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<br /> �worv�oua�
<br /> DUE ON SA�LE
<br /> OPTIONAL FUTURE ADYAIWCES
<br /> � �� SAVINGS FLJND 4;
<br /> FpRM N0.720 �
<br /> Loan Number__359_4�__-.1.88___-1___
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<br /> .i 78`' OO1B10 MORTGAGE
<br /> I i THI3 MORTGAGE,mads and executed this .._....-'c��-•-----.----.. day of-----------�'-��°'�-`-�......---... A.D., .; ,
<br /> `.! 19...78..,between the Mortgagor _.._Verdel L.._Noe_.and..Sandra__K.._Noe,_.husband_.and_.wife,,,.jointly ,'
<br /> , � and each in their..own_ri�{�t3____________ ',t
<br /> ......••••••••••---.....-----•---•-•-• ------••- ----•.... .............. . ... • ---�---- --....... ...... ... ...•••--•
<br /> � of_..___Grand Island , County of ......__....Hall .............. State of..Nebraska . hereinafter refened �
<br /> 3 to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSQCIATION OF
<br /> _,
<br /> `i LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501,its successors and a.ssigns, hereinafter refeaed to ,";.
<br /> y as Lender_
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<br /> � WITNE$SETH: TIl8t EIlO S81(1 BOrI'OW2S fOI' 8I1C1 in consideration of the sum of_THIRTY,_ONE_THQU�E�ID s �
<br /> {
<br /> { FIVE HUL*TDRED AND_NO/100------_----------------------.--Dol:ars (US$_31,_500.00 -•----------------)
<br /> ---•------•-------------•-----�----•------•------.... ;
<br /> f paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br /> ' Hall .___, State of Nebra�ka: i `
<br /> $ following described property located in the County of...................................... a
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<br /> �� S,ot Four (4), Black One (1), Dickey Third Subdivision, a Resubdivision
<br /> � of all of' Blocks Two (2) and Three (3), Dickey Second Subd3vision of
<br /> ;� the City of Grand Island, Hal1 County, Nebraska.
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<br /> � Toc�rHss with all the improvements now or hereafter erected on the property, and all essements, Fi
<br /> rights, apgurtenances, reats, royalties, mineral, oil and gas rights and profits, water, water ri�hts, and
<br /> � water atock,and all fixtures naw or hereafter attached to the property, all of which, including replace- " "`
<br /> .� menta and additfons 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 ewent this t
<br /> ;� Mortgage is on a leasehoid) are herein referred to as the "Property". ? �
<br /> � Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
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<br /> � to:mortga.ge,grant and convey the Property,that the Property is unencumbered, and that Borrower will i ;
<br /> warrant and defend generally the titie to the Property 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) attomey's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> � Pxovr.nEn ALwasrs, and these presents are eaecuted and delivered upon the following conditiona,agree- °
<br /> ments and obligations of the Borrower, to-wit:
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<br /> � The Borrower agrees to pay to the Lender,or order,the principal sum of T�IR�.9.�..�HQ.US.ANA_F.IVE
<br /> .�iII�:?I�RED._AND._NO(100-------------------.-----------.--�ollars (US $...31�SOQ.OU....--------•--.._.)
<br /> payable as provided in a note executed and delivered, concunently herewith,the final payment of principal,
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<br /> .' if not sooner paid,on the..,7.S:t-•----------------- day of_....April---------•------------.------� pg-2007
<br /> � UxtFoxM Covsxarr�rs.Borrower and Lender covenant and agree as follows:
<br /> ( 1. Payment of Principal�d Interest Borrower shall promptly pay when due the principal of nnd in-
<br /> 'i terest on the indebtedness evidenced by the Note,prepayment and late charges as pmvided in the Note,
<br /> , � and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Fuads for Tmces�d Insur�ce. Subject to Lender's option under pazagraphs 4 and 5 hereof,Bor-
<br /> :-i rower shall pay to Lender on the day monthly installments of principal and interest are payabie under the
<br /> `_� Note,until the Note is paid in fnll,a sum (herein "Funds") equal to one-twelfth of the yearly taxes and
<br /> sesessmenta 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 /> " 1 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 shall apply the Funds
<br /> 'fi to pay said taxe§,asseasments,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 /> ;[j give to the Bozrower, without charge,an annual accounting of the Funds showing credita 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 /> .� security for the aums.aecured.by this Mortgage. The Borrower agreea that the Funds may be held by the �
<br /> Lender and commingled with other fvnds 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. w
<br /> a - If.;the amount of the Funda held by Lender,together with the futiure monthly installments of Funds � k `y
<br /> } payable�pnor to the due dates of taaes,assesamenta, insurance'p;emiums and ground rents, shall exceed �_
<br /> ' t,}�e amoua�required topa y said tazes,asseasments,insurance preassums and ground rents as they fall due, �t>
<br /> s u C h e z c e s a a h a l l b e,a t B o r r o w e r's o p ti o n; e i t h e r p r o m p t l y r e p a i d t o B o r ro w e r o r c r e d i t e d t o B o r r o w e r o n a y;,,,, �
<br /> � monthly inatallments of Funds. If the amount of the Funda heId by Lender shall not be sufficient to pay � '''
<br /> '`� tases`assesame=sts' insnrance =��r
<br /> '; an amoun�n ' P��ums aad,ground.reats as they fall due,Borrower shaIl pay to Lender �
<br /> y ecessary to make.up the deSciency within thirty days after notice from Lender to Sorrower
<br /> =( re4ueating payment thereof,,or Borrower'aball,by,an increase ia monthly installments of Funds required,
<br /> ''F repaY.tfie defici�cy within the Fund accounting period.
<br /> Upon.payment in full.of all aums.secured by this Mortgage,I.ender shall apply Funds held as a credit �
<br /> against all sums due.
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