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<br /> IfVDIV1�UAL :,``
<br /> - DUE ON SALE
<br /> OPTIONAL FUTURE ADVI�NCES
<br /> ," �� SAVINGS FUND � �
<br /> '�. .. .. FORM N0.720 . . . -'-- ' — .
<br /> ��N Loan Number___35532 — 199 _1 `� ;
<br /> Type. � B�aneA I� '
<br /> � � �� � �: � � M � O���R T G A G E � � � � t�. ���� �;.
<br /> ��� � �s-• �101047 � � � ,.;
<br /> ? T I8 MORTGAGE,made and executed this......................G��7. day of .._ A.D., `' ' '
<br /> r ,� -........................ ........ ,
<br /> _. 19.�d..:,between the Mortgagor,....Cliffn=d..L._..Kat1�1_.and..Eamela..S..._.Kathol.,_.hus d__and..w3.fe, :
<br /> ,. �
<br /> � �oiaXly._and__�aah..3.n..zheir..aran..z].glat.....-�--••................................•---�---•-----.._.._......._....--------•--•----•-•---- �'
<br /> ; °f -•--..:...Grand__I,s.l.aat�.., County of-----------Na11-------------•--.,State of_Nebsaslsa._...---.,hereinafter referred '
<br /> : � to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LiNCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigna,hereinafter referred to
<br /> y as I.ender.
<br /> i ,, `
<br /> i W[TxEssETx: That the said Borrower for and in conaideration of the surn of.____.�J�ATX..TE3R�E..THOUSAND :. > . i
<br /> ' ..._AND,.xo/100--------.~------_------------------------Dol:ara (US$--3.3,.QOO..QA.-----•-•----._....._) ,=
<br /> "; paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the �
<br /> , ,
<br /> ' following described property located in the County of ..............�1�,,._____.._...___...., State of Nebraska: `" '
<br /> 3
<br /> ; K"
<br /> 3 Lot Five (5), West Spelts-Schultz Addition to the City o�' ` i.
<br /> � Grand Island, Hall County, Nebraslca. ; :,
<br /> 7 x x
<br /> � [ ;
<br /> '
<br /> � i
<br /> � TocL�cxEa with 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 fixtures now or hereafter attached to the property, all of which, including replace- z'�f"
<br /> ments and additions thereto,shall be deemed to be and remain a part of the pmperty 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". r �;
<br /> Bocrower 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 /> x warrsnt and defend generally the title to the Property against all cIaims and demands, subject to any ' S s
<br /> '.i easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy ia- `
<br /> . '� suring Lender's interest in the Property,or (2) attorney's opinion of title from abstract of title certified + ,7 y
<br /> � by bonded abstracter. i �
<br /> PROYIDED ALWAY3� and these presents are eaecuted and deiivered upon the following conditions,agree- r
<br /> ments and obligations of the Borrower, to-wit: '
<br /> The Borrower agrees to pay to the Lender,or order, the principal sum of _.T�IRTY.TEIItEE_.THOUSAPTD ,
<br /> � -
<br /> AND_NO/100------.------------ ----_.—.---.—,-----."._—.-'.DolIars (US$.._331000 00.. -- •----....)
<br /> �:`�. �
<br /> payable as provided in a note executed and delivered concurrently herewith,the final payment of principal, ;
<br /> if not soonerpaid,on the-_----:-.lst......... day of _...Ntarch.----..-----••----.-.---.�xpg•2003 '
<br /> � LJxiFoaM CovExnx�rs:Bonower and Lender covenant and agree as follows:
<br /> 2.Payment of Pziacipal�d Iaterest. Borrower shall promptly pay when due the principal of und 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 /> Z.Faads for Tmces and Insur�ace. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> ? rower shall pay to Lender on the day monthly instaliments 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 gmund rents on the Property, if any plus
<br /> one-twelfth of yearly premium inatallments for hazard insurance, plus one-twelfth of yearly premium in-
<br /> stallments for morEgage inaurance,if any, all as reasonably estimated initially and from time to time by
<br /> ,-� Lender on the basis of asaessments and bills snd reaeonable estimates thereof,Lender shall apply the Funds
<br /> to pay said taaes,'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 tao the Borrower,without charge,an annual accounting of the Funds showing credits and debits to the
<br /> + Funds ant�tIae:purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> .� ; security;for-t3�a.sums:secured by this Mortgage..The Borrower sgrees that the Funds may be held by the
<br /> ,t Lender and`commingied with other funds and the Lender's own funds and the Lender may pay such items ._�,.;,
<br /> �^;� from,its own funiis'and the -I:ender sha1T not be Iiable for interest or dividends on such Funds.
<br /> � Tf the amount'of the Fnnds held by Lender,together with the future monthly inatallments of Funds � �:
<br /> , � payable'paor'to the'dve`dates of'taaes,assessments, insurance premiums and ground rents, shall exceed
<br /> �� the amouat r@quired to.,pay said tazes,asaessments,insurance premiums and ground rents as they fall due, x
<br /> +� suCh �acteas shall�be,at.Borrower's.option; either promptly repaid to Borrower or credited to $orrower on :�;
<br /> �� monthiy'u►sY.slknents of Funds. If the amount.of the Funds held by Lender shall not be sufficient to pay w p�
<br /> �, tazes assessm,en�s, insur`ance preiniums and.ground rents as they tall due, Borrower shali pay to I.ender ,;�,,�, yr
<br /> a n y a m o u n t n e c e s e a r y t o m a k e u p t h e de fic�ency wi t h i n t h i.-ty days a f t er no tice f r om L en der t o Borrower
<br /> requesting payinent thereof, or Borrower'shall,by an increaae in monthly installments of Funds required,
<br />,,�� � zepay tfie de�c►ency'wit6in the Fund accounting period.��` � - .
<br /> LTpon'payment.in full-of all'sums'secured by this Mortgage,Lender shall apply Fnnds held'as a credit
<br /> ; against all sutns due. _ �
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