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78865 -t -20
<br />87'- 107003
<br />The tam Is used In connatU. with
<br />mortgages Insured under the one-to
<br />touMamsy PrWslons of the National
<br />Housing Act.
<br />MORTGAGE
<br />THIS MORTWM, made and executed thh 3rd day of December AD, 1987 by and
<br />between pa ae L. Dugan a i le er n a d P ttrick E. D a and
<br />Lela M. Dugan,'husan� an� w e,oinly and �Sevega y
<br />an each n their own right,
<br />of 1st Coady of Hall and the State of Nebraska, party of the first pat, hereinafter
<br />called Me Mortgagor, and FIRST FEDERAL SAVTNrS ANT) T.f1AN ASSOCTATTON OF T.Tmrf1T.N
<br />a corporation orgrtiza and existing under the laws of The United States of America party of the
<br />second part, hereitdler called the Mortgagee,
<br />WnNESSEfH: That the said Mortgagor, for and In consideration of the sum of Twenty Four Thousand Two Hundred and
<br />no /100 Dollars n 24200.00 t,
<br />paid by ft Mortgagee. the receipt of which is hereby acknowledged, has Granted and Sold and by these presents does (rant, Bargain, Sell,
<br />Convey and Confirm unto the Mortgagee, its successors and assigns, forever, the following - described real estate, situated in the County of
<br />Hall , and the State of Nebraska, to wit
<br />Lot Seven (7), of Gilbert's Subdivision of Block One (1), of Gilbert's Second Addition to
<br />the City of Grand Island, Hall County, Nebraska.
<br />of the Sixth Principal Meridian, containing Ind city property _acres according to Government survey:
<br />TO HAVE AND TO HOLD the promises above described, with d the appurtenances thereunto belonging and Including all heating, plumbing
<br />and Noting fi tuees and equipment now or hereafter attached to or used in connection with said real estate unto the Mortgagee, and to its
<br />successors and assigns, forever. The Mortgagor represents to, and covenants with, the Mortgagee, that the Mortgagor has good tight to sell
<br />and convey said premises: that they are free from encumbrance: and that the Mortgagor will warrant and defend the same against the lawful
<br />claims ofd persons whomsoever, and the said Mortgagor hereby relinquishes all rights of homestead, and all martial rights, either in law or In
<br />equity, and all other contingent Interests of the Mortgagor in and to the above - described premises, the intention being to convey hereby an ab-
<br />solute title, in fee simple, Including all rights of homestead, and other rights and interests as aforesaid.
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to wit:
<br />The Mortgagor agrees to pay to the Mortgagee, or order, the principal sum of Twenty Four Thousand Two Hundred and
<br />no /100 Dollars($ 24200.00 ).
<br />with interest from date at the rate of glriYOn per c entum( 11.000 %) per annum on the unpaid
<br />balance until paid. The said principal and Interest shall be payable at the office of First Federal
<br />Savings and Loan Association of Lincoln in Lincoln, Nebraska , or at such other place
<br />as the holder of tin note may designate in writing, In monthly instalments of Twn Rtindrpd Thirty and 47/100
<br />o 230,47 ), commencing on the first day of February
<br />1988 and on the NM day of each month thereafter until the principal and interest are fully paid, except that the final payment of principal
<br />and Interest, b not sooner paid, shall be due and payable on the first day of_ du; nnaa 9018 all according to
<br />the tams of a oaWn promissory 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 herainbefors provided. Privilege is reserved to pay the debt, In whole or in part, on any
<br />L I nstallmaN due date.
<br />2. That together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured
<br />hereby, the Mortgagor will pay to the Mortgagee, on the fist day of each month until the said note Is fully paid, the following sums:
<br />STATE OF NEBRASKA
<br />Pape t or 3 HUD • 92143M (9.791
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