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~ INDfYlDUAL ~~~ DUE ON SALE OfyTlONAL FUTUf3E ADVANCES SAYINGS FUND t=ORM No. 720 Loan Number__ylODS___ _1f113__~_1___ ~~-. (~~~~~{~ MORTGAGE THIS MORTGAGE, made and executed this ......_.16._............_.. day of .._.....ApriL............_.._. A.D., 19-..Z9-.., between the Mortgagor, .--.Allen_L...-Botastad..and...7acc}uelina..l;..-. Samstad,--husband------._. ...and_.wife:..jointly.-and_each..in-_ their. own...right= -- °-° - - - --- -- - - -- - - .-- -- ------- ---- of ..-.ii=and...Island._.....-, County of ....Hall._-._-..._..._..._., State of _Nebraaka.......-, hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN P_SSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. WITNESSETH: That the said Borrower for and in conside*.~.tion of the sum of ._FORTY-QIIE-._.-..._.....- ----THOUSANB_EIGHT_-HUNDRED AND.-NO/100-.------------------Dvllars (US S..-41-,.800..0_........------.) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property la;ated in the County of ...... Hall.._ ......................... State of h~ebraska: All of Lot Eight (8), and the Southerly Fifteen and 'Itaenty-five Hundredths Feet (S15.25') of Lot Six {6), and the Nort~rly Three Feet (N3') of Lot Ten (10), Block Eight (8), University Place, an Addition to the %ity of GYand Island, Hall cot=tty, Nebraska TOGETHER with all the improvements noa• or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replace- ments 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 leasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower covenants that Burrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower 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 policy in- suring Lender's interest in the Property, or (2} attorney's opinion of title from abstract of title certified by bonded abstracter. PROVIDEn At,wa~-s, and these presents are executed and delivered upon the following conditions, agree- ments and obligations of tare Borrower, to-wit: The Borrower agrees to a}}• to the Lender, or arder, tho principal sum of ...FOKT-.t?Nk..11#RUS1D. .....FIGHT_.Ht1NDRED AND N0~100--------------------------'Dollars (ti5 ~_.41.,.8.QQ.,O.Q...-- -- -._._.J payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal, if not sooner paid, on the .........lst-....-_... day of ......._-..l+lay...-._._-. _.. ...-,xbE1. tIQB UNttroant CovsxAxTS. Borrower and Lender covenant. and agree as follows: 1. Payment of Principal and Ialerest. Borrower shall promptly pay when due khe principal of and in- terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this ;Mortgage. 2. Funds for Taxes and hraurcmce. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall pay to Lender on the day monthly installtents of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twcafth of the yearly taxes and assessments which may attain priority over this 1~lortgage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in- stallments for mortgage insurance, if and, 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 trS pay said taxes, ass€ments, 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 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 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 such items from its own-funds and- the Lender shall not he liable #ar interest or dividends on such Funds. If the amount of the Funds held by :,ender, together with the future monthly installments of Funds payable prior to the due dines of taxes, asseassments, insurance premiums and ground rent`s, shall exceed the amount required to y said hexes, aeaes9ments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option; either promptly repaid to Borrower 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 groausd rents as they faIl due, Borrower shall pay to Lender any amount rseces~Qary ttr m-$lte up the deffcieracy withia thirty days after notice from Lender to Borrower requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, repay the deficiency within the. Fund accounting period. Upon payment in full of all sums secured by this Mortgage, Lender shall apply F•..rds held as a credit against all sums due.