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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> FIR� OPTIONAL FUTURE ADVANCES
<br /> ��pA■ SAVINGS FUND
<br /> t'CV�RML FORM N0.720
<br /> ��IVC01-N �oa� Number___33961 _-_ 188 _-__1 __
<br /> � � � . .. . . TY9e Branch
<br /> � ,�� �)U�31.�
<br /> M O R T G A G E
<br /> � THIS MORTGAGE, made and executed this _:.:.,_,.���....,_._.._ day of ......�� 4S?`.. . .__.. A.D.,
<br /> �c ..
<br /> ` 19._7_7...,between the Mortgagor,.:.�arzA.1J.:.B.....Hfll.mes_.and.Barbara:.A...Holmes;hushan.d..and..wife,
<br /> ' '; ._1��niJ.Y.•--�ci__�.aah:_�m.:�h��.x::a�._.ri.glat��--------------------------------•---......._....-----�--� �-�-�------------- - �------••---��-
<br /> ; t og .;Grand'_Zsland..,, ._., County of ...... _....H.al.J.................State of...�Iab.raska..:....,hereinafter refened
<br /> to as'the Borrower, and the Morigagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, NeUraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> ; WtTxEssETx: That the said Borrower for and in cons:deration of the sum of_'�?ENTY.TWO_.T1�9.L?�AND
<br /> i EIVE HUNDRID AND NO/100-------------,------.-----.----. ' 500--QQ- -
<br /> . . -----•-------�-��------•...................................... ........ .. ... . . -�ol.ars (IIS$_22�._ . .--��----�
<br /> ; paid by said Lender, does hereby mortgage, grant and comey to Lender, its successors and assigns; the
<br /> ; following described property located in the County of .....Hall ......., State of Nebraska:
<br /> ` � Lot Two (2), Block Eight (8), West View, an Additiran. to the City
<br /> of Grand Island, Ha11 County, Nebraska.
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<br /> TocETxEx with all the improvements now or hereafter erected on the property, and all easements,
<br /> rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br /> j water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br /> ' ments and additions thereto,shall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> Borrower eovenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warrant and defend generally the title to the Property against all claims and demands, subject to any
<br /> easements and zestrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br /> ,! suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> PxoviDEn AtwnYs, and these presents are executed and delivered upon the following conditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> ' � The Borrower agrees to pay to the Lender, or order, the principal sum of_T�NTX..xI�'9._THOUSAND....
<br /> i �I.YE.HUNDRED.AND'-NO(1Q0_------------------r------------�ollars (US$-2�,,509,.Q0. ..._ .. ._----,-.)
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> r
<br /> if not sooner paid,on the__.._.�.5�........_..-_ day of ....._.A3?gll�t...... ................. �..�QQ�s
<br /> i3xiFoxM CovEx.arrTs. Borrower and Lender covenant and agree as follows:
<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 Note,
<br /> and the principal of and interest on any Future Advances secured by this D4ortgage.
<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 installinents of principal and interest are payable under the
<br /> Note, until the Note is paid in full,a sum (herein "Funds") equal to one-tw•elfth 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-twelfth of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated initialiy and from time to time by
<br /> Lender on the hasis of assessments and bills and reasonable estimates thereof,I.ender shall apply t.hc Funds
<br /> to pay �aid ta�ces, assessments, insurance premiums and ground renis. Lender shali malce no cl�arge iur so
<br /> holding and applying the Funds or verifying and compiling said assessments and bills. The Lender shall
<br /> give to the Bormwer, 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 additionxl
<br /> ; ' security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the �
<br /> r' Lender ancl commingled with other funds and the Lender's own funds and the Lender may pay such items
<br /> ` from its own funds and the Lender shall not be liable for interest or dividends on such Funds. �' � '`�t��
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<br /> ' ; If the amount of the Funds heid by Lender,together with the future monthly installments of Funds � ��*� '
<br /> payabie prior to the due dates of taxes,assessments: insurance prexniums and ground rants, shall exceecl + �
<br /> � the amaunt required to pay said taxes,assessments,insurance premiums and ground rents as they fall due,
<br /> such excess shail be, at Sorrower's option, eit#zer promptly repaid to Borrower or credited to Borrower on
<br /> �
<br /> ' monthly installxnents of F:�nds. If the amount of the I'unds held by Lender shali not he sufficient to pay `
<br />� � taxe�a aace,s�smentc, insvrance pramiums and d,aund rents as they fa?1 due, Sormmer shsll gas�to ?ender
<br /> any arnount necessary to make;up the de&ciency within thirty days after notice from Lender to Borrower
<br /> requesting payment thereo#, or Borrower shalt, by an increase in monthly installments of Runds required,
<br /> repay the deficiency within the Fund accountin� period.
<br /> Upon`payment in fuli of a1T sums secured by this Mortgage,Lender shall apply Funds held as a credit
<br /> against all sums due.
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