br />Mortgagor further convenants 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. TEtle. Mortgagor is the owner of the Property, has the nght and authority to mortgage the Property, aqd
<br />wamnts that the lien created hereby is a firse and prior lien on the Property, except as rosy otherwise be set forth herein:
<br />® The Property is subject to a Mor.gage wherein _ _tlotae .I=Qde~a~_Qao it~sa ~-I,oa~-
<br />ts the Mortgagee, recorded at Book __._--_ ,Page - __ . - of the Mortgage Records ot._-. Hat 1 Oounty,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />~) t?ther prier liens or encumbrances: _ . ~TYti P_a3nt:3_B.ank__
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and ail 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 [axes, assessments or other charges as they become due.
<br />4. insurance. 'Co keep the improvements now ar 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 />Mort gee, and with loss payable to the Mortgagee. In case o[ lass under such policies the Mortgagee is ~uthorized.to
<br />adjust, collect and compromise, in its discretion, al! claims thereunder at its sole option, authorized to eitherappiythe
<br />proceeds to the restoration of the Property or upon Ehe indebtedness secured hereby, but payments hereunder shalt con-
<br />tinue antis the sums secured hereby are paid in full.
<br />5. L~ Escrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor sha}1 pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly saxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, all as reasonably est[mated from time to time by the Mortgagee. 't'he amounts so paid shall be
<br />held- by the Mortgagee witlu;at interest. and applied to the payment of the items in respect to which such amounts were
<br />deposited, The sums paid to Mortgagee hereunder am pledged as additional security Cor the indebtedness secured by this
<br />Mortgage. Mortpgorshal! pay Eo Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />pretnrums and ground rents and the deposits hereunder within lU days after demand is made upon Mortgagor requesting
<br />paymettt thereof.
<br />6. Repair, Maintenance and Uae. To promptly repair, restore or rebuild any buddings. or improvemenU now or
<br />hereafter on the Property; to keep the Property in ggtxl rendition and repair, without waste, and Cree from mechanic's or
<br />other Eiens not ezpsessly subordinated to the hen hereof; not to make, suffer or permit any nuisance to exist, nor to dimin
<br />istt or impair the value of the Property by any art or omission so act; and is comply with alt requirements of !aw with
<br />resp+•c•t W Lhr Property.
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