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<br /> IIVDIVIDUAL
<br /> �R�'� DUE ON SALE
<br /> OPTIONAL"FUTURE ADVANCES
<br /> SAVINGS FUND
<br /> ' FORM No.720 . .
<br /> L�NC�L-� Loan Nurnber__ 34210__— 188__-__1__
<br /> . . . .. . . �� TYGe �B�anch
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<br /> 7�'- QQ4��$ ` M ORTG` AGE
<br /> , � THIS MORTGAGE,made and executed this _._:.. ...:. day of _.............. ..:_ A.D.,
<br /> �------..... . �---....... ,
<br /> � 19..:_::....;between£he Mortgagor,.Terry.L..;,.Hoffart:.,and:Patricia.L,_._Ho�f�yx.t.,:.husbansi...and_iaife,
<br /> - �ointlY..:and:each::in._their own_right.�... ........ �--•........ .:......-------------�------ �-- .
<br /> -- - � ........... .. -- -------•--��--
<br /> ` of_,...Grand Is land_... .� County of .. ._....Hall______________,State of.:.N�k.�:�sk�...._..,hereinafter referred
<br /> ._...�,.. .
<br /> to as the Bocrower, 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 /> 4 TWENTY FIVE THOIISAND
<br /> GIXV��t�� • said Borrower for and in consideration of the sum of ...... . ..............
<br /> HANDT�tl�$�Q- ------------------------- , 2�,600.00.'_
<br /> a --------- ----------�---------�---�----�•-- ��----��---..-•--...._..._..........._.__...-•---Dol.ars (US�--.........._.....--�----_...._.._.:...)
<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................_:__., $tate of Nebraska:
<br /> Lot` Fourteen (14) in Block One (1) in Meves First Addition to the '
<br /> City of Grand Island, Hal1 County, Nebraska.
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<br /> TqcETxEs with all the improvements now or hereafter erected on the property, and all easements,
<br /> rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br /> water stock, and all fixtures now or hereafter attached to the property, nli of which, including replace-
<br /> ments and additions thereto,shall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> to mortgage,grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warrant and defend generally the title to the Property against aIl claims and demands, subject to any
<br /> � easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br /> � suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br /> � by bonded abstracter:
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<br /> PaovinEn ALwaYs, and these presents are executed and delivered upon the following conditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> i The Borrower agrees to pay to the Lender,or order, the principal sum of .�AtxX_.FSV.E_THQUSADiD..SIX
<br /> ` �UDIA��?__AN.D.NOL.1.QQr.-------r.-.--------------r..--------r-�ollars (US$-..25.>SDD...QD...._--._._.._...)
<br /> payable as pTovided in a note executed and delivered concurrently here�+�th,the final payment of principal,
<br /> � if not sooner paid,on the-----.--lst_... ..--- day of .:_.August................. .........Xl?�}C--.�QO6 �
<br /> UxisoxNt CovExnxTs.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 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 principa3 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-twelfth 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, Lender shall apply the Funds
<br /> to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br /> holding nnd Applying the Funds or verifying and compilino said assessments and hills. The Lender sh�ll
<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 Borrower agrees that the Funds may be held by the }
<br /> I.ender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br /> #rom its own funds and the Lender shall not be liable for interest or c}ividends on such Funds. �"°� � = +�,�"�.
<br /> %�� w: :�
<br /> If the amount of the Funds held by Lender togethes with the future monthly installments of Funds y� *� �
<br /> payable prior.to the due dates of taxes,assessments, insurance premiums and ground rents, shsll exceed
<br /> � the aznount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, �� x,
<br /> such.excess shail be,at Borrower's option,either promptty repaid to Borrower or eredited to Borrower on ��
<br /> monthly installments of Funds. If the amount of ttie Funds held by Lender shall not be sufficient to pay
<br /> taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br /> any amount necessary to`make up the deficiency within thirty days after notice from Lender to Borrower ` . ` '=
<br /> requesting payme�t thereof, or Borrower shall, by an increase in monthly installrnents qf Funds required, '
<br /> repay the deficiency within the Fund accounting period. �
<br /> Upon payment in'fuil of aIl swns secured by this Mortgage,Lender shall appi,y Funds heid as a credit
<br /> againsL xll�ums due.
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