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<br /> 1'NDIVIDUAL �
<br /> DUE Of�t S.4LE � <',
<br /> � OPTIOfVAL FUTURE ADVqNCES
<br /> �� SAVINGS FUND
<br /> � ..�� FORM No.720 � � . "
<br /> �, Loan Number__360�6------1$$_— �.,�_
<br /> . . � ' TYbe �8i��c+A
<br /> ` 78-�•002�43 M O R T G A G E '
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<br /> ,.,,
<br /> i, THI3 MORTGAGE,mad'e and executed this � day of �,fu"� A D
<br /> � 19..�.�..,b�etween the Mortgagor, ,Steyen_S._„Sipitheram,and;_Patti.7 __Smttheram,,,husbasid „___._, ;
<br /> , •---a,nd..wifea...�ointlY..and each.in..Cheir,own riSh;ti ........ ......... ........ ......... ......... ,
<br /> ; ...
<br /> `; of ......Grand__Is land.._.., County of ......Ha,l l.... . ............State of.,---Nebraska.....,hereinaFter x'eferred " .
<br /> to as the Borrqwer, and the Mortgagee, FIRST FEDERAL SAVINGS AN'D LOATV ASSOCIATIQN OF
<br /> LIIVCQLN, 1235 ``N"Street, I:inaoln, Nebraska 68501, its successars and assigns; hereinaftkr referred Lo
<br /> as Lenden
<br /> F
<br /> ' i WITNESSETH That the said Borr�wer for and in consideration of tihe sum Qf �N'�X k'OUIi:.........__ � ' -
<br /> ' .:T{iOUSAND,SEVEN IiUNDRED �'IFTY,AND.NO/100, - --..:..-.-------Dollars (US�---�.4,750 OQ..................) -' ' .' '
<br /> paid by said Lenrier, does hereby mortgage, grant and convey to Le�nder, its successors and a.ssigns; the
<br /> � following described propetty]oaated in the CounCq of ...............�11 .....__._.__..._.., Stabe of Nebraska: `
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<br /> � Lot F`ive (5), �lock Eight (8), in T�i3..1 and Hvston's Addition tq the City
<br /> � of Gxazid Island, Ha71 County, Nebraska.
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<br /> � Toc�rxeR with all the improvements now or hereafter ereeted on the pmperEy, and all easements, ,,
<br /> rights, appurtenances, rents, royalties, minerai, oil and gas rights and profits, water, waber rights, and , ,d
<br /> � water stocic,and all fix.f.ures now or hereafter uttathed tio �he property, all, of w•hich, including replace- R
<br /> menta,and additiona thereto,shall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the fosegoing, together with said property (qr the leasehold estate in the event thi.c ,
<br /> 1Vlortgage is on a leasehold? are heYein referred to as the "Pmperty".
<br /> � Borrower covenants that Borrower is lawfully seised of £he estate hereby�nnoeyed and has t'he n'ght ;
<br /> � to mortgage,grant and convey the Property, that the Property is unencumbered, and that Borrower will l,
<br /> wartanE and defend generally the title to the Pmperty 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) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> .t �.PEOVIDED ALWAY3� and these presents are executed and delivered upon the following conditions,agree- .� .
<br /> ments and obligations of the Borrower, to-wit: i '
<br /> ';
<br /> � The Borrower agrees to pay to the Lender,or order, the principal sum of..._.�TY..FQIIS_SSQUSADID �
<br /> � ...SHVEN..H1zNA�__�Ik'TX..d�`ID..I391_lOo-.----_----r._-----.-----.-�ollars (US$---�.4-,.7_�Q..09..................>
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> :.� if not sooner paid, on the......-�--�s�....---....day of------•---lkpril�--�-----�--.......-�--� �--�998 � ;'
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<br /> 'f Uatsoert CovExnivTs.Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Prin«pal�d Iateresi. Borrower shall promptly pay when due the principal of and in-
<br /> : tereat 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 /> t' 2. Fvnds for Taxes and Insurcmee. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> � rower shall pay to Lender on the day rnonthly installments of principal and interest nre 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 attsin priority over this Mortgage, and ground rents on the Property,if any plus
<br /> one-twelfth of yearly premium installments for hazard insurance, pins one-twelfth of yearly premium in-
<br /> ,� stallments for mortgage ineurance, if an�, 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 /> to pay said�azes, assessments, ineurance premiums and ground rents_ Lender shall make no charge for so
<br /> '� holding and applying the Funds or verifying and compiling said asse.asments and bills. The Lender chall
<br /> .I 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 Funda was made. The Funds are pledged as additional �t
<br /> aecurity for the sume secured by this Mortgage.The Borrower agrees that the Funds may be held by the
<br /> Letider and commingled with other fuada and the Lender's own funds and the Lender may pay such items ,,,�...,,_,_
<br /> from its owa funds and the Lender shall not be liable for interest or dividends on such Funds. � .
<br /> � Tf the amount of the,Ft�nds held by Lender,together with the future monthly installments of Funds •F;�
<br /> �� payable prior to`the due dates of tazes>'aseessments, insurance premiums and ground rents, shall exceed , �'��-,
<br /> , the a:nount=eqUired topa y said taaes,�sse�esaments,insurance premiums and groimd rents as they fall due, �^� ,
<br /> '• auch exeess shail be,at Borrower's option;eitIier promptly repaid to Borrower or credited to Borrower on a�;,
<br /> y mon�hiy�'mstallmeri�s of Tunds. If the amounti of the Funds held by Lender shall not be sufficient to pay ;» ,,.,<
<br /> ,"q taaes, aeaessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender �'� � `y
<br /> -? sriy amopnt necessary'to_make up ttxe deficiency witi�thirty days after notice from Lender to Borrower
<br /> '� zequesting p�yment thereof, or Borrower ahalI, by an increase in monthly inatallmentg of Funda required,
<br /> j?� repay the;'deficiency within the Fund accounting period:
<br /> �n Upon payment in fuli of all'sums secured by this Mortgage,Lender shall apply Funds held as a credit
<br /> ' against all sums due.
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