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<br /> INDIVlDURL
<br /> DUE ON SALE
<br /> ��R�' OPTIONAL FUTURE ADVANCES
<br /> t��pA� SAVINGS FUND
<br /> r�v�Rh pORM N0.7'LO
<br /> � L1NC0� Loan Number---34601__— 188__—_e�nc„
<br /> 77„ 0��3�3 MORTGAG E
<br /> ?�. . � .. . � THTC ���R��'._Ar=F��i?'1'��P P.TI�exPcuteri this .......��.:..---- _ dav of .�...� .... . .:. .:.. A.D., _
<br /> _ .... ... _.
<br /> � 19._77...,between the Mortgagor,Kelly Stevens and Alice E..,.Stevens, _hus and and wife,jointZy
<br /> .... . �------..
<br /> :and:each in their own right ---.----.-_----.---_-_----. --.......-- ---.. .. -----.--
<br /> . ---�-�---•-� -- - -..... _..
<br /> of__Grand Island , County of . xall ....__,State of Nebraslca .,hereinafter referred
<br /> �--- - ------�-- ... ._.....
<br /> to as the Borrower, and Lhe 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 /> . , WITNESSETH: TI78t tlle said Bonower for and in consideration of the sum of.T�'?�N?Y.SEVE.N:_THOUSAND
<br /> FOUR HUNDRED FIFTY AND NO/100----------.----------.....Doliars (US$--..27�450..00 ............ .)
<br /> -•�................�----....--�----.. .....-- -... . .. ..
<br /> paid by said Lender, does hereby mortgage, grant and conve to Lender, its successors and assigns; the
<br /> following described property located in the County of ... __.�11.. __.__...... ._..., State of Nebraska:
<br /> The Southerly Fif'teen and Four Tenths (15.�+) feet of Lot Eight-four (84)
<br /> and all of Lot Eight-five (85) in Hawthorne P1ace, an Additian to the City of
<br /> Grand Island, Ha11 Couty, Nebraska.
<br /> �
<br /> Toc�TxE& 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 leasehoid) are herein refened 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 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 /> PROVIDED A[,wAYs, and these presents are executed ancl delivered upon the following conditions,agree- �
<br /> ments and obligations oP the Borrower, to-wit:
<br /> The Borrower agrees to pay to the Lender,or order, the principal sum of .T��_SEVEN.THOUSAI�ID..
<br /> ..FQUR_.HUNDRED.FIETY.AND NO/100--------.-------------_..Dollars (iJSy-.271450.00. ......_.._._)
<br /> payable as}>rovided in a note executed and delivered,concurrenth-herewiCh,the final payrnent of principal,
<br /> if not sooner paid,on the-_.__..1st_........._ day��f ..._Dctober.... _...... ......... 1QXg(,1p2
<br /> UxiFoarvi Cov�;rrnxTs. Borrower and Lender covenant and agree as follow5:
<br /> 1. Pcyment of Principal and Interest. Borrower shall promptly pay �vhen due the principal of and in-
<br /> teresf. on t.he indebtedness evidenced by the Note, prepa,yment and ]ate. charges as F�rovided in the Nota,
<br /> and the principal of and int.erest on any Fut:ure Advances secured Uy t.his bTortgage.
<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 payabl�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 /> aEsessments which niay attain priorilY over this i�Sort,gage, and ground rents on the Property, �f any plus
<br /> one-twelFth of yearly preinium installments for haa.ard insurance, plus one-tw�elfth of yearly premium in-
<br /> stailments for inortgage insurance, if any, all as reasonably estimated initiallv and from time to tirne by
<br /> Lender on the basis of assessments and bills and rea�onable estimates thereof, Lender shall apply the Funds
<br /> to pay said taxes, assessments, insurance premiums and ground rents. 3.ender alYall mal.e no �harge fa:sa
<br /> holding and applyin� the Funds or verifying and coinF�ilin� saicl aGses�mentG and bills. The Lender shall
<br /> give to the Borrower, without charge,an annual accounting of t.he Funds showing cxrdits and debits to the
<br /> Funds and the purpose for which each debit to the Funds was made. The Funds are pled�ed as additional
<br /> security for the sums secured by this D4ortgage. The Borrower agrees t.hat the Funds may be held b}� the
<br /> Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items - �
<br /> " ..
<br /> ' from its own funds and the Lender shall not be liable for iirterest or dividends on such Funds. "°"�' . "''
<br /> If the amount of the Funds heid by Lender,together with the future monthly ixxsi,allments of Funds ,, � �
<br /> ' � payable prior to the due dates of taaces, assessments, insurance premiums and ground rents, shall exceed
<br /> the amount required to pay said taxes,aesessments,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 � r��.
<br /> monthly mstallments of Funds. If the amount o# the I'unds held b,y Lender shall not be suf£icient to pa,y
<br /> taxes, assessments, insurance premiums rind ground rents as they fall due,Borrower shall paY to Lender
<br />� - any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br /> reyue�tirig �ayinenL Lhereof, or Borrower ehall, by an increase in monthly instttiltneni5 oi Funds re��uire3,
<br /> repay the deficiency within the Fund accounting period.
<br /> Upon payment in full of ail sums secured by this Morigage,Lender shall a��plv Funds held as a credit.
<br />� ' � again5t all suui��ue.
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