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<br /> ItVDIVIDUAL
<br /> DUE ON SALE
<br /> �R�T OFTtONAL FUTURE ADYANCES
<br /> �cp�� SAVWGS FUND
<br /> t"CVCRM Fonm No.720
<br /> r L��01-N Loan Number--- 3�9_45__ _T.���_ 81.�_h
<br /> 1';
<br /> ' 7"l-u05225 iVl O R T G A G E
<br /> ; ��HIS MORTGAGE,made and executed this......1�-.+h..-... .. day of ..SGP'�'�M.�r.✓'_.._ ._ A.D:,
<br /> � 19...:..:._. between the Mortgagor,.Arnold L._Thurlow_and, Laura_J,,.Thurlow,._husband,_a�}d w��e.,.
<br /> � �ointjy"and each in their own right ._.,....:.
<br /> ._ ....-----....---------•�-- - -----
<br /> . --�----
<br /> o� Grand Island , County of. ......, Hall _..,_..,State of...Nebraska . _ hereinafter referred
<br /> �---�- .......... ...,
<br /> to as tfie Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N'' Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> WiTx$ss��rx: That the said Borrower for and in consideration of the sum of_.xH�.RTY..F.QIIR.TI3QUSAND
<br /> ; EIGtIT_HUNDRED_AND_NO/100---.----.------.---------cr.r.--c-�ol;ars (US$.._3.4.,8.QQ.09.....:.......:....)
<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 ........Hal_�._.. ................., State of Nebraska:
<br /> I,ot Forty-five (45), Wolfe's Subdivision in the City of Grand Island, Hall County,
<br /> ' � Nebraska.
<br /> �
<br /> ! TocEz'xEa 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 profiLs, 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 ail of the foregoing, together with said property (or the leasehold esi;ate in the event this
<br /> s Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> g Borrower covenants that Borrower is lawfully seised of the estate hereb�� 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 oS 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 /> PaovinEo ALWAYS� and these presents are executed and delivered upon the following conditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> The Borrower agrees to pay to the Lender, or order, the principal sum of ..THIgTY..EDUR__THOIISANII-
<br /> i; .E.IGHx.:HUNDRFt?__�?...N9/..I._04-----r.----r-.--c--.---r.----r.---�ollars (US�-34�SA.Q_OU---..._ ... ._:)
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> ; if not sooner paid,on the....1st---.... ------day of..----.--M?X. ...... ....... ....... 19...48..
<br /> U�ttFoeM CovExnrrTs. Borrower and Lender covenant And agree as follows:
<br /> 1. Payment of Principal mid interest. Borrower shall promptly pay when due the principal of and in- ,
<br /> terest on the indeUtedness evidenced by the Note,prepayment and late charges as provide�l in the Note,
<br /> and the principal of and interest on any Future Advances secured by thia Mortgage.
<br /> 2. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> rower shall pay to Lender on the day monthly installments of principal and interest are payaUle under the
<br /> Note, until'the Note is paid in full,a sum (herein"Funds") equal to one-twelfth of the yearly t.axes and
<br /> assessments which may attain priority over this Mortgage, and ground rents on the Propert.y, if any plus
<br /> one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time Uy
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall a�ply the Funds
<br /> to pay said tlxes;assessments;insurance premiums and ground rents. Lender shall make no charge for so
<br /> holding and applying the Funds or verifying and compiling said sssessments and bills. The Lender �hall
<br /> 1 give to the Borrower, without charge,an annual accounting of the Funds showing credits and debits to the
<br /> Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> security for the sums secured by this Mortgage_ The Borrower agrees that the Funds may be held by the
<br /> i Lender and commin led with other funds and the Lender's own funds and the Lender may pay such items �
<br /> l
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<br /> i from its own funds and the Lender shall not be liable for interest or dividends on such Funds. � - -�,�'. ;,��.,�'
<br /> If the amount of the Funds held by Lender,together with the future monthly installments of Funds t � �
<br /> L, payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shAll exceed ' � �« 4
<br /> the amount required to pay said taxes,assessments,insurance premiums and ground rents as they fali due,
<br /> such excess shall be, at Borrawer's option,either pmmptiy repaid to Borrower or crediY.ed to Borrower on =�'
<br /> monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br />� taxes, assessr_teats, insurance premiums and grauad rent� as they fail due, Borrower chall pay to Lender �
<br /> any amoun£necese.ary to make up the deficiencv within thirt,y da.ys after notice from Lender to Borrower
<br /> requesting payment thereof, or Borrower shalf, by an inerease in monthly installments oY Funds required,
<br /> repay the deficiency within the Fund accounting period; �
<br /> i.lpon pa,yment in full of all sums secured bp-this Mortgage,Lender shall appl,y Funds held as a credit
<br />� � against all sums due. I �
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