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<br />in~eouu
<br />79- Ui~~~~6
<br />INDIVIDUAL
<br />DUE ON SALE.
<br />QPTIONAL FUTURE ADVANCES
<br />SAVINGS FUND
<br />FoaM No. 720
<br />Loan Number__~2724___==__i88_-__1__
<br />Ivlc~ F2TGAGE
<br />THIS Iv10RTGAGE, made and executed this .._.18___.._............ day of ....._-....April - ._- A.D.,
<br />19... T9.., between the Mortgagor, ....Unr.tzs...G._ ;;.her>;ill...and--Debra-. L,_-Sherrill:,-husband-.and----
<br />...w3se,.. j,ain~lg.-and..earh..in..their..Qwn ..xlSht~_..-.._._..._..._ .............._....................,......-.....-.--------------.
<br />of ..Grand..lsland.. .. ,County of _.---._Iiai.] ...._..-__- _..-, State of _ Nebraska,---_-_~ hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LIIQCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />ss Lender.
<br />WtTxtsseTH: That the said Borrower for and in consideration of the sum of ..-F.IETY.-DNE ................
<br />..SHDUSAND_AIQD..J3QL1A.0.-.----.---------.-.---'--------`:::".'~'DoIlars (US 5.--5.1,OD0..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 ................HaLt._....-.._._-.-_, State of Nebraska:
<br />Lot Zta~axtty-Nine (29) , Block Six (b) , Unit Ztao Cantirterttal Gardens, an Addition to
<br />the City of Grand Island, Nall Cotmty, Nebraska
<br />ToasTxsa with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rants, 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 covered 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 the "Property".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to mortgage, grant and convoy the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to 'he Property against all claims and demands, subject to any
<br />easemea#°. and restrickions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br />suring Lender's interest in the Property, or (_') attorney's opinion of title from abstract of title r~>rtified
<br />by banded abstracter.
<br />Pacsvtott? At,wa,t~:, and these prE~~n#~s arc: rx(x~ute(1 and delivere(1 upon the following c€snditions, agre€-
<br />manta an(i ablikatians rf the Uuerow°er, trt=wit;
<br />ThE3 $(trmwer agr~ to pay to the I~nrlkr, nr seder, the prin(~ipal sum of -FIFTY-I?N~-_T11C)l1$, - --
<br />.... NO 1.00. -- ------ -_..__--__-°-- ,
<br />...~. ~.._ ______ '' 1"lollan tl'S , S1,t3S10.0II
<br />payable as provide(i in a note executed and delivere(i, conrurr(,ally hemwi*h, fhe final paymE.nt of principal,
<br />if not sooner paid, on the lst day of blay 1S2x ~9
<br />1)NiFORM Covxtv.aNTS. Borrower and I,EVnder covenant and agree as follows:
<br />1. Pegment of Principe! sad lrsteresL Qorrower shall promptly pay when duE the principal c(f and in-
<br />torest on the ~ndehterlneag evidence(1 by the Note, preluEyment and late rhargcs as provided in the Note,
<br />and the principal cf and interest on any Future Advances secured b}• this Mortgage.
<br />~. Funds for 'faxes and Insumnae. Subject to I.ender'v option under paragraphs 4 and , herE~c,f. Ilor-
<br />rower shall pay to Lender nn the (lay monthly ittstallmenta of principal earl inters+st are payable un(ler th(>
<br />Note, until the Note is paid in folk, a xum (herein "Fundy") rclual to one-twcdith u[ fhe yearly taxes and
<br />asseaamentw which may attain priority over this lfortgage, and gnum(1 rents <rn the, Pr(>l,erty, if any plus
<br />ana-twelfth of yearly premium installments for hazard insuranc~*, plus ona•twE>Ifth of yearly pre(niwm in-
<br />stallmenks Inc mortgagee insurance, if and all as reasonably estimated initially and troth time to time by
<br />Lender on the basis of a-moments and bllla and rc:a.ronable e:~tinratE~s thereof, l,end€r shalt apph~ the Funks
<br />t~ y aaitt tax~..tnt~, ittaEtrance pxetniu and gr(?und rent. Lrndr-r shall a,.ake n~? ch;~r~.,E> far -}
<br />holding and applying the Funds or verifying and compiling said assE~sments an<1 bilks. The Lett((rr xt,a11
<br />~gtthe to the Borrower, without charge, an annual accounting of the Funds shvwiug crr=nits and d(~k,its to thE•
<br />Funds and the purpose #or which each debit to the Funds was made. The Funds are pledged as additic,nal
<br />secutYty for the sums secured by this Mortgage. Thu Bcirr(lwer agt~s that the Funds may lx held by thEj
<br />Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br />from its-.awn funds and the Lender shalt sot bg liable for interest or dividends on such Funds.
<br />If Chet amount of the Fonda held by Lender, together with the future monthly installments of Funds
<br />payable prior to the due datEba of taxes, aases$tnents, insurance premiums and ground rents, shall exceed
<br />t#te amount required to y said uses, aaaeasmenta, insurance premiums and ground rents ac they fall du(>,
<br />such excess shall tee, at BorrowE=r's ore, either prom ly d to Iorrower or credited to F3ormwer (ln
<br />monthly installments of Fonda. I€ t e amount of the ~undsd by Lender shad not be sutficieatt to pay
<br />taxes, assessments, insurance premiums and grotmd rents as they fall due, Borrower shall pay to Lender
<br />any amount necessary to make up the deflcienev within thirty days after notice from Lender to Borrower
<br />requesting payment thereof, or Harrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficiency witltin the Ettnd accounting period.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall apl,ly Funds held as a credit
<br />against. alt sums due.
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