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<br />86-- 105465
<br />MORTGAGE
<br />Thhi -m6rtg �eisenteredintobetween Wedaewood Tn� a Nebraska Corporation
<br />(herein "Mortgagor") and
<br />FIVE POINTS BANK _(herein "Mortgage " }.
<br />Moetpigor Is Indebted to Mortl{tigee in the principal sum of $ _Q,.000.00 - , evidenced by Morglagoes note
<br />dwded 4 / 16 / 86 (herein "Note") for payments of principal and interest, with the balance of the
<br />in b dtissa, if not sooner paid, due and payable on 10/15/2001
<br />TO secuee the' ayment of the Note, with' interest as provided therein, the payment of all other sums, with interest,
<br />advance l 6rtpt{ee to the security of this Mortgage. and the performance of the covenants and agreements of
<br />the "Moetpgor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following deatxibed
<br />property located in Hall _ County, Nebraska.
<br />Yh(2} Union Square Third Subdivision, in the City of
<br />Lot Grand
<br />Island', Hall County, Nebraska
<br />Together with all buildings, improvement,, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents issues and profits, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements so as to constitute a fixture; all of which, including replacement, 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 />..property"
<br />Mortgagor further convenants and agrees. with Mortgagee, as follows:
<br />1. Payment. To pay the indebtedness and thr interest thereon as provided in this Mortgage and the Note.
<br />2. Title. Mortgagor is the owner of the Property, Iias the right and authority to mortgage the Property, and
<br />warrants that the lien created hereby is a tint and prior lien on the Property, except as may otherwise be set forth herein.
<br />lH The Property is subject to a Mortgage wherein. -_ _ -Five. r'^ i n `"' Rant` --
<br />86- 103449
<br />is the Mortgagee, recorded at$1ASlt_ , Page - �— -- of the Mortgage Records of Hal 1 County,
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />❑ Other prior liens or
<br />3. Taxes, Assessment&. 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 required 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. 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 yortgagee 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 policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, all claims of at its sole option, authorized toeitherapply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall con -
<br />tlnue until the sums secured hereby are paid in full.
<br />5 Q Escrow For Taxes and insurance. Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />eontrairy, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one - twelfth of the yearly taxes, assessments, hanard insurance premiums, and ground rents (if any) which may attain a
<br />priority ors, this Mortgage, all as remonabiy estimated from time to time by the Mortgagee. The amounts so paid &hail be
<br />haM by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />deposited, The weds paid to Mortgagee hereunder are pledged as additional security tot the indebtedness secured by this
<br />Mortgage. Mortgagor "I pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, Insurance
<br />pwiniumis and ground rents and the deposit& hereunder within 10 days after demand is made upon Mortgagor requesting
<br />payment thereof.
<br />6. Repair, Maintenance and lase. 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 />otberllsna not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimm.
<br />M of impair the value of the Property by any act or omission to act, and to comply with ail mquiremvnts of taw witn
<br />respect to the property"
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