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79- U0241 f W#fNit3WJtL D!J'E t?fY SALE Of~?ONAL f=UT#!RE Af)YAN~ES SA1/ftVG3 f7.7Nf3 FOww NO,T20 L,pan Number__51115___ _1$$___."_1__- Tro: Bence M O R T G A G E THIS MORTGAGE, made and executed this - ...-..~:j!....._...... day of - _ .. A.D., 19.9Y._., between the Ma ~T' _-----..--. -- rtgagoz, ....Jack.-L,,- Nelson and. Phyllis_ F._- I3elson,_husband-.and-------__--._ .-- Srf.fe!_,...14~.titby.. aA~. gaeh.. in, their own._r1Shr.,....-... of .----GraAd.-Island.-_....., County of ............. Hall_.....--.---.., State of .. ~?~3raska_-._-., hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS ANI3 LOAN ASSOCIATION OF ~- LINCOLN, 1235 "N" Street, Linrnin, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. W[xxESSE'rx: That the said Borrower for and in consideration of the sum of _..T1iIRTYrEIY_E......-..-.. ----xli9US41tI1?. ~. NO/ 100-------.---.-----------------_---:-dollars (US $-.. 35 000,-00--..__.._...-.) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of -..-.....IIa11...-..--...._--...-_._.., State of Nebraska: Lot Eleven (11) of the Subdivision of LUt Nine (9), Windolpl-i's Subdivision of part of the Northeast Quarter Northwest 4uarter (NE%,NW4) and the Northwest Quarter Southeast Quarter (NF3,;SF..4) of Section 14, Township li North, Range 9 West ofthe 6th P-.-M., Hail bounty, Nebraska Toct?Txsx with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replace- ments and additions thereto, shall be deemed to be and remain a part of the property covered by-this Mortgage: and all of the foregoing, together with said property (or the leasehold estate in the event this Mortgage :A or. a leasehold) are herein referred to as the "Property". Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and demands, subject to any easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy ia- suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified by bonded abstracter. PiroviDSO ALWAYS, and these presents are executed and delivered upon the following conditions, agree- meats and obligations of the Borrower, to-wit: -The Borrower agrees to pay to the Lender, or order, the principal sum of .. DIRTY-FiVE__Ti~©t1SAt11)- •-----(gip-NO/100-----°--------.-----------~~_.~r-----Dollars (US$...35,flflII.Ofl.-------- ) payable as provided in a note executed and delivered, rn currently herewith, the final payment of principal, if not sooner paid, on the -...--First--,--.. day of -..--...~,. Y....-.---------------...----> 1~2QQ9 Uxt>•osat Covsxaxxs. Borrower and Lender covenant and agree as follows: 1. Bayment of Principal and Interest. Borrower shall promptly pay when due the principal of and in- terest on the indebtedness evidenced by the Nate, 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 Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is gold in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Mortgage, 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 any,- r11 as reasonably estimated initially and from tune to time by Lender oa the basis of assessments and bills and reasonable estimates thereo#, Lender shall apply the Funds to pay said taxes;-assessments insurance premiums and-ground rents. Lender shall make na charge for so fielding and applying the Funds or verifying and compiling said assessments and bills. The Lender shall g-ve.to the Borrower, without charge, an artrtual accounting of the Funds showing credits and debits to the J?unds 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. 7'he $orrowsr agrees that the Funds may be held by the Lender-sad mmmu-gled with other funds-and the Lender's own funds and the Lender may pay such items from -its oven-fonds and the_Under-shall-not-be liable-for interest of dividends on such Funds. 11f the sinnunt of the Pleads-held by iE:ender, together. with the future monthly installments of Funds payable prior to tbe due dates of tsa2s,.8asesamertts, insnn3ince premiums and ground-rents, shall exceed the amount-required to pay. said taxes, assessments, insurance premiums and ground rents as they fall due, such ezeess-shall be, at Borxower's option,' either promptly re d to Borrower or credited to Borrower on rragnthly installments sxf Fonda. If the amount of-the Funds held by Lender shall not be sufficient to pay lazes, ssseaemeats, insorance gteminms and gmuild rents as they fall due, Borrower shall pay to Lender any etmount necessary to fnslre up the-deficiency within-thirty days after notice from Lender to Borrower requesting payment thereof, or'Bormwer shall; by an increase in monthly installments of Funds required, repay the deficiency within the ~d eecouteting period. Upon payment in full of at1 sums secured by this-Mortgage, Lender shall apply Funds held as a credit against all; sums f3ue.