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<br /> � INDIVIDUAL '
<br /> DUE ON SALE
<br /> �R� OPTIONAL FUTURG ADYANCES
<br /> SAVINGS FUND
<br /> �- . ��^- `. FORM No.720 � .. � : �� � � .. — (
<br /> t�ry
<br /> _ �
<br /> . , Loan Number__.�3644_____ 188___1 ;
<br /> , � '� . ��TYD< Branch . 1
<br /> 77" '��n�i�s ��. .
<br /> MORTGA GE ��:
<br /> � x ;
<br /> �:
<br /> 'I�I-i1S MORTGAGE,made and executed this
<br /> ' 19_.7.7....,betweett the Mortgagor,:.STEVnN_,A. I,AWRENCE_.ADTD THERESA Mf_LAti��husband nd.' ..
<br /> wife 3ointly and each in,their own ri�ht : _ __ :_-
<br /> -• .
<br /> ' of ....Grand_Island._. ,,.__ �ounty of .Hall` _______ ________ State of. Nebraska_ _ �hereinafter referred :
<br /> to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafte;referred to �
<br /> as Lender.
<br /> ;;.
<br /> WiTxsssEzx That the said Borro�ver for and in consideration of the sum cf T�� FI�
<br /> .�H0ITSAND_SIX.HUNDRED:AND NO/100,. .._....----.--.--:----- --•.----Dol:ars (US $--...._25�600_00 . ...)
<br /> paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br /> ^ foliowing described property located in the County of ....Hall : : :: : _ , State of Nebraska: '
<br /> - �,
<br /> Lot Eight (f3), in Block Thirteen (13} in Gilbert's Addition 1".
<br /> to the City of Grand Island, Hal1 County, Nebraska. ;`s
<br /> �
<br /> � � TOCETHER Wltll all the improvements now or hereafter erected�on the pro�rty, and all easements, '
<br /> rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and `
<br /> water stock, and all fistures now or hereafter attached to the property, all of which; including'renlare- �
<br /> ments and additions thereto, shall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on a Ieasehoid) are herein referred to as the "Property".
<br /> Borrower covenants that Borrower is lawFully seised of the estate hereby conveyed and has the right
<br /> to mortgage, grant and convey the Property, that the Property is unencurnbered, and that Borrower will
<br /> wanant ancT defend generally the title to the Property ag'ainst R�i claims and demands, subject to any
<br /> easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br /> suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> PaoviuEn ALWAYS� and these presents are executed and delivered upon the foliowing conditi�ns,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> '+ The Borrower agrees to pay to the Lender, or order,'the principal sum of .T�N.T.Y.F=VE TH�USA�ID '
<br /> -•-----...---�-•----�------
<br /> i � ._fiIX.HIIND&E12..A�?_IYQl.1.90rr.r..c-r.r._-----.-c----.----.-.----_--...Dollars US$-.._.-----25�600.00--.---•--••
<br /> � )
<br /> payable as provided in a note executed and delivered, concurrently herewith,the final payment of principal,
<br /> � if not sooner paid,on the._..�7��'s�....----....day of- _--._-•July-------- -------------- �200�
<br /> s' UxiFasM CovEx.axTs. Borrower and Lender covenant and agree as follows
<br /> i �� . .. . . �... . . . ... . � � . .
<br /> 1. Payment of Principal�d Interest. Borrower shall promptly pay whan due the principal vf and in-
<br /> ' i terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br /> and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds for Taxes anci Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> mwer shall pay to Lender on the day monthly installments of principal and interest are payable under the
<br /> Note, until the Note is paid in full,a sum (herein"Funde") equal to one-twelfth of the yearly taxes and
<br /> � assessments which may attain priority.�:•er this Mortgage, and ground rents on the Property, if any plus
<br /> = one-twelfth"of yeariy premium instaLments for hazard insurance, plus one-twelfth of yearly premium in-
<br /> � staliments for mortgage insurance,if any, a11 as reasonably estimated initially and from Cime to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lender shail apply the Funds
<br /> to pay said taxes,'assessments,insurance premiums and ground rents. Lender shall make no charne for so
<br /> holc3ing and applying the Funds or verifying and co+�piling said assessmentc and bills. The Lender shall
<br /> give to the Borrower, without charge,an annual accounting of the Funds showing credits and debits to the
<br /> j Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the �
<br /> Lender�nd commingled with other funds and the Lender's own funds and the Lender may pay such items � ' ,'�,
<br /> i from its own funds and the Lender shall not be ]iable for interest or dividends on such Fun�is. `
<br /> ' If the amount of the Funds held by Lender,together with the future monthly installments of Funds f` � �
<br /> " payable prior to the due dates of tases,'assessments, insurance premiums and ground rer,:s, �hall exceed ''�s��
<br /> � the amount required ta;pay sa:ia ta-,;es�asse�ments,insurance premiums and ground rent��th�y fall due, �� •
<br /> such excess shall be,at Borrower's option,e�ther pmmptly repaid to Borrower or credited to Borrower on ,� "�
<br /> monthly inataliments qf Funds. If the amount,of the Funds heid by Lender shall not be sufficient to pay
<br /> taac�s, assessments, insurance �iremiun�s and ground rents as they fall due, Borrower shall psy to Lender
<br /> ' any amount necessary to mal;e up the deficiency within thirty days after notice fmm Lender to Borrower � �`
<br /> t requesting payment thsreof, or Bonower shall;by an increase in monthly installments of Funds required,
<br /> repa}r the deficiency witl�n the Fund accounting period.
<br /> IJ�n pAyment in fu31 of all sums secureu k�y �hib Mortgage,Z,ender shall apply Fun�s held as a credit
<br /> against all sums due. �
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