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<br /> IIVDIVIDUAL
<br /> DUE ON SALE
<br /> FlRST OPTIONAL FUTURE ADVANCES
<br /> ��� SAVINGS FIJND
<br /> � FORM NoJ20�
<br /> �'1NC�LN Loan Number__ 34602 _—188 — 1
<br /> � . .. . . . . . . . . . —TYoe-----e�a��h
<br /> 77- O05�36Z MORTGAG E
<br /> z THI3 MORTGAGE, made and executed this ..........�.�c'............._. da of ........ ��
<br /> , y ��...�.............�--------- A-D•�
<br /> 19._�.�._,between the Mortgagor, Johnny_W. .Anderson..and._Theresa._L...Anderson,._husband..and.;c�ife
<br /> " , . :�ointly_and each in their own ri�ht . ---. _... ..---•-- �........ ......... ................
<br /> ----...-•----- ------._..... . ... -�-----�-
<br /> af _ Grand;;Island , County of:..... �11.... ......... ....State ofNebraska.._.__. _,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 I.ender.
<br /> WiTxEssETx: That the said Borrower for and in consideration of the sum of T�� FIt�E_THOUSAND
<br /> EIGHT HUNDRED SEVENTY FIVE AND NO/100.-.------.----.---�o1'.ars (US$_25>875.00--_ -.,-----•--.-)
<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 /> �; The Westerly Fifty-two (52) feet of I,ot Two Hundred Forty-one (2�+1), in West
<br /> Lawn, an Addition to the City of Grand Island, Hall County, Nebraska.
<br /> TOGETHER W1tZ1 all the improvements now or hereafter erected on the property, and all easements, . -
<br /> rights, appurtenances, rents, royalties, mir.eral, 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 /> men�s 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 unencumUered, 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 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 /> PxovinEn ALwaYs, and these presenLs 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 T�I`)TY FIVE THOUSAND
<br /> ........ . ..............
<br /> _EIGEiT 1IfJ��IDRED SEVENTY FIVE AND NO/10�------------ ..._Dollars (US $. 25�875.00 �
<br /> _ ..._...-------�-------�---•-�-----��--•�--�---._.._..-- --��............ ........... .......
<br /> --�
<br /> ` payable as provided in a note executed and delivered, concurrently herewitl�,the final payment of principal,
<br /> , ; if no£sooner paid,on the......_..:lst ...... �av of..-__-October....................... l�c..2006
<br /> UxiFoxnz CovEx.axTs. Borrower and Lender covenant and agree as follows:
<br /> L Payment ot Principal and 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 t.he Note,
<br /> and the principal of and interest on any Future Advances secured by this 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 payable under the
<br /> Note,until the Note is paid in full,a sum (herein "Funds") equal to one-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 mortgag@ insurance, if any; all as reasonably estimated initially and from time to time bY
<br /> Lender on the basis of assessments and Uills and reasonable estimates thereof, Lender shall apply the Funds
<br /> to gay said taxes,assessments,insurance premiums and ground rents. Lender shall make no charge for so
<br /> holding and applying the Funds or verifying and compiling said assessmenCs and bills. 'I'he L.ender shal(
<br /> give to the F3orrower, 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 b,y the
<br /> Lender and commingled with other funds ancl the Lender'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 /> If the ttmount of the Funds held by Lender,together with the future monthly installments of Funds i4:� :'
<br /> � paya6le prior to the due dates of taxes, assessments, insurance premiums and ground ren�s, shall exceed � ;. ,
<br /> the amount required to pay said taues,assessments,msurance premiums and ground rents as they fall due, r�
<br /> t such escess shall be, at Borrower's option,either promptly repaid to Borrower or creditPd to Borrower on � !�.''
<br /> monthly insfiallments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br /> taxes, assessments, iasurance premiums anid ground rents as they fall due, Borrower shall pay to Lender
<br />�p any amount necessary to xnake up the defieiencv within thirty days after notice from Lender to Bormwer
<br /> zQqu�sting payment thercaf, or Borra:�er shall, Ly s�ti increa�e in inoiithly in�i.allmeni;s of Fund�reyuired,
<br /> repay the deficiency within the Fund accounting'period.
<br /> Upon payment in full of a�Tsums secured by this Mortgage,Lender shall apply Funds held as a credit
<br />� against all sur_is aue. ,
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