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<br /> � INDIVI�UAL
<br /> DUE ON SALE
<br /> ��'' OPTIONAL FUTURE ADVANCES
<br /> �■ SAV(NGS FUND
<br /> �� .�_�-, FORM NoJ20 ,.�..
<br /> 1R V<Ir —
<br /> r Loan Number----35342- -T 88----ersi n .
<br /> �s� uoo3��
<br /> M O R T G A G E
<br />' THI3 MORTGAGE,made and executed this ..... ......./.�P.............. day of.._.._.. . .......... A.D.,
<br />� 19_..2rY._,between the Mortgagor,--La;�y..p,---���,�.�,g�..�A,d..I.�moX�..�....I�u].,1. gam>...h. tzand..and---•_
<br /> wifes_.jointly._and__each._in,.their_own,rig,ht�-------------------•---.-.----------.
<br /> --�-•--�-•-----�--------••-•----------------------
<br /> of Grand..Island.,,_ ._._.__, County of ...........Aa�7.................State of...�I�b1C.a&k,3...._..,hereinafter refened
<br /> to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, LinwIn, Nebraska 6850I, its successors and assigns, hereinafter refened to
<br /> as Lender. :
<br />�� WITNESSETH: T}l8t he said Borrower for and in consideration of the sum of _.FORTY THOUSAND � � � ����.� �
<br /> --�-�--•---••----.
<br />` EIGFIT HUNDRED AND NO 100-----------------.-_---------.'Dol;ars (US$.40,800.00....................)
<br />' --•_•••--------- --------......--•-----...._..-�-�--�---��-�--�-�•-�--��---
<br /> paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />� following described property located in the County of ._.......�?-all , State of Nebraska:
<br /> Lot One (1) in Ross Heights Subdivision, Ha11 County, Nebraska.
<br />� TOCETHER Wlttl all the improvements now or hereafter erected on the property, and all easements, . �. � .. �
<br /> rights, appurtenances, rents, royalties;mineral, oil and gas rights and profits, water, water rights, and
<br /> water stock, and all fistures now oe hereafter attached to the property, all of which, including replace-
<br /> ments and additions thereto,shall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on a leasehold) are herein refeaed to as the "Property".
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warrant and defend generally the title to the Pmperty against all claims and demands, subject to any
<br /> easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br /> suring Lender's interest in the Property,or (2) attorney's opinion oF title from abstract of title certified
<br /> by bonded abstracter.
<br /> P80VIDED ALWAYS� and these presents are executed and delivered upon the following conditions,agree- � .
<br /> ments and obligations of the Borrower, to-wit:
<br /> The Borrower agrees to pay to the Lender, or order, the principal sum of..FORTY..THOUSAND..EIGHT_
<br /> HUNDRED_AND NO/100--,-----,-----------------_------.---'flollars (US$-..40,800.00.......--•------••-)
<br /> ----••-•-------------• --- --� - -•
<br /> payable as provided in a note executed and delivered,concunently herewith,the final payment af principal,
<br /> if not sooner paid,on the--------.._.1st.--__... day of_...............E'ebx.uaxy-....-----,�&.20Q3
<br /> Ux[FoaM CovExwxTs. Borrower and Lender covenant and agree as follows:
<br /> I. Payznent of Principal and Interest. Borrower shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness 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 /> 2. Fnads for Taxes and Insuraace. Subject to Lender's option under paragraphs A 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 yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as ressonably estimated initially and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lender shall apply the 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 said assessments and bills. The Lender shall
<br /> give to the Borrower,without charge,an annual acrnunting of the Funds showing credits and debits to the j
<br /> Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> security for the suma secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br /> Lender and commingled.with other funds and the Lender's own funds and the Lender may pay such items - .--��, � ��
<br /> from its own funds and the Lender ehall not be liable for interest or dividends on such Funds. h
<br /> If the amount of the Funda held by Lender,together with the future monthly installments of Funds � � '
<br /> payable prior to the due dates of taaes, assessments, insurance premiums and ground rents, shall exceed ��
<br /> the amount required topa y said tasea,assessmenta,insurance premiiuns and ground rents as they fall due, t,w
<br /> s�ich eacess;shall-be,at.Borrower's option,either promptly repaid to Borrower or credited to Borrower on �, g
<br /> monthly installments of Funds. If the amount of the Funds held by I,ender shall not be sufficient to pay
<br /> taxes. assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br /> any amount necessary to make np the deSciency within thirty days after notice from Lender to Borrower
<br /> requesting,pa}rment thereof, or Borrower shall, by an increase in monthly installments of Funds required,
<br /> repay the'deSciency within the Fund accounting period.
<br /> Upon payment in full of all suma secured by this Mortgage,Lender shall apply Funds held as a credit
<br /> againat all aumr+due. �
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