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<br /> IfVDIVIDUAL
<br /> DUE ON SALE
<br /> �RS'■' OPTIONAL FUTURE ADVANCES
<br /> � �� SAVINGS FUND
<br /> ( � FORM N0.720 ( .
<br /> V��-N Loan Number_ 36501 — 188 — 1
<br /> . ���_��T__—�__�_ � .
<br /> YVe B��nG1f .
<br /> 78- ���3298 . MORTGAGE
<br /> i THI$MORTGAGE, made and executed this... . ....3�.............. day of ...........��'�`. A.D.,
<br /> �t----------------
<br /> 19_7�..,between the Mortgagor,.Jamea__L._.Jacobsen.and Patricia A. Jacobsen,� huaband and_
<br /> 1 ,wife�._jointly,__and_each_,in their own_rig�ht, __. ______.. ._
<br /> ....._ ..... .._---.... ---•�-� --•----- --------- . --• •---
<br /> -; of .Grand..�alaad...... ...., County of ...Hall........ . ...........State of..t7�b.r.askA........,hereinafter referred
<br /> ; to as the Sorrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter refened to
<br /> as Lenden
<br /> . WITNE53ETH: TFl8t t}12 said Borrower for and in consideration of the sum of�TETTI.X..FIYk..T�ULTS.AND . . . . � "
<br /> ' i ......S7Y.�IIJHI�RED..F.IFT1'..ANA..2IQ/.1fl.U--r-.-----r.-----rr.-.-rr..-..Doltars (US$25...fz�Q...O.Q-....................)
<br /> paid by said Lender, does hereby mortgage, grant and convey to Lender, i�s successors and assigns; the
<br /> ' following described property located in the County of ......H�a.l........... ............. ... State of Nebraska:
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<br /> Lot Four (4), B].ock Seventeen (17), Fairview Park Addition to the
<br /> City of Grand Island, Hall County, Nebraska.
<br /> � TOGETHER W7CFI all the improvements now or hereafter erected on the property, and all easements, ;' � � .
<br /> rights, appurtenances, rents, toyalties, mineral, oil and gas rights and profits, water, water rights, and
<br /> water stock, and all fiatures 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 /> Borrower 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 Pmperty 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 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 abstracten
<br /> �' PROVIDED A[,wwYs, and these presents are executed and delivered upon the following conditions,agree- �- � � �
<br /> � ments and obligations of the Bonower, to-wit:
<br /> The Borrower agrees to pay to the Lender, or order, the principal sum of .T[�NLY._EIVE..T�.IISANLl..
<br /> ..SIY_.Ht7DID8ED..FSFTY_A�ID._NQ/.1DQ--rrr.--r-r.-rrr.r..--r.---cr.r..Dollars (US�-.25.,6�Q.UA..--•-_---------••--•)
<br /> payable as pmvided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> , if not sooner paid,on the--�---�1_St.--�---...... day of..._....JUn,e...............----........,�4�9.._2007
<br /> ' UN[FORM COVENANTS. BOI'lOWBL Blld I.C71fj@C COV@IIflilt ffi1CI agree as follows:
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<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. Fuads for Taxes and Insuzcmce_ Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> ` mwer shall pay to Lender on the day monthly installments of principal and interest are payable under the
<br /> j Note, antil the Note is paid in full,a sum (herein"Funds") equal to one-twelfth of the yearly taues 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 yearly premium in-
<br /> stallments for mortgage insurance, if any,al1 as reasonably estimated initially and from time to time by
<br /> Lender on the basis of assessmenta and bills and reasonable eat.imates thereof, Lender shall appiy the Funde
<br /> to pay eaid taxes,assessments,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 biils. 'I'he Lender shall
<br /> g�ve to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the y
<br /> Funds and Lhe purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> eecurity for the s�s secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br /> Lender and commingled with other funde and the Lender's own funds and the Lender may pay such items �- � '
<br /> from ita own funds and the Lender ahall not be liable for interest or dividends on such Funds. �?` � ',
<br /> ;� If the amount of the Funds held by Lender,together with the future monthiy installments of Funds z .
<br /> payable.prior to the due dates of taa�s,sesessments, insurance premiuzns and ground rents, shall exceed z;'
<br /> 6he amount required topa y said taaes,assessmenta,insurance premiums and ground rents as they fall due, �
<br /> auch ezcess shall be,at 8oriower's option,either promptly repaid to Borrower or credited to Borrower on i` �''�
<br /> '' monthly instslltnents oi Funds. If the amount of the Funds held by I.ender shail not be sufficient to pay "'� ',��,
<br /> tsxea, aseessments, insurance premiume and gronnd rents ae they fall due, Borrower Rhall pay t� Lender • � ---
<br /> any amount necessery to make up the deficiency within thirty days after notice from Lender to Borrower
<br /> requeating payment thereof, or Borrower ahaII,by an increase in monthly installments of Funds required,
<br /> repay the deficiency within the F'and accounting period.
<br />� Upon payment in fnll of all sums secured by this Mortgage,Lender shall apply Funds held as a crediL �
<br />� against all sums due.
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