|
SE4~f3D MOEiT~AGF.
<br />This Mortgage is entered into between C~~' A. FI`IY,TI• A~'""1TY51e Man
<br />- (herein "Mortgagor") and
<br />THE OtTERI,AND NATI~IAL l3AN[C OF GI2APID ISLAND, c~and Island, Nebraska (herein "Mortgagee").
<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 25, 500.00 evidenced by Mortgagor's note
<br />dated Septettlber 4, 1679 (herein "Note") providing for payments of principa[ and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on March 3, 1980
<br />To secure 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 Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />property located in Hall _ County, Nebraska:
<br />A certain parcel of real estate lccated in the Southwest quarter of the Southwest
<br />Qtaarter (SV~SG~o) of Section Twenty-One (21) in Township Eleven (11) North, Range
<br />Nine (9) West of the Sixth P.M., more particularly des~ibed as follaase catterencixtg
<br />at a point 163.3 feet west of the southeast corner of the Southwest Quarter of the
<br />Southwest Qtrzrter (S6,g;SW'~) of said Section Tt~renty-One (21), run*iing thence rtorth
<br />and in a line parallel with the east boundary line of said Souttn+~est ¢aarter of the
<br />Southwest Quarter (SFiiySL~}, a distance of 240.7 feet; thence at right angles and in
<br />a westerly direction 120 feet; thence at right angles and in a southerly direction
<br />240.7 feet; thence at right angles and iii an easterly direction 120 feet; to the
<br />place of beginning, subject, however, to the highway right-of-way war the southerly
<br />-, 33 feet thereof, Hall County, Nebraska
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges sari
<br />' ' appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remadnders
<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; alt 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 />"Property°.
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
<br />- 1. Payment. To pay the indebtedness and the interest thereon as provided is 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
<br />warrants that the Tien created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein:
<br />^ The Property is sub~rct to a Mortgage wherein
<br />__ ~ the Mortgagee, recorded ar Reok , Pao°e... of ~e Morn Records of County: -
<br />Nebraska, which Mortgage is a lien prior to the lien created hereby.
<br />!N (hher prior liens or encumbrances:
<br />3. Taxes, Assessments. Ta pay when due ail taxes, special sax ssmenis 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 Go pay such taxes, assessments or other charges as they become due.
<br />4. Insurance. Tn keep the improvements now or hereafter located on the real estate described herein Insured
<br />against damage by Lire and such other hazards as Mortgagee may require, in amounts and with companies acceptable tothe.
<br />Mortgagee, and with lens payable to the Mortgagee. In case of lass under such policies the Mortgagee is authorized to
<br />adios[, collect and compromise, in its dkcretian, alt daims 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 com
<br />linos emtil the sums secured hereby are paidsn full.
<br />5, d Escrow For Taxes and lavuran€c. Notwithstanding anything contained in paragraphs 3 and ~I hereof to the -
<br />cpntrary, 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, hazazd Ensurance premiums, and ground rents (if soy) which may attain a
<br />priority over this i4lgrtgage, all as reasonably estimated from time to time by the Mortgagee. The amounts so paid shat! be
<br />-:held by the Mortgagee without Interest and applied to the payment of the items in respect to which such amounts were
<br />degoaited. The sums paid to Mortgagee- hereunder are pledged es additional security for the indebtedness secured by this
<br />`.Mortgage. Mortgagor shad pay to MortgagE~ the amount of-any defidency between the actual taxes, assessments, insurance
<br />premiums and. ground rents and the deposits hereunder wtthln 1Q days after demand is made upon Mortgagor requesting
<br />payment thereof
<br />6. Repair, Maintenance 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 />other liana not exptaxviy subordinated +o titre lien hereof; not to make, sLPfer er permit any nuisance to exist, nor to dimin-
<br />ish or impair the value of the Property by ally net ar onvsstan to act; and to comply with ail requirements of law with
<br />respect t~ ±fre property,
<br />
|