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<br /> INDIVIDUAL
<br /> ,�'y�J �UE ON SALE
<br /> `� r1�K..7pi � OP.T..^iP:.'�+L rG':vR� nC`:.^-.R:C�S
<br /> �V6RML s Rnn'Wo.szo UND �
<br /> ���N Loan Number__34061___—_�_____1
<br /> � . . ..- . � . � .. � � . . � TYPC Branch
<br /> � � . � . .. . � �. .
<br /> %%'+ �04271 M O R T G A G E
<br /> i � �
<br /> ; THIS MORTGAGE,made and executed this ...........�$tn.. ._., day of ........ ..,Ju].y................. . A.D.,
<br /> � 19__.7.7_.,between the Mortgagor, . Gary Edward,Shovlain:.and.Linda.,Diane.Shovlain,_Husb�,�d__a�d
<br /> ; Wife as Joint Tenants with Ri�ht of:Suryivorship..and Not as._Tenants in_Common _
<br /> _ --- -.... ..... - .- --.......
<br /> � of :..Grand Island , County of._...Hall......... .........State of...Nebraska ._.,,hereinafter referred
<br /> . -
<br /> � to as the Borrower,and the Mortgagee, I'IRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> - LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> WixxEssETx: That the said Borrower for and in consideration of the sum o£ ....... ............................
<br /> i _SEVENTY-FIVE.THOUSAND.AND_NOj100_.-------------------�ol:ars (US�+.__.Z5.,9.OQ�DA----r.--_.)
<br /> paid by said Lender, does hereUy mortgage, grant and convey to Lender, its successors and assigns; the
<br /> ; following described property located in the County of .._.. .Hall......... .............. State of Nebraska:
<br /> A tract of land comprising the South Sixty-three (63.0) feet of Lot
<br /> Eighteen (18) and the North Fifty-seven (57.0) feet of Lot Nineteen
<br /> (l9), Holcomb Highway Homes Addition to the City of Grand Island,
<br /> Hall County, Nebraska.
<br /> ' r TocE'rHex with all the improvements naw or hereafter erected on the property, and all easements,
<br /> rights, appurtenances, ren�s, 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, inciuding replace-
<br /> ments and additions tliereto, 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 leasehold) 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 unencumbered, and that Borrower will
<br /> � warrant and defend generally the title to the Property against all 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 Y.itle 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 /> ' S VENTY rFIVE THOUS to pay to NO%00 der,or order, the principal sum of :........... ... ........ . ............
<br /> ' ----�---...---AND AND --- --..Dollars (L78 �---75..Q�O.D.Q--- .... ....----�
<br /> ..-----�----- -------�--- . ......_........................... ......
<br /> '; payable as provided in a note executed and delivered concurrently herewith,the final payment of principal,
<br /> • i if not sooner paid,on the_...£irst S, Au ust lg_ 92
<br /> ----... da of-��--_g...
<br /> UxiFoxn7 COVENANTS. BOLT'Ower and Lender covenant and agree as follows
<br /> 1. Payrnent 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 Note,
<br /> 2. Funds for Taxes and Insur�ce. 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 paid in full,a sum (herein "Funds") equal to one-twelfth of the yearly taxes and
<br /> assessments which may attain priority over this Mortgage, and ground rents on the Property, 3f any plus
<br /> one-twelfth of yearly premium installments for hazard insurance, plus one-twelftn of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lencler shall apply the Funds
<br /> to pag�said tases, assessments,insurance premiums and ground rentc. Lender shall make no charge for so
<br /> holding and applying the Funds or verifying and compiling said assessments 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 /> � 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 Bonower agrees that the Funds mAy be held by the
<br /> Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items d
<br /> from its own funds and the Lender shall not be liable for interest or dividends on such Funds. . �`"'
<br /> ��,�
<br /> If the amount of the Funds heid by Lender,together with the future monthly installments of Funds �� "N "`
<br /> �� payable prior to the due dates of tases, assessments, insurance premiums and �round rents, shall exceed �'
<br /> the amount required to pay said taxes,assessments, insurance premiUms and ground rents as they fall due, �
<br /> such excess shall be,at Borrower's option,either promptly repaid to Borrower or credited to Bonower on �,.;; .
<br /> monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br /> taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shail pay to Lender
<br /> any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br /> requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, °
<br /> repay the deficiency within the Fund accounting period.
<br /> lipon payment in full of all sums secured b,y this Mortgage,Lender shall apply Funds he3d as a credii
<br /> � against all sums due. �
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