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<br />i70RTGAGE
<br />Timothy A. Kolar and Vi.etoria L. Kolar,
<br />This Mortgage is entenrd into hetween __--_^.---_.__.__,____~-----~__-.
<br />-----_$uS~3At~ and Wife..-___-_-------._.._-----------T_~_~_ (herein "Mortgagor") and
<br />Tha Overland National Hank of Grand Island, Grand Island, NI' _(hetin "Mortgagee„).
<br />iviorigagor is indebted to Mortgagee in rite principal sum of ~ ,,^s:t, (3t3t7. r^>c ,evidenced by Mortgagor's note
<br />zpril 22, 1981
<br />dated _ ` ,_ ..._.__.-_ _ (herein "Note") providing for payments of principal and interest, Willa the balance of the
<br />indebtedness, if not sooner paid, due and payable on._-__~t. 17, 1981 •
<br />To secure the paymen! of the Note, wikh interest as prodded therein, the payment of a!i outer sums, with inter2at,
<br />advanced by Mortgagee to protect the security of this Mortgage, and the per[ormanm of the covenants and agreeuseata of
<br />Ute Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property fucated in -__~1~___-__-__ County, Nebraska:
<br />A tract of land in Geer Subdivision in the cite of Grand Island, Halt County,
<br />Nebraska dexcribed as follows: Beginning at the Southwest (SW) corner of i«ot
<br />Twenty Seven (27), thence running Northerly along and upon the West line of
<br />sriid ?nt far a distance of Twenty-five (25) feet to the actual paint of
<br />beginning, thence continuing Northerly for a distance of fRie Hundred Eighteen
<br />and six tenths feet {11$.6') to the southerly bouutdary line of 20th Street
<br />running thence easterly along and upon the southerly boundary line of 20th
<br />Street for a distance of Sixty-six feet (66') thence rtuining southerly
<br />along; and upon the east line of Lnt Ttv~enty Seven (2?) for a distance of
<br />Orte Hundred Eighteen and four tenths feet (118.4') thence Westerly for a
<br />distance of Sixty-six feet (66°} to the place of beginning.
<br />'t'ogether with ail buildings, :mpravements, f:xturrs, streets, alVe}'s, patsageways, easements, rights, privileges and
<br />appurtenances located thereon or m aayw:se pertaining thPreu+, and the rents iswea and profits, reversions and remainders
<br />thereof;including, but not limited to, beefing and ctxtling eyuapment and such personal properly that is attached to the
<br />improvemrrris s- - ,- ..,,,..,.,,..,, a f:xtun•: a!I of ,vhich. anciudmg replacements and additions thereto, is hereby declared
<br />to tx~ a part of lire eeai estate ueured by the lien of thi- ylurtgage and ati of th«• foregoing bring referred to herein ~ the
<br />"Prutx•rty".
<br />Mortgagor further cunvenan LS and agrees, with `wiortgagee, a, fuilows~
<br />2. Payment. 'fo pay the indebtedness and the inten•st thereuu as protideci in this Mortgage and the Note.
<br />2. Titre. Murtgagr;r is the owner of the Pruprrt}, teas the right and authority to mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior Iren un the Prupertt-, except a. may otherwise be set forth herein,
<br />,u The Property is sub~i to a !tiurlpage wherein _ _ -. _ _ - _____
<br />h the Mortgagee, recorded aE ikxrk -.-_-_ _ ,Page .. ut ihr viorzgage ri«-rnru's of ---_ County,
<br />Nebraska, which Mortgage is a lien prior to the hen rrea[ed hcrehs-
<br />~~ Other prior hens ar encumbrances- _ . i?k)3tE _ __ _ _
<br />3. Taxes, Asaessntents. 3'u pay when due ail taxes, ;pedal a,src.+ment~ and rill other charges against the Property
<br />and, upon write>n demand by Mortgagee, to add to the payments reywred under the Note secured hereby, such amount as
<br />tn~y ~• suffeient to enxbtr Ghr '[forigager to pay >urit taxes, arse--.;ment.s or other charges as they become due.
<br />~. Inarrranre. To keep the improvements now or hereafter located un the real estate described herein insured
<br />against damage by fire and sucn other hazards as Mortgagee may require, in amounts and wish companies aa~eptaWe to the
<br />?Mortgagee, and with tow pavat!Ir to the Alorigagee. In rase- of I<xh under wch policies the MoRgagee is authorized to
<br />ad}ust, etrttect and eompmmise, ire its d~screuon, air claims thereunder at its sole option, authorized tgeitherapply Lhe
<br />prcneedc io the restoration of the Prop+vty or upon the indebtedness secured hr•rehy, but payments hereunder shall con-
<br />rintre unlit the sums secumd hereby are paid ut full.
<br />5- ~; Escrow Far Taxes and tnsueance. Notwithstanding anything contained in paragraphs 3 and ~ heroof to the
<br />contrary, 3fostgagter shalt pay to the Mortgagee at the time of paying the monthly mstailments of principal and interest,
<br />woe-trvetttit of the yearly taxes, assessments, hazard msuranre premiums, and ground rents of any} which may attain a
<br />priority ewer this Mortgage, a{t as reasonably estimated from time to time by the Mortgagee. The amounts sa paid shall be
<br />#~~ld by fife ~?ortgagee without interest and applied to [he payment ut the items in respect to which such amounts were
<br />depraswtad, The sums paid to Mortgagee hereunder ace plcdged as additional security for the indebtedness secured by this
<br />~_ Mrrrigpgorsttdi pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />p~~titttra aria' ground rents and the depinits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />pavrrtent !hereof.
<br />k. 3tepatr, fNaintwraaee and isse. Tn pramptlr repair, n•store or rebuild any buildings or improvements new or
<br />itrrraf@x~r on rite Property: to knp tlir Properis- in q+•.uid «~rnditiar and rapair.:vititout waste, and fern fr€i[n meehanis•'s nr
<br />otttt>CtM net vxptns;<ty sutxmiinatrd to the lien hereof; not to make, suffNr ar permit azty nurseries to exist, nor to dimin-
<br />tuh rx impair rite value of rho l3r,party by any atti ur urnc~.sion r.r art; atad to caomply with all requirements of taw with
<br />rr~#prsel tks the i'rt}perFY.
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