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This form Is used In connection wtth mor1gugcs Insured under the one.to four-family provisions of the National Housing Act. I MORTGAGE 88- 101082 THIS MORTGAGE. made and executed this between 4th day of March . A,D, 1988 , by and husband and wif~! jointly i ht and each in tnelr own r g , . and the State of Nebraska. party oT the first part. hereinafter ASSnr.TATTON OF T.TNr.m.N Gerald E. Smith and Elizabeth J. Smith, of tho County of Hall called the Mortgagor, and FIRST FEDERAL SAVINGS ANn T.OAN a corporation organized and existing under the laws of second part. hereinafter called the Mortgagee. The United States of America . party of the Forty Thousand Nine Hundred and no/l00 Dollars ($ 40900.00 1. paid by the Mortgagee. the receipt of which 15 hereby acknowledged. has Granted and Sold and by these presents does Grant. Bargain. Sell. Convey and Confirm unto the Mortgagee. its successors and assigns. forever. the following,described real estate. situated In the County of Hall , and the State of Nebraska. to wit: WITNESSETH: That the said Mortgagor. lor and in consideration of the sum of The Westerly Forty Feet (W 40') of Lot Two (2), in Fractional Block Seventeen (17), in Charles Wasmer's Addition to the City of Grand Island, Hall County, Nebraska. of the Sixth Principal Meridian, containing In aU city property acres according to Government survey: TO HAVE AND TO HOLD the premises above described. with all the appurtenances thereunto belonging and including all heating, plumbing and fighting fixtures and equipment now or hereafter attached to or used In connection with said real estate unto the Mortgagee. and to its successors and assigns. forever. The Mortgagor represents to. and covenants with. the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they are free from encumbrance; and that the Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever; and the said Mortgagor hereby relinquishes all rights of homestead. and all martial rights. either in law or in equity. and all other contingent interests of the Mortgagor in and to the above-described premises, the intention being to convey hereby an ab, solute title. in fee simple, including all rights of homestead. and other rights and interests as aforesaid, PROVIDED ALWAYS. and these presents are executed and delivered upon the following conditions. to wit: The Mortgagor agrees to pay to the Mortgagee. or order. the principal sum 01 Forty Thousand Nine Hundred and no/100 Dollars($ 40900.00 ), with interest from date at the rate of Ten per centum( 10.000 %} per annum 01"' the unpaid balance until paid. The said principal and interest shall be payable at the office of Firs t Federal Savings and Loan Association of Lincoln in Lincoln. Nebraska . or at such other place as the holder of the note may designate in writing. in monthly Installments of Three Hundred Fifty Eight and 93/100 Dollars($ 358.93 }. commencing on the first day of May . 1988 , and on the first day of each month thereafter until the principal and interest are fulti' paid. except that the final payment of principal and interest, if not sooner paid. shall be due and payable on the first day of Apri 1 2018 ; all according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor. L The Mortgagor in order more fully to protect the security of this Mortgage. agrees: 1. That he will pay the indebtedness. as hereinbefore provided, Privilege is reserved to pay the debt, in whole or in part, on f1ny inst&lIment due date. 2, That. together with. and in addition to. the monthly payments of principal and interest payable under the temls of the note secured hereby. the Mortgagor win pay to the Mortgagee. on the first day of each month until the said note is fully paid, the following sums: Paoe 1 01 3 STATE OF NEBRASKA 'iUD 9}'43M 19.79;