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<br /> � �THIS MORTGAGE is made,this�dzy oP� SB�1'BmI'�Pr , 19_�_,between tbe Mortaaaor . � � � �
<br /> � . � � � �and . � , whose address is � � � � �
<br /> . � S7 tp5��� 9 ' � � (herein �
<br /> "Borrower"), and the Morl a e, PLYMOUTH.MORTGAGE�SERVICE CO. a Delaware corporation, with offices at�_NOrtM(�G�{c �
<br /> jZri�re, Suite i01a G�olorado$pnngsl Colorado 8090� �ne.-ei� "Lender"�.
<br /> (� Whereas, Borrower and Lender have executed a Construction loan.Agreement of even date�(herein °Agreement") under �
<br /> , I� � ` .which Lendar has made to Borr wer�a��loan in.�the prfn=ipal amount of��}{��J']�_�X THnI JSAN� �F�l1R . .
<br /> HUNDRED AND No�OQs-------- - ^-Dollars ; 6' 9 (PLoan AmounY') for the express
<br /> "x���. ����purpose�of performing:certain�work'on the.��mortgaged'�premisas�descriEaed below; and �� ". ' . . � � . . . +-� �'.'
<br /> � � Whereas, in��coreneclion��with ihe':Agreement.and�.pursuant ro�its�.terms, Borrower�has�executed a Note �(hereinl°Note")
<br /> -�of even�date fn the�Loan Amoun[payable to ihe Lender�whereby:ihe�Borrower�obllgated�itself to pay�2o�the L.ender tbe�. � � ��
<br /> ��.zmounts.��so advancad, plus-interest.as.therein stated.as foll wr.��On fr ay.of � ���.Qn�i� � � � � � 19],fjand � �
<br /> ��on the flrst day of,��each.succeeding month thereafter u�unHt (�et er����I��� i terest on tbe daily balances � �
<br /> �ofthe loan Amount�outstanding {amoun}s d(sbursed)�during the.prior manth;��ano-chereaker�on � ��. � � ' � � �
<br /> <��Cf'o�]e1' I� �I�I7H ��a�.tina�payment in an artaunt equal.to the sum of the tollowing: outstanding��balance�of�the � �
<br /> �, �loan Amount, �nterest on the daiiy balances o(.tbe.Loan.Amount�outstanding�during the prior month and on tha�daity.. �
<br /> i '�. ���balances�-bf the��Loan Amount outstanding during�Lha.period.commencing from�.the date of first.disbursement to �
<br /> Mttrch 1- 1475 .
<br /> a� To secur�o Lender (a).the repayment�of the indebtedness�evidenced by the Note with interest thereon.es set forth �
<br /> �in the Note,any.extensions�.�and/or renewals or�modifications�of such Note, the payment of all olt�er sums with In[eresF�� � .
<br /> ..��lhereon edvanced�In acc9PdanCe herewith to protecl the.security of this�Mortgage�and the performance�of..the.eovenants � � � �
<br /> ^ ��. and agreements of,�the Borrower herein contained and contained in the Agreement, and (b).the�repayment ofany future � .
<br /> ��advances,::With int¢r45t thereon,. made to Borrower�.by Le�der pursuant to.paragraph�hereof,.herein "FuWre Advances", �
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<br /> Bvrrower�aces hereby mortgage, grarii�,�and convey.to Lender,�fhe fottqwing;a�tscribed properfy towted in the Go��nty
<br /> ; �� af �.��'iG0' � .. ... . and�State of I�eUI'OS�CC7 . � .
<br /> ; ' Lot Eleven (il) oiAmickAcres in a part of Section Two (2), Township Nine (9) North, Range
<br /> Nine (9)West of the Sixth Principal Meridian, liall County, Nebrnska.
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<br /> .. � Together w(ch all.the Improvements now or hereafter erected nn the pruperty and a❑.easements, riyhts, appurtenances, rents,
<br /> : royelties�,`mineral,�oil�and gas rights and profits,�water,.water rights and water stock�, and all�.fixtures now or hereafter atWched �
<br /> � ���to the�,mprtgaged premises, a❑�of which, inc�uding replacements and addltions thereto, shall be�deemed to be��and�remain a part of � �� �
<br /> '.lF�e property�covered by.this Mortgage; and�all pf the�(oregoing, [ogether wl[h saitl property are herein referrad to as the"Property.° .
<br /> � Borrower covenants-that Borrower�is.lawtully seised of the estate hereby cpnveyed and has the righ£to mortgage, grant and � �
<br /> �.convey�the Property�,.that�the��Property Is�unencumbered, and that Borrower.will warrant and defend generalfy tbe tfUe to the �� .
<br /> j Property�against all.claims and demands, subject to any easements and restrictions�approved by Lender in writing. �. . �
<br /> ' �' �� �� UNIFORM COVENANTS,Borrower an�1 Lender covenant and agree as followr. � � � � � �
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<br /> 4 � 1. Payment af Principal and Interest. Borrower shall promptly pay when due the principal oPand interest on the Indebtec!- � � � �
<br /> � ness evidenced by the Note�and late charges as provided in�the Note. � � � � � � �
<br /> � . 2. Funds for�Tazes and Insurance. Subject to Lender's option under Paragraphs 4 and 5 hereof, Borrower shall pay to � ���
<br /> Lender on the day monthly installments of principal and interest are paya47e under the Note,until the Note is paid in full, a sum � �
<br /> (herein-"Funds'7.equal tq one-twelfth of theyearly taxes and assessments which may atIain priority over this Mortgage,plus� � �
<br /> t � one-twelflh o!l�yearly premium�installmenSs for hazard insurance,.all as reasonably estima[ed initially and from time to�time � � �
<br /> . �by Lender on the basis of assessmeqt8 and bills and reasonable es[imates thereof,�l_ender shaU.hold the Funds in ar�acmunt which � �
<br /> �.is lnsured.�by a Federa(orSWte agency.and shall�apply�the�/unds trom satd account to pay saitl taxes,.assessments,,and � � �
<br /> ��.insurancs premiums.. Lender sfiall make�no charge tor so ho�d(ng and applying the Funds,analyzinq said account or verifying � ' � �� � �
<br /> � �� �and compiling said.assessme�ta and blllr.��Borrower and Lender may agrea�ln wriUng at the time of executfon ot thia Mortgege � � � � � � �
<br /> � ��.that interest on the.Funds�shalt be pald�to.Borrower,andvnless such.agreement is made,�.Lendershal!oot be requlred��to pay �
<br /> � ? Borrower�any�interest on the Funds.tender shall�give to Borrower, without charge�,�an annual accounting of the Funds sMwing �
<br /> ? ��credlts and debl[s to the Funds,�inLerest,If any,paid to Borrower on the Funds and the purpose for which each debit to[he Fundc
<br /> i . �.�was made. The�Funds�are pledged as additlonal security for the sums secured hy thls Mortgage. � � � �
<br /> - �� If the amount of Funds held 6y�Lender,toge[her wlth.the future monthly installments of funds�payable prior to lhe due dates of� � � � � �
<br /> � � taxes,assessments,�and insurance premiums shall exceed the amount.required to pay saitl taxes, assessments a�d insurance � � � �
<br /> � � premiums�as thcy�fall due,suth excess�sha11 be.��ni 6orrowar°s opciun���either promptly repaid to.Borrower or credl[ed to . �
<br /> � a.Borrower on monthly�installmeots of funds: If the amount of tfie Funds held by Lender sha1l nut be suf£dent topay,iaxes, .
<br /> �� assessments,and insurance premlums as they fatYdue, Borrawer,shall pay to Lender any amount necessary to�make up,the. � � ' �
<br /> �� �def3�ieney�.withfn 30.daya aher notice��from txntler�to�8orrower r � � � � � � � x
<br /> ^. � : . equestin9 paYment thereoL �. ... . . . . . .
<br /> t � Upon payment ln full of a�l sums secured by tliis Mortgage;Lmder�shall promptfy refurtd m Borrower any Funds held by. � � � � .,
<br /> ' Lender. - .. � . . . . . � . . ,��`
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<br /> ` GM-GEN-�I-75 .. �. � . . . I. � '{� ���
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<br /> � � � � ORICINAL.RETURN TO.PLYMOUTH;�.BORROWERRETAIN COPY �
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