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<br /> INDIVIDUAL -
<br /> DUE ON SALE
<br /> Fl�'r' OPTIONA� FUTURE ADVANCES
<br /> Ccf1c�A■ SAVINGS FUND
<br /> rGVCR/"\6� FORM No.720
<br /> '",��'N Loan Number__34572--- -1$$-- --1--
<br /> ... .. . . iYPc 9ranCh
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<br /> M O R T G A G E
<br /> ;: THIS IvIORTGAGE,made and executed this ......l�th............... day of_.....Se,ptember.____..___,_ A.D.,
<br /> ' t 19._7�__.,between the Mortgagor,....Michael..,7_,._Bennett._and,Wendy:.i�...Bennettx_,husband and_,____.
<br /> " ! __________________wife�,,,,j.ointly._and__each in_ their own right,.,._
<br /> ................. ...- ---...... ....----�--��---------.....---------------
<br /> of_._Grand_.Island__..._... County of. _...Hall,..„_._. ..._..�State of._Nebraska._,. ,hereinafterseferrec� '
<br /> to as the Borrower, and the Mortgagee, FIf?ST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lendea
<br /> i WZTtaEssETx: That the said Borrower for and in consideration of the sum of ...�+'ENTY.SEVEN_
<br /> ' ; ....�iOUSAND AND_NO/I00----_----.-.--------
<br /> ' ---------.----._.Dol:ars (US$.27.,000,00......... .......)
<br /> ... ......... ..
<br /> paid by said Lender, does hereby mortgage, grant and convey to Lender, ii�s successors and assigns; the
<br /> following described property located in the County of _.. .Hall._.____._,_ ___ _._.__.. State of Nebraska:
<br /> ��t�e,e]�y 'i�irty f and One Half (3�F1� feet of Lot S ven (7) in Block One
<br /> Thirty Zl�� in Koenig & Wieb� s Addition to �he City of Grand
<br /> Ssland, Ha11 County, Nebraska.
<br /> Toce•rx�$ with all the improvements no�v 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 lhe leasehold estate in the event this
<br /> Mortgage is on a leasehold) are herein referred to as the "Property",
<br /> Bormwer 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 unencurnbered, and that Borrower will
<br /> warTant 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 ALwnYs, and these presents are executed and delivered unon the followina cor_ditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> �
<br /> ,, The Borrower agrees to pay to the Lender, or order, the principal sum of ...�NTY„SE_y�N..TyQUSA.ND
<br /> = AATn_NRL100----.---------------------------------------Dollars (US $-.27,,000
<br /> . . .. .........---�-�--� --- ..._-�--� -----.... .. .... .00.......... ...:_)
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final paymenC of principal,
<br /> if not sooner paid, on the..._._.1st.--------.day of...._�ctc>ber..:........... .-...._, l�c-2�06
<br /> UxiFoatK Cov�;NANTs. Borrower and Lender covenant and agree as follaws:
<br /> 1. Payment of Principal and interest. Borrower shall p�omptly pay when due the principai 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 principa] of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds for Taxes crnd Insurance. Subject to Lender's option under paragraphs 4 and 5 hereot, 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 ptus
<br /> one-twelfth of yearly premiam installments for hazard insurance, plus one-twelFth of yearly premium in-
<br /> stallments for mortgage insurance, if anv, a1T as reasonably estimated initiall,y and from time to time b,y
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lender shall apply the Funcls
<br /> to pay 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 assessments and bills. The Lender shall
<br /> give to the Borroccer, wit}iout charge, an annual aecounting of the Funds yhowing credits and debits to the
<br /> Funds and the purpose for which each debit to the Funds was macle. The Funcls are pledged as additional
<br /> security for the sums secured by this Mortgage. The Borrvwer agrees that the Funds may be held by the
<br /> � Lender and commingled with other funds and 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 amount of the Funds held by Lender,together with the future monthly installments of Funds N `"
<br /> payable prior to the due dates of taxes,assessments, insurance premiums and ground rents, shall exceed °°
<br /> � J the amount�uired to pay said taxes, asaessments,insurance premiums and ground ren�s as they fall due, �
<br /> i such excess shall he,at Sorrower's'optioa,either pmmptly repaid to Bormwer or credited to Borrower on � ,�4
<br /> monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br /> taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br /> any amovnt ttecessary to malce up the d2ficiency within thirty days after natiue irom Leiider ta Borrower �
<br />� ; requesting pavment therc�f, or Rnrrower shalI, by ar.incr�asc in monthly inst�llment;s of Fur.ds required, ` �
<br /> repay the`deficiency within the Func3 accounting period.
<br /> Upon payment in fuli of all sums secnred by this Mortgage,Lender shall apply Funds held as a credit
<br /> againsY a11 sums due.
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