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<br /> �. MORTC�AGE <>> a
<br /> �
<br /> �s Mort�e is entered into between Crai g J. V i pond and Roxanne M. V i pond,
<br /> Husband and Wife
<br /> (herein"Mortgagor'�and--
<br /> F i v a P n i n t� R a n k (heroin"Mortgagee'7. ��
<br /> Mortgagor is indebted to Mortgagee in the principal sum of S 10,O10.50 , evidenoed by Mortgagor's note ��1
<br /> dated 3/30/98 (herein"Note'�providing for paymente oi prinoipal aad interest.with the balanoe oi the
<br /> indebtedness,if not sooner paid,due and payable on 3/2 9/9 9
<br /> To aecure the payment of the Note,with interest as provided therein, the payment of all other sums,with inter
<br /> est, advanced by Mortgagee to protect the security oi this Mortgage, and the performance of the covenants and agree-
<br /> ments of the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the foilowing
<br /> described
<br /> properiy located in H a 11 County,Nebraska.
<br /> Lot 38, Western Heights Third Subdivision to the City of Grand Island,
<br /> Hall County, PJebraska.
<br /> Together with all buildings, improvements fiztures, streets, alleys, passageways, easements, rights, privileges
<br /> and appurtenances located thereon or in anywise pertaining thereto, and the rents, isaues and profits, reversions and
<br /> remainders thereof; including, but not limited to, heating and cooling equipment and such personal property that ia
<br /> attached to the improvements so as to constitute a figture; a11 of which,inoluding replacements and additions thereto, is
<br /> hereby declared to be a part of the real estate secured by the lien of this Mortgage and all of the foregoing being referred
<br /> to herein as the"Property".
<br /> Mortgagor further covenants and agrees,with Mortgagee,as follows:
<br /> i. Paymeat.To pay the indebtedness and the interest thereon as provided in this Mortgage and the Note.
<br /> 2. Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and war-
<br /> rants that the lien created herby is a first and prior lien on the property,eaoept as may otherwise be set forth herein.
<br /> �7 The Property is subject to a Mortgage wherein_ E o�i ta b 1 P B u i 1 r1 i n 9 a n c1 I n a n is
<br /> the Mortgagee,recorded at Book ,Page of the Mortgage Rscords of Ha 1 1
<br /> County,Nebraska,which Mortgage is a lien prior to the lien created hereby.
<br /> ❑ Other prior liena or encumbrances:
<br /> 3 Tazes, Assessmeats. To pay when due all tazes, special assesaments 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,such
<br /> amount as may be sufficient to enable the Mortgagee to pay such tages, assesaments or other oharges as they beoome
<br /> due.
<br /> 4• Insuraace. To keep the improvements now or 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
<br /> the Mortgagee, and with loss payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized �, �
<br /> to ac�ust,collect and compromise,in its discretion,all claims thereunder at its sole option,authorized to either apply the � .y,
<br /> proceeds to the restoration of the Property or upon the indebtedness secured hereby,but payments hereunder shall oon- ;:
<br /> tinue until the sums secured hereby are are paid in fu11,
<br /> �►�
<br /> S. ❑ Escrow For Tazes and Insurance. Notwithstanding anything contained in para,gra,phs 3 and 4 hereof to }"'�
<br /> the contrary,Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of prinoipal and iater
<br /> est,one-twelfth of the yearly ta$es.assessments.hazard insnrance premiums,and ground rents(if any)whioh ma�y attain
<br /> a priority over this Mortga�ge,all as reasonably estimated from tfine to time by the Mortgagee.The amounts so paid shall
<br /> be held by the Mortgagee without interest and applied to the payment of the items in respeot to which such amounts
<br /> were depoaited.The aums paid to Mortgagee hereunder are pledged as additional securlty for the indebtedness seoured
<br />
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