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INDt'4/tDUAL DUE ON SALE OP"f€flNAL FUYUf2E ADVANCES ^a~ SAYINGS FUND FONM Nc. 720 Loan Number---4115-- --~$8____-~-,- TYa e.a~« -79-r t~~2241 MOhTGAGE THIS MORa^GAGE, made and executed this ....._---i7--..--.-------- day of -------April ..................... A.D., 19....'~~.., beiween the Mortgagor, ...SteYen-J,_ Bishop_.and_Cynthia_.S,_cisnop,---husband- and._wife, ..jointly .and. each, in.. their .own. right ......... ..... of ..Grand.. Island. ,County of .. Hall.. _ --_ -..__., State of ._-Nebraska...-, hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS ANL LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. WITNES.SETH: That the said Borrower for and in consid~-.anon of the sum of THIRTY TH013SAND ,FOUR_HUNDRED SIXTY FIVE AND NO/100------------------Dol'.ars (US x._.301465.-OQ.._-_,_-_.____.) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of ._...Hall-___._ . _._._ _ . .State of Nebraska: Lot Six (6) in Block One Hrmdred Thirty-Three (133) in Koenig and L•7iebe's Addition to thz City of Grand Island Hall Cotsrty, Nebraska ToGETxs$ with all the improvements now or hereafter erected an the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and adl fixtures now or hereafter attached to the property, all of which, including replace- ments and additions thereto, shall be-deee=:ed 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 Borrower 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 bender's interest in the Property, or (2) attorney`s opinion of title from abstract of title certified by bonded abstracter. PROYtDEA ALWAYS, and these presents are executed and delivered upon the fallowing conditions, agree- ment;~ and obligations of the $orrower, to--wit: The Borrower agrees to pay to the Lender, ar order, the principal sum of -.- --Tlf1RTY THOUS!!-ND Ft3UR iIUNDRED_.~IXTY FIV~..AND NO/100 --- --- --,--Dollar, (L~~ ....30 4Ei5.00 payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal, if not sooner paid, on the -.._......3st----.-- .day of ........ggay.-_....._.........-._..... , 18x8Lro9 Uxceoxmr COVENANTS. Borrower and bender covenant and agree as follows: I. Payment of Principal trod Iaterest. Borrower shall promptly pay when due the principal of and in- terest on the indebtedness evidenced by the Note, prepayment a.~d ]ate charges as provided in the Nvte, and the principal of and interest on any Future Advances secured by This Mortgage. 2 Funds for Twtes vad Insurmrce. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall par' to Lender an 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 text's and assessments which may attain priority over this Mortgage, and ground rents on the Property, if any plus ane•twelfth of yearly premium instajlments for 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 bnsis of assessmentsg and bills and reascnable estimates thereof, .ender shall apply the Fun<is to Pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge far so bolding and applying the Funds or verifying and compiling said asseasment<g and bills. The Lender shall give td the Borrowez, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose far which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage. The 3orrower agrees that the Funds may be held by the Lender and commingled- with other. funds and the Leader's own funds and the Lender may pay such items ft+um' its own furids and the Lender shall not be liable for interest or dividends on such Funds. Ff-the anmunt of the-Funds held b;; Lender, together with the future monthly installments of Funds Payable-prior to the due dates of fazes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums-and ground rents as they fall due, such excess-shall be, at .Borrower's optima, either promptly re d to Borrower oz credited to Borrower on monthly jnstallments-of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, fnsurance Premiums and ground rents as they €all due, Borrower shall pay to Lender any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower requesting PaYttAent thereof, or Borrower shall, by an increase in monthly installments of Funds required, repay the deficiency within-the :Fund accounting period. L7Pon payment in full of all sins secured- by this Morigage, i.ender shall apply :~ unds held as a credit against all sums due.