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<br />- -This .torsi is. usedin. corinec-
<br />4 tion with mortgagee insured
<br />MORTGAGE under the ease- to four-family
<br />prOCisions- of the Vat.iona'
<br />Housing Act.
<br />82--~~~4185 -
<br />THIS:MORTG.~GE, madeand executed this 24~ day of September } ~
<br />19 82 ; by and between 3ames S'. Reed and Precious A.-Reed, Husband and L'7ife
<br />of the County of - Hall - ,and State of Nebraska; party of the first part, hereinafter called
<br />the Mortgagor, and , Superior Mortgage, Inc.
<br />a corporation organized and exi tingunder the laws of Nebraska
<br />party ofthe second pan. hereinafter c211t;dthe hfortgagee.
<br />W`ITNESSETi-[: That Ihesaid Man agar. t"or and in consideration of the sum of Twenty; five thousand four
<br />htutdred fiftq and No/100ths----_~~_ Dollars (S 25, 450.:00 ). paid by the ~tort-
<br />gagee. the, recerpt: of which is Hereby acknowledged, has Granted at,d Sold and. by these:, pzesents does Gant. Bar-
<br />gain. Sell; Canvey and Canfirm_ anto ahe .Mortgagee, its-successors- and assigns, forever, the :fallowinc-dc>cribed
<br />real estate. situated inthe County of ~ Hall.; and State
<br />of \ebraska. to wif:
<br />The .West. Sixty feet (W60') of Lot Six (6) and the West. Sixty feet
<br />(W60') of the North Six feet {N6') o£ Lot Seves (7), in Block Ten
<br />{10) of Packer and Barr°s Addition to the city of Grand Islam ,
<br />Ball County,:: Nebraska
<br />of the Sixth Principal M1fendian; enntaining in a}I acres according ro Guvcrr,-
<br />mentsurvev-
<br />TO H,4Viw 4ND TO HOLf)the premises abovedescribed. w~+.'~ all the appurtenances thereunt ~ Fei<inging undincluding
<br />ail heating, plumping and IigMing fixtures and equipment saw nrhereafter attached to orused in ionnecuon with said real estate
<br />unto the Mortgagee, and ui its suncesu>rs and ensigns: forever.: The Mongagor represeuts tul and i uvenants with. the DTOrtga-
<br />gee,that,the Martgagor.has good right ttr self andconvey said premises: that theyare freefrom encumbrance; Tndthat'[he
<br />Mortgagor will warrant and defend thesame itgainstlthe tawfulciaims of altpersons whomsuever,and the said Mongago:here-
<br />by relinquishes alirights of. homestead. and all martini rrghts,Yither lnlaw or in equity; 2nd aliother contingent interestsaf the
<br />~tortgagurn and tci [he abave-described premises. the intentiim heirtg !o ctrnvev `s;ereby an absrilute tttle,'in fee sintpie, includ-
<br />ingall rights of homestead, ~md tither rightsa~d interests as afnresard.
<br />PROVIDED ALWAYS. and'these presents are exewted .md delivered upon the f;itlow ing conditions. to wife
<br />The htortgagoragrees to Pay to tfie Martgagee.or order, the principal cum aI Twenty five thousand four
<br />htutdred fifty and No/100ths- - r 17o;lar. t> .25,450:00
<br />wrth uuerest tram date at the rate ut Fo»xteen her ~cn[um { 14:00 ~ }per annum. on
<br />the unpaid. balance until paid. The saidprincipai and interestshal6be payable at the clf6ce of ` Superior Mortgage,: Inc -
<br />in Gratui Island, NE , or at such other place as the holder of
<br />the note may designate in wasting; in monthly. instaltmenta of Three hundred one and 55/100ths--------
<br />Dollars (5 301.55 y, commencing on the first dayof
<br />Npo~~~ .1982. , and on the first day of each month thereafter until the principal and in-
<br />terest are fulty pa3; eticept Ehat the 6na1 payment of principal and interest, if' not sgoner paid, shall be iiue and
<br />payable on the firs[ day of p~a~ 2~12 ;all according to the terms of a certain promis-
<br />sory note of evendate fierewi[h executed by the said Mortgagor.
<br />The Mortgagor ihorder more fully to: protect the security of this Stortgage, agrees:
<br />i. Than he will pay the indebtedness, as hereirtbefore provided. Privilege is reserved to pav the debt in whole, or in an '
<br />amount-equal to one; or more monthly payments on the principal that are next due on the note; an the firsYday of any.monih
<br />prior to matun[y: Provided. however. That written notice at an intention to exercise such privilege is given at iaask thirty (30)
<br />..days prior to prepayment.
<br />?. That, together with, and in addition tn, 1he moa[hly payments of principal and interest payable undertire terms of the
<br />note secured hereby, the Mortgagor wi11 payto the Mortgagee, on the first day; of each month until the satL' note'is fully paid, the
<br />following sums.
<br />(a) Amount sufficient to provide the hotderhereof wilt funds to pay the next mortgage insurance premium if this
<br />instrument and [he not secured hercbyaze ;assured, ora.moathly,charge-/irz lieuofa rrtgrtgage'.insurance pre-
<br />mium)i€they are held by he Secretary oEHousingand Clrbatt I)evelopment,as follows:.
<br />(1} if'and solong as said no[eof even date and,thts instrument. areinsured ararereinsured.under the. pro-
<br />visions of the National Housing Act; an amouri[sufficient!is accumulate in the hartds oY the hotdet one
<br />Replaces.FHA-2743M which may tic. used until supVtY 's exhausred SZ-~T~()f''.'VF: [3fd,~~]LA
<br />HUU-92743M (9-791
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