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INDIVIDUAL
<br />DUE pN SALE
<br />OPTIONAL FUTURE ADVANCES
<br />SAVlNCiS FUND
<br />F6RM No. 720
<br />loan hlumber__40112___-''_188_____ 1
<br />7yp~ Branch
<br />_}
<br />THIS MORTGAGE, made and executed this .__._...~._ ............. day of .. ~...-..------ A.D•,
<br />29. ~~_., between the Mortgagor, ...-li~A7KY-- S~b??~~I- aid-~h~r1 ~"- Schnell,-,husband. and.. wife,..-_..
<br />....ao~n.~~Y- and..e~ctt..zn...the~r. ovn. right. --~ - -..... - ~ - --..._-...---~--
<br />_---, State of Nebraska__.-__.-, hereina#ter referred
<br />of -...GT.iip..d.-Island__----., County of _--Ha11.._-.......-...
<br />to as the Borrower, and the Mortgagee, FIRST F' ~DERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 2235 "N" Street, Lincoln, Nebraska t,S502, its successors and assigns, hereinafter referred to
<br />` as Lender.
<br />WITNESSETH: That the said Borrower for and in consideration of the sum of .FQRTY-ONE ...................
<br />..-_TH.QUShI3k.._~WQ.-tLU.~II?.A7'1?.-AND..N01.100----------------.---rpollar; (LTS $.4I,-200,.00....-------------.-)
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />fallowing described property Located in the County o# ...._.__?~all-_.---_ ............... State of Nebraskan
<br />Lot Eleven (11), Freedom Acres Subdivision, Hall County, Nebraska
<br />This is s corrected mortgage to correct mortgage filed February
<br />23, 1979 as Dasument No. 79-000969.
<br />fia.t>Tttea with all the improvements now or hereof#Qr erected on the property, and all easements,
<br />rights, appurtenances, rents, royal; ies, muneral, oil and gas rights and profits, water, water rights, and
<br />water stack, and ail fi3ctures now or hereafter attached +.o the property, all of which, itaciuding replace-
<br />ments and additions th~eeto, shall be deemed to be and remain a pail of the property covered by lion
<br />Mortgage; and 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 />Borrower covenants that Borrower is iacvfully seised of the estate hereby conveyed and has the righi
<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 claims and demands, subject to any
<br />easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy ;as-
<br />suring Lender's interest in the Property, ar (2) attorney's opinion of title from abstract of title certified
<br />by bonded abstracier.
<br />Paovtasn Aswnvs, and these presents aze executed and delivered upon the fallowing rnnditions, agree-
<br />ments and obligations of the Borrower, to-apt:
<br />The Borrower agrees to pay to the Lender, or order, the principa] sum of -- kORTX-ONE..TII~USA3~.----
<br />-°---- '
<br />_?~~-.laulan?..a.~m. rlol.ioo-.-.--------------..... - ------'Douars (us b...4.1.z0o,.ao.......- -
<br />payable as provided in a note executed and delivered, concurrent.h~ herewith, the final payment of principal,
<br />i{ not sooner paid, on the .._......ls-t-.----_. day of ..-.Apr-i1_-..._..-...._ _ _..}Cl~-.200,
<br />L~xtt=oeakt Covtixnxxs. Borrower and Lender covenant and agree as follows:
<br />1. Fapmeat of Priacipa2 trod IntQrest. Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the Nate, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on any Future Advances secured by i.ui~ Mortgage.
<br />2 Ponds for Taxes and lnsurcmce. Subject to Lender's option under paragraphs 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 />Nate, until the Note is paid in full, a sum (herei*_t "Funds") equal to one-twelfth of fine yearly taxes and
<br />assessments which may attain priority over this A4ortgage, and ground rents on the Property, if any plus
<br />one-twelfth of nearly premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br />atalhnents for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Lender an the basis of assessments and bills and reasonable estinsates thereof, Lender shall apply the Funds
<br />to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no chazge for so
<br />lmlding end applying the Funds or verifying and compiling said assessments and bills. The Lender shall
<br />give to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the
<br />Funds and the pu.-gone for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br />Lender and commirtgled with other funds and the Lender's own funds and the Lender may pay such items
<br />froin its awn funds and the Lender shell not be liable for interest or dividends on such Funds.
<br />7f the amount of the Funds held by Lertder, together with the future monthly installments of Funds
<br />payable prior t4 the due dates of taxes, assessments; insurance premiums and ground rents, shall exceed
<br />the amount required to -pay said- tales, assessments, insurance premiums and ground rents as they fall due,
<br />such excess shall be, at Borrower's option, either gmmpfly repaid- to Borrower ar credited to Borrower on
<br />monthly instal}inexits of Fonda. If the acnourit of the Funds held by Lender shall not be sufficient to pay
<br />taxes assessments, insurance premiums and ground-rents as they fall due, Borrower shall pay to Lender
<br />any amount necessary to-make ug tlxe de_ftciency withfn thirty days after notice from Lender to Borrower
<br />requesting payment thereof, ar Borrowex shall, by an increase m monthly installments of Fords required,
<br />repay the deficiency within the Fund accounting period.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held as a credit
<br />against atl sums due.
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