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STATE OF NEBRASKA
<br />FHA FORM NO. 2143M This form is used in connec-
<br />(Re*December 197�)
<br />tioll with mortgages insured
<br />MORTGAGEu.nder the one- to four-faniiiy
<br />provisions of the National
<br />010866 Housing Act.
<br />THIS MORTGAGE, made,�nd executed thi�' day of
<br />A.D.
<br />19 75 byanabetween James L. Peterson, asingle person
<br />of the County of Hall and State of Nebraska, party of the first part, hereinafter called
<br />the Mortgagor, and FIRST F E DERAL SAVINGS AND LOAN ASSOCTA TION OF LINCOLN : . I
<br />a corporation organized and existing under the laws of the United State's
<br />party of the second part, hereinaf ter called the Mortgagee,
<br />WITNESSETH: That the said Mortgagor, for and in consideration of the sumo.'f FIF' TEEN THOUSAND SIX HUNDRED FIFTY
<br />AND N01100-7 ------------------------------------- Dollars ($ 15,650 - 00 ), paid by the Mort- i
<br />gagee, the receipt of which is hereby acknowledged, has Granted and Sold and by these presents does Grant, Bar-
<br />gain, Sell, Convey and Confirm unto the Mortgagee, its �uccessors and 'assigns, forever, the following -described
<br />real estate, situated in the County of Hall and State
<br />of Nebraska, to wit:
<br />Lot TTael '(12) in Bl6c*k One (1) in Beter H6mes Subdivision,
<br />ve
<br />'.being a subdivision of Lots Four.(4), Five -(5), six (6) and
<br />.-the North 38.3 feet of Lot Eight (8) in BlQ& One (1) of
<br />-William Frank Additio��-to the City of Grand "Island, Hall County,
<br />Nebraska.
<br />of the Sixth Principal Meridian, containing in all acres according' to Govern-
<br />mentsurvey:
<br />TO HAVE AND TO HOLD the premises above described, With all the appurtenances thereunto belonging and includigg
<br />all heating, plumbing and lighting fixtures and equipment now or hereafter attached to or used in connection with said real estate
<br />unto the Mortgagee, and to its successors and assigns, forever. The Mortgagor represents to, and covenants with, the Mortga-
<br />gee, that tile Mortgagor has good right to sell and convey said premises; that they are free from encumbrance; and that tile
<br />Mortgagor will warrant and defend the same against tile lawful claims of all persons %0ionisoever; and the said Mortgagor here-
<br />by relinquishes all rights of homestead, and all martial rights, either in law or in equity, and all other contingent interests of the
<br />Mortgagor in and to the above-described premises,. the intention being to convey hereby an absolute title, in fee simple, includ-
<br />ingall rights of h6mestead, and other rights and interests as aforesaid.
<br />PROVIDEDALWAYS, and these presents are'executed and delivered upon the following conditions, to wit:
<br />The Mortgag . o r agrees to pay to tile Mortgagee , or order, the princi al sum 0 1 FIFTEEN THOUSAND SIX HUNDRED
<br />FIFTY AND.NO/lOO ----------------- -- Dollars(S 157510-00 with interest from
<br />date at the rate of . ht and. orte—lia;Lf per ceniturn 8.50 %) per annum on
<br />P51
<br />tile unpaid balande unti?l d. The said principal and interest shall be payable at the'office Of First Federal SavIngs and
<br />Loan Assodiation of Lincoln
<br />. in Lincoln or at such other place as the holder of
<br />the note.may designate in writing, in monthly installments of One -Hundred Twenty and 35/100 -------------
<br />----------------------------- Dollars ($ 120 .35 commending on the first day of
<br />Deeeinber I al � 19 75, and on -the first day of each month thereafter until the principal and in-
<br />terest are fully paid, except that tile fin, ayment of principal and - interest, if not soonef paid, sliall be due and
<br />payable on the first day of November 2005, all according to the terms of a certain promis-
<br />sory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor in order more fully to protect the security of this Mortgage, agrees:
<br />1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an
<br />amount equal to'one or more monthly payments.on the principal that are next due on the note, on the first day of any month
<br />prior to maturity: Provided, however, That written notice of an intention to exercise such privilege is given at least thirty (30)
<br />days prior to prepayment.
<br />2. That, together with, and in addition to, the monthly payments of principal and interest payable under the terms of tile
<br />note secured. -hereby, the Mortgagor will pay to the Mortgagee, on the first day of each month until the said note is fully paid, the
<br />following sums:
<br />(a) An amount sufficicrit to provide the holder hereof with funds to pay the next mortgage insurance premium if this instrumcniand the note secured hereby
<br />arc insured, or a monthly Fharge (in lieu of a mortgage insurance premium) if they are held by the Secretary of Housing and Urban Development, as fol.
<br />lows:
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