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<br /> 1fVDIVIDUAL
<br /> � DUE ON'SALE'
<br /> OPTIONAL FUTURE A�VANCES
<br /> ` ��pA� SAVINGS FUND
<br /> �G1J►LR/'- FORM No.720
<br /> �NCO�.N 34199 — 188— _l
<br /> 1 Loan Number-----------------------
<br /> f TyDe BranCh
<br /> ? 77' (�(748'O1 ` M O R T 'G A G E ' ; ,
<br /> ;
<br /> � THI3 MORTGAGE,made and executed this.....::_. �c2..:.......... day of ---; �`.`�.."s'�-.---.--.-.-_- A.LI., :
<br /> ' t" 7 Ro er R,' Schweitzer..and Alyce L-,Schweitzer` husband',;and.,wife
<br /> 19..�..::.,between the Mortgagor,--_-g.--. . . ,....._. - - � - -��-�-'----�- - �-
<br /> " i ,joi�tly.,and;each>in their own,right.__
<br /> -�-- . _ . ...-- •-�---.. .. ---•---...
<br /> of Grand Island _ County of...,Ha11, .::_:_._`.,...,,_�State of:::Nebraska_____..�hereit�after referred
<br /> � -••--�-•- -----c��---�
<br /> ? to as the $orrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATIOI�T OF
<br /> ,
<br /> LINCOLN, 1235 ``N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> i as Lender.
<br /> ; Wr•rx�ssETx: That the said Borrower for and in consideration o#the sum of _.�'W.F.1`I�X..T�GHx...THQABAND
<br /> ;� _'�HI�EE HUNDRED:_PND NO/�100 ..--.--------- _--,------:---.Dol;ars (US$.28,300.00..::. . ...... ::)
<br /> � paid;by said Lender,`does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br /> % following described pmperty located in the County of ._ Hall
<br /> , •--------------------- ---------- State of Nebraska:
<br /> .�
<br /> i The Northerly Eighty-seven (87) feet of Lot One (1), in Fractional B1ock Nineteen'
<br /> x (19), Rollins' Addition to the City of Grand Island, Hall County, Nebr�a.
<br /> $
<br /> y
<br /> ,,
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<br /> z TocETxEx with all the improvements now or hereafter erected on the property, and all easements,
<br /> nights, appurtenances, rents,xoyalties, 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 wt�ich, 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 wvenants that Borrower is lawfuily 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) attoraey's opinion of ti£le from abstract of title certified
<br /> by'bonded abstracter:
<br /> PaovinEp Atwnys, and these presents are executed and delivered upon the following conditions,agree-
<br /> i ments and obligations of Che Borrower, to-wit:
<br /> The Borrower agrees to pay to the Lender, or order, the principal sum of _TI�TF.L�ITY_.EIGHT:.THOUSAND.
<br /> ; ' ..THBEE::HUNI2REA...PaI�IA.:I�tOl�QO-cc---:----.---------.---------.Dollars (US$.:28�300.00.;_. : .. -•----)
<br /> i payable as provided in a note executed and delivered concurrPntly herewith,the final payment of principal,
<br /> ; if not sooner paid,on the---•-•-:.I-sr�-------._ day of_....��j.°�rni/��.:..... ... .:... �vo.6 '
<br /> �.
<br /> UxrFoaM CovExaxTs Borrower and Lender covenant and agree as follows:
<br /> '• 1. Payment of Principal�d Interest. Bormwer shall promptly pay when due the principal of and in-
<br /> � 't ` terest on the indebtedness evidenced by the Note,prepayment and late charges as provided in the Note,
<br /> r and the principal'of and interest on any Future'Advances secured by this Mortgage_
<br /> 2. Funds for T�es crnd Ittsuraace. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> rower shall pay to Lender on the day monthiy installments,of principal and interestare payable under the
<br /> Note, until the Note is paid in full, a sum (herein "Funds") equai to one-twelfth of the yearly taxes and
<br /> assessments which mayattain priority over this Mortgage; and ground rents on the Property, if any plus
<br /> one-twelfth of yearly premium installments for hazara insurance, plus one-twelfth of yearly premium in-
<br /> < < stallments for mortgage insurance, if any, aR as reasonably estimated initialiy and from tune to time by
<br /> ;: Lender on the basis of assessments and bills and reasonable estiinates ttiereof,Lender shall appiy the Funds
<br /> ; to pa,y said taxea;assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br /> hoiding and applying the Funds or verifyzng 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 /> Fands and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> securi�y for the sums secured'by this Mortgage. The Bonower 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 iteins - � y ; r� ,'
<br /> 's ' from its own funds and the Lender shall not be liable for interest or dividends on such'Funda
<br /> �� ' -- rs� � �� �
<br /> If the atnount of the Funds held by Lender;together with the future monthiy installments of Funds � � �
<br /> payable prior to the due dates of taxes,:assessments, insurance premiums and gmund rents, shall exceed ' �
<br /> � the amount required to pay said tazes,assessments insurance premiums and ground rents as they fall due, ;�.�;�.
<br /> such excess ahail be, at'Borrower's;option, either promptly aepaid to Borrower or credited ta Borrower on :.�; .
<br /> monthiy iz�stallmettts of Funds. If the amount of the Funds held by Lender shall not be suflicient to pay
<br /> � taxes,assessments insurance ;emiums and, muttd rents as the fall r3ue, Bormwer shall ;� 'F"
<br /> > p g y pay to Lender
<br /> any anz�u�xt.necessary.i:o make up the denciency within thigty days after notice from Lender to Borrower
<br /> requesting.payment thereof, or Bosmwer shall, by an increase in montl�ly installments of Funds required, "t�
<br /> repay the deficiency within the Fund accounting period.
<br /> Upon �aytuent iu tull u[all eunas secured by this Mortgage,Lender shall apply F'unds held as a credit
<br /> against all sums`due_ ' _
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