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C~r~~ ~t3~" ~3 ~ ~ ~~ INEyIVIf]UAL dUE QN SALE OPTIONAL FUTURE A17VANCES SAVINGS FUNt7 FnsM No. 720 Loan Number__40034___ __188_ __1__ - ~ TYa @rsnch M ©R T G A G E THIS MORTGAGE, made and executed this ......:-./.~..._......-_.. day of -...........4.!~ ............... A.D., 19..~~}.., between the Mortgagor, _....b?i17.;I.am..A.,..I.xtt~Q~zt_~Ad..,~oF~y.. A,_.Lincolns-_hu;:8and- apd-_,-. ____wffez._,j_ointly._and_ each,_in .their- own right, of -...Grand.. Island-_--....., County of .---Hall----- .--- .............. State of -._. Nebraska--,-., hereinafter re#erred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 685()1, its successors and assigns, hereinafter referred to as Lender. WiTxESSETx: That the said Borrower for and in consideration of the sum of -..FIFTY=NIIdF......._._.. .....Tlis?US~IT?- 91?l*.-1tl1NA- EIGHTY-AND-_ NO(10.4-------------Dollats (USw...59,,180. t10--___-----.---.. ) 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 -_..._..$all-__-------------_------, State of Nebraska: Lot Ten (10), Block Four {q}, Olde Mill Subdivision, City of Grand Island, Hall County, Nebraska Tocsrxsa with all the im~mvements now or hereafter erected on the property, and all easements, rights, appurtenances; rents, royalties, mir:era}, oil and gas rights and profits, wa#£r, water rights, and water stock, and all fixtures now or hereafter attached to the property, alt of which, including replace- ments and additions thereto, shall be deemed to be and remain a part of the property covered by this PSartgage; and all of the foregoing, tagethar with said property for 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 hereb}~ conveyed and has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower wilt warrant and defend generaIly the title to the Property against all claims and demands, subject to any easements and restrictions listed in a schedule of exceptions to wverage 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. I'aovror=r~ Arwnvs, and these presents are execn'~,ed and delivered upon the fallowing conditions, agt~- ments and obligations of the Borrower, to-wit: The Borrower agrees to pay to the Lender, or order, the principal sum of _ FI.F.T`.1-NI".~i8-.~Ot?BANA:_ -..OSIf;..I:tUPTDRED.- EIGHTY..AND..ND/14fl-------..-------------~3oilars {US $---..5-9:><$Q.,.fkA....__..._-....) payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal, if not sooner paid, on the .._..---First...---.. day of .. apri.l--....___.......-._._..., 1S9C_2D99 Uxrroax Covtsxsxrs. 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 e~~ideneed by the lvTOte, prep~vment and isle charges as provided in the Note, and the principal of and interest ar. any Fature Advances secured by this '~'Iortgage. 2. Funds for Taxes and 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 fnTi, a sum therein "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 far hazard insurance, plus one-twelfth of yearly premium in- stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and hills and reasonable estimates thereof, Lender shall apply the Funds ~ paY said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so holding and appl}dng the Funds or verifying and compiling said assessments and bills. The Lender shaA grve to the Harrower, without charge, an annual accounting a# 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 far the sums secured by this 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 snch items from its own funds, and the Lender shall not be liable for intermit or dividends on such Funds. if the atnount of the Funds held by Lender, together-.with the future monthly installments of Funds paYakile prior ta`the due dates of lases; assessments; insurance premiums and ground rents, -shall exceed the amouWt required to pay said taxes; assessments, insurance premiums aril ground rents as they fall due, such-excess shall be, at Bormwar's optao3t, either promptly re d to Borrower or credited to Harrower on mclnthly ittstallrrtents of Fnsrds. If the amount ts# the Funds held by Lender shall not be sufficient to gay taxes: assessments; insurance premiums ersd ~raund rents as they fall due, Borrower shall pay to Lender m?Y amount necessary #a :Wake-up the deficdency within thirty days after notice from Lender to Borrower requesting payrrtent thereof, or Borrower shall,. by an increase in monthly installments of Funds required, repay the deficiency-within Ilse Fxiad accounting period. Upon. payment in -full of ail sums secured by this Mortgage, Lender shall apply Funds head as a credit. against all sums due.