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<br /> �' MORTG1rAC�irE '� '
<br /> �
<br /> Thia Mortgage is entered into between
<br /> husband and wife �nerein°Hto
<br /> �8�60�7�d G
<br /> Five Points Bank , a Nebraska Cor�oration �nerein°Mo�agee�.
<br /> �
<br /> Mortgagor ia indebted to Mortgagee in the prinoipal sum oi E_4.486.50 ,evidenaed bq Mortgagor'e note �!_
<br /> dated M arc h 2�, 19 98 (herein"Note'�providing for peymenta oi prinoipal aad interest,with the balanoe oi the i_
<br /> indebtedness.ii not sooner patd.due and payable on A D 1"Il 1. 2003 :
<br /> To seoure the payment o!the Note,with interest as provided therein, the payment of a11 other sums,with inter
<br /> est, advanaed by Mortgagee to proteot the seourity oi this Mortgage, and the pertormanae o!the oovenants and agree- :
<br /> ments oi the Mortgagor oonLaiued herein, Mortgagor does hereby mortgage and oonvey to Mortgagee the iollowing ,
<br /> deaoribed
<br /> propertq looated in N all County.Nebraeka.
<br /> Lot Eight (8), Sunset Subdivision, City of Grand Island, Hall County, Nebraska.
<br /> Together a►ith all buildings, improvements iistures, streets, alleys, passageways, easements, rights, privileges
<br /> and appurtenanoes loaated thereon or in anywise pertaining thereto, and the rente, ieaues and proSts. reversions snd
<br /> remaindera thereoi; iaoluding, but not limited to, heating and 000ling equipment and suoh personal property that is
<br /> $tta,ohed to the improvements so as to oonstitute a fiature;all oi whioh,inaluding replaaements and additions thereto,is
<br /> hereby dealared to be a part oi the real estate seoured by the liea oi this Mortgage and all oi the ioregoing being referred
<br /> to herein as the"Property".
<br /> Mortgagor further oovenants and agreea,with Mortgagee.as follows:
<br /> i. Paymea�To pay the indebtedness and the interest thereon as provided in thia Mortgage and the Note.
<br /> 2. Title.Mortgagor is the owner oi the Properiy, has the right and authorlty to mortgage the Property, and war
<br /> rants that the lien oreated herby ie a iirst and prior lien on the property.ezaept ae may otherwise be eet forth herein.
<br /> [Z The Property is subjeot to a Mortgage wherein ��F �r,;t�l M ortg a g Q is
<br /> the Mortgagee,reoorded at Book ,Page of We Mortgage Rsoorda oi
<br /> County,Nebraska,whioh Mortgage is a lien prior to the lien areated hereby.
<br /> O Other prior liena or enoumbranoes:
<br /> 8 Tazes, Aasesemeats. To pay when due all tazes, speoial asseesmeata and all other oharges against the
<br /> Property and,upon written demand by Mortgagee,to add to the payments required under the Note seoured hereby,suoh
<br /> amount as maq be auSiaient to enable the Mortgagee to pay suoh tages, assessments or other ohasges ae th�eyy beoome
<br /> due.
<br /> 4. Insurance. To keep Lhe improvements now or hereafter located on the real estate described herein insured
<br /> a8e�inst damage by fire and suoh other hazards as Mortgagee may require,in amounts and wtth companies aooeptable to
<br /> the Mortgagee,and with loss payable to the Mortgagee. In oaee oi loss uader suah poliaiea the Mortgagee is authorized
<br /> to aci�ust.oolleot and compromise,in its disoretion,all olaims thereunder at its sole option,authortzed to either applq the -. ,
<br /> proaeeds to the restoratloa oi the Property or upon the indebtedness seaured hereby.but payments hereunder shall oon �, `
<br /> tlnue until the sume seoured here �
<br /> by are are paid in tull. ,
<br /> ,.�
<br />' .M '
<br /> 5. ❑ Esarow For T�es and Insuraace. NotwiLhstanding anything contained in ParagraPhs 3 and 4 hereoi to ���
<br /> the oontrary.Mortgagor sha11 pay to the Mortgagee at the time of pqying tha month�q inetsllments of prinoipal and inter �
<br /> est.one-Lwelith of the yeazly taaes.asseasments,hazard insura,noe premiums,and grouad rente(ii anq)whiah a�ay attain
<br /> a prlority over this Mortgsge,all as rea,eonably eatimated irom time to time by the Mortgagee.The amounts ao paid ahall .
<br /> be held by the Mortgagee without interest and applied to the payment o!the iteme in respeot to whioh auoh amounts '
<br /> were deposiLed.The sums paid to Mortgagee hereunder are pledged as additional seourity!or the indebtedness aeoured
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