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<br /> IfVDIVIDUAL
<br /> DUE ON SALE '
<br /> OPTIONAL FUTURE ADVANCES
<br /> �■ SAVINGS FUND
<br /> j ��`_' FORM N0.7'LO : ��
<br /> � , �'ry Loan Number__36133 __-_188 _-__1
<br /> Tyve Boncn
<br /> '.>.:� . . . . . .
<br /> •' 78- 00239� jV1 O R T G A G E
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<br /> ` THI$ MORTGAGE,made and executed this .__..._..�5................ day of ......_...��-�._......_...._.A.D.,
<br /> , 19.��._,between the Mortgagor,..�arr.el--J•.---Pavalk,a,...a..�s3.nS7.e...P�X:s.o�?..........-•--•...............................•-
<br /> r ••--•--•---•-•--••--•-•------------••..........................••--...--•--.....-••-----------��------.. . .._..........-•-----..............-----�--..._...-•------•---•-----•
<br /> --._.. .
<br /> ;; of...Gran.d_.Is_land..--.-.----, County of -.---Ha�,�------•..................State of...sN.ebraska_.....,hereinafter referred
<br /> to 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: T}]flE t}10 S51C1 BOI7'OWCL PO! and in consideration of the sUm of ..THIRTY. SIX..T�OUSAND �� . :�
<br /> ' ..._..EII7�_HUNDREI�._FORxX./.�NP..�I0�100----r.----.--.-----_-----.�ol.ars (US$....36_,540 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 ....__...�11.. ._.., State of Nebraska: } -
<br /> ,' Lot Six (6), in Island Acres No. 7, a Subdivi.sion of part of Fractional Section
<br /> i Seven (7); part of the West Ha1f of the West Iialf (WZi+T2) of Section Eight (8); ,
<br /> � and part of Lot Twenty-Four (2�+), Island Acres, a11 in Township Eleven (11) North,
<br /> Range Nine (9) West of the 6th P.M., in the City of Grand Is]and, Ha11 County,
<br /> Flebra s'aa.
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<br /> TOCETHE6 W1tI1 8II tFiB improvements now or hereafter erected on the pmperty, and all easements, � �
<br /> rights, appurtenances, rents, royalties, mineral, oii and gas rights and profits, water, water rights, and `:
<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 leasehold) are herein referred to as the "Property".
<br /> j Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> i to mortgage,grant and convey the Property, that the Property is unencumbered, and that Borrower will �
<br /> � warraat 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 coverage in any title insurance policy in- X
<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 /> , �; PaovinEn ALWAYS� and these preaents are executed and delivered upon the following conditions,agree-
<br /> 'ij
<br /> ments and obligations of the Borrower, to-wit:
<br /> �' The Bonower agrees to pay to the Lender, or order, the principal sum of_.xH�.�SC..S�..xH.QUS.AI3A..._ ' '
<br /> _..FI9E__HUNA�,D.�Q�t�..A..N?)_NO/100----------------------Dollars (US$--36.�S.4Q.UU..----....__......_.) �
<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--•-----•1s-t_...--•----- day of....--��-•---Ma-Y-._._...-•----•-��-----� �•-��7 -" ;
<br /> �' UxzFoxrc Cov$xnr�Ts.Borrower and Lender covenant and agree as follows:
<br /> 1. Paymeat of Priaapal�d Iaterest. 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 /> j. 2. Funds for Tmces�d Insur�ee. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> rower shall pay to Lender on the day monthly installments of principal and interest are payable under the
<br /> � i: Note,until the Note is paid in full,a sum (herein "Funds") equal to one-twelfth of the yearly taues and
<br /> aaseasments 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 inaurance, if any, all as reasonably estimated initially and from time to tirne by
<br /> Lender on tfie basis of assessments and bilis and reasonable estimates thereof,Lender shall apply the Funds
<br /> ; to pay said taaes,assessments,insurance premiums and ground rents. Lender shall make no charge for so
<br /> ;' holding and applying the Funds or verifying and compiling said aacessments and bills. The Lender shall
<br /> ,� give to the Borrower,vinthout charge,an annual accounting of the Funds ahowing credits 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 /> E, aecurity for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br /> I:ender'and comxningled with other funds and the Lender's own funds and the Lender may pay auch items
<br /> `�: from its'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 '%
<br />` payable prioz to;the due,dates of taaes,assessments, inaurance premiums and ground rents, shall exceed `
<br /> �:�.
<br /> �,. ; the amount zequiied topa y said tasess aseessments,insnrance premiums and ground rents as they fall due, € �„
<br /> �' ,.,� 'such eacesa.shatl be,at Bo,rrower's optioa;either promptly repa�d to Borrower or credited to Borrower on �''
<br /> g- monthlp';;iastallm�afs of`�nds_'If the amount'of the Funds held'by Lender shall not be sufficient to pay �'�
<br /> r taaes;"aseessi?►ents;�insurance:premiums"and ground rents as they fall due, Borrower shall pay to Lender �`;w.�- `""�:`
<br /> I� any'amounttnecessary to-make up the'de&ciency within thirty days after notfce from Lender to Borrower "'"" - �"N".
<br /> ;; z+equesting payment tliereof; or Borrower'sliali, by an increase in monthly installments of Funds required.
<br /> repay the deficiency:within the Fund accounting period. .
<br /> k` Upon payment in fuII of alt sums secured by this Mortgage,Lender shall apply Funds held as a credit
<br /> t against all snms due. �
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