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STATE OF NEBRASKA
<br /> FHA FORM NO.2143M
<br /> This form is used in connec-
<br /> (Rev.December 1972) tion with mortgages insured .- .+
<br /> MORTGAGE under the one-to four-family
<br /> provisions of the National'
<br /> Housing Act.
<br /> 7610'00 4 6
<br /> THIS MORTGAGE,made and executed this 2P-it of T N U ps"`/ A.D. .
<br /> 1976 by and between Gary Stephens and Rbse M. Stephens sband and wife, each in
<br /> his and her'own 'individual right and as spouse of the other,jointly and:severally
<br /> of the County of Hall ,and State of Nebraska,party of the first part,hereinafter called •
<br /> t' the Mortgagor,and,
<br /> FIRST I'FLERAL`SAVINGS AND LOAN ASSOCIATION OF LINCOLN
<br /> a corporation organized and existing under the laws of The United States
<br /> party of the second part,hereinafter called the Mortgagee.
<br /> WITNESSETH: at the said Mortgagor,for.and in consideration of the sum of`TWENTY THREETHOUSAND,'FIVE
<br /> HUNDRED AND.NO 100 Dgllars,($23,500.00 ),paid by the Mort-
<br /> ' gagee;the receipt of which is hereby acknowledged, has Granted and Sold and by these presents does Grant, Bar-
<br /> gain, Sell. Convey and Confirm unto the Mortgagee, its successors and assigns, forever, the following-described
<br /> real estate,situated in the County of Hall ,and State
<br /> of Nebraska,to wit:
<br /> Lot Seven (7) in Block Seven (7), Boggs& Hill's
<br /> Addition to the City of Grand Island, Hall County,
<br /> Nebraska.
<br /> of the Sixth Principal Meridian,containing in all acres according to Govern- •
<br /> ment survey:
<br /> TO HAVE AND TO HOLD the premises above described,with all the appurtenances thereunto belonging and including
<br /> all heating,plumbing and lighting fixtures and equipment now or hereafter attached to or used in connection with said real estate
<br /> unto the Mortgagee,and to its successors and assigns,forever.The Mortgagor represents to,and covenants with,the Mortga
<br /> gee,that the Mortgagor has good right to sell and convey said premises;that they are free from encumbrance;and that the
<br /> Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever;and the said Mortgagor here-
<br /> by relinquishes all rights of homestead,and all martial rights,either in law or in equity,and all other contingent interests of the
<br /> Mortgagor in and to the above-described premises,the intention being to convey hereby an absolute title,in fee simple,includ-
<br /> ing all rights of homestead,and other rights and interests as aforesaid.
<br /> PROVIDED ALWAYS,and these presents are executed and delivered upon the following conditions,to wit:
<br /> • The Mortgagor agrees to pay to the Mortgagee,or order,the principal sum of TWENTY THREE THOUSAND FIVE
<br /> HUNDRED AND:1,10/100 -Dollars($23,500.00 ),with interest from
<br /> date at the rate of Eight and Three Fourths per centum( 8.75 %)per annum on
<br /> the unpaid balance until paid.The said principal and interest shall be payable at the office of First Federal Savings
<br /> and Loan Association of Lincoln
<br /> in Lincoln ,or at such other place as the holder of
<br /> the note may designate in writing,in monthly installments of One Hundred Eighty Four and 95/100
<br /> Dollars($184.95 ),commending on the first day of
<br /> March ,19 76,and on the first day of each month thereafter until the principal and in-
<br /> terest are fully paid, except that the final payment of principal and interest, if not sooner paid, shall be due and
<br /> payable on the first day of February 2006 ;all according to the terms of a certain promis-
<br /> sory note of even date herewith executed by the said Mortgagor.
<br /> The Mortgagor in order more fully to protect the security of this Mortgage,agrees:
<br /> 1, That he will pay the indebtedness,as hereinbefore provided.Privilege is reserved to pay the debt in whole, or in an
<br /> amount equal to one or more monthly payments on the principal that are next due on the note,on the first day of any month
<br /> prior to maturity:Provided,however,That written notice of an intention to exercise such privilege is given at least thirty(30)
<br /> days prior to prepayment.
<br /> 2. That,together with,and in addition to,the monthly payments of principal and interest payable under the terms of the
<br /> note secured hereby,the Mortgagor will pay to the Mortgagee,on the first day of each month until the said note is fully paid,the
<br /> following sums:
<br /> (a)An amount sufficient to provide the holder hereof with funds to pay the next mortgage insurance premium if this instrument and the note secured hereby -
<br /> are insured,or a monthly charge(in lieuof a mortgage insurance premium)if they are bold by the Secretary of Housing and Urban Development,as fol-
<br /> l •ows:
<br /> 1 a
<br /> L° l 1 �� •t
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