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ihlDIVfDUAL DUE ON SALE OPTIONAL FUTURE ADVANCES SAYINGS FUND FORM No.720 Loan Number_~9~2.8____==199___.==_1.._. ~Y~P a.a„<.~ ;~._ ~zt;3t~~ ~~~~~~~~ ~: .; THIS MORTGAGE, made and executed this ..._ ................. ...~~jday of ~X,~e.r_es.t~E's-:......... A.D., 19..,~.Y-., between the Mortgagor, D-9uglas..D..-wlsuttrz...ans1. I,, ..Sue- W;<~me~,..husbamd .and..w~f:.a........ ._--jointly- and-- each_ in--their-.c~wn_righ*.-._._,_ of __ Grand--Island..._-.,--__, County of Iia21.._,_.-.._..__....._ ...., State of .Nebraska-.._.._., hereinafter zeferred to as the Harrower, and the Mortgagee, FIRST FEDERAL SAE'INGS APID LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Linealn, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. Wt~rxESSeTx: That the said Borrower far and in consideration of the sum of ..FOR..TY..xtIOL'.SA>9A.__... AND.NO/100--------------°---.-------cc.-..---rr.----rr---.Dollars (US$~r.0>OO.O...QO..__..__..----_._) paid by said Lender, does hereby mortgage, grant and convey to Lendez, its successors and assigns; the following described property located in the County of ...hall.-.-._ .--.-..__.----__-._., State of Nebraska: Lot Twenty-Ttao (22), &lock Two (2), in Southern Acres Addition, an Addition to the City of Grand Islandm Hall County, Nebraska Toc3:Txex with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replace- ments and additions thereto, shalt be~deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event. this Mortgage is on a leasehold) are herein zeferred to as the "Property". Borrower coveaaists that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Propertv, that the Property is unencumbered, and that Harrower will warrant and defend generally the title to the Property against all claims and demands, subject to any easements and restrictions listed in a schedule of exceptions to eovezage in any title insurance policy in- suring Lender's interest in the Property, or !2) attorney's opinion of title fram abstract of title certified by bonded abstracter. Pacvtor.a Arwaxs, and these Presents are executed and delivered upon the `,'allowing conditions, agree- ments and obligations of the Borrower, to-vrit: The Borrower agrees to pay to the Lender, or order, the principal sum of .FORTY-.T_HOIISAND--AND--- - 1301=a0-._...._,..,......,-~,.,..,.-~--~.~-...-------------~--_---°--_--- Da:lars iUS S.&D.A00-.110--.,._._.._-..-_.) payable as provided in a note executed and delivered, concurrently herewith, the final pa~~rnent of principal, if not, sooner paid, on the ._.._-.isi-..._.. --- day of .__. ~anuar3: _ - ..._- __._._, ~_g(,~ U~ztFOa+s Covsxa;vrs. Borrower and Lender covenant and agree as follows: 1. Payment of Principal srrd Interest. Borrower shall promptly pay when due the principal of and in- terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this ;lortgage. 2. Funds ter Tomes surd Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds"} equal to one-twelfth of the yearly taxes and assessments which may attain priority over this :Mortgage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in- stallments for mortgage insurance, if any, aIt as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereat, Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so holding and applying the Funds or verifying and compiling said assessments and bills. The Lender shall give to the Bo~zower, without charge; an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each -debit to the Funds wns made The Funds are pledged as additaonaI security for the sums secured by this Mortgage. The Harrower agrees that the Funds may be held by the Lender and commingled-with other funds-.and the Lender's own funds and the Lender may pay such items fram its awn futrds and the Lender shall net be liable for interest or dividends on such Funds. If the amount of the Funds held by Winder, together with the #uture moathiy installments of Funds payable -prior to the due dates -af tease, assessments, insurance. premiums and-ground rents, shall exceed Lhe amorint required to pay said taxes, nRa~Q,++eirts, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option; either pmniptly repaid to Borrower nr credited to Borrower on rnon#.hIy irr~tallments of Funds. i€ the arn4urrt ~f tlia Farads hold by Lander shall nct be sufficient to pay. taxes, assessments, insurance premitnns and ground rents as they fa21 due, Borrower shall pay to Lender any amount necessary to anake up the deficiency within thirty days after native from Lender to Borrower requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, repay the deficiency within the Fund accounting period. Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held ac a credit. against all sums due.