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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> FlR.7T OPTIONAL FUTURE ADVANCES
<br /> ���� SAVWGS FUND
<br /> '�, . Forxn� NoJ26
<br /> ! �-��Ot-N Loan Number--- 33673 _— 199 --- 1---
<br /> � . . . . . . . � .. . TYPe Branch
<br /> �. � . . . . � . . � . . . ���
<br /> ;: �7- OQ�502 M O R T G A G E
<br /> ! Tf-IIS D40RTGAGE, made and executed this :..........?±th.___._._.. day of,._,.August.._._ ...,.,.:..._ A.D.,
<br /> ' 19.�.77_,between the Mortgagor,. Richard._L,. McF��ly.,anr� Dorotl�x..I._.M�Feely,__.husbansi...ansl___
<br /> ^ ; wifei...lointly and__each.:in_,their„own__right�_.... ............. . _ ....... .- ------. -•• -----........._--------
<br /> of :..Grand,.Island_...._,_.� County of . ....:.... Hall.__ _,,. __„State of .. Nebraska .. ..,hereinafter referred
<br /> to as tfze Borrower, and the Mortgagee, FIRST FEDERAL SAVINCS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> r
<br /> as Lencler.
<br /> '' WtTx�ssETx: That the said Bonower for and in consideration of the sum of ._SI��'}�..�Wp..xIiOII&A�LD
<br /> � ; .FOUR._HUNDRED.AND.,NO/100---.-----.------------.---------.t�ol:ars (US�a-.6.2o.49.Q,.Q9-----...-----...)
<br /> paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br /> ° � following described property lo�ateld in the County of ........Hall...... .... ... ... State of Nebraska: A tract of
<br /> land comprising a part of the NE�NE� of Section 27, Township 11 North, Range 10, West o£ the 6th P.M.
<br /> f in Ha11 County, Nebraslia, more particularly described as follows: Beginning at a point 660.0 feet
<br /> west and 663.Q feet south of the Northeast corner of said Section 27; thence southerly along a line
<br /> ': 660.0 feet west of and parallel to the east line of said Section 27, a distance of 663.0 feet; thence
<br /> westerly parallel to the north line of said Section 27 a distance of 660.86 feet, to the west line
<br /> of said NEyNE;; thence northerly along the west line of said NE,i—,NE,�—�, a distance of 663.0 feet;
<br /> `- thence easterly parallel to the north line of said Section 27 a distance of 659.36 feet to the
<br /> place of beginning.
<br /> TocETtaEx with all the 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 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 /> t � • �
<br /> Borrower covenants that Borrower is]awfully 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 title from abstract of title certified
<br /> by bonded abstracter.
<br /> PxoviuEn ALWAYS� and these presents are executed and delivered upon the following canditions,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 ...3IXTY._TS�?Q..THOIISANA_.___
<br /> k:QTIA,.ZiUNA�D..AN�?.N91._7.OQ-r..----r.---r.r----r----r--r.r---r�ollars (iJS "�.....6.2,.4DA...QO__...._.....---)
<br /> payable as provided in a note executed and delivered, concurrently herewith,the final payment.of principal,
<br /> if not sooner paid, on the--.--_-lst..._..-----.. day of..__._�2�Sem1�eS._...................�--2�0.6
<br /> 1
<br /> IIxiFosM CovErtpxTs.Borrower and Lender covenant and agree as Sollows:
<br /> 1. Payment of Principal and Interest. Bormwer 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 /> and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds for Taxes and 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 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, if any plus
<br /> one-twelfth oF yearly premium installments for hazard insurance, plus one-Cwelfth of yearly premium in-
<br /> stallments For mortgage insurance, if anv, all as reasonably estimated initially and from time to titne by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lender shati apply the Funds
<br /> to pay said t,a�ces, assessments, insurance premiums and ground rents. Lender 51�a11 nlake no �.Iiarge fur �u
<br /> holding and applying the Funds or verifying and compiling said assessments snd Uilla 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 �i�as 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 and commingled with other funds and the Lender's own funds and the Lender may pay such items �"�
<br /> from its own funds and the iender shall not be liable for interest or dividends on such FundS. ,,, �''�
<br /> If the amount of the Funds held by Lender,together with the #uture monthly installments of Funds "R;'�; *��"
<br /> payable prior to the due dates of ta�es, assessments, insurance premiums and ground rents, shall exceed '
<br /> Lthe amount required to pay said taxes,assessments, msurance premiums and ground rents a.G they fall due,
<br /> such excess shall be,at`Borrower's option,either promptly repa.id to Borrower or credited to Borrower on
<br /> monthly: installments of Funds. If the amount of the I�unds held by Lender shait nat be suffiaicnt to�at-
<br /> taxes, assessments, insurance premiums and b.ounr2 rcnts as they fail due, Borro���ez shall pas� to Lendea �
<br /> any amount necessary'to make up the deficiency within thirty days after notice from Ler.der to Borrower
<br /> requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, s-
<br /> repay the deficiency withim the Fund accounting period.
<br /> Upon payment in full of all sums secured by this Mortgage,Lender shall apply Funds held as a credit.
<br />� � against all sums due.
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