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<br /> tNa1VIDUAL
<br /> `DUE ON SALE
<br /> r.Rs'�' OPTIONAL FUTURE ADVANGES
<br /> �L SAYINGS FUND
<br /> " FORn� No.720
<br /> u��LN Loan Number__ 34234 — 188 — 1
<br /> �.�.,� . � . . . . . . ... . --------TYPo- ---8.a��h .
<br /> ��'. �0454I MORTGA GE ' ;
<br /> � THIS 1VIORTGAGE,made and executed this ......:....... u �s�` .::.:... A.D.,
<br /> ------�� -- � .--.._...day of . .-�-�-�--...---
<br /> _� 19:_.7.7:..,between the Mortgagor `�chard,_L, Archer,_and._Cynthia_ J :,.Archer.,..husband_.and;w�,fe,
<br /> ; , �ointly:and'each.in,;their_,own__ri,ght.,;._.,..,, .,., __ . _
<br /> - -- --�- ---•.... .. ...... .. . .�--- ---•-- .._.
<br /> of..:__Grand_Island ._,___ County of .......... Hall, .,..__.,,State of...Nebraska_ hereinafter referzed
<br /> r; to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN�ASSOCTATION OF
<br /> LINCOLN, 1235"N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> _� WiTNEsssTx: That the said Borrower for and in consideration of the sum of 23W700YOOHREE TKDUSAND
<br /> ' ' SEVEN HUNDRED AND NO/100----------------.-.. .... ..............Dol.ars (US$.. ....._....--�---•--�----�-•----�
<br /> •�---•�- -••--•.. ... ........ ......... .. ..------•- - ---
<br /> paid by said Lender, does hereby 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 /> ; I,ot Seven (7) in Block Fifteen (15) in Ashton Place, an Addition to the City
<br /> of Grand IsIand, Hall County,Nebraska.
<br /> ' TocETxEx with all the iinprovements now or hereafter erected on the property, and all easements,
<br /> rights, appurtenances, rents, royalties, mineral, oil and gas rights and profifs, 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 wvered 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 "Froperty".
<br /> Borrower covenants that Bonower is lawfully seised of t.he 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 /> ��
<br /> � PaovinEn AtwnYs, and these presents are executed and delivered ugon the following conditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> r The Borrower agrees to pay to the Lender,or order, the principal sum of _..�E�`I�`C._.'THBEE_T.'kiQIIS?.I�ID `
<br /> ; ._SEYF'Sl._HU�IRIiFA__ANA..�?Q/1Q.0--r..--------c---c-.---r.r.------Dollars (US $-2.3.7.O.Q,_RO...............:.:..)
<br /> payable as provided in a note executed and delivered, concurrently herewith,the final payment of principal, s
<br /> � %`, if not sooner paid, on the_.._....�.��.. ..----.-- day of ..._6ugllst....................._.---., �YSL.2Q�2 '
<br /> UxiFoxM CovExnxTs. Borrower and Lender covenant and agree as follows:
<br /> 1. Paymettt 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 Uy this Mortgage.
<br /> 2. Fuads for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and a 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 qf yeaxly premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated init3ally and from time ta time by
<br /> Lender on the basis of assessments and bilis and reasonable estimates thereof,Lender shall apply the Funds
<br /> ta paysaid"taxes, assessments,insurance premiums and ground rents. Lender shall malce no charge for so
<br /> t�oiding and applying t.he Funds or verifying and coin�iling saici assessriieuts aucl bills. Tl�e Lender shail
<br /> give to the Borrower, without chrxrge,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 Borrower agrees that.the Funds may be held by the
<br /> � Lender and commingied with other funds and the Lender's own funds and the Lender may pay such items '
<br /> from its own funds and the Lendef shail not be liable for interest or dividends on such Funds. "
<br /> . . . . .. . . . . .. . . . � ... , .,r�,,,.
<br /> if'the amount of the Funds held by Lender,together with the-future monthly installments of Funds � „ ;;:N"`
<br /> � payable prior to the due dates of taxes,assessments: insurance premiums and ground ren�s, shall exceed �� .
<br /> xhe amount required to pay saict taxes,assessments, insurance premiums and ground rents as they fall due, a
<br /> such excess_shall be, at$orrower's option, either promptly repaid to Bonower or credited to Borrower on ,:��:.'
<br /> . monthly installments of Funds. If the amonnt o£ the Funds held by Lender shall not be sufTicient to pay = r.. .
<br /> ` ` taaes, assessmettts, iasitrance'premiums and ground.rents as they fat3 due,Bo:zro:��er shall gay to Lender ` '"' "
<br /> '- any am�unt necp�aary to make up the deficiency within thirty days a£t.er notice fmm I,ender to Borrower `
<br /> requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, �*•
<br /> repay Ehe deficiency within the Fund accounting period.
<br /> I7pon payment in fiill �f all eamR sPCL�red hy this Mortga�,*P,Lender�hr�li apply Fun�i�hPld a�a cre�iit
<br /> against all�ums due.
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