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AiORTG~AGE $ ~ ....(~ ti b ~ ~ F3
<br />I
<br />This Mortgage is entemd into between David •I. Stoddard and Kathy Stoddard,
<br />Husbatld and Wife
<br />- - - - - therein "Mortgagor") and
<br />
<br />1'HE WERI~PID NATI(kTAT. BANK GIF f:RAh13 ISLA'+ID, ~'+ID IS~'"in, 11'E~{
<br />(herein '"Mortgagee»•)~
<br />Mortgagor is indebted to Mortgagee in the principal sum of 5 10 +~• ~ _ ,evidenced by Mortgagor's note.
<br />dated ~• 14, 1981 (herein "Note") providing far payments of principa! and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on~:~ ~ 18 , 1984
<br />Tosecure 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 agreements of
<br />the Mortk.,gor contained herein, Mortgagor does hereby mortgage and convey to :Mortgagee the following described
<br />property located in Ha11 Count}•, Nebraska:
<br />Lot Two (2) in Block Five (5), in "Kay-Bee Subdivision", located on part
<br />of the Southwest Quarter of the Southwest Quarter (SW~SW~) of Section
<br />Twer.ty-0rfe (21), in Township Eleven (11) North, Range Nine (9) West
<br />of the 6th P.M., in Hall County, Nebraska
<br />,Together with alt buildings, improvements, fixtures, streets, alleys, passageways, easements, rii*hts, privileges and
<br />appurtznances located Chereon or m anywise pertaining thereto, and the rents issues and profits. reversions and, remainders
<br />thereof; including, but not limited ta, heating and cooling equipment and such persona! property that is attached to the
<br />improvements so as to constitute a fixture; all of which, including replacements 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 convenants and agrees, with Mbrtgagee, as follows
<br />2. Payment- To pay the indebtedness and the interest thereon as provided in ibis Mortgage and the Note-
<br />2. Title- Mortgagor is the owner of the Properly, ha, the right and authority to mortgage the Property, and
<br />wamdttfs that the lien created hereby is a first and prior lien on the Roperq, except as may otherwise be set forth herein.
<br />pe } i g g First Federa3._Sa~in_gs _& Lean ~.ssoc. of ,'ncoln
<br />C~ The Pro rt • is sub'ect to a Mart a e wherein
<br />is the Mott recorded at No, 78-002523
<br />gages, ,fie .____.___,. _ of the Mortgage Records aC ___ Hall __ County,
<br />N¢btaska, which Mortgage is a lien prior to the lien-en'ated hereby.
<br />C Other prior liens. or encumbrances: .._..___ . __ __,,__-- -._..,__ _.
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and all other charges against the Property
<br />and, upon written demand by Mortgagee, to add to the payments requimd 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. Insurance. Ta keep the improvements now or hereafter located on the real estate described herein insured
<br />against damage by fire and such other hazards as Mortgage•c~ may require, in amounts and with cam ponies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. [n case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, alt. claims thereunder a[ its cote option, authorized to eitherapply.the
<br />proceeds to the restoration of the Property. or upon the indebtedness secured hereby, buE payments hereunder shall con-
<br />tinue until the auras secured hereby are paid in Cult.
<br />5. L7 Escrow Poe loxes and Insurance, Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />- contrary,.Mortgagor shall pay to the Mortgageeat the time of paving the monthly insta)Iments~of principal and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rKgts (if ,any) which may attain,a
<br />priority over this Mortgage, all as reasonably estimated from time to time by the Mortgagee.'Che amounts so paid shalt hie
<br />held by llte Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />deposited, The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by this
<br />Mortgage. blartgagorshaR pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />premiums and ground rents and the deposits hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereat,
<br />&. Repair, i4taiatenance 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 />other8ens net expressly subordinated to the lien hereof: not to make, suffer or permit any nuisance to exist, nor fo dimin-
<br />ish or impair the value of the Property by any act or omission to act and to comply with all requirements of law with
<br />respect to the F'raperfy.
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