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<br /> DtJE ON SALE
<br /> 'OPTIOiVAL FUTURE ADVANCES
<br /> c�� SAVINGS FUN�
<br /> � ���/�� .FORM No.720 � . . �. .. .
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<br /> � _ Loan Number_31492___-_19�e"_'_B�_7�h
<br /> ' ��'— f 1 Q t5'��1 ' M C� Fa T G R G E _
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<br /> ` THIS MORTGAGE, made and executed this ..... �_j.'..:..:._.._. . day of._�c:�!e_�............. . A.D.,
<br /> t, 19_.:7..Z..,between the Mortgagor,'.:..Michael_� Pitcher:.aad..Audre�p M Eit.che�; �usban&�ac�d--caife, i
<br /> ....�bintl�r_had..each..in:_their_:�an..right .....:,•...............•----�----....... ..... ----------------•-...-�----------..._...----
<br /> ` of ..'.�x�1�,Ld..Isl.ansi.-----.---., County of.::,.Ha1L.......:... ..._.....,State of.EJehraska�------->hereinafter raferred
<br /> to as'the Borrower, and the Mortgagee, FIRST FEDERAL SAVYNGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its seecessurs and assigns, hereinafter referred to
<br /> as I,ender.
<br /> WI Th t the s g Borrower for and in consideration of the sum of_. ..:.. ........ _... __
<br /> ,; �1.A1'���S�SAPID t�ND N0��00 - ---------- i --
<br /> . ...... .. ..:..... ......�- ------.:., _ ............ .."Dol ars (US$...30,_000..00- --�--�----)
<br /> ...... ..... .... . ...... .._. �
<br /> paid by said Lender, does hereby mortgage, grant and c.onvey to Lender, its successors and assigns; the
<br /> following described property located in the County of .................Na1l-............__.., State of Nebraska: '
<br /> `I.ot Sixteen (16), Imperial ViTlage Third Subdivision, an Addition to the
<br /> City of Grand Island, Hall County, Nebraska.
<br /> TocETxEx with ali the improvements now or hereafter erected on the property, and all easements,
<br /> rights, appurtenances, rents, royalties, mineral, oii and gas rights and profits, water, water rights, and
<br /> water stock,and all fixtures now or hereaiter attacheu f:o the properiy, all oi which, including replace-
<br /> ments and additions thereto,shall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> T3orrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> to rnortgage,grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warr$nt and defend generally the title to the Property against all claims and demands, subject to any
<br /> easements and restrictione 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 frorn abstract of title certified
<br /> by bonded abstracter.
<br /> T'aovinEn A[.wnYs, and these presents are executed and delivered upon the Following conditions,agree-
<br /> ments;and obligations o# the Borrower, to-wit: '
<br /> TheBormwer agrees to pay to the Lender,or order, the principal sum of _......._._...... ......................._.
<br /> , THIRTY THOUSAND APID NO/100---------------------.-----.}�ollars (US $3.O.QQ9...QQ........ )
<br /> ..-•-•- --.....-- --------�-------�•---•�--•----�------�--•-�--- -...__...._
<br /> . _. ... ........
<br /> { payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> w if not sooner paid,on the ---...... ' lst -. - day of---.---October... ...........---.,xp9.29_06
<br /> UxTFoamt CovEtawxzs. Borrower and Lender covenant and agree as follows:
<br /> L Payment of Priacipal and Interest. Borrower shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Not�,prepayment and late charges as provided in the Note,
<br /> and the principaP of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> mwer 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 plus
<br /> one-twelfth of yeariy premium installments for hazard insurance, �lus one-twelfth of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimaked initiallv and fmm time to time by
<br /> � Lender on the basi�of a�sesGments and hills and reasonsble estin�ates thereof, Lender sl;all appIS�tY:e Funds
<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�aid assessments and biils. 'i'he Lender shall
<br /> give'to the Borrower; without charge,an annuai accounting of the Fund�showing credits and debits to the
<br /> �unds 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 Fnnds may be held by the „� ,
<br /> Lender and commingled with other funds and the Lender's own funds and the Lend'er may pay such items y
<br /> from its own funds and the Lender shall not be liable for interest or dividends on such Funds. � ,���
<br /> If the amount of t�e Funds held by Lender,together with the #uture monthiy installments of Funds � ;!°��m
<br /> � payable prior to the due dates of taxes,assessments, insurance premiums and ground rents, shmll exceed ^'� �
<br /> the amount reqwred'to pay said taxes,assessments;insurance premiums and ground rents as they#alI due, �,
<br /> such excesa shali be;at Boz�ower's option.either promotiv repaid to Borrower or credited to$�rrower on �•� '�
<br /> rnonthly installrnents of Funds. If the amount of the Funds held bS Lender shall not be sufficient to pay '"�`
<br /> Cxxes,=assessments, insurance preuuums and ground rents as they fall due, Boaower shall pa,y to Lender
<br /> any amount'necessary;to make up the deficiency within thirty days after notice from Lender to Borrower ""-W
<br /> , requesting payment thereof, or Bormwer shall, by an increase in monthly installments of Funds required,
<br /> repay the deficiency v�nthin the Fun�l �cro�anting period.
<br /> Upon payment in full of all sums secured by.this Mortgage,I.ender shall apply Funds held as a credit
<br /> � ; against all sums due. �
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