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<br /> IMDiVIDUAL
<br /> DUE ON SALE
<br /> ��'i' OPTIONAL FUTURE ADYANCES
<br /> �■ SAVINGS FUND
<br /> '� . �� .A _, .FORn+ No.�720 . � , ��
<br /> �ry Loan Number__34203 __-188--_ - i---
<br /> r .. �� � � � � Type � 8rench
<br /> i' 7�`-. Q(���13 MORTGAGE
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<br /> THIS MORTGAGE,made and executed this- � ._..... day of.. _ A D.,
<br /> 19_.._77.,between the Mortgagor, Darrell J. De `��G��'".'""
<br /> ; ,,,,,, ,,, ,,,, y..;and_Mary_Lee..DeX_,..husband_.and.wife,._�oin�ly '
<br /> ', ,and:each.3n..their__own;_righY..:.... -.----- -
<br /> • ------�-- .. . ----- --�------ �-�----�- -....---•�---. . ;.. .- ---•--......
<br /> + of_.Grand,.island.,.,:,,,..� County 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, hereinafter referred to
<br /> as Lender.
<br /> ' t WiTxESSETH: That the said Borrower for and in consideration of the sum of _FIFTEEN,_THOUSAND,.,
<br /> z TWO,.IitJNDRED__AND_NOJ,100----------------.------.---------�ol.ars (US$--..15,,200.00..... -,-----.)
<br /> paid by said Lender, does hereb.v mortgage, grant and convey to Lender, its successors and assigns; the
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<br /> following described property located in the County of ......._...Hall,__._._______________� State of N�braska: '
<br /> � Lot Seven (7), B1ock Twelve (12), university P1ace, anAddition to the City
<br /> � of Grand' Island, Aall County, Nebraska.
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<br /> TocETxEa 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-
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<br /> s 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 /> Ri?o:tgAge :s on a 2easehold) are herein referred io as ihe "Froperty".
<br /> � Bonower 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 Pmperty against all claims and demands, subjecC to any
<br /> easements and restrictions listed in a schedule of exceptions to coverage in an,y 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 /> 2 by bonded abstracter.
<br /> PxovinEn ALwaYs, 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 1;o pay to the Lender,or order,the principal sum of _FIFTEEN__THQUSAND__TWO_
<br /> < ' <I3LINA&�D..AATA..NQ1..1.99-------.--------------------.----.---'�ollars (US$ .15,200, 00---- -�----.: .)
<br /> payable as provided in a note executed and delivered, concurrently herewith,the final payment of principal,
<br /> : "j if not sooner paid,on the.---�-st--- -...---.-- day of.---.August----._............----, 1�•-�006 '
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<br /> UxiFoaM CovExaxrs.Borrower and Lender covenant ancl agree as follows:
<br /> L Payment ot 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 Mortgage.
<br /> 2. Fuads for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> mwer shall �ay to Lender on the day monthly installments of principal and interest are payable under the
<br /> Note,unti2 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-twelfth of yearly premium in-
<br /> staliments for mortgage insurance, if any, all as reasonably esticnated initially and from time to tune by
<br /> Lender on the basis of asseasments and I�ills and reasonable estisnstes thereof,Lender shall apply the Funds
<br /> to pay said taxes;'assessments,insurance premium�and grovnd rents. Lender chall make no char�e for Go
<br /> holding and applying the Funds or verifying and compiling said aFsessments and bills. The Lender shall
<br /> give to the Borrower, without chasge,an annual accounting of the Funds showing credits and debits to the
<br /> Funda and the purpose for which each debit to the Funds was made.The Funds are pledged as additional
<br /> security;for the&urns 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#unds and the Lender rnay pay such items
<br /> from its own funds and the Lender shall not be liable for interest or dividends on such Funds. �+4.,� � '^�
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<br /> If the amount of the Funds heid by Lender,together with the future monthly installments of Funds � }�e x,�,��^`'
<br /> payable,prior to the due dates of taxes,assessments: insurance premiums and ground rents, shall exceed � .
<br /> ' � the amount reguired to pay said tages,assessmenta,�nsurance premiums and graund rents as they fall due, ; ,�,
<br /> such excess s�ali be,at Borrower's option, either pmmptly repaid to Borrower or credited to Borrower on <i"'
<br /> monEhly inst;allments of Funds. If Lhe amount of the Fands held by Lender shall not be suffieient to pay -�..:
<br /> � taxes,assessments, insurance prerniums"and ground'rents as they fail due, Borrower shall pa5 to Lender
<br /> any amount aecessary to make np the deficiency wittun thirty days after notice from Lender to Borrower
<br /> requesting paymenG thereof, or Borrower shall, by an increase in monthly instailments of Funds required, �::'
<br /> repay the defieiency witizin the Fund accounting period.
<br /> il(wn payment in full of all sUtns secured by this Niortgage, Lender shall apply B'unds held as a credit
<br /> against all surne due.
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