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<br /> IfVDIVIDUAL
<br /> `1SUE ON SALE ' �?
<br /> ' ��' OPTIONAL FUTURE ADVANCES " �.': �'
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<br /> SA'VINGS FUND �
<br /> . �� FOHM NOJ20 : . � . . � � .. . .� . � � ��:
<br /> �j Laan Number_�5�38------ g- -- E: :
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<br /> , '{j ' I'._ • .., . . . . . . . . . —� �aneh : ' ,y .
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<br /> ; , MO. R. TGAGE ��
<br /> �:� 78—y U U 16�ii ,
<br /> , TFiI3 MORTGAGE, made and executed this ----...a✓+�................ day of ...,/�¢.,?�.�L..•--.....:..._.A.D., � $
<br /> 19...2:�.:,between the Mortgagor, �chael_W.__Launer,.and_.Catherine.,J,,,Launer�_.Husbaad anri :
<br /> -•------.._.
<br /> °:' . :wifej.jointly, and;;each_.in_their own,right_____ ___ ______ '
<br /> .......-- ••--....- ----•.... ............•---...--•-•. ;
<br /> I of ..Grand Island' _., County of.....Hall---- ---- - - g��of.Nebraska.--•----,hereinafter refeaed ` ° �
<br /> •---.... .......- -�------� �
<br /> 7 to as.the Borrowe, and the Mortgagee, FIRST F"EDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> i LINCflLN, 1235 "N" Street, ISncoln,Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> � � as Lender_ �
<br /> WiTxEssETx: That t1�e said Bortower for and in consideration of the sum of ....T.HIRTY THOUSAND
<br /> .._......�..............
<br /> SIX FIUNDRED AND NO/100---------------------------Dol:ars (US$_.30,600.00 ..............._.J
<br /> - •...._-----.._..-•-••-------•-------••.............................••--....._.._.........._..............
<br /> � pa�d Uy said Lender,does hereby mortgage, grant and conve to Lender, its successors and assigns; the ,;
<br /> foilowing desczibed property located in the County of...�1�..................___........., State of Nebraska: � ; � ,'
<br /> � Lot One Hundred Seventeen (117), in Buenavista Subdivision, an � �'
<br /> ` � Addition to the City of Grand Island, Ha11 County, Nebrasb,a.
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<br /> TocsaHEa with all the improvements now or hereafter Qrected on the property, and all easemeats, �i,
<br /> righte� app�+rte�nces� rents, royalties, mineral, oil and gas rights and pmfits, water, water rights, and
<br /> �..
<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 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 lmsehold) are herein referred to as the "Property". t �'t,�„".
<br /> Borraiwer covenants that Borrower is lawfully seised of the estate hereby conveyed and l�as the right ' �„
<br /> to mortgage,grant and convey the Property, that the Property is unencumbered, and that Borrower will z-�=°
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<br /> warrant and defend generally the title to the Property against all claims and demands, subject to any f �;
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<br /> ' easements and restrictions listed in a schedule of eaceptions 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 t
<br /> by bonded abstracter. 7, `W
<br /> PsovznEn .Ai.ww�rs, and these presents are eaecuted and delivered upon the following conditions,agree- t' s
<br /> ments and obligations of the Borrower, to-wit:
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<br /> �.� The Borrowe a a to the Lender,or order, the T��TY THOUSAND AND ' . `
<br /> y pnncipal sum of ....._ . ,,
<br /> s six sarmxEn ��r /�PoB----------------------- ��';son'.ocs--------�-------------
<br /> --- •------- ------...----------•-----�---...----�------------------------�------�-��----..
<br /> - -------------nona� cus$---._......----�-------.....--------------� ; �
<br /> � payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> if not sooner paid,on the.._.Yirst....--•.---- day of._..__April...............•--•---.---.� �007• '..
<br /> Uxn+oant Covsxnarrs.Borrower and Lender covenant and agree as follows:
<br /> 1. Paymeat of Aiacipal�d Taterest 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. Fuads for Tmces�d Iasuraace. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> ,a rower ahall 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 pretnium instaliments 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 /> I:ender on the basis of assessments and bills and reasonable estirnates thereof,Lender shall apply the Funds y;
<br /> � to pay said tases;asseasments, inaurance remiums and
<br /> L,� fioldin and a 1 p ��d rents. Lender shaIl make no charge for so
<br /> 8 pp ying the Funda or verifying and compiling said asseasments and bills. The Lender shall
<br /> give to the Borrower,without charge,an annual accounting of the Funds showing credits and debits to ttie
<br /> Funds and,the purpase..for whit�each debit to the Funda was made. The Funds are pledged as additional
<br /> � security;for the sums eecured by this Mortgage. The Botrower agrees that the Funde may be held by the
<br /> �; T,ender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br /> � from its.own,funds,and the Lender shall-not be:liable for interest or dividends on such Funds. �.«---�
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<br /> �� If the amouat�o€the-Funds held by Lender,together with the future monthly instailments of Funds •
<br /> i; paYable grior bo'the<lue dates of taxes;asseasments, insurance preminms and ground rents, shall exceed ( �i:l;'
<br /> tl�e amount i�equued.topa y said tazes,assessments,iasurance pzemiums and ground rents as they fall due, {
<br /> such.,eaceee shali-.be, atFBorrower's option;•either promptly repaid to Borrower or credited to Borrower on r
<br /> monthly�y�ns�a]I:nent�ot;F,ands. If Lhe amovnt of the Funds held by Lender shall not be sufficient to pay ,�"���
<br /> w tsaes, asseesments u�surance pr'emiums'and gmund rents as they fall due, Borrower shall pay to Lender �a �t s
<br /> ` artY amolmt'neceseary,to.mske up the deficiency within thirty days after notice from Lender to Borrower `;„2�
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<br /> `�'i r�equeating payment thereof, or Borrowe;shall;by„aa'increase in monthly installments of Funds required, ''
<br /> repay tFi�'$efit�'i'�'acy'�idtEun the Funtl accounting period. ° .,
<br /> Upon.payment in full of all auma secured by,this Mortgage,Lender shall apply Funds held as a credit
<br /> :�� against:all sums��iiue. � � �
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