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<br /> INDIVIDUAL
<br /> DU� ON SALE
<br /> �� OPTIONAL FUTURE A�VANCES
<br /> � SAVINGS FUND
<br /> � FORM No.720 -_-
<br /> � Loan Number__35089__ 188__-: 1
<br /> *�oe -a.�.,��.
<br /> 77_ UU7127 MO RTGAGE
<br /> THI3 MORTGAGE, made and executed this.__ �"_.... _ day of .. .��'�^�"•'�`�`r_ _ - A.D.,
<br /> 19.�1?. . betweentheMortgagor .Arnold L. Schultz and Ruby_C. Schultz,,husband an3 wife_,
<br /> �oint�y and each in their own ri,ght
<br /> .. .. .._.._ . _.. ___. __. _..... __ _.._...
<br /> of_.Grand Island , CountY of _ ..Hall ,State of 2`(ebraska ._ ,hereinafter referred
<br /> _ _ __
<br /> to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 6A501,ite succeatiors and a.si�ns, hereinafter referred to
<br /> as Lender.
<br /> WITNESSETH: T}18C t}1B said Borrower for and in consideration of t�he sum of TWENTY _FOUR THOUSAND
<br /> FIVE HUNDRED AND NU/100------------------------------DoL'ars (US$-2.4,500.00. _. _)
<br /> ___ . ___.... ._..____. _.. . _ _ ___ _ _. _ _. __ __ __
<br /> paid by eaid Lender, does hereby mortgage, qrant and convey to Lender, its tiuccessorr, and assigns; the
<br /> following deacribed property located in the County of . ... _Hall ___ _ , State of Nebraska:
<br /> The North Four Hundred Ninety-three (N 493) feet of Lot Twenty-three (23)
<br /> and the North Four Hundred Ninety-three (rt 493) feet of the East• Half
<br /> (E�) of Lot Twenty-four (24), of "Sass Subdivision," located on part of the
<br /> Northeast �,uarter of the Northeast Quarter (NE,�—� NE,—i,) of Sectlon 14,
<br /> Township 11 North, Range 9 West of the 6th Y.M., Hall Co�ty, Nebraska.
<br /> TO[:ETHE6 W1Y,F1 all the improvements now or herea{ter erected on the pmperty, and all ea�ement�:,
<br /> righta, appurtenances, rents, royalties, mineral, oil and gas righta and profiLti, water, water rights, and
<br /> water stock, and all fistures now or hereafter attached to the pmperty, all of which, including replace-
<br /> ments and additions thereto,shall be deemed to be and remain a part of the property covered by thie
<br /> Mortgage; and all of the foregoing, together with said property (or the leatiehold estate in the event. this
<br /> Mortgage is on a lea�ehold) are herein referred to as the "Property".
<br /> Borrower covenants that Borrower is lawfully seiaed of the e�;tate hereby conveyed and ha�; the right
<br /> to mortgege, grant and convey the Property, that the Propertv i�; unencutnbered, and that Borrower will
<br /> warrant and defend generelty the title to the Property a�ainst all claimti and demands, subject to aay
<br /> easements and ree;trictione listed in a schedule of exceptiona to coverage in any title in�;urance policy in-
<br /> suring Lender'�s interest in the Property,or (2) attorney'H opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> PBOVIDED ALWAYS, and these presents are executed and delivered u�wn the following conditions,agreee-
<br /> ments and obligations of the Borrower, to-wit:
<br /> The Bortower agrees to pay to the Lender, or order, the principal sum of TWENTY. FOUR �t�0.���Tp_
<br /> �IY.�_k�UNDRED ... NO 100--------------- ----- -------- i 24 500.P4.__ _._ )
<br /> �._... (.. . _Dollare (C S �+ ...
<br /> payable as provided in a note executed and delivered,concurrenkl}•herewith,the final payrnent ot principal,
<br /> if not sooner paid,on the .....__l.s.� --- . . day of _ _ Janvary _ _ . pp� 20Q 3
<br /> Uui�etK CovexwtvTs. Fiorrower and Lender covenant and agree as followF:
<br /> 1. Paym�at of Principd�d IatererL Bormwer shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Note,prepsyment and late charges as provided in the Note,
<br /> and the principal of and intere�st on any Future Advancr�;secured by this Mortgage.
<br /> 2. Fuads for Taxea aad Ia�sur�scs. Subject to Lender's option under para�raphs 4 and ,>heteof, 13or-
<br /> mwer shall pay to Lender on the day monthly installmentH of principal and interest are pa,yable under the
<br /> Note, until the Note ia paid in full,a sum (herein "Funds") equal to one-twelfth of the yearly taxe. and
<br /> assessment.a which may attain priority over this Mortgage, and ground rents on the YroE�ett,y, if any plus
<br /> one-twelfth of yearly premium installments for hazard inKurance, plus one-twelfth of ti�early premium in-
<br /> atallmet�ts for mortgage ineurance, if any, all as reasonably estimatecl initially and from timr to time by
<br /> Lender on the basis of sssessments and bills and n;asonable e,tiniatks thcrcti�f, I.ender shsll apNl�� the-• F'und.�
<br /> to pay eaid taxes,assesements, insurance premiums and gmund rentR. I.rnder shall makr no charKr for �o
<br /> hotditfg and applying the Funds or verifying and compiling xaid as�essments and bills. The I.ender ahall
<br /> give to the Borrower, without charge, an annual accounting of the FundR showing crrdits and debite to the
<br /> Funds aa�d the putpose for which each debit to the Funda wae tnade. The Funde are pledged a� additional
<br /> eecurity for the aums secured by this Mortgage. The Borrower agreer�that the Funda may t� held bY the
<br /> Lender and commingled with other funds and the Lender'a own funds and the Lender mav pay such iteme t
<br /> from its own funds and the Lender shall not be liable fur intereet or dividends on �vuch Funde. �*' �
<br /> �;.
<br /> � If t.he atnount of the Funde heid by Lender,together aith the future monthly inetalLnents of Funde
<br /> paqable p�ior to the d�se dates of tazes, aseeasmenta, iasurattce premiuiae and ground rents, shai! ezceed "��v
<br /> the amount required to pay said t�es,aseeaement�,insurance premiums aad Rrouad rents ae they fall due, �
<br /> isuch etcera alull he, at Aoex�w�er'pn�t� riti�er promptly rey�eid to Rnreriw�rr nr�rwriit+ui fn Rr�rmwpr..n
<br /> . monthly irutsllxnenLs of Funds. If tE�e amount of the FundF held bv I.ender�hali nnt t�e nuffi<•ient tn pa�•
<br /> tuea, aee�menta, inauraece p�remiums aed arouad renta as they fall due, Borrower ahall pey to Lender
<br /> eny amowft neceeeuy to make up the de6rieacy withia thirty days after�mtioe from Lender to �3orrower "
<br /> e'eqnestin8 payment thereoi, oe Boerower st►tll, by ats incresee in monthly in�tallmentF of Funds required.
<br /> repay the deficiency azthin tt�e Fund accounting period.
<br /> Upean payment in full of atl AumR eecured by this Mortgage,Lender shall applv Fundr:held ac:a�•redit
<br /> againat all sums due. �
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