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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> OPTIONAL FUTURE ADVANCES
<br /> �� SAVINGS FUND
<br /> f . �� FORM No.720
<br /> i �' Loan Number__ 35514 __-_ 188 ____B.�lch
<br /> � 78-. 0 013 Q f5 M O R T G A G E
<br /> j �
<br /> ; �y,� y
<br /> ; T�IS MORTGAGE,made and executed this ..............p........__... day of ....�C/��._......__....... A.D.,
<br /> + 19._7d_..,between the Mort agor, ..�fred..T.__Salmon._and._Dorothy_D.__Salmon�..husband and wife,
<br /> ; ---------------------•-•
<br /> � �ointly and_each in t eir own riqht _
<br /> ......... ..............-----•---••-----------------....---••--------.._..-----._._..
<br /> '; of Grand Island Hall ,State of...._. .... hereinafter referred
<br /> ......... ......... County of....__.. Nebraska
<br /> . ..-----�-----�
<br /> `? to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> � LINCOLN, 1235 "N" Street, Lincoin, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> � as Lender.
<br /> �' WITNE4SETH: TI78t tI1C said Borrower for and in consideration of the sum of.TZ?Er?.T.Y FIVE THOIISAND `�
<br /> :; �.xX..F�JS(P.�F.I?__AbJ)J..�iQ/..1.9Q--.---r..----r.-----.---------r.-----�ol:ars (US$...25�600.00.......--•�-------�
<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: '"
<br /> �---..... �------�-
<br /> Lot Seven (7), in Villa Mar Dee Subdivision, the same being contained and located
<br /> on all of Lot Twelve (12), o£ the Subdivision of Lot Nine (9), and all o£ Lots
<br /> Seven (7) and Eight (8), in Windolph's 9ibdivision of part of the Northeast Quarter
<br /> of the Northwest Quarter (NE4NW�) and part of Northwest Quarter of the Northeast
<br /> Quarter (NFFuNEu) of Section 14, Township 11 North, Range 9 West of the 6th P,M.,
<br /> Iia11 Caunty, Nebraska. ,
<br /> TOGETHEE with all the improvements now or hereafter erected on the property, and all essements, � � �
<br /> j rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and '
<br /> 1 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 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 referred to�as the "Property".
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> ta mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warrant and defend generally the title to the Property against all claims and demands, subject to any
<br /> �i easements and reatrictions 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 abstractea
<br /> PHOVIDED 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 ...�k?�X..��YE..xHUtISANIl.
<br /> •--S�,7f.__�It1NP..�D_AND--NO(100----------------------------�ollars (US$---�5_._SQU..QQ........----------�
<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..-----�.5.'�----.-•----_-- day of--_----.Merch_.....-------------------•,�;@-200.7
<br /> UNIFORM CoveNnxTs.Bonower and Lender covenant and agree as follows �
<br /> ' 1. Payment of Priacipci aad Iaterest. Borrower shall promptly pay when due the principal of t►nd 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. Fuads foz Tmces and Iasur�ce. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> mwer 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 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 reasonably estimated initially and from time to time by
<br /> Lender on the basis of assesaments and bills and reasonable estimates thereof,Lender shall apply the Funds
<br /> to pay said taxes,assesements,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 Borzower,without charge,an annual accounting of the Funds showing credits and debits to the
<br /> Funds and the pnrpose for which each debit to the Fuads was made. The Funds are pledged as additional
<br /> security 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 iffi own funds and the Lender shall not be liable for interest or dividends on such Funds. �'
<br /> If the amount of the Funds held by Lender,together with the future monthly installments of Funds t
<br /> payable prior to the.due dates of taxes,assessments, insurance premiums and ground rents, shall exceed _J
<br />" the amount.required'to pay said taaes,assesaments,insurance premiums and ground rents as they fall due,
<br />' such eacess;shall be,at Borrower's option,either promptly repaid to Borrower or credited to Borrower on
<br />�- monthly installmenta of Funds. If the amount of the Funda held by Lender shall not be sufficient to pay
<br />!'•: tszes, aseessmenfs, insurance premiuma and ground rents as they fall due, Borrower shall pay to I.ender
<br /> any-amonnt neceaeary.to malce up t.he deficiency withia thirty days after notice from Lender to Borrower
<br /> reqnesting payment.thereof, or Borrower shall, by an increase in monthly inatallments of Funds required,
<br /> repey the deficiency within the Fund accounting period.
<br /> ,Upon paym¢nt in full of all auma secured by this Mortgage,Lender shall apply Funds held ns a credit
<br /> against all sums due. ,.
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