|
R:
<br />This Instrument Prepared by:
<br />Leader Federal Savings & Loan Assoc.
<br />P.O. B= 275
<br />Meaoph% TN 88"i -OWS
<br />1
<br />89-_ 101203
<br />MORTGAGE SECURING OPEN-END HOMEOWNER CREDIT CARD
<br />AGIREEIIENT
<br />This Indenture made and entered into this day of �, 19� by and between
<br />Ukhtasl J. COW and wife; Deborah S. Cleary (" Borrower'), and Leader Federal Sa and Loon Association, Memphis,
<br />Tennessee ("Mirregsg ae").:...
<br />THE MAXIMUM AMbLZtIT OF PRINCIPAL INDEBTEDNESS FOR Nebrmka RECORDING TAX PURPOSES IS $3000;
<br />which is the "Credit Line":
<br />WITNESSETH: That for and in craa"rstion of credit extended and to be extended by Mortgagee to, Burrower, said
<br />Borrower has bargained and odd and does hereby bargain, sell, convey and confirm unto Mortgagee together wick power and
<br />right of sale the following described real estate &msted and.being in Hall County, State of Nebraslsa`(whigh ante is
<br />hereinafter referred to as "State "), which is the same property described in instrument 86. 008748 filed is sfnrp�munty:
<br />Lot 113, Bishop Heights Subdivision, Hall County, Mbnol:a.
<br />- -- evl:iriz; �s t?•w �dreas of: 49x3 She. wed, Grnnd Island, RL 58803
<br />TO HAVE AND TO HOLD, unto the Mortgagee, its successors, and ass:;,. the aforedescribed revs estate (hereinafter the
<br />"Ptsrgirty "), together with all the hereditaments and appurtenances thereunta belonging or in- any wae-appertsiaisrg unto the
<br />said Mortgagee, its successors and assigpa,,. in fee simple forever, and the said Borrower des hence covenant wMh the said
<br />Morpgee, his successors and asdgn4 that Ma over is lawfully seized in fee of the afar. .-3escribe -& TWI ester; east he has a
<br />good eght to sell and convey the same; V.-=t the come is unencumbered, except as disclosed herein seed t2rzt fire title and quiet
<br />pooseak= thereto he will and his heirs and ierscnal mpresentatives shall cvarmat and forever defend o t" lawful claims
<br />of 63 persons.
<br />The property herein conveyed is encumbered; by the lien, of a mortgage recorded in the aforesaU Q=y as instrument
<br />number 85406749 and it is a condition of this instume:it that in the event crony default in any of the im-ma and conditions of
<br />ssidi prior mortgage, or in the event of any default is rely of the terms and conditions of any other mortgage, or any other docu.
<br />ment, the lien of which may be or become prior and paramount to the lien of this instrument; then in every sae's event the
<br />whole same of the principal and interest rf"tNe Indebtedness segued by this instrument shall, at the option of t:r:e Mortgagee,
<br />become immediately due and payable and this mortey- maybe foreclosed at once.
<br />But this is a mortgsge and is made for the to2awing uses and purposes, and none other, that ba say: the said Bor.
<br />rvuh is justly indebted to, Lauder Federal Savings and Loan Association, Memphis, Tennessee ( "Lea&r Fe4em )y as evidenced
<br />by a certain Leader Fedeml Savings and Loan Association Homeowner Credit Card Agreement and Disc':r. r� Stuutement (the
<br />"Leader Agreement") of even date herewith executed by Borrower and payable to Leah- -r. Federal. Ada=axa =!a and credit
<br />extended by Leader Federal to or on behalf of Borrower shall be repaid in morit'ht%yy irataltments of zrt; less than the finance
<br />4W,Vs imposed on the Bomwefs account during the billing cycle and the cfter cL-sV-a imposed in ac =rdance with the term
<br />X,d'w Leader Agreement. U Borrower pays all of the Indebtedness at the times emd in the manner set forth herein and does
<br />WA performs all of the other obligations herein assumed by Borrower and if the Leader Agreement has been terminated for any
<br />reason, then upon the owv&nce of all Co foregoing, the above conveyance shall be null and void; otherwise to remain in full
<br />force and effect.
<br />THIS MORTGAGE rLc" PUTIM ADVANCES PURSUANT TO THE TERMS OF AN OPEN END CREDIT
<br />AGREEMENT IItZMEEN 12AXER L- IIE'T -CAL AND BORROWER, WHICH OPEN END AGREEMENT IS THE AL'ORESAID
<br />LEADER AGREEMENT; the future ei- m-ices secured hereby are secured to the same extent and as if said fuwm advances
<br />were made by Leader Federal contemporaneously with Borrower's executive of this mortgage even though no a ia,'anz is made
<br />at the time of Borrower's execution of this mortgage and even though no indebtedness is outstanding at di tL-�. -zy is
<br />made. In addition to securing the payment of the Indebtedness herein mentioned, this instrument Flurll 4a& sci,2* tha pay.
<br />went of any and all renewals of the obligation, or any portion thereof, together with any and all addid,.ral amasntx that Bor-
<br />rower now owes or may owe Mortgagee, either directly or by indorsement, at any time between this date and the satisfaction of
<br />record of the lien of this instrument, including any and all future advances and/or loans that may be m ado by Mortgagee to Bor.
<br />rower. jointly and/or severally, either directly or by indorsement.
<br />1
<br />0
<br />�ll
<br />ti
<br />t'7
<br />r�.tt
<br />
|