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iiVDIYiaUAL
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<br />~t~~ ~t FBRM /+20.720
<br />~~ Loan Number__41Q43__---_1__-- _18--
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<br />7g--t~~20~3 M_O R T G A G E
<br />THIS MORTGAGE, made and executed this ........llth_-_.._..,__._ day of ........April-___. _---_.---Art,,
<br />1_ between the 1;Iartgagor CCiNiINENIAi.--VILLAS,--I.'1;D.
<br />0 79 ---> > - --
<br />of _ Grand- Island ............. County of -------Hall_-------------.---- State of Nebraska---- . ., hereinafter refeaed
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />, LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WITNSSSETx: That the said Borrower for and in consideration of the sum of .....ONE MILLION SEVEN
<br />- - -------------
<br />--IIU~II2KED-SE4rTN'IYr.FIV~_.'1'HO[15ANp..AND-NOI1Q0..---------.Dollars (L'Sut._1,775,000.00-.------.---)
<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 --.......Ha.l.l ............................ State of Nebraska:
<br />All of Block Four (4), Continental Gardens, an Addition to the City
<br />of Grand Island, Hall County, Nebraska,
<br />TocETxea with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, royalties, 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 />ments and additions thereto, shall be deemed to be and remain a part of the property rnvered by this
<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 file "Property".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to martgage, grant and convey the Property, that the Progeny is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all claims and demands, subject tca any
<br />easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br />suring Lender's interest in-the Properly, or {2) attorney's opinion of title from abstract of title certified
<br />by banded abstracter.
<br />PEOVLDED ALWAYS, and these presents are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, to-wit:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of ONE:1~4I)~1,ION. SI:y.FI'l..H..l?N.PP.ED
<br />_...---SEUY-B.LV.E._THOUSAND..ANI2..NO~a.QR..r..------rr.-------.Dollars (US $...1,7.7;i.,000.Q0 .............)
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, on the --..f.I:rst-.-....-..-_ day of __.-.. MaY.--_-. _......____......, 1999._.
<br />UxtFOamt COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. 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 />2. Funds for Taxes and Iasuraace. 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 />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 over this Mortgage, and ground rents on the Property, If any plus
<br />one-twelfth of yerr?y premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br />atallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereaf, Lender shall appl}• the Funds
<br />to pay Bald taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br />holding and applying the- Funds or verifying and compiling said assessments and bills. The Lender shall
<br />gyve to-the $orrower, without charge, an annual accounting of the Funds showing credits and debits to the
<br />Funde-and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />,,, security fbr the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br />-• Lender and commingled with other funds and the Lender's own funds and the Lender may pa}• such items
<br />_ from its own funds and th_ a Lender shall not be liable for interest or dividends an such Funds.
<br />If the aDOOUnt of the Funds held by Lender, together with the future monthly instalments of Funds
<br />tl p43ral'tTe prwr #ei the due dates of teiai+ee, aaeeeatbertts, insurance premiums and ground rents, shall exceed
<br />ilia atnouut required tart y said texas, amenta, insurance -premiums and ground rents as they fall due,
<br />such e~..eeaa Mall , at~er'v option, ~t pt~tmptly to Borrower or credited in Borrower an
<br />rrtortthl~ i~ta~L-nsnt~,. of 'F-ttadg. It tlsa arttou~t of the Eundsn~•Id by Lander shalt not he sutficiant, to pay
<br />axes e•sc~±*nan+_.~, ix~urc~ pritt ground re~tt€s as tl'-ey fall dne, Borrower shall pay to I,encter
<br />'.lr2y .ar3t- ne:..'°°°a',}` to kn..#° '~ *w° d~.,€`~t~ .tl`.1~~'- tl'~-t`y d.°.yq aft°r .^tY(~. ft•t~m I-Y..~! =r to °s ;.-`:•'s`r....
<br />requea#aiag t~vment ti,@ra.~t~ ar n.,.:.vxrai emit, Dy an intreaae in monthly installments of Funds requireds.
<br />r~ty the deficiency witliln the Furtd acettttttt3ng period.
<br />Upon paymctnt In full of all surntc secured by this 14IQrtgage, Lender ~Jiall appli Funds hc~la9 as a rrrcht
<br />against all sums dtte,
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