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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> �'' OPTIONAL FUTURE ADVANCES
<br /> �� SAVINGS FUND
<br /> �� FowM N0.720
<br /> � Loan Number .. 35406___-___188_
<br /> ,.�. _h.a�;,
<br /> 78��)������� MORTGAGE
<br /> THI$ MORTCAGE, made and ezecuted this �� day of �-�1-u t�,� A.D.,
<br /> ]9 ]� , between the !�1ortgaKor, Lonnle R. Sherlock and Marcia A. Sh�Erlock, hu�bdnd �3nd
<br /> wife, �jointly and. each in_their own right,. _
<br /> _ _ __
<br /> ��} Grand Island , ('ountv of Hall , Statr of Nebrask3 ,herrinafter referred
<br /> to as the Borrower, and the '�furt�a�;eo, FIRST FF,I)F.RAI,SA�'1\C�S AN[) LOAti ASSOC'IATION OF
<br /> LINCOLN, 12:i5 "N" Street, Linculn, Nebraska 6R.iO1, its sucrc�.u,rx and a.,i;;n.�, hereinafter rrferrrd tu
<br /> a� Lender.
<br /> Wt'rNeS�r:��a: That the said Burrc>w•er for and in contiideration of the sum of THIATY THOUSANll
<br /> FOUR HUNDRED AND NO/100-------------------------_____t)ol;xrti (L'S � 30,400.00 �
<br /> paid by said I.ender, doe. hereb} mort�;agr, grant and runvc��� to IA•ni1�-r, it� �uccetisorti and as.iKn.; tht•
<br /> following deticribed propert}� loc�ated in the ('uunly, of Hall , gt�Le of Nehracka:
<br /> Lot Eighteen (18), in Block Two (�) i:i Imperi�al V:11�ge :;ubclS.vis i.on, City
<br /> o£ Grand Isls�nc�, ]Iall County, Nebrrask•3,
<br /> T�x:e�►iee with rill the• improvernent� now� ur hereafter erected on the prupert}•, and all ea.ement�,
<br /> right5, appurtenance�;, rents, ro}-altir�, mineral, uil and Ras ri�;hts and profit�, water, µ•ati•r ri�hts, and
<br /> water atuck, and all fixture�ti now- or herc�afte�r attnched to the propert}�, all o}' which, includinK replace-
<br /> ments and additions thereto, �hall be drrmrd to b�and remain a part of the proprrty cuvered b�� this
<br /> Mottgaqe; and all o[ the Fore�oing, to�;c�thrr with said proE�rrty (ur th�• Iea.Frh�ild rstat<• in the e�°ent thi.
<br /> Mort�age is on a leasehold) are� herrin refrrrc�d to a� the "Proprrty".
<br /> Borrower covenant�s that F3orrower iti law•fully�eised of the Pstate herrh}� c�unveyrd and h�� the ri�ht
<br /> to mortgage, grant and �•onvey the I'ro}�erty, that thr Property iti un�ncumheretl, and that Burrow�er µ�ili
<br /> warrant and defend generally the titlr to the Property �Kainst ail cleirns and dernand�, ,uF�ject to an�
<br /> ea.5ement.�and rrtitriction� IivtN�� in a schedu►e of exceptions t�� covrraKe in an�� titlr• insuran��e �wlic}� in-
<br /> ,uring Lender's interr�t in thr Prupert�•, or 1_'1 attornt�•y's opinion of title fr�.�m abstract of titie certified
<br /> by Iwnded abrtractrr.
<br /> Pauv�uxn ALwwvS, and thetir prrsents aro i�x��cuted and delivrred uE�on the folluwing conditions,a{;ree-
<br /> ments and ublikatiune uf' the 13urrower, to-N�it:
<br /> The Borruwr a rcr�ti tu pa�� tu the Ixnder, nr ordrr, thr prin�•ipal ,um of THIRTY 'PHOL`SAND FOUR
<br /> HUNDRED AND NOf10�----------------------------------- 30,400.00 �
<br /> - I)ollars �l'F �
<br /> pa�able as providi•d in a notr e•xr��ut��d and eirlivi•red,cuncurr��ntlt• ht•rf•with, the� final pa�cnrnt uf Eirinci��al.
<br /> if rtot .cx�ne�r paid,on the l.st dei� uf <7:nu,ry , �.: ?O(�;,
<br /> L'NIFY)NA1 ��UVF:NAN'1'ti, BOI'rOK'f'I'8f1(I l,end�•r c•ovenanr and ci�;rr��av f�illuws�
<br /> 1. Payment ot Principal and Interest 13ortr�wrr shall prumNll� ptiy when du�- t he principal �if and in-
<br /> terrnt on the indrbtednehs rvidenced hy th�- Note,Enepa��nx�nt anri lut�• cht�rg�•;: a, E�ri�vi�i��d in•thr• '�oter,
<br /> and thr principril of�nd int.ere,t c�n an�- Futur�� Advancr. .��currcl !�� thi.� �1��rt�;ake.
<br /> 2. Fundc for Taxes and Insurance. Sub.jtr�•t to Lender'. option unilt�r E�ara�raph. i an�l :� hrreof, R��r-
<br /> IY)N'F[ tiF1H�I NA}' (U l.r•ndrr un thc� da�� n��onfhl�� in�tullmrnL, ul'��rinci��:il xnil int��rc,t am ��a��aLitr unde•r th�•
<br /> Nute, until thr :�ote ia paid in full,a .curn (her�•in "Funii,") eyual tu on�•-tkrlhh ��1' �hf �r.irl� taxt•. an�l
<br /> as.�Fsment�;which may attain priority over thi, �furiRa�;r•, an�l };ruund rrnt. ��n the Pruperl�,�if am j�lirrv
<br /> one-twelfth of Yearly premium inslallments for hazarc3 in�uran��i�, plus �,nr-tH�olfth of crarl�� pr��rniuni in-
<br /> �tallment� for mnrt�;a�e incuranc�, if ant•, all as tea.unahly e,�ti�nati�d initiall� ��ni! tl•uni Iimr tu tinu• bv
<br /> Lender on the bacin of a�tirKsmentc nnd bilh nnd reasonaf�l����stirnaft•�Ihr•rrr�f. T,rn�le•r�hall a�q�l� th�• Fnn�l�
<br /> tu Nuy baiil taxr�,a�e;rstimrnta, intiurance prrmium�and Kn�und re•nts. l,t•ndt�r .;hall makE• no c•harKe� fnr .n
<br /> holding and applying the Fundr ur verifyinK and romF>ilinK �aid acsE�stirn��nt� and hitl,. T'hr I.e•ndt�r shall
<br /> give to the Borrower, without charge, an annual accountio� of the Funds .howin��•rrditc and dehit.to the
<br /> Funds and the purpusr for which each deb;t t�, the Funds wa, made. 'I'hr F'und,r• �rr pled�<•d a� additional
<br /> tztxrurity for the sum. vwvrrd by this !1lortgage. The I3urruwer eKrc-e� that I.hr }'unds rnay he held by the
<br /> Lender and commingled with other funds and the Lender's own funds and the Lr�ndi�r may ��a�• �uch item� "'�'
<br /> fre>m itt; own funds and the Lender shal! not be liable far interr�t or dividendn un �uch Fund�.
<br /> If the amount of the Funds held by Lender, toqether with the future monthlv installmentti af Fund. �
<br /> payable prior to t}fe due dates of ta:es, as�aesaments, insurance premiums and ground rent��, shall rxr�d
<br /> the amount required topa y said tsses,asaessments,ineurance premium;:and gmund rent.�a� thF�� fall .iur,
<br /> stych excesu Rhall be, et Borrower's option, either ptomptly rrpaid tu Borrower or cre�lited tr� HorrowNr on
<br /> monthly installmunt� uf Fun�3n. II Lhr aniount of the F'unde held hy (.,rnder vhall n�t bc�suffirie�nt tu pay
<br /> tazr«, aAw�wrmPnt�, insursnce premiums acul �ruwiJ renia aa Lhey fall due, liorrower shall pay t�� Lender
<br /> �Y �o�t nec'essarS' to tnake up the deSctiencv within thirty days after notice from l.ender t.o Born�wer
<br /> requesting payment thereof, or Bo:rower shall,�by� an increase in monthly installm��nt::of F und� rryuired,
<br /> �PaY the de5ciency within the Fund accountinR period.
<br /> l�pon payment in full of all sums scrured try thie Mortgage, I.ender shall apply Funds hrld a.a�rrdit
<br /> against a11 sumw due.
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