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<br />MORTGAGE
<br />
<br />This form is used in connection
<br />with mortgages insured under the
<br />one- to four,family, provisions of
<br />the National Housing Act.
<br />
<br />r
<br />
<br />88-101079
<br />
<br />THIS 'MORTGAGE. made and executed this 1st day of March ,A.D.
<br />1988 ,by and between Joyce J. Gay, a single person
<br />
<br />of the County of Uall . and State of Nebraska. party of the first part, hereinafter called
<br />the Mortgagor, and
<br />Commercial Federal Mortgage Corporation
<br />
<br />a corporation organized and existing under the laws of Nebraska
<br />party of the second part. hereinafter called the Mortgagee.
<br />
<br />09313570
<br />
<br />
<br />WITNESSETH: That the said Mortgagor, for and in consideration of the sum of TWENTY FIVE ,THOUSAND
<br />and 00/100 Dollars ($ 25,000.00 ), paid by the Mort-
<br />gagee. the receipt of which is hereby acknowledged, has Granted and Sold and by these pres~nts does Grant, Bar-
<br />gain, Sell, Convey and Confirm unto the Mortgagee. its successors and assigns, forever, the following-described
<br />real estate, situated in the County ofHal1 ,and State
<br />of Nebraska. to wit: 2204 W 5th St, Grand Island, NE 68801
<br />
<br />The Southerly Twenty (20) Feet of Lot Twelve (12), and all
<br />of Lot Thirteen (13), all in Belmont Addition to the City
<br />of Grand Island, Hall County, Nebraska.
<br />
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<br />~X:
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<br />TO HAVE AND TO HOLD the premises above described, with all the appurtenances thereunto belonging and including
<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 the Mortgagor has good right to sell and convey said premises; that they are free from encumbrance; and that the
<br />Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever; 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 intel1tion being to convey hereby an absolute title. in fee simple, includ-
<br />ing all rights of homestead, and other rights and interests as aforesaid.
<br />
<br />XDUK.~nu-
<br />
<br />PROVIDED AL WAYS, and these presents are executed and delivered upon the following conditions. to wit:
<br />
<br />The Mortgagor agrees to pay to the Mortgagee. or order, the principal sum of TWENTY FIVE THOUSAND
<br />and 00/100 Dollars(S 25,000.00
<br />
<br />),
<br />
<br />with interest from date at the rate of EN and 50/100 per centum ( 10.500 % ) per annum on
<br />the unpaid balance until paid. The saidfrincipal and interest shall be payable at the office of
<br />Commercial Federa Mortgage Corporation
<br />in Omaha, Nebraska ,or at such other jlla~e n the holder of
<br />the note may designate in writing. in monthly installments of TWO HUNDRED TWENTY EIGHT and 68/lUU
<br />Dollars ($ 228.68 ). commencing on the first day of
<br />April ,1988 ,and on the first day of each month thereafter until the principal and in-
<br />terest are fully paid. except that the final payment of principal and interest. if not sooner paid. shall be due and
<br />payable on the first day of March, 2018. ; all according to the terms of a certain promis-
<br />sory note of even date herewith executed by the said Mortgagor.
<br />
<br />The Mortgagor in order more fully to protect the security of this Mortgage. agrees:
<br />
<br />!
<br />
<br />
<br />I., That he will pay the indebtedness. as hereinbefore provided.~~~~~~
<br />~~_~~~~I~~~YllIiIrIolQjLV.J~
<br />X~~, I" JUIIDtIWUllK~ ~
<br />X~~~t. Privilege is reserved to pay the debt, in whole or in part, on
<br />anyinstallaen~ due.dat~~ " .
<br />2. That, together With, and 10 addition to, the monthly payments of pnnclpal and mterest payable under the terms of the
<br />note secured hereby, the Mortgagor will pay to the Mortgagee. on the first day of each month until the sail! note is fully paid, the
<br />following sums:
<br />
<br />(a) Amount sufficient to provide the holder hereof with funds 10 pay the next mortgage insurance premium if this
<br />instrument :lnd the note secured hereby are insured, or a monthly charge (in lieu of a mortgage illSllrtlllCe pre-
<br />mium) If they are held by the Secretary of Housing and Urban Development. as follows:
<br />
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<br />If :Ind so long a, said note of even date and this instrument are insured 01 are reinsured under the pro.
<br />visions of the National lIousing Act, an amOunt suflkient to accumulate in the hands of the holder one
<br />
<br />Replke. FHA.2t43M, Which May Bel1sed Until Supplv 's Ekh..,llt"
<br />
<br />STATE OF NEBRASKA
<br />HUO.92143M (9\791
<br />(]4 ern :'>03171,,1 ef 311
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