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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> OPTIONAL FUTURE ADVANCES
<br /> L SAVINGS FUND
<br /> � FORM No.720
<br /> Loan Number_ 35053 ___- 188— 1
<br /> TYDe--_—_Br�nch
<br /> 77 U(16862 MORTGAGE
<br /> THI9 MORTGAGE, made and executed this .. ...__.......�-5.._. day of ..._._.._...__.....__..�-..._A.D.,
<br /> 19._��..., betwcen the Mortgagor, ___.�ugene,H,�._Scarbo.�ough._and_,Catherine_K,...Scarborough,.__.,_,
<br /> ..... ..... ...---hlvl54�31�id..�h�_.W.�.�.�....jointly and..each in_,their own right: .....---- --..._. _..._._...--
<br /> of __.�rand._Islaad.. ..._., County of ...._...Hall__.............._.�State of_...Nebraska....�hereinafter reEerred
<br /> to ae the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINGOI.N, I235 "N"Street, Lincoln, Nebraeka 68501, ite euccessors and assigna, hereinafter referred to
<br /> ae Lender.
<br /> W[�r[�tsssc�Tx: That the said Borrower for and in consideration of the aum of .NINETEEN THOUSAND
<br /> 19 400 00
<br /> FOi7R_HUNDRED AND NO/100--------------.-.-.----------.'.Dol.ars (US$..._ . .....r_.._..�..__...._.......)
<br /> . .... - -..._...._.......... ...
<br /> paid by said Lender, dces hereby mortgage, grant and convey to �,ender, its succeaeors and assiqns; the
<br /> foilowing deacribed property located in the County of ..._........Hal , State of Nebraska:
<br /> 7sot Fourteen (l�+), Sock Two (2), in Knickrehm �ddition, an Addition
<br /> to the City of Grand Island, Ha11 County, Nebraske.
<br /> TOGETHEY R'1tF1 all the improvements now or hereafter erected on the property, and al! easementa,
<br /> rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rightR, and
<br /> water atock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br /> ments and additione thereto, shall be deemed to be and remain a part of the property covered by this
<br /> Mottgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on s l�sehold) are hetein referred to as the "Property".
<br /> Borrower covenants that Borrower is lawfully seised of the eatate hereby conveyed and hea the right
<br /> to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> w�arratzt and defend generally the title to the Property againat all claims and demands, eubject to any
<br /> esaements and restrictions listed in a echedule of exceptione to coverage in any title insurance policy in-
<br /> suring Lender's interest in the Property,or (2) attorney's opinion of title from abetract of titte certified
<br /> by bonded abstracter.
<br /> Paov[ngu ALWAY6, and these preeents are executed and delivered upon the following conditions,agree-
<br /> mente and obligations of the Borrower, to-wit:
<br /> The Borrower agreers to pay to the Lender,or order, the principal eum of . k1xNF,�TE�T..T1i0tISAND_..... -
<br /> ..---FOiJEt HUNDRED AND NO/100------------------------- 9 400 00
<br /> - -- -........................... --- -.._.._._. _.._..._.Dollars (LJS $..._1-� --........_ ___ - )
<br /> _........_._.....__.. .__.._...
<br /> payabie as provided in a note executed and delivered, cuncurrently herewith,the final payment of principal,
<br /> if not sooner paid,on the . ._ _._-_ ls'�-_ day of__.DQcember _ _ _ , L9c_20�6
<br /> UNIFOQA( CovEHwN�[Ys. Borrower and I.ender covenant and agree as followti:
<br /> 1. P�aym�nt of P:iacipal�d Iatenst. Borrower shall promptly pay when due the principal of and in-
<br /> ma
<br /> terest on the indebtedness evidenced by the Note, prepayment and late charges as pmvided in the Note,
<br /> and the principal of and interest on any Future Advances secured by this Mort.gage.
<br /> 2. Fuods for Taxes mid Iasuraacs. Subjcct to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> rower ahall pay to Lender on tl�e day monthly installments of principal and interest are payable under the
<br /> Note, until the Note is paid in full,a aum (herein "Funds") eyual to one-twelfth of the yearly taxes and
<br /> aeaees:nents wfiich rasy attain priority over thie Mortgage, and ground rents on the Property, if any plus
<br /> one-twelfth of yearly ptemium inatallments for hazard insurance, plus one-twelfth of yuatly premium in-
<br /> etatlmente for mort.RaQe ineurance, if any, all ar+ reasonahly r;ctimated initisllv and from time tn time by
<br /> Lender on the baais of axeeesmenta and bille and reasonable estimatec thereof,Lender ahall apply the Funds
<br /> to pay eaid t�az�,aeeeesments,insurance premiums and Kround renta. Lender ehall make no charge for so
<br /> holdies and applying the Funds or verifying and compiling said asseaRments and bille. The Lender shall
<br /> g�ve to ti�e Bvrmwer, without charge, aa annua!accounting of the Funds showing credits and debits to the
<br /> Fuada aod the putpose for whicl�each debit to the Fur�ds waei made. The Funda are pledged as additional
<br /> security for the eume eecured by thia Mortgage. The Borrower aqrees that the Funds may be held by the
<br /> Lender aad�ingted with ot6er fuada and the Leader's own funds and the Lender may pay such items
<br /> teom ite own tunds and the Lender cluli not be liable for interest or dividends on such Fundc+. � .�:�
<br /> � If tbe aeaouat of tl�e Fued�heJd by Iw�der,together with the tuture monthly inatallnaents of Funde
<br /> P�]►ab{e P�rior bo tLe dne dates of tues,a�resamenLs, inaurance premiums and ground rente, ehall ezceed a.
<br /> tbe am�o+r�t e�e�uieed topa y rrid tasea,ws�xnts,ineurance premiume and ground rents as they fall due, ,�
<br /> w�esoer��1 6e, at Borrwver's eittfer proaf lyre�a id to f3o�avwer or ce�eclited to [iorrower on
<br /> ed
<br /> meiaU�Iy iseta2�nntr �at Futxi�. I[�amount of ti�e�unds heid by Lender shall�uL i�e�;uffi�ient tu Nuy
<br /> t+se�. a�e�e�ts. imuraaoe p�emiums and gnouad nenb as tlr+y fall due, Borrower shall pay to Lender
<br /> aty aasoust moer�tey to make up t6e deQc�esicy�vitl�in thirty days after notice from Lender to Borrnwer -_
<br /> ■equsd�lt payanest tl�ereof, or Beeeower ehall, by an i�cY+eane in mo»thly inKtallmentx of Funds requir�.
<br /> �'eO�Y tl�e ds�+cy within the Fund s000�mtins period.
<br /> LTpoo payment in full of all rume secured by thia Mort�+age,Lender si�sll apph� Funda held as a crc�dit
<br /> a�ittist a11 eume due.
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