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C ~PJ` -`°~ v ~f ~ -~' ~ Zf INDIVIDUAL DUE ON SALE OPTIONAL FUTURE ADVANCES SAVINGS FUND Foam No. 724 Loan Number___k0683 __-_ 199 _-__1 __ TyOe Bunch tV_(~ R `i' ~ A G E TIiIS MORTGAGE, made and executed this _..._.._..1~.-_....-._- dsy of ._-. --_- .-CG~Y....__.._ R.D., 19..x`}'..., between the Mortgagor, .. Larrg_G..- Link_and,.M3rcia-.K.-.Link,-. hush.,.- d..and- wife:--.-._.- _jointly.and..each-.in,.their..own_right, .-. .. of .._._Grand-.Island--.-_ County of ...--Hall------------------------ State of -_-_ Nebraska,...-~ hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. V4tTxsssE2x: That the said Borrower for and in consideration of the sum of ._.~RTY-- SIX-.THOUSAND _-FIVE.-EiUNDRED.-AND.I~O%1.00_-.---.--.-------------------:Dollars (US $..46-,500.00..-..........-.---..) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of ___._..-..Hall....-____....._-, State of Nebraska: Lot Five (5}, P,avensaood Subdivisi~t, Hall Calmly, Nebraska TacerasK with all the improvements now ar hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, a:,ct water stuck, and all fixtures now or hereafter attached to the property, all of which, including replace- si>nts and additions thereto, shall 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 Ieasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower covenants that Borrower is lawfuIly seised of the estate hereby conveyed and has the right to mort_~*age, grant and convey the Property, 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 coverage in any title insurance pa&cy in- suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified b_v bonded abstracter. Ptiovtti€a Ai.ways, and these pmts are executed and do'uverau ut^c, rn the fallawiag eanditiares, agree- ments and obligations of the Borrower, trrv-it: The Harrower agrees to pay to the Lender, or order, the principal sum of .-.Ft1XTY-._SI%-THfJ17~AAP?D.._. -~ bfi 506 00,.-__-_-...-----) ---FLYx..H1TSIAIi)rU..ANA-..NOJI-O~---------.-----------°-.-.----.Dollars (US 8---..~._....~...-, payable as provided in a note executed and deLvered, concurrently here~~rith, the final payment of principal, if not sooner paid, on the -- ----i.;,t-......... day of ...... _~r.eh-.._ _-_.. _ - ----, 1~_2ot~4 Uxti''oaix Covxxnx~rs. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and in- terest an the indebtedness evidenced by the Note, prepayment and ?ate charges as provided in the Note, and the principal of and interest on any Future Advances secured by this IViortgage. 2. Funds for Taxes and Inauixmee. Subject to Lender's option under paragraphs 4 and ~ hereof, Bor- rower shall pay to Lender on the day monthly installments of principal and interest ate payable under the Note, until the Note is paid in full, a suns (heroin "Funds") equal to one-twelfth of the yearly laces and assessments which may attain griority aver this Mortgage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus one-twe?fth of yearly premium in- stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender Cn the basis of assessments and bills and reasonable estimates thereof, 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 Harrower, without charge, an annual accounting of the Funds showing credit.: and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the ' Lender and commingled with other funds -arid the Lender's own funds and the Leader may pay such items Imm its own funds and the Lender -shall not be liable for interest or dividends on such Funds. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates-vf fazes; assessments,. insurance premiums and ground rents, shall exceed . the-amount required to pay said taxes, asgessmeata; insurance premiums and ground rents as they fall due, such excess shall be, at Hotzower's option; either promptly repaid to Borrower or credited to Harrower an moxithly tastatlmeats of Furtds. If the amount of -the Funds held by Lender shall not he suftic~ent to pay taxes,"assessments, insurance" premiums and -ground rents as they fall -due, Borrower shall pay to Lender any amount necessary to make up :the sleficiertcy within thirty days after notice from Lender to Borrower requesting payment thereof, or "Borrower shs11, by an increase in monthly installments of Funds required, repay the deficiency within the Fund acrountnrag period. Upon payment in full of all-sums secured by this Mortgage, Lender shall apply Funds held as a credit against ail sums due.