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%'ICROFIl1JIE0
<br />:;GLENN E. HAUBO.LD
<br />ANNIE M. HAUB OLD &
<br />f THIS MORTGAGE is made this 2g - day of Anril 19 75 , between the Mortgagor,
<br />1YMOUR and _CARO ,whose address is
<br />3, ox 0- 9, Grand Island, Nebraska. 0� (herein
<br />"Borrower"), and the Mortgagee,:EVANS PRODUCTS COMPANY, a Delaware corporation, with offices at. P:• O: Box 7703
<br />Colorado SPring, Colorado 80933 i (herein "Lender") .
<br />Whereas, Borrower and Lender have executed a Construction Loan Agreement of even date (herein "Agreement") under which.
<br />Lender has made to Borrower a loan in the:amount;ofFOUR THOUSAND AND NO'/1'00--------------------
<br />-
<br />-------------..__-..- Dollars ($. 4'000. 00 )for the express purpose
<br />of performing certain work on the mortgaged premises described below; and
<br />Whereas, in connection with such Agreement. and pursuant to the terms thereof,:; Borrower has executed a.Co'ns truction Note
<br />(herein "Note") of even date''in the above Than amount payable to the Lender whereby the Borrower obligated itself to pay to the
<br />Lender the amount so advanced, plus interest as therein stated as follows: After the date of the, first advance an amount equal to
<br />interest only at the rate set forth therein on all sums advanced until and including',the first day of June
<br />19 `76 , thereafter interest at the rate set forth therein together with the principal shall be paid in 156 successive monthly
<br />installments of $ 43. 60 each, applied.first to interest and then to principal commencing on July 1, 1 76
<br />and on the first day of each succeeding calendar month thereafter unless sooner paid.
<br />To secure to Lender the repayment of the indebtedness evidenced by the Note with interest thereon as set forth in the Note
<br />(herein "Indebtedness") (and any extensions and/or renewals or modifications of such Note)., and.the payment of all other sums
<br />with interest thereon advanced in accordance herewith to protect the security of this Mortgage and the performance•of the
<br />covenants and agreements of, the Borrower herein contained and contained in the Agreement' Borrower does hereby, mortgage,
<br />grant, and convey to Lender, the following described property located in the County of Hall and
<br />State of Nebraska
<br />Lot One (1), in Haubold, Subdivision, in Hall County, Nebra ska.
<br />Together with all the: improvements now or hereafter erected on the property and 'ail easements, rights,` appurtenances, rents,
<br />royalties, mineral, oil and gas rights and proflts,'water, water: rights and water stock,'aiid.ail fixtures now or hereafter
<br />attached to the mortgaged premises, all of which, including replacements and additions thereto, shall be deemed' to be and -remain
<br />apart of the property covered by this Mtirtgage;:.and all of the foregoing, together with said property are herein referred to as
<br />the "Property"
<br />Borrower:covenants that Borrower is lawfully seised of the estate hereby. conveyed and has the right to- .mortgage, grant
<br />and convey the Property, that the Property is unencumbered except for prior Mortgage executed by Borrower to EVANS
<br />PRODUCTS COMPANY and that Borrower will:warrant and defend generally the title to the;Property against all claims and demands,
<br />subject to any easements and restrictions approved by Lender in writing.
<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as'follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when duethe principal of and interest on the Indebted-
<br />ness evidenced by the Note and late charges as provided in.the Note.
<br />2. Funds for Taxes and Insurance. Subject to Lender's option under Paragraphs 4 and 5 hereof, Borrower shall pay to
<br />Lender on the day monthly installments of principal and interest are payable under; the Note, until the Note is paid in full, a sum
<br />(herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain', priority over this Mortgage, plus
<br />one-twelfth of the yearly premium installments for hazard insurance, all as reasonably estimated initially and from time to time
<br />by Lender on the basis of assessments and bills and reasonable estimates thereof. `Lendershall hold the Funds in an account which
<br />.is insured by a Federal or State agency and shall apply the funds from said account to pay said taxes, assessments, and
<br />• insurance premiums. Lender shall make no charge for so holding and'applying the Funds; analyzing said account•or verifying
<br />and compiling said assessments and bills.: Borrower and Lender may agree in wr.i,ting at the, time of execution of. this Mortgage
<br />that interest on the' Funds shall be paid to Borrower, and unless such agreement ismade, Lender.shall not be required to pay
<br />Borrower any interest on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the: Funds showing
<br />credits and debits to; the Funds, interest, if any, paid to Borrower on the Funds and the.purpose for which eachidebit to the Funds
<br />was made. The Funds are. pledged as additional security for the sums secured by: this Mortgage.
<br />If the amount of Funds,held by Lender, together with the future monthly installments of.funds payable prior to the due dates of
<br />taxes, assessments, and insurance premiums shall exceed the amount required to'pay said taxes, assessments and insurance .
<br />premiums as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to
<br />Borrower on monthly installments of funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes,
<br />assessments, andinsurance premiums as they fall due, Borrower shall pay to Lender any amount necessary to make up the
<br />deficiency within 30 days.after notice from Lender to Borrower requesting payment'thereof.
<br />Upon payment in fbll of.all sums secured by this Mortgage,. Lender shall promptly refund to Borrower any Funds held,by
<br />Lendei .
<br />CM-GEN
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