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<br /> INpI\/IDUAL ' '
<br /> � DUE ON SALE
<br /> ��'�" OFPTIONAL FUTURE ADYANCfiS
<br /> SAVlNGS FUND
<br /> , . _..��� FORbt N0.72�0 ;� - : ,.�. �:_
<br /> ; Loan Number__35928 --- - 188_- 1 r ;
<br /> � �� � rroe -e.e�an i � �:
<br /> � j 78-� U016�4 M � RTGAGE
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<br /> :, ' T'HI3 MORTGAGE,made and executed this .........._23................ day of......:..Maach.....__............ A_D., '
<br /> I9_..?�...,betw n the�Mortp�ag�r,._�1:a;����,_E,___R.itCl;;ie._and._Delene._S.,.,Ritchie�__husband._and_.,
<br /> wife, joint�y a esc n t eii own rigfit � ��� '
<br /> ` --•----•• -----•- - -•-- --•---------------••--•---.........--•---•---........._....---•-•---._..---•--........._....-•-•---••----•-•_•-•-•--••------••-------•
<br /> % Giand �sland� ��� � Hall Nebraska ,here�nafter referred
<br /> : of .....-•-�-----•�---------�---•-----�----� County of ...... --�--••--•.....................State of---.._........... . '
<br /> tc� as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> ; � WITNESSETH: TI]flC L}1 said Borrower for and in consideration of the sum of _...EORTY.THOUSAND_.__
<br /> ' ._EIGH'T 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 clescribed property located in the Caunty of ...._..�all , State of Nehraska: =`
<br /> Lot Seven (7), Fonner View Subdivision in the City of Grand Island, Ha11
<br /> County, Nebraska.
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<br /> �.�i TOGETHER Wlt}7 8II tI1C improvements now or hereafter erected on the property, and all easemen�s, . �
<br /> f rights, appurtenances, rents, royalties, mineral, oil and �as rights and profits, water, water rights, and '��
<br /> � water rtock, and all fixtures now or hereafter attached to the property, ail of which, including replace-
<br /> _ � ments and additions thereto,ehall be deemed to be and remain a part of the property covered by� this
<br /> ' Mortgage; and all of the foregoing, togethez with said property (or the leasehold estate in the event this s',
<br /> J Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> ,�r Bortower 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 Property against all claims and demands, subject to any
<br /> easements and restrictions listed in a schedule of exceptions to wverage in any tit3a insurance policy in- : z
<br /> � suring Lender's interest in the Property,or (2) attorney's opinion of title from abstract of title certified f '�j
<br /> ,+i� by bonded abstracten
<br /> ��,if PEOVIDED ALWAY3� and these presents are executed and delivered upon the following conditions,agree- �. ;^
<br /> ;.� ments and obligations of the Borrower, to-wit: ,.
<br /> 3 The Borrower a s to pay to the Lender,or order, the princi al sum of.FORTY THOUSAND_SIGIiT__.
<br /> c .---(itJNDRED..AND NO 100-------------__----------------Dollars (US$.40 800.00---•---- ---------�
<br /> ----•----------------------------•.....--- ••---.._....-----��-------..... ._..----
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> j if not sooner paid,on the_..----1st......------- day of-------.•-Agxa-1---•....................•�_..2Q07
<br /> Ux[soanz CovsxwxTs. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of 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 Note,
<br /> and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds foz Tmces�d Insuz�ce. Subject to Lender's option under paragraphs 4 and 5 hereot, 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 /> 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 yeariy premium in-
<br /> � stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by '�=5
<br /> I,ender on the basia of assessments and bills and reasonable estimates thereof,Lender shall apply the Funds
<br /> ,. ; to pay said tases,assessments,insurance premiums and ground rents. Lender shall make no charge for so +�7
<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 accounting of the Funds showing ctedits and debits to the ,,,F;;
<br /> ; i Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional �-.�,
<br /> ,.� secuntg for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br /> Lender and commingled with other funds and the I.ender's own funds and the Lender may pay such items �f;
<br /> ..; from its own funds and the Lender shall not be liable for intereat or dividends on such Funds. �
<br /> � If the amount.of the Funds held by Lender,together with the future monthly installments of Funds ` *��
<br /> payable paor to the due dates of taaes,asseasments, insurance premiums and ground rents, shall exceed
<br /> the satount required to pay said tsaes,asseasments,insurance premiums and ground rents as they fall due, ;
<br /> snch eacess ahall be,at Bortower's optian,either promptly repaid to Borrower or credited to Borrower on ��; '
<br /> monthly`iastallmenta.of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay �a`;-r.,
<br /> ;j" taxea,.asseasmeats, insurance premiuma:and ground rents as they fall due, Borrower shall pay to Lender ,�
<br /> '-; any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower �
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<br /> `'! request�ng payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, �-`
<br /> repay the deSciency within the Fvnd accounting period.
<br /> Upon payment in full of all sums secured by this Mortgage,Lender shall apply Funds held as a credit
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<br /> againat all svma due.
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