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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> FIR� OPTIONAL FUTUFcE ADVANCES
<br /> �pAL SAVINGS FUND
<br /> . R� �. �FORm No.�720 � � �
<br /> �NC�-N loan Number___ 34646 _-_ 199 _-_ 1_
<br /> �. . . . . . . . , . . . . � . TYOe Brdn<h .
<br /> =`' .✓,'�,(]5�8� ' iVi p R T G q G E
<br /> , � THIS MORTGAGE, mac3e and executed this ..:..._. 'z�..:. ..::..... day of ,.:-SC,P..�".` '�`".::.........._.. A.D., '
<br /> ` 19:_�.�.,between the Mortgagor,._:Dale.L_:__Grams...an:d..7,u.Q],J�a--.�,_..Gx.atns,--laush;�nd..and..wif-e,----.----
<br /> ' �ointly and each__in:_their_.own;_rights_._.,_.___:,__.__
<br /> ........:............�-------�--.._....-- ---•-�-- -..._--....._
<br /> of ._..:�oniphan ,.... __;._,� County of, .:..___..Hall_.__..._._,State of_..._.Neb.��:sk�.....,hereinafter referred
<br /> to as the Borrower, and the Mortgagee, FIRST FEDEftAL SAVINGS AND LOAN ASSACIATION OF
<br /> LINC�LN, 1235 "N" Street, Lincoln, Nebraska 65501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> � Wi�xEsssTx: That the said Borrower for and in consideration of the sum of.T�NTY TWO_.THOUSAIJD ;
<br /> AND NO 10�----------------------------------------.":'.Dol:ars (US$.22�000 _00.--. _..------��-�
<br /> � �---•----...-�--�.................. .. ... ................:..................:.. .
<br /> % paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the '
<br /> � following described property Iocated in the County of Hall . , ., State of Nebraska:
<br /> That part of Lot Eleven (11) of the County Subdivision of a part of the South Half
<br /> of Section Five (5), in Township Nine (9) North, Range Nine (9), West of the 6th
<br /> � P.M., in HalL County, Nebraska, more particvlarly described as follows: Beginning
<br /> �
<br /> ? at a point l25 feet South of the Northeast corner of said Lot Eleven (11), and
<br /> � f running thence West, at right angles, with the East line of said Lot Eleven (11),
<br /> 105�' feet; thence South, at right angles, 60 feet; thence East, at right angles,
<br /> � ' 10 2 feet to the East line of said Lot Eleven (11); thence N�rth, along said East
<br /> line, 60 feet to the place of beginning, in Hall County, Nebraska.
<br /> � TocETxEa with all the improvements now or hereafter erected on the property, and all easements,
<br /> s rights, appurtenances, ren�s, 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 /> 1,. 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 �vill
<br /> warrant and defend generally the title to the Property against all claims and demands, subject to any
<br /> easements and restiictions 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 o£ title certified
<br /> i� by bonded abstracter.
<br /> jPBovIDEn ALwnvs, and these presents are executed and delivered upon the following conditions,agree-
<br /> 3 ments and obligations of the Borrower, to-wit:
<br /> ` y
<br /> The Borrower agrees to pay to the Lender, or order, the principal sum of �.ENTX_TFIO..THQUS�ISD_.AD7D
<br /> ^ ...DJQI.�QQ--c-r.---------_------------------r.-.----.-r..--r.---�ollars (US a.- -22_,.QQD..D-4-- -- -----�
<br /> payable as provided in a note executed and delivered,concurrently herewith, the fina]payment of principal,
<br /> ' � if not sooner paid,on the ---_--.--.--Z.at--..---- day of...__Qct.ob�r.............._.....----, 19_�2....
<br /> L7NisoeM Cov�xnx'rs. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and 7nterest. Borrower shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Note,�repayment and late charges as provided in the Noi:e,
<br /> and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> Z. 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 ofprincipal 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 an,y plus
<br /> one-twElfth of yearly premium installments far h�zard insurance, plus one-twelfth of yeaxly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated init.iail,y and from time to time bv
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br /> to pay said t�xes, assessments, insurance premiums and ;round rents. Lender shall make no charge for so
<br /> holding and applying the �'unds or verifying aud cumpiling sai3 assessments and bill�. The Lend�r shalt
<br /> give to the Borrower, 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 /> securitv for the snms secured by this Mortgage. The Borrower agrees that the'Funds may be helc� by the
<br /> Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items „�, w.-„
<br /> from irs own funds and the i,ender shall not be liable foT interest or dividends on such Funds.
<br /> If the amount of the Eands held by Lender,together with the future monthly installments of Funds '�'�e M
<br /> � payable prior'to the due dates of taxes,assessments, insurance premiums and ground rent,�, shall'exceed . >".
<br /> the amount required to pay said taxes,assessments,insurance premiums and ground rents as they fall due, "4 �`",�,
<br /> such eacess shall be,at Borrower's optioh;either promptly repaid to Borrower or credited to Borrower on � �''�
<br /> + monthly instaliments of Funds. If the aznount of the Funds held by Lender shall not be suffi�ient to pay ° ;
<br /> taxes, asces�ments, insuranze'premivms anc3 gz'ound rents as they fall due, Bosmwer sha�l pay to Lender " �
<br /> ` an,V aznount ne.^:esr,ary to make uQ the deficiency within thirtv days after notice from Lender tn Borrower -: "
<br /> requesti�g payment thereof, or Borrower shall,�by an'increase in monthly instalIments of Funds required,
<br /> ` r��ay the deficiency within the Fund'accounting period.
<br /> Upon pa,yment in full of al] sams secured by thiF Mortgage,T.rnr3er shalt apnly FiindG hel�i ac a credit
<br /> against all sums due.
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