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<br /> IIVDIVIDUAL - •
<br /> DUE ON SALE
<br /> OPTIONAL FUTURE ADVANCES
<br /> ' �■ SAVINGS FL1ND
<br /> � � �
<br /> r, . � FowM N0.720 . ,� ' `� '�
<br /> , '� Loan Number---_35451_— TYo 88— e.��n � �
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<br /> ; 78.- U0028� MORTGAGE
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<br /> i I3 MOR.TGAGE,made and executed this --......../.J.'.............•--- day of------- --.......- •-•----........_ A.D., �
<br /> ; 19.:7�;between the Mortgagor,....Adrian..A,_.Lind$ay,.and_Muriel,.J,__Li__.say,,,,, �b�Ad..aAd._�.fe, '
<br /> ? ointl and each in their own ri ht `
<br /> , j_......----x....................••••----....--••--•--•- -•--g ..� --. ... •-••----_........-•--•••---•.
<br /> '� of._._Grand_.Island_ _.., County of..... _.Hall,•• • ------,State of...Nebraska.._....,hereinafter referred ;
<br /> . _
<br /> i to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF r
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its auccessors and asaigns, hereinafter refeaed to
<br /> as Lender.
<br /> � WITNESSETH: Tt18t the said Borrower for and in consideration of the sum of ...T.�?ENTY..NINE__TfiOUSAND �.
<br /> � SEVEN HUNDRED AND NO/100--------------------_---------.Dol:ars (US$----29�700„00 •--•----) `
<br /> .................... -- •-...---- •-- -.
<br /> paid by said Lender, does hereby mortgage,grant and convey to Lender, its successors and assigns; the �'
<br /> ' following described property located in the County of ................Hall .....__,.____� State of Nebraska: ' �+.
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<br /> : j The Westerly Fifty-nine £eet (w 59') of Lot Two (2), in Block Two (2) ia Westerhoff's ��
<br /> E First Subdivision in the City of Grand Island, Hall County, Nebraska, excepting �-
<br /> : the Westerly Two �eet (W 2') thereof_ And also excepting therefrom the North Thirty u.
<br /> � feet (N 30') heretofore conveyed to the City of Grand Island, for Street pvrposes. �
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<br /> � TocETx$a with aII the improvements now or hereafter erected on the property, and all easements, �
<br /> ! righta, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, watez rights, and �_
<br /> � water atock, and all fiatures now or hereafter attached to the property, all of which, including replace- I'
<br /> r ments and additions tl�ereto,shall be deemed to be and remain a part of the property covered by this ;
<br /> 3 Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event thia �
<br /> , � Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> � Borrower covenants that Borrower is lawfully seised of the eatate hereby conveyed and has the right
<br /> to.mortgage; grant and convey the Property, that the Property is unencumbered, and that Borrower wili
<br /> - { warrant and defend generally the title to the Property against all claims snd demands, subject to any ;
<br /> easements and restrictians listed in a achedule of eaceptions to coverage in any title insuiance policy in- j
<br /> i suring Lender's interest in the Pmperty,or (2) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter, w
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<br /> PHOVIDED ALWAYS� and these presents are egecuted and delivered upon the following conditions,agree-
<br /> € ments and obligations of the Borrower, to-wit:
<br /> 3
<br /> ' I� The Borrower agrees to pay to tt�e Lender,or order, the principal sum of T�NTY_NINE__THOUSAND...
<br /> ; SEVEN_t3UNDRED,.AND_NO/,100----------------------------'Dollars (US$...29_ 700 0_Q:;--- ---••-•--) f
<br /> ; --•••---•--...-•----•---•---•...................... �.----•
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> " if not sooner paid,on the_..-----..,7,&t---•---._._ day of----.._....�eb�!i�S'.Y.--•---•----------. �C..2Q97 `:
<br /> � UxisoaM CovExwrrrs. Borrower and Lender covenant and agree as follows:
<br /> � 1. Payment of Priacipal�d Iaterest Borrower shall promptly pay when due the principal of and in-
<br /> terest on the indebtednesa evidenced by the Note,prepayment and late charges as provided in the Note,
<br /> ! and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> j2. Fuads foc Tmces�d Insur�ce. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> � �+ower ehall pay to Lender on the day monthly installments of principal and interest are payable under the
<br /> Note,until the Note is paid in fvll,a aum (herein "Funds") equal to one-twelfth of the yeariy taxes and
<br /> assesaments which may attain prion'ty over this Mortgage, and ground rents on the Property, �f any plus
<br /> , � one-twelfth of yearly premium installmenta for hazard insurance, plus one-twelfth of yearly premium in-
<br /> � stallmenta for mortgage insurance,if any, all as reasonably estimated initially and from time to time by
<br /> Lender on the basis of asaeasments and bilIs and reasanable estimatea thereof,Lender shall apply the Funds
<br /> 2 to pay-said taxes,assessments,insurance premiums and ground rents. Lender shall make no charge for so
<br /> ;.� holding snd applying the F�nds or verifying and compiling said asseasments and bills. The Lender shall
<br /> g�ve to the Bo;rower,without charge,an annual accounting of the Funds ahowing 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 /> aecurity for,the;sums secured by this Mortgag�The Borrower agrees that the Funda may be held by the "°'R;
<br /> '� Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items ; -
<br /> from ita_;own funds and the Lender ahall not be liable for interest or dividenda on such Funds. r ;
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<br /> -if the amount of,t6e F�da held b y:7yender,to gether with the future monthl y inatallments of F�nda
<br />�,ti� ' P�eyahte;pnos=to the due'dates of taaea,a�easments, insurance premiums and ground renta, shall eaceed �'; � '�
<br /> taae�ount�.v�a��y�a t�� aseesements,inaurance p=emiums and ground rents as they fall due, }?
<br /> �,� such.ezcea�shaii be,at Borrower's option,either promptty repaid to Borrower or credited to Borrower on <..
<br /> '"' u�i'o1n€lily �nstalimenta df:'Fuads. If the amoun£.of the Funds held by Lender shall not be sufficient to pay ,"�' =� '
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<br /> '''' ` $azes,;.aseeesments, iusni�aace remiums and
<br /> p ground rents as they fall due, Borrower shall pay to Lender ' -"
<br /> <4 ' any,;amount,ne�xseary;ta make;.up the.de8ciency within thirty days after notice from Lender to Borrower
<br /> t requesEing payment thereof, orBorrower.ahall, by an incresse in monthly installments of Funds required,
<br /> ; i repay,tlie defidericy within the'Fund accounting:period.
<br /> � ;: Upon payment in full of all.auma secured by this Mortgage,Lender shail apply Funds held as a credit �
<br /> aga�nst all sums due.
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