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<br /> INC)1VIDUAL '
<br /> 2�iU� C:Fi r",-'AL�
<br /> FIRS��V� OPTIONAL FUTURE ADYANCES
<br /> G2�sN� SAVI�IGB FUND ,
<br /> f'�VC�6P1 FORM No.720
<br /> L���N 341i2 — 18� —1
<br /> ._. Loan Numper--------------------------
<br /> . . . � � . . Troe �.ao<n
<br /> 1 >
<br /> , „��, MO RTGAGE
<br /> s!- Ulf���Y�
<br /> ; THIS MORTGAGE, made and executed this... .�2......... .. da,y of ..........��. . . A.D.,
<br /> ..........
<br /> lg ?? ,bat�e•ee� ±ha Tn�rt�agnr, .Harry..E.....Clegg..aild L.e�??�...�,.._Cl�gg-,.k�usk.azz�and..wi.fe,........._
<br /> ` ! ,jointly._and each__in_their_,own_.right e...---�---�-........................---�--_. ... _. .. ...... ...- �---�---............-----
<br /> ' ;� of ....Grand_ Island_, _.... County of _........Hall.__ . _..,_, _,State of Nepra$.��_....._.,hereinafter referred
<br /> to as the Borrower, and the Mortgagee, h'IRST FED�i{AL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> WiTxEssETx: That the said Borrower for and in consideratio�of the sum of .'�'Y?F.�I�..�I6HT...THDUSAND
<br /> I ..AND,NO(100----.-----------------------r.-------r.-----�ollars (US �...2.8.,.QQ4.O.Q .............��
<br /> paid by said Lender, does hereby rnortgage, grant and canvey to Lender, its successors and assigns; the
<br /> ' following described property located in the County of ........#la�.� ._._.._...,............... State of Nebraska:
<br /> The Northerly Twenty (20) feet of Lot Ten (10) and all of Lot Eleven (11� in
<br /> "Rueting's Second Subdivision" being a part of the Southwest Quarter (SWu) of Section
<br /> Twenty–four (24), Township Eleven (11) North, Range Ten (10) West of the 6th
<br /> ti
<br /> P.M., Hall County, Nebraska.
<br /> TocETt�Ea cvith all t.he improvements now or hereafter erected on the property, and all easements,
<br /> rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br /> water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br /> ments and additions thereto,shall be deemed to be anci remain a part of the property covered b,y 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 leasehold) are herein referred to as the "Property".
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby canveyed and has the right
<br /> to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warrant and defend generally the title to the Property against all clairns and demands, subject to any
<br /> easements and restrictions ]isted in a schedule of exceptions to coverage in any title insurance policy in-
<br /> s ,urir�g i,e:r„2�'� ;.te:a�t:: th� P.^ape.ty�, or {�) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> PROVIDED ALWAYS� and these presents are executed and delivered upon the following conditions,agree- �� �.:.
<br /> ; ments and obligations of the Borrower, to-wit:
<br /> �, `! The Sorrower agrees to pay to the Lender,or order, the principal sum of ... '�"?ENTY..EIGHT THOUSAND
<br /> ` AND._NOf 100---------------------------------.-----,-----Dollaxs (US $...28x000.00
<br /> � � ---------------- ... ......_....._........----..._.. . --...__)
<br /> payable as provided in a note executed and delivered,concurrently herewit.h,the final payment of principal, .
<br /> ? if not sooner paid, on the_........ ._lst...._ day of......... August. ......__ ......,�x.....2002
<br /> ,','
<br /> UxisoxM CovExpxTs. Borrower and Lender covenant and agree as follow,:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Note,prepayment and late charges as provided in the 1Vote,
<br /> and the principa] of and interest on any Future Advances secured by this�Rort,gage.
<br /> 2. Funds for Taxes cnd Insurance. Subject to Lender's option under paragraphs 4 and 5 hereoF, Bor-
<br /> rower shall pay to Lender on the day monthly installments of principal and interest are payable under the
<br /> Note, until the Note is paicl in fuil, a sum (herein "P'unds") equal to one-twelft.h of the ��early taxes and
<br /> assessments which ma,y attain priority over this Mortgage, and ground rents on the Property, if any plus
<br /> one-twelfth of yearly premium installments for hazard insurance, pius one-twelfth of yearly premium in-
<br /> stallments for mortga�e insurance, if anv, all as reasonably estimated initiiall,y and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lender st�all appl,y the Funds
<br /> to pay said taxes, assessments, insurance premiums and ground rente. Lender Ghall make no charge for co
<br /> holding and �pplying the Funds �r verifS�ing and coi:apiling said assessmenfs snd bil!s. The Lender shaL
<br /> give to the Borrower,without charge,an annual accounting of the Funds showing credits and debits to the
<br /> 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 b,y tlzis Mortgage. The Borrawer agrees that the Funds ma,y he held Uy the
<br /> Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items ��Y ,
<br /> from its own funds and the Lender shall not be liable for interest or dividends on such Funds. . � ��
<br /> If the an�ount of the Funds heid by i.ender,together with the future monthly installments of Funds � "
<br /> payable prsor to the due dates of taxes, assessments, insurance premiums and ground rents, sliall exceed ' �
<br /> � the amount required to pay said tages, assessments,insurance premiums and ground rents as they fall due,
<br /> such excess shall be,at Borrower's option, either pmmptly repaid to Borrower or credited to Borrower on
<br /> monthly mstallments of Funds. If the amount of the Funds held by Lender shall not be su�cient to pay
<br /> taxes, assessments, insurance premiums and ground rents a� thev fall due, I3ormwer shall pay to I,endPr �
<br />' any amount necessary to make up the deficiency within thirt.y da,ys after notice from Lender to Borrower -"�
<br /> requesting payment thereof, or $orrower shall, by an increase in monthly installments of Funds required, "
<br /> repay the deficiency within the Fund accounting period_
<br /> Upon payment in fu11 0£a1T sums secured by thie Mortga�e,Lender shall applY Funds held as a credit
<br /> � against all sumy due. �
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