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<br />!NDlVlDIJAL.
<br />DlJE ON SALE
<br />OPT!©NAL Ft?T1.112E ADVANCES
<br />SAVINGS FLfNC
<br />FQRti No. 720
<br />Loan Number___40462 __-__198 _-_ Z __
<br />Type B,an~~+
<br />~ CJ ~C ~ G ~+ ~ G
<br />rilS'vivnT{iAGE; :Wade and executed-this _.-.-..-...~-------------_ day of ......~!~`-a'~------------- A-g•>
<br />I3. ~~_.., between the Mortgagor; -....~P:?:?Y..?~~-- ~?erritt--and-.Barbara. J,--'~ferrittx--husband-,and-.----
<br />._~,?f~~..~-97.ntly.--and..ea~h..in.-their- awn- right,.........- - - - .......- ---- - ~--- ---- -- -.....- --...- ---------
<br />o# ...Grand--Island.,....---., County of -.-Ha17_-.-.._------- --------- State of .Nebraska_-....., hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 69501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />R'7TNEa`SETFI: That the said Harrower far and in consideration of the sum of -.THIRTY-.SIX.T~OUSAND
<br />- -X112..Iv0LIQ0...------------------..----.----.-----------.- .Dollars EITS c~_36,g00-.04.--....-__...__.-)
<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 ...._-._~a~.l.._-------------------_, State of Nebraska:
<br />The Easterly Forty-four Feet (E44') of Lot Three {3} in Block "A`" of Boahm`s
<br />Subdivision, being a part of the Southeast Quarter ($E~) of Section lb, Township
<br />II North, Range 9 West of the 6th P.1;., Hall 4ounty, Nelaraska
<br />TOGETHEE with all the improvements now or hereafter erected on the property, and all easements, -
<br />rights, appurtenances, rents, royatties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br />-- meats and additions thereto, shall be"deemed to be and remain a part of the property covered by this
<br />k?artgags; a^.d all of the foregoing, together with said property {or the leasehold estate in the event this
<br />Mortgage is on a leasehold} are herein referred to as the "Property".
<br />Bar_*ower covenants th;tt Borrower is lawfully seised of the estate hereby conveyed and has the ril,:.
<br />to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all cL.vims and demands, subject to any
<br />easemant~ s=d restrictions Listed in a schedule of exceptions to coverage in any title insurance goliey in-
<br />s~~ing Lender's interest in the Property, or {2} attorney's aginion of title from abstract of title certified
<br />by bonded abstracter.
<br />Paovtvso ALWAYS, and these presents are executed and delivered upon the fallowing conditions, agree-
<br />menu and obligations of the Ilarrawer, to-wit:
<br />The Harrower agrees to pay to the Lender, or order, fhe prncipal sum af --_'F11~.Ii~%_~I~_'~4USdPiD..
<br />- -- -_ _ 36,flfl0 00
<br />._-ALID..13L2(.IOD....-..---`-.--------r.._.----.-------e-.-------_Dollars {US 5 ----- -- ..-..e --- ---- - - ---- }
<br />payable as gmvided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, an the ..------Firs.t...._ day of -._--._,~pri1.------------..._._, A~X-20.04
<br />fiJxtaoxat COVEI3AI3T9. Harrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Harrower shall promgtly pay when due the prncipal of and in-
<br />terest an the indebtedness eFZdenced by the Mote, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on-any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to Lender's option under paragraghs 4 and 5 hereof, Bor-
<br />rower shall pay to Lender on the day monthly installments of principal and interest are payable-under the
<br />Note, until the Note. is paid in full, a sum ;herein "Funds") equal to one-twelfth of the yearly taxes and
<br />assessments which may attain-priority aver this 3lartgage, and ground rents an the Property, if any plus
<br />one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly prenunin in-
<br />stallittenGs for mortgage insurance, i# any, all as reasonably estimated initially and from -time to tune by
<br />Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall-apply the Funds
<br />to pay said taxes, assessments, insurance premiums and ground rents. bender -shall make ita charge for so
<br />holding and applying -the Funds yr veri#ying and compiling-said assessments and bills.. The Lender shall
<br />give Ea the Borrower, without charge, an annual accounting o€ the Funds showing. credits and debits to the
<br />Funds and the purpose for which-each debit to the Funds was -made. The Funds era pledged as additional
<br />security for #.he sums secured by this: Mflrtgage. The Borrower.-agrees that the. Funds-may be held by t-he
<br />I:ertdsr and comnvngled with other #unds and. the Lender's pwn funds and the Lender may pay such -items
<br />€rom its -awn #unds and the Lender-shall not- he Iialile. for itferest or .dividends on such Funds.
<br />! I€ {~lza .oun~ of the F`~.inds h:1d'by I~esder, together with the futurr~ monthly installruants of Fvads
<br />L- psyt~ble prior to the due dates of lases, asses~imeuts, , insurance -premiums and ground .rents, shall exceed
<br />the amount required to r~s said taxes; aes~suaents, insurance premiums and grround rents as they fall due,
<br />suctt excess sludl -lie, at Borrower"s option, eiClier pmtxiptly repa?d to Btirmvvar or credited to Borrower on
<br />rzusrttitly fxistallmetits o€ wads. I#-the amouzit o€ the -Funds held by I;Paader skull clot be sufficient to pay
<br />taxes, assessments, insurance prerriiums and g~urtd :teats as -they fall due, Borrower shall pay to Lender
<br />any axnvun± nee~s,~ry to -make up .the de€tetency within thirty. days after`notfcE -from Lender m Borrower
<br />requesting- payment- tfier~iif, or Borrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficiency within the Ftutd acrauntittg period.
<br />. Upon payment in full of all sums secured by this Mortgage! Lender shall apply- Funds held as a credit
<br />sgamst all sums due.
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