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<br /> � I►VDI\/IDUAL
<br /> DUE ON SALE
<br /> �R�' OPTIONAL FUTURE ADYANCES
<br /> �pp■ SAVINGS FUND
<br /> . ���0� .. FORM N0.720 � . ,.:
<br /> Loan Number__34630___-_188__"__.,1_
<br /> � . . TYPe Brunch
<br /> r �7., 00556�
<br /> : M O R T G A G E
<br /> ' THIS MORTGAGE,made and executed th�s �l 3 ....._._. . day of_.�:�:fi 3.a.�,.�:e.r A.D.,
<br /> ' 19_..22._.,between the Mortgagor,_:_,P.aul E .Hammon_.and.Kay J. Hammonr hvsband:and_caife�_.�ointly
<br /> and each in their own right:,
<br /> . ..-----.. ---------------- - -------- ---------------�-� -- -- .......-- --�-�----•-------�---------------._.._...
<br /> of .:....Grand:Island , County of..............Hall State of .,.Nebraska hereinafter referred
<br /> , ....................� ----�--�--�
<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 Lender.
<br /> WixxEssETx: That the said Borrower for and in consideration of the sum of�7�Hx�N_.�iQIISBZ�iD,_
<br /> t'e�IA..NQ/.�Qa-e:-.-.----.---------------.---er.-e---r.r.--------Dol:ars (US$-..1.$>QQO...QQ_.....,.....-- -�--�
<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 /> ' Lot 4, of the Cou.nty Subdivision of the S2SE,i—, of Section 16, Township 11 North, Range 9 West of the
<br /> i 6th P.M., Hall County, Nebraska, except that part of said Lot 4, deeded to the City of Grand Island, ,-
<br /> � which is recorded in Book �6, of Deeds at Page 601, Records of Hall County, Nebraska and also, Part
<br /> ' of I,ot 5, County Subdivis'on of the S2SE,�—� of Section 16, Township 11 North, Range 9 West of the 6th
<br /> P.M., more particularly'described as follows: Cos�encing at the Northwest Corner of said Lot 5,
<br /> running thence in a Southerly direction along the Westerly line of said Lot, 40 feet; thence at
<br /> Right angles in an Easterly direction and parallel with the Northerly line of said Lot, �-t-2 feet;
<br /> thence at Right an�les in a Northerly direction and para�lel with the Westerly line of said Lot,
<br /> , �0 fe�t to e No t�ier�y� li e of a'd I, t� thence along the Northerly line of said Lot in a Westerly '
<br /> irec ion, �Fn,��a Q�it`i�1�11F�°�'in��o��'�� 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 /> ` Bormwer covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> ;
<br /> to mortgage, grant and convey the Property, t.hat the Property is unencumbered, and that Bonower 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 oi 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 /> PftOVIDED ALWAYS� and these presents are executed and delivered upon the following conditions,agree- �
<br /> ments and obligations of the $orrower, to-wit:
<br /> i~
<br /> J' The Borrower agrees to pay to the Lender, or order, the principal sum of _..�I.(a�I.T.��I3..T�EiQUS.AND._AND ;
<br /> ` _�LQ/•1DD-------r.----r_----r.----r.------r-------c-------Dollars (US $....18_..00Q..00...............--�
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> � if not sooner paid,on the...__.lst ............. day o} .,___.._October,.... , �c _2002
<br /> UxiaoaM CovExAxTs. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of 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 the Note,
<br /> and the princinal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds for Taxes snd Insur�ce. 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 fuil, a sum (herein "Funds") equal to one-twelfth of the yeariy 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-tweifth of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated initiall,y and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lender shall applg the Funds
<br /> to pay said'taxes, assesaments,insurance premiums and grouncl rents. Lender shall make no charge for so
<br /> holding and applying the Funds or verifymg and compiling said assessments and bills. The Lender shall
<br /> ' give to t.he Bormwer, without charae,An Annual accountsng of'_he Fun�s sho�;•ing credits and 3ebits 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 r
<br /> ' Lender and commingled with other funds and the Lender's own funds and the Lender may pay such iterns
<br /> from its own funds and the Lender shail not be liable for interest or dividends on such Funds. , � -. , �"�
<br /> ; � ,: �:� <
<br /> If�the amount of the Funds held by�Lender,together with the future�monthly installments of Funds � ' ���"
<br /> � payable prior to the due dates o.f taxes, assessments, insvrance premiums and ground rents, shaA exceed � ?�� .-
<br /> r� the amount required topa y said tages,assessments, insurance premiums and ground rents as they fall due, ����-
<br /> l:; sucb excess sball be, at Borrower's option,either promptly repaid to norrower ar credited to$ormwer on ,�;
<br /> monthly installments of Funds. If the amount of the Funds held by Lender shail not be sufficient to pay ;,. ,
<br /> taxes, assessments, insurance premiums and 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 Txnder to Borrower
<br /> . _
<br /> - • requesting payment thereof, or Borrower shall, by an inerease in monthlv instal]mentg of Funds reqairc:d, -,�
<br /> : � repay the deficiency witfun the Fund accounting period. �
<br /> Upon payment in full of ail suzns secured by tYus Mortgage,Lender shail apply Funds heid as a credii.
<br /> against all sume due. ,
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