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<br />Thif..form. .it'uM<\ln.o''''!iC'ljo.f.
<br />_ mortgoOel' jrlSUrectoindl!r'~.
<br />OM' '" fociMomllY~ of'
<br />~Nat_ -"lIM;.
<br />
<br />
<br />~ _If~~()~,~
<br />83-005071
<br />MORTGAGE
<br />
<br />83':- 004572
<br />
<br />THIS MORTGAGE,made andexecukd this 29th dayof August
<br />19 83 .byandberween Stephen F. Vaughn and Lori K. Vaughn, Husband and Wit.",
<br />
<br />of tile County of Hall . and State of Nebraska. parly of the firstparl,hereimlftcW~.',
<br />tile Monpaor. aDd Superior Mortgage, Inc. .. ,
<br />
<br />a corporation organized and <xi'ling under the laws of
<br />party of the second pari. hereinalter called the Mortga,ee.
<br />
<br />WITNESSETH: Thatlhe said Munsagor. for and in consideration of the sum of Fifty Thousand. Three Hundred
<br />Fifty and No/IOOths ------------------------ Oollar.($ 50350.00 ),paidby tile Mort-
<br />gagee. lhe receipt of which is hereby acknowledsed. has Granled and Sold and by'these presents does Grant;Bar-
<br />gain. Sell. Convey and Confirm unlo the Mon,agee, its successors and assi8JIS. forever. the followin'-deseribed
<br />real estate. situated in the CounlY of Hall . and State
<br />of Nebraska. 10 wil:
<br />
<br />Nebraska
<br />
<br />Lot One (1), in Block Four (4),
<br />
<br />
<br />Olde Mill SubdivIsion, City of
<br />
<br />
<br />Grand Island, Hall County,
<br />
<br />Nebraska.
<br />
<br />of lhe Sixlh Pnncipal Mendian, containing.. all
<br />ment survey:
<br />
<br />TO HAVE AND TO HOLD lhe prem"" at--_",. <le,crlbed. with all the appurtenances tbereunto belongin, and including
<br />all beating. plumbing and liabtilljl tlllur<< and equipmenl now or hereafter attached to or used in conneclion with said real estate
<br />onto-tM Mortgagc-e. 3:M to ih :'\uccehOh and ;J\~ign\, rOf~"'er, The Mortgagor represents to, and covenantswhh,lhe Mortga..
<br />gee. Ihatthe Monlr~gor bas good right 10 -.11 .nd con'e, >aid premise,; Ihatlhey are free from encumbrance: and tbatlhe
<br />Morl&agQr will warranl and defend the ..me .go.." the lawful claim' of all persons wbomsoever: and lhe said Mortgagor here.
<br />by relinquishes all rights (,f homestead. and all martial fiSh". ellher in law or in equity. and all other contingenl inlerests of the
<br />Mortaaaor in and 10 the above-deKri~d premi\_c~. the intention be.jng 10 convey hereby an absolute title. in fee simple. includ-
<br />ing aU righls of home-slead-. and other nghlS and ul(e-rest\ ~s ..foreSah.1.
<br />
<br />acres according 10 Govern-
<br />
<br />PROVIDED ALWA YS. and Ibese pre'cnt> are ...cuted .nd delivered upon the following conditions. 10 wit:
<br />
<br />1be Mortg4qor 49~". to pay to the Mortqagee, or order, the principal sum of Fifty Thousand
<br />Three. Hundred Fifty and No/I00ths -------- Dollan ($ 50,350.00 I, with
<br />int.nat f..OIIl date at tne rate of Ten & Three Tenths per centum (10.3 'I pe.. annum
<br />on the unPAid bal.nca until 9/1/86 . and thereafter at the rate of Ten and Three Quarters
<br />pes cantUII ( 10.75 " per annUlI on the unpaid balance until paid. The .aid principal and
<br />inter..t shall be payabl.. at the office of Superior Mortgage, Inc. in
<br />Grand Island, Nebraska . or at such other plac.. a. the holder of the note may
<br />de.ig.....te in ....itinq. in _thly install_nts of Four Hundred Fifty Three and 06/100 --
<br />------- Dollars ($ 453,06 ). cOll'."!ncing on th!t first day of October .
<br />1983, and on the first day of each ,""nth th....eafter untilili 8/1/86 .. and Four Hundred
<br />Sixty ~ and ~/100ths,~~~- Dollars ($ ~:-]-'t469.31 c~ncinq on the first day of
<br />,JM' Sepf~e~~~3-l986' aiM on the first day of each IlIOnth there.fter until the prinoipal
<br />.' and. interest are fully paid, except that the final payment of principal and interest, if
<br />not sooner paid, .hall be due and peyable on the first day of September, 2013. ,
<br />all- accor41ng to the terIU of a certain procaissory note of even date herewith eX8C.uted by
<br />the sud Morl9&qor.
<br />
<br />The Mortll8ll<lr in order mort fully 10 prote,ttbe 'tcurity of tblS Mongogt, agrees:
<br />
<br />I. ThaI be will pay tbe indebtedness, ., berelObefore provwed. Privileae is re,erved to pay the debt in whole, or in an
<br />_Dl eq.wloone or mofe monthly payments on lhe prindpalthal are next due on the nole. on tbe fir,l day of any monlh
<br />prior to ~aturity: Pro\'"idcd. howe'ver._That written notict of an iOlention to tAcr-cise such privilege is. given at least thirly (30)
<br />daY5 prior to prepay_nl-
<br />
<br />2; Tbal. tOSl'ther wilh, and In addition 10. (he monthly payments of principal and inleresl payable under the lerms of Ibe
<br />- seellleo<! hereby ,tbe MortaNO< will pay 10 lhe Mortll8see. on lhe first day of each montb until the .ai4note i. fuUy paid, the
<br />fuJJowlllf 5U1l1SO
<br />
<br />(1\) A.m<lutll Wffl<:ienllo prOVide the h"llk' h....of with funds 10 pay lhe next OIorllll&e msurance p'<JOIum if thIS
<br />IlUl_1t lIlldthe nolt $e(ured hereby afe ulOUJed, o. a monthly challl" li1l I,~u of. "'Vifgage insunlllce pre.
<br />IttiumJ if tltcy ar. hdd by the Sc"l<lary of HouSW8 and Urban De~iopmelll. as follows:
<br />
<br />(I) If and $0 ~.. sald nole or even date and tillS UUltumenl are in>u..d OJ are reinsured under the pro-
<br />>1$100$01' lhe N.tUu"a1llou.U\g Act. an amOUnt .uff.:;.n! to "'cumulate in Ih. hands of Ibe hulder Ofte
<br />
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