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<br /> IfVDIVIDUAL +
<br /> DUE ON SALE
<br /> ���'r OPTtONAL FUTURE ADYANCES
<br /> ��A■ SAVINGS FUND
<br /> ��R'" .� FORM No.720 �
<br /> � t-'NC�� Loan Number__34840 -- 188_._ 1
<br /> .. . . . . . . --rvae arancn .
<br /> : I��J6G� RTGAGE
<br /> `77- QOf0�3�
<br /> THIS MORTGAGE, made and executed this . ....... �� . day of:..... ��"�`'-' A D.,
<br /> 19._.7 betwe n the Mort agor, Mj:lo D :Richter and Valerie G.._.Richter: husband and
<br /> , ,� .. ........ . ...:..
<br /> ' wife�'joint�y and eac� in their own ri ght --------------- -------
<br /> ..._._.--�---�---......- ...... ............................�--...---•�------......---........--•--....-�-----•-- •-�-�-�--- ..._..._...... ---•--••----
<br /> of Grand._Island ___ County of ._.__Hall : „__„State of.....Nebraska :hereinafter zeferred •
<br /> ..... _........ ._..._.,
<br /> to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lineoln, Nebraska 68501, its successors and assigns,hereinafter xeferred to
<br /> as Lender.
<br /> � WiTN� 5 Tx: That the said Bonower for and in consideration of the sum of TH2RTY ONE THOUSAND
<br /> AND Id0 ���-----------------------------------------�o;,ars (US$ 31 -000 ,00:.. _.:.:)
<br /> ; . ...:...........---� .............._--��-�----�-� ----......... .:..---_............ _...,--�--..
<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 /> Lot Ten (10), in Block Two (2), in Dill and Huston's Addition to the
<br /> 4 City of Grand Island, Ha11 County, Nebraska.
<br /> �� � � � �
<br /> ToceTa�,a 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-
<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 tl�e Property is unencumUered, and that Barrower will
<br /> warrant and defend generall,y 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 /> PaovmEn ALWAYS� and these presents are executed and delivered upon the foliowing conditions,agree-
<br /> ments and obligations of the Borroccer, to-wit:
<br /> ThsBomower agrees to pay to the Lender, or order, the principal sum of THIRTY._ONE_THOU�ND;,_,..
<br /> ' AND NO/100---------------------------------------- 31 000 40
<br /> ; -- �---._._............................. .. ......-----��----�--------------�- --... - -- Dollars (US $ .........�.. ...)
<br /> payaule as pk•ovided in a note execuied and delivered,concurrentiy herewith,the finai payinent ol principal,
<br /> : if not sooner paid, on the ...... ...lst.._.:..._. day of..___...Nosremher. .. ._.__.,�$..�pp6
<br /> UrriFaxna CovEx.�xTs. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. $ormwer shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Note, prepayment and late charges as provicled in the I`'ote,
<br /> and the principal of xnd interest on any Future Advances secured by{:his Mort�age.
<br /> Z. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> ro�ver shail pav to Lender on the day monthly installments of principal and interest are payable under the
<br /> Note, until the Note is paid in full,a sutn (herein "Funds") equal to one-twel£th of the yearly taxes and
<br /> assessments which may attain priority over this Mortgage, and ground rents on the Property, if any plus
<br /> one-twelfth of yearly premium installments for hazard insurance, plus one-twelith of yearly premium in-
<br /> stallments for mort�age insurance, if anv, all ae reasonabty esti�natsd initiall�� t�nd from time to titne hv
<br /> Lender pn the baais of assessments and bills and reasonable estimates thereof,Lender shall apply the F'unds
<br /> to pay said taxes,assessments, insurance premiums and ground rent5. Lender shall make no charge for so
<br /> holding and applying the Funds or verifying and compiling said assessments and bills_ The Lender shall
<br /> give to the$orrower, evithout charge,an annual account;ing of the Funds showing credits and det�its to tlie
<br /> Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additionai
<br /> security for the sums secured by this Morbgage. The Borrower agrees that the Funds may be held by the ---:s '' ���• '
<br /> I.ender and commingled with other funds and the Lender's own funds and the Lender may pay such items ^ '}; �at �fi;
<br /> � fxom ite own tunds and the Lender shall not be liable for interest or dividends on such Funds. €� �: ,�«z�..
<br /> If the amount of the Funds held by Lender,together with the future monthly installments of �unds �� �`�.���, ,
<br /> payable prior ta the due dates of taxes,assessments, insurance premiums and ground rents, shail exceed ���<`
<br /> the amount required to pay said taxes,asses�ments, insurance premiums and ground rents as they fall due,
<br />�- suc:h excess shall be,at$orrower's option,either pmmptly repaid Y,o B�rrower or credited to Borrower on
<br /> niorithly iaibfalLnes�ib oI ruud�. IL Llie ainuui�t vi i.he Fund�heiri uy Lender siialt twL Le sufficieiit to �ay
<br /> taxes, assessments, insurance p;emiums 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 payment thereof, or Borrower shall; by an increase in monthly installment_s of Funds required,
<br />� rapay the :teficiency within the Fund accounting period.
<br />� ? Ul�on payment in fu�l of a17 sums secured by this Illortgage,Lender shall appl��Funds held as a credit �
<br /> ;; against all sums due:
<br />� _
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