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<br />tN~IVt~uAL
<br />L1UE t9N SALE
<br />'~ OPT1U4gAt. F'U'i'URE ApVANCES
<br />SAVINGS FUN©
<br />L ~ Faak ~a.~za _
<br />Loan Nun?ber__4uuu3„__T'_1$8_-----I--
<br />TYVa 2prancn
<br />M®RTC;I~GE
<br />THIS IvfORTGAGE, made and executed this _..._... -:~~ .............. day of .....~~.,.~:~-_...._....._ A.Dy
<br />1~-..~~..X".., between the Mortgagor, _.-.Aruold._W.._Obst-ard._Gladys,-A.-- Obst, husband and wife}
<br />.._~oint;ly,-and_.each_in__their-.own right;-.,_ ...
<br />of --- Grand_Island__----.., County of ..Hal7......_ .............----.., State of ..13.et!ra~iCu-_._.-, hereinafter referred
<br />to as the Borrower, and the I4Yortgagee, FIRST FEAEI2AL SAVINGS AND LOAN ASSOCIATIaN OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska liS501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />~Vtxea~.si;rx: That the said Borrower for and in consideration of the sum of ...'15?i'k1~X-0.N]a ...............
<br />.._T=1QISSABiII..Dl3E..H1JNA.IiEA...E'xETX..AIfJ?_~IQLI.QQ--------.-----:dollars (US ~--;i1.,.ISQ.Q.O.-,_.._..-.....:-)
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />following described property located in the County of ..._....-...Ha.II,.-_-..._ ............. State of Nebraska:
<br />Lot Two (2}, Block One Hundred Twenty-three {123}, Union Pacific Railway Company's
<br />Second Addition to the City of Grand Island, Hall County, Nebraska
<br />TOGETHER with all the imr~.ovements now or herea#ter erected on the property, and ail easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and pmfrts, water, water rights; and
<br />water stock, and ail fixtures now or herea#ter attached to the property, aIi of which, including repeac:..-
<br />ments and additions thereto, shall be"deemed to be and remain apart- of the property covered by this
<br />Mortgage; and alt of the foregoing, together with said property (or the leasehold estate in the event this
<br />fvYortgage is on a leasehold) are herein referred to as the "Property".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed end has the righi
<br />to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend gcneratly the title to the Property against all claims and demands, subject to any
<br />easements and restrictions listed in a schedule of exceptions to coverage in any -title insurance policy in-
<br />suring Lender's interest in the Property, or {?} attorney's opinion of title from abstract of title certified
<br />by l~rnded abstracter.
<br />PaoreaEa ALWAYS, and these presents are executed and delivered upon the foIIorc:ng conditions, agree-
<br />ments and el;ligatia:ts of the Harrower, to-rc~it:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of ..T1~~1'1'X-ONF..THOUS.AND..,.
<br />__-.ONE.~IG-13UREA_~`l;~X..AND._tf4110Q----.----------.-----_-_ Dollars {LT$x"..21,150.00...-...-._..._...)
<br />payable as provided in a note executed and cIefivered, concurrently_ herewith, the final payment of principal,
<br />if not sooner paid, on the -.._..-Pi's-at ....... dac of .-.December , ... _..-----.._._.., 1f~.200?
<br />Ut«aFCre!~t CovFxnxrs. l3nrrower and bender covenant. and agree as follows
<br />I. payment of Principal aad Interest Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on any Future Advances secured by this LYartgage.
<br />2, Funds for Taxes sad Instu~ee. Subject to Lender's option under paragraphs 4 and 5 hereof, Bar-
<br />rower shall pap to Lender on the day monthly installments of principal and interest are par,=able under the
<br />l`lote, until the Nate is paid in full, a sum (herein "Funds"} equal to one-twelfth of the yearly taxes aad
<br />assessments which tnay attain priority over this _"vortgage, and ground rents on the Property, if any plus
<br />one-twelfth of yearly premium installments far hazard insurance, plus one-twelfth of yearly premium in-
<br />staIlments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Lender an the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay said taxes; agsassmenta,~tt,:anca premi,~ms and ground rents. Lender shat ma?ca na charge far ~
<br />holding and applying the Fiords ar verifying- and compi)i,~g said assessments and bills. The Lender shall
<br />give to the Borrower, witho~_+t cha*ge; ari annual accounting of the Funds shc~~ing credits and debits to the
<br />Fuxtds and the Purpose for which-each debit to the Funds was made: The Funds are- pledged as additional
<br />secarity #or the sums secured by this ivfo;tgage: The Harrower egress that the Funds may be held by the
<br />Lender and-commingled with other funds and the Lender'aown funds-and the Lender may pay such items
<br />fron•.: its ocvn funds and -the Lender shall not be liable for interest ar dividends on ouch Funds. -
<br />- If-..the amount of the Funds held by Lender, together with- the fittvre monthfy installments of Funds
<br />payable- prior to the' due dates of taxes; aiasessments, insurance premiums and ground rents, shall exceed
<br />the amount re~izired to say-said taxes, assesstaenta; insurance premiums sad ground rents as they fall due,
<br />sash excess sh€tll be, at Horro~vez's option; either promptly repaid tm Horruwer or credited to Borrower on
<br />monthly instalhesents of Fonda. If the amount of the Funds held by Lendei shall not be sufficient to pay
<br />taxes; assessments, .insurance premiums and ground rents as they-fail due; Harrower shall pay to Lender
<br />any amsaunt nece[tsary to ntake up the.defleiertcy within thit'ty days after notice from Lender to Borrower
<br />reiluesting payment therea#, or Borrower shall, lijr an increase in monthly installhents of Funds required,
<br />repay the deficiency within the Fund accounting period.
<br />Upon payment lie full of aA sums secured by this Mortgage, Lender sha}1 apply Funds held as a credit
<br />against all sums due.
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