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„�',.. . � ' R�:S.�� � 4
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<br /> �� . . �
<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> �RS'�' OPTIONAL FUTURE ADVANCES
<br /> �� SAVINGS FUND
<br /> "� � FORM N0.720
<br /> ' 1'1��� Loan Number__ 34632 —_ 188 _-__ 1 _
<br /> .. . . . . . ---_—_ TYO¢ BrdnCh
<br /> r
<br /> 77 O0535!� M O' R T G A G E
<br /> � THIS MORTGAGE, made and executed this ....: ��_... .._.:. day of .�.,..:.:e�.��!!7t��` ...:.. A.D.,
<br /> 19:.7.7.___, between the Mortgagor, _Danny...Mitchell>...a._single..�.e=son..anci_SCimb�e=ly..Iinlmasr..a.single
<br /> '' pnxson,---3ointl�:.and..sav.ezally.._aad..eaah_.in...thear--nran--raght>----------------•---•.-
<br /> --........... .................
<br /> ; of :.....Gran.d..Isl.ansl...:...., County of .... .......Ha11........... ..State of...Nebraska..._..,hereinafter referred
<br /> to as the 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 Lenden
<br /> r WrxxEssETx: That the said Borrower #or and in consideration of the sum of__.T..�ENTY THOUSAND__
<br /> ; TG70„HUNDRED.FIFTY..AND.NOf 100-------------------------Dol:ars (US$.---20_ 250-.OQ.- ••- --.----)
<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 /> A Lot Eight (8), B1ock One (1), Meves First Addition
<br /> to the City of' Grand Island, Hall County, Nebraska.
<br /> � -/� 'TocETxEs 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 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 restrictioas 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 /> Pxovin�v Atwnvs, and these presents are executed and delivered upon the following conditions,agree-
<br /> � ments and obligations of the Bormwer, to-wit: �
<br /> y The Borrower agrees to pay to the Lender,or order, the principal sum of ."�?'ENTY,.THOiJSAND,_TWO__...
<br /> � HUNIlRED__�IETY...ANA..�IQ/_d9.0---r----.----c------------r--�ollars (US $....20_,2.SQ..9Q-- --------)
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> � if not sooner paid,on the_....first,___.._,_ day of...._...OctoSer.. .................. 1g2QQ�
<br /> UrriFostvi CovstvnxTs. Borrower and Lender covenant and agree as follows:
<br /> ' 1. Payment of Principal�d Interest. Borrower shall promptly pay when due the principal of and in-
<br /> ! terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br /> and the principal of and interest on any Future Advances secured by this Mortga�e.
<br /> 2. Funds Eor Taxes and Insurmzce. 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 payable under tlie
<br /> Note, until the Note is paid in full, a sum (herein "Funds") equal to mte-twelfth of the yearly taxes and
<br /> assessments which may attain priority over this Mortgage, and ground rents on the Property, if any pius
<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 by
<br /> Lender on the basis of assessments and bills and reasonable estimates theceof, I,ender shall appl,y the Funcls
<br /> to pay said taxes, assessments,insurance premiums and ground rents. Lender shall make no charge for so
<br /> holding and apply�ing the Funds or verifying and compiling said assessments and bills. The Lender shall
<br /> gice to the Borrower, without charge,an annual accounting of the Funds sho�ving credit;s and debiis io iiie
<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 /> Lender and commingled with other funds and the Lencler's own funds and the Lender may pay such items
<br /> from its own funds and the Lender shall not be liable for interest or dividends on such Funds. *�� '.
<br /> 'z
<br /> If the amount of the Funds held by Lender,together with t.he future monthly installments af Funds � 'x '
<br /> payable prior to the due dates of tases,assessments: insurance premiums and ground rents, shall exceed � �.^
<br /> � the amount required to pay said taxes,assessments,insurance premiums and ground rents as they fall due, ;
<br /> such excess shall be, at$orrower's option; either pmmptly repaid to Borrower or credited to Borrower on ;.� .
<br /> monthly installments of Funds. I# the amount of the Funds held by Lender shall not be sufi'icient to pay
<br /> taaies; assessments, insurance premiums and ground rents as they fall due, Bormwer shall pay to Lender
<br /> any amount r.ecessary to make up the de&ciency within thirty days after notice from Lender to $orrower
<br />� requesting pavinent thereof, or R�rrowpr shall, by an incresse in monthly installments of Fuuds required, „�,
<br /> repay the deficiency�vithi^'the Fi:.Zd aacaunting period.
<br /> Upon payment in fuli of all sums secured bv this Mortgage,Lender shall apply Funds held as a credit
<br /> .
<br /> a�ainst all sums due. .
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