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F Fl~ INDIVIDUAL DUE ON SALE OPTIONAL FUTUF2E ADVANCES SAVINGS FUND FORM No. 720 i _ loan Number. 373,.4 -____ 188 ___ _e a _~ (t~OF2TGAGE THIS MORTGAGE, made and executed this __._.-._.~~ ................ day of -.._~?~`~---_--....----...- A.D., 19..7--., between the A4ortgagor, ---S.tevgA-.li°---~a-nnson. and..Ginger--1?,---Johnson,---lluaba~nd...a?t~t..c,~fe, ointl and each in their..own., right,---...-...------------------°--....._...----.........---.-°-°.. .. ........ ---.._.........j.------ .Y-...- --~- ---- -- --....... - of _..-.. Grand .Island.-----, County of ._-_....~all.-.....--.,__-..-, 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. WFTNESSETA: That the said Borrower for and in consideration of the sum of _T.l~h'TY_ FIVE.-THOUSAND ........arm..NO1.1oa--.-----.-----.-------------------------Datlars (us ~ ...2~, (~D.n..oo._....--- -- ..) paid by said Lender, does hereby mortgage, grant and convey to Lander, its successors and assigns; the following described property located in the County of ._._-....Hall-.........-._..--..._-., State of Nebraska: Lot Five (5}, in Block Eighty-three (83), in Wheeler & Bennett's Fourth Addition to the City of Grand Island, Hall County, Nebraska. T~E'rHxe 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 rig'-' €,nd water stock, and ail fixtures naw 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 alt of the foregoing, together with said property (or the leasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed aad has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will wartartt 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 policy in- suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified by bonded abstracter. P~ovarl~u ALWAYS, and these presents are executed and delivered upon the following conditions, agree- ments and obligations of the Borrower, to-wit: The $orrower agrees to pay to the Lender, or order, the principal sum of .T4?E??Ty.-~i~--THOUSAND,,. 0 i00-- -- - 25 000 00 ------- --- - -- --- - ..._ ANB...N..../.-..---.._-......---...-------- -~, ~- ._' -- - - ... _-- - Dollars (U S....-- _ r....- =........ - - -- gayabie as provided in a note executed and delivered, concurrently herewith, the fi~al payment of principal, if not sooner paid, on the ---.....~7.X'St.---... day of .._._....APnl ................._....., ~-- -0..0.4 Uxttoern C¢vaxAxrs. Borrower and Lender covenant and agree as follows: i. Payment of Principal and interest. Borrower shall promptly pay when due the principal of and in- terest on the iandebtedness evidenced by the Note, prepayment and late charges as provided m the Note, and the principal of and interest on any Future Advances secured by this Mortgage. Z. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall gay 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 a# yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in- staIlments for mortgage insurance, if anY, all as reasonably estimated initially and from time to time by Lender on 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 aad compiling said assessments and bills. The Lender shall give to the Borrower, 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 was made. The Funds are pledged as additional security for the sums secured by t'nis Mortgage. The Borrower 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 from. iffi own funds and the Leader-shall not be liable for interest or dividends on such Funds. If the amount of the Funds held by Leader, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the amount-required to Y said taxes, asaeastnents, insurance premiums and ground rents as they fail due, such excess shall be, at Bvrrowxr"s option, either promptly repard to Harrower or credited to Borrower on monthly -installments- of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments,.insurance premiums and gmund rents as they fell due, Horrower shall pay to Lender any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower requesting payment thereof,-or F3orrower shall; by an increase m monthly installments of Funds required, repay the deficiency c4fthin the Fund accouating period. Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held as a credit, against all sums due.