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<br /> INDIVI�UAL
<br /> � DUE ON SALE
<br /> Fl� ' OPTIONAL FUTURE ADYqNCES �
<br /> � Si4VINGS FUND �� . � " ��:�
<br /> � FORM NO-7'lO :
<br /> � ��N Loan Number_35595_ — 199 1 I
<br /> .�. -----_7rPe-�--'Bnncw •
<br /> ; 78-� U 0110 3 M O R T G A G E
<br /> ` THI3 MORTGAGE,made and executed this. .....................v:7�day of�-��C_...... ....._....... A.D.,
<br /> Edward D. Ulrich and E. Darlene Ulrich hus nd and wife,
<br /> 19__��,betw�en the Mort agor.....................•�----....._........-----......--�--�--- ........----...__.._....r....----........._....._--�---...__
<br /> . � jointly and each in t�eir own right
<br /> ..--•...................•--•--•---•-•-----...----...----•----•------•-•-----------....._.......-------�-----•••-•----��----•-----....------�---•--------•-------•-•------........._
<br /> � of...__._Grand Island County of ...._Hall........................State of.Nebraska ..----�hereinafter referred '
<br /> -•----•-----...............> ..------ ,
<br /> ; to as the Borr+ower, and the Mottgagee, FIRST FEI?ERRL SAVINGS ANII LOAN t;SSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> ; WiT�tg�Exx: That the said Borrower for and in consideration of the sum o 20�000 OO�OUSAND
<br /> ANDNO/100------------------------------------------
<br /> - • •-�--------•--•--------•._..........................��------�---�-- ....... .....--�-•- f�all DoIIars US --��---t-••--- '..---•--...... -�----
<br /> , ( $ ..�
<br /> ' paid by said Lender, does hereby mortgage, grant and conve to Lender, its successois and assigns; the
<br /> � following described property located in the County of............................................. State of Nebraska= �
<br /> ;�y �
<br /> i Lois Four (4) and Six (6), B1ock Twenty-three (23), University
<br /> ' Place, an Addition to the City of Grand Island, Hall County, '
<br /> ����i Nebraska. c�
<br /> � '
<br /> f'
<br /> � Tocs�rxee with all the improvements now or hereafter erected on the property, and all easements,
<br /> ' � rights, appurtenances, rents, royaities, 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-
<br /> � ments and additions thereto,shall be deemed to be and remain a part of the pmperty covered by this
<br /> i 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".
<br /> � Borrower covenants that Bonower is lawfully seised of the estate hereby conveyed and has the right
<br /> i to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> :� warrant and defend genezally the title to the Property against all claims and demands, subject to any
<br /> f easements and restrictions listed in a schedule of exceptions to covemge 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 /> � PaovtnEn AtwnYs, and these presents are executed and delivered upon the following conditions,agree-
<br /> .,i ments and obligations of the Borrower, to-wit:
<br /> �
<br /> � The Borrower agrees to pay to the Lender,or order,the principal sum of.T�"�ENTY THOUSAND AND
<br /> ................__.....-----�•---..
<br /> j: ._.NO(100---------------------------------------------Dollars (US 5.20,000._00---•---•�------•�---��
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<br /> f payable as provided in a note executed and delivered, concurrently herewith, the Snal payment of principal,
<br /> "= if not sooner paid,on the...._..ls.t............. day of....----Mar�h_............_......._.,3S.2AQ7
<br /> L3x[FoeHr CovExnrrTs. Borrower and Lender covenant and agree as follows:
<br /> ? � 1_ Payment oi Principal�d 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 1Vote,
<br /> ,� and the principal of and interest on any Future Advances cecured by this Mortgage.
<br /> ' 2. Funds for Taxes and Insur�ce. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br /> } rower 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 /> assessrnents 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-twelftFi of yearly premium in-
<br /> stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br /> � Lender on the basis of assessments and bills and reasonable estimates thereof. Lender shatl apply the Funde
<br /> to PaY said ta�ces,aesessments,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 /> '1 give to the Borrower,without charge,an annual accounting of the Funds showing 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 aecured 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 funda and the Lender shall not be liabie for interest or dividends on such Funds.
<br /> ' ` If the amount of the Funds held by Lender,together with the future monthly installments of Fvnda J � '
<br /> payable prior to the due dates of taaes,'assesaments, insurance p;emiums'and ground rents, shall exceed
<br /> ;� the amount requi=ed tapa y saig taaes, aesessments,iasurance premiums and ground rents as they fall due,
<br /> such ezcess ahall be,at Borrower's option, either prornptly repaid to Borrower or credited to Borrower on �,,
<br /> '.� monthly instatlments of Ftu�ds. If the amount of the Funds held by Ixnder shall not be sufTicient to pay `;��
<br /> '+ taxes, assessmenta, insurance premiums and ground rents as they fall due, Borrower shall pay t� LenAer ���
<br /> any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br /> requesting:payaient thereof, or Borrower shall,by aa increase in monthly installments of Funds required,
<br /> repay the deficiency within the Fund accounting period.
<br /> ` Upon'payment in full o[all sums secured by this Mortgage,Lender shall apply Funds held as a credit �
<br /> againat all sums due.
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