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MORTGAGE
<br />86-1049517
<br />This Mortgage is entered into between Leo M. Adams and Shirley ti. Adams, Husbl
<br />and Wife (herein -- a tgagoel am
<br />Five Points Bank, Grand Island, Nebraska - (henein"140A gee ";,
<br />Mortgagor is indebted to Mortgagee in the principal sum of 'd 126 1315 Oq evidenced by Mortgagor's note
<br />ed August 27, 198�.rein "Note ") pravbding for payment of principal and interesk with the balance+rfff th
<br />ebtedness, if not sooner paid, due and payable on '•September 1, '199fj
<br />To seem the payment of the Note, with interest as provided therein, the payment, of all other sums, whh interest
<br />anted by Mortgagee to protest the: seeurity of this Mortgage. and ;the performance of the covenants and ageements of
<br />Mortgagor 'contained herein, Moor does hereby, mtntga:V and convey to Mortgagee the following describ
<br />Cpl rty located in Hall County, Nebraska:
<br />Lots Five (5) and Six (6). in Block'Two (2), In Packer
<br />and Barr's Addition to the City of Grand Island, Sall
<br />County, Nebraska
<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 Mattgage and the dote.
<br />Z. Title. Mortgagor is the owner of the Property; has the right and authority to mor4W the Propieatyy, aad
<br />warrants that the lien cleated hereby is a first and prior lien on the Properly, except as may otherwise beset forth herein
<br />D Ttte Property is subject to a Mortgage wherein
<br />)a the Mortgagee, recorded at Book _ __.._ _ Page _ of the Mortgage Records of County..
<br />Nebraska. which Mortgage is a lien prior to the lien created hereby .
<br />n tither prior liens or encumbrances: __ -- _ --_- -- -- --
<br />3. Taxes, Assessineuts. To pay when due all taxes. special assessment4 and all 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 />tray be sufficient to enable the Mortgagee to pay such taxes. assessments or other charges as they become due_
<br />t Insurance. To keep the improvements now or hereafter located on the real estate described berem insured
<br />against damage by fire and such other "zards as ?Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee. In case of loss under such ptAicies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, all claims thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall eou-
<br />Untie until the sutras secured hereby are paid in full. -
<br />- 5. C, FAcrow For Taxes and Insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest.
<br />orre-twelftlt of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if -Y) which way attain a
<br />priority over this Mortgage. all as reasonably estdttatted from time to tune by the Mortgagee. Ttte amounts so paid shill be
<br />recd by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />;deposited. The sutras paid to Mortgagee hereunder we pledged as additional security for the indebtedness secured by this
<br />{ Mortgag. Mortgagor "I pay to Mortgagee: the amount of any deficiency between the actual taxes. assessments, insurance
<br />premiums and ground rents and the deposits hereunder w-fthin 10 days after demand is made u pr rtgago r :eyuesting
<br />payment thereof_
<br />ti. Repair. Maiotimaner and liar. To promptly repair, restore or rebuild any buildings or impro"nierfts now at
<br />bsreaftarr on the Property; to keep the Property in good condition and repair. without waste, and free from mrebanie's or
<br />olhet bens not expressly subordinated ter the lien hereof: not to mike, suffer or permit any nub umer to emst, not to dimity
<br />rah or impair the value of the Property by any act Or runiwoir to amt, and its r.,ngpiy with all rv,luirvmeots of law with
<br />- - - - r -foot to, the Protwttk -
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