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�_�:
<br /> I �
<br /> iNorv�ouw� ' -
<br /> DUE ON SALE
<br /> OPTiONAt. FUTURE ADVANC�S
<br /> SAVINGS FUND
<br /> rFoww No.720
<br /> + �w W loan Number__35239 —188 --1
<br /> ��___��T��_�__��___
<br /> Y�C BI�ncM
<br /> 77-U07458 M O R T G A G E
<br /> THIS MORTGAGE, made and executed this _ .... _. .__..___.�� day of�kb+2���.2.-.-._...-.-- A.D.,
<br /> 19.7f...,between the Mortgagor, Fred.A_.,,Wood and Nancy J._,.Wood,� huaband and wife, ,jointly
<br /> and each in their ovn.right,�- -- -- - -- - . .. ' ".-.-.-.
<br /> ........ ...... ..................... _.. ... . . _ .. ._ .
<br /> of . Grand..Island , County of Hall.__ _.. �g��of Nebraska ,hereinafter referred
<br /> to as the Borrower, and Lhe Mortgage�e, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and ac�eigns, hereinafter referred to
<br /> as Lender.
<br /> WiTHt�erx: That the said Borrower (or and in consideration of the sum of ...THIRTY..FOUR._THOUSAND
<br /> k:Q1J�..EiII1�?.KF:I?.. ..'�_.r.N:�..�'��..�..NO/100---.-_-----.-.-.--.--.-.Dol:ars (US�._..34�42.5..00.._.._.. --- )
<br /> peid by eaid Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br /> following deecribed property located in the County of . ._._.�11_..._--__.._.._.__, State of Nebraska:
<br /> Lot Four (4), in Island Acres Number Four (4), being a Replat of Lot
<br /> Seventeen (17), Island Acres, a Subdivision in the C:ty of GrandIsland,
<br /> Hall County, Nebraska.
<br /> TOGBTHER with all the improvementF now or hereafter erected on the property, and all easements,
<br /> righte, appurtenances, rents, royalties, mineral, oil and Ras righte and pi+ofits, water, water righta, and
<br /> water etack, and all fiztures now or hereafter attached to the property, all of which, including repiace-
<br /> mentc and additione thereto,st►all 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 thie
<br /> Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> Borrower covenants that Borrower ia lawfully seised of the estate hereby conveyed and has the right
<br /> to mottgage,grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> w�arrant and defend generally the title to the Property against all claims and demandE, subject to any
<br /> eesements and restrictiona listed in a schedule ot exceptione to coverage in any title insurance policy in-
<br /> suring Lender's intereet in the Property,or (2) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> PQOVIDED ALWAYB� and these presents are executed and delivered upon the following conditions,agree-
<br /> menta and obligations of the Borrower, to-wit:
<br /> The Bo wer �t he�de r, or order, the principal sum of .'�HIIi�Y.FQLIA. THQllSANI�.-.
<br /> FOl)R Hi1�ED 1�Y��AND Bi0/lOD------------ --_Dollars (US $..34,425...00....._.__..._.)
<br /> _...._--- --- _...._...._.._._................._... -- ..._.. _ .. __ _._.._
<br /> payable ae provided in a note executed and delivered,concurrent.ly herewith,the final payment of principai,
<br /> if not aooner paid,on the. �s t.. ___ day of . .. JaA?.].�x3' _ , 20c 2�07
<br /> UN[�osM Cov�N�xrs. Borrower and L.ender covenant and agree a�; foltowF:
<br /> 1. Paymmt oE Priacipat�d Iat�r�st Borrower shall pmmptiv paY when due the principal of and in-
<br /> terest on the indebtednese evidenced b_y the Note, prepayment and late charges as provided in the Note,
<br /> and the principal of and interest on any Future Advancer secured by this Mortgage.
<br /> 2. Fuads br Taace�md Insurm�eo. Subject to Lender's option under paragraphe 4 and :i hereoC, Bor-
<br /> rower shall pay to Lender on the ciay monthly installments of principal and intere�t are payable under the
<br /> Note, unti) the Note is paid in full,a sum (herein "Funds") equal to one-twelfth of the yearly t.axes and
<br /> a�essmentr• which cnay attain priorit,y over this :�lorlgage, and ground renta on the Propezty, if an�� plus
<br /> one-twelfth of yPar(y premium inet�►llmPnta f�r hezerd in�;urnni•r, plu�:onF-twFlfth of ve�arly premium in-
<br /> atallment�for mortgage insurance, if any, all ax reasonably estimated initially and from time to time by
<br /> l.etuler oa the basie of aesessments and bills and reseonable estimatea thereof, Lender ehall appiy t.he Funds
<br /> tn pay aaid twsea,soeeesments, insutence premiutns and qround rents. Lender ehall make no charRe for so
<br /> holdin� aod ap�lyieg the Funds or verifying and cwmpiling said antietument� and bills. The Lender shall
<br /> �ve to the Bors+ower, without charge,an annual ac.�c+c�unting of the Funds showing credits and debits to the
<br /> da ae+d the purpoae for whicl�ench debit to tfie Fund�s was made. The Funds are pledged as additional
<br /> wauaty 6tu tl�e eums�ec�ured by this Mortgage. The Borrower agt+ees that the Funds may be held b,y the . � �
<br /> i
<br /> I�1we aAd aots�mintied with ot7�er fuwds and ti�e Lender'a owea funds and the Lender may pay such items
<br /> hm+ ib own fueds and khe LeaBer�hali twt be liable for interest or dividends on such Funde. �*
<br /> � If tl�e aeaunt oE dre Ptinds 6eld by Leader.to�ether with the future monthly insstallments of Funds
<br /> P�Y�bie p�e+er bo tlfe�nne dater ef tazes,a�redment�,. ineuraace Prsmiums and ground rents, shall excajed � `,
<br /> tl�e�nouwt f+eqnieed t�opa y yid ta�ea, wewe�ewta, in++nranoe geeiniuma and groued rentx ax they fall due,
<br /> rpc�h esce�s� bw.at Baetowiee'r eitbee p�mptly r d tu Botnrwet ur�ra�xlile�l Lu Burruwri' u��
<br /> �h �py�, �+
<br /> iaowfbly ie�tai�meeta et Ptimd� [f t[�e amount of the Funds lreld by I.ender shall not be suf�'icient to pay -
<br /> taw„ are�oaata„ iewnnoe pe�ea�iume aed�d cents as f.�y fali due, Borrower shall pay to Lender `
<br /> �v arreset f�oawey to�ke �q►t1�e�iciewcv w�itl�in thirty davs after notioe from Lender to Aorrower
<br /> reqre�tiqs ye�eet tbeeeo[, ot BoreoNet aMll,�by an incra�ae in afonthly inetallments of Fund�s required.
<br /> �Y t�e y. ee within the FWnd a000imtie� period.
<br /> U�a� payieent ie [�dl of all wau�eeured bY this Mortgsgoe,Lertder shall apply Funds held a�a��redit �
<br /> asairst a{I e�ms due.
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