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<br />~40587026
<br />
<br />This form is used in connection
<br />with mortgages'insured under the
<br />one. to four.famiiy provisions:- of
<br />the Nation'al Housing,Act.
<br />
<br />
<br />83~o02c740
<br />
<br />MORTGAGE
<br />
<br />THIS MORtrOAOE, made and executed this 26th
<br />1~3' ,byandbelWeen, James A. Clayton and
<br />husband; ... arid wife
<br />oftbe(,;ountyof Hal J;
<br />the!\fwlllagor, aildAmerican Charter Federat
<br />
<br />day of May
<br />Corinne F. Clayton,
<br />
<br />, and State of Nebraska, party of the firslpart, bereinafter called
<br />Savings and Loan Assn.
<br />
<br />,A.D.
<br />
<br />a corporation organized and existing underlhe laws of the Uni ted States of America
<br />party of the second part, hereinafter called the:Mortgagee,
<br />
<br />WITNESSETH: Thattbe said Mortgagor, for and in consideration of tbe sum of
<br />FIFTY THREE THOUSAND ONE HUNDRED and 00/100 Dollars ($ 53,100.00 ),paidbytbeMOrt-
<br />gagee, the receipt of wbich is hereby acknowledged, bas Granted and Sold and by tbese presents 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 tbe County of Hall ,and State
<br />of Nebraska, to wit:
<br />
<br />Lot Three (3), Block Four (4), Olde Mill Subdivision,
<br />City of Grand Island, Hall County, Nebr~
<br />
<br />;'
<br />
<br />
<br />,/
<br />,
<br />
<br />
<br />acres according to Govern-
<br />
<br />TO HAVE AND TO HOLD the premises ab!:"" described. with all the appurtenances thereunto belonging and including
<br />all heating, plumbing and lighting fixtures and equipment now or hereafter allached 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 the
<br />Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever; and the said Mortgagor here-
<br />by relinquisbes all rights of homestead, and all martial rights. either in law or in equity, and all other contingem interests of the
<br />Mortgagor in and to the above-described premises, the intention being to convey hereby an absolute tille, in fee simple, includ,
<br />ing all rights of homestead, and other rights and interests as aforesaid.
<br />
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions. to wit:
<br />
<br />The M(j{tgagor agrees to pay to the Mortgagee, or order, the principal sum of
<br />FIF:t'Y ~.E THPlISAND ONE HUNDRED and 00/100 Dollars ($
<br />
<br />53,100.00
<br />
<br />).
<br />
<br />
<br />with interest from date at tbe rate o!ELEVEN AND ONE. HALF per centum ( 1 L 500 %) per annum on
<br />tbe unpaid haI~~ce until paip, The said principal and inlerest sban be payable at the office of
<br />America,lil Charter Federal SavingsaJ1,d Loal1 Assn.
<br />. in Lincoln, Nebraska ,or at such olber place as the holder or
<br />tbe ~temay designate in writing, in montbly installments of FIVE HUNDRED TWENTY SIX and 22/100
<br />Dol!ars($ 526.22 ), commencing on the lirst day of
<br />July . 1~3 . and on the first day or each month thereafter until the principal and in,
<br />leresf areAully paid, except that the final paymem of principal and interest, ifoot sooner paid, shall be due and
<br />\'llyallle on tbe first day of June . 2013 ; all according to tbe terms of a certain promis.
<br />sory note <)f even date here\1(uh executed bylbe said Mortgagor.
<br />
<br />The MOrll!1l&9rinorder mllre fully to pt<)tecttbe security of this Mortgage, agrees:
<br />
<br />1, T~h~\1(ilfpay the inPebtedness.ashereinhefore provided, Privilege is reserved to pay the debt in whole, or in an
<br />aB)..ollnt Cllul\I.\O one oi mOre monthly lnfyments on the principal that are next due on the note. on the first day of any month
<br />prior ~ ~tuJity: Provided, hQwever, That written notice of an intention to exercise such privilege is given at Jeast thirty (30)
<br />days pri()f \Opr~ayme!lt.
<br />
<br />2, ~l;~tb~r",it!l, and ill ll<1<1ition to,the.montbly payments of principal and interest payable under the terms of the
<br />II.,*,. SI>~~(!p:y,llle. /l4ortgl!g9r.willpay to the Mortgagee, on.the first day of each month until the saill note is fully p:,id, the
<br />fO~\1(i~li~A; ....
<br />
<br />tal
<br />
<br />
<br />to ptQ~lde the hptder h."eofwith funds to pay the nex.t mortgage in,umnc. p,,'mium if this
<br />ll!!te 1el'ured hetebya",insur<:(!, (ll a monthly ebarge (ii, lieu of a mongage insurance pre,
<br />by tile Secre\liry of fjousil1&alld Urhan o.:velopment. as follows
<br />
<br />(1)
<br />
<br />~f 'W~__~_l~~_i-~ Mi~_'l?~P~,,~t_~v<!n_,d~te and tltis_tO$1rUIDcnt are m:sun:-d (.n. an: l~i.mllf{'d UIlIJCl the pru-
<br />
<br />Vlfio~ r>( i& Natjqnll!ll"usilll! Act, analJlOllnt .suffiClent to accumulate H' the hands "f ,he jwldCl on"
<br />
<br />
<br />ST A Tf OF NE6RA$KI\
<br />HurHlZ143M 19 191
<br />1]4 efn ;,.'OC\ 150)
<br />
<br />~ FHA~'2_'4.1M< Whf.ch Mwt e.: lJttd Un'Ji ~'Y i, f.'f14-Us1ttd
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