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<br />~79~U (S 2 fiLWVt~OLN
<br />iNC91YiDUAL.
<br />raUE ON SALE
<br />Oi~'I'tONAi.. FUTURE AiUVANCES
<br />SAVINGS FUND
<br />For~ae NoJ20
<br />Loan Number__ 39978 __-_188 __ _ I __
<br />Ty0! Bran~n
<br />7~fi3sV~a~Icor~rr~ectedmortgage M O Fa T G A GE ~~r 78-008194 0.~ December 13,1978
<br />THIS MORTGAGE, made and executed this ...-__..--.------...._/_2 day of .d~~Or1~111.~//i,.-.-..---,_ A.D.,
<br />19-.~{.~., between the Mortgagor, .. Leroy W. Schultz- and Myrtle M. Schultz, husband and ,
<br />..._wi€e,_~ointlY...and-.each. in their °v,'i'-- rl-$ht' - - -........ - - - ...........---- - - - - - _ ._. -...---- '
<br />of ---Gzand_-Island--.--.----, County of ...__.....li~l><........_.-.----, State of .-.Ngkraska--,.._, hereinafter referred
<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 />WITNESSETFI: That the said Borrower for and in consideration of the sum of _TWEI~TY--FIVE-.-_-._--
<br />---.--THQUSANA__.ANA._SIOL.IQQ---.---------r..--cr.----r.--------BoL'ars (US $--..25,OOQ-.QO...-----------1
<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 ........Hall..__..........._-......., State of Nebraska:
<br />A tract of Land comprising a part of the North One-Half (N~) of the Southwest Quarter {SW'Z)
<br />of Section 32, Township 12 North, F.ange 9 West of the 6th P.M., in Hall County, Nebraska
<br />more particularly described as follows: Beginning at the Northwest corner of the South Half
<br />(S~) of Section 31, Township 12 North, Range 9 West; Thence Southerly along the Westerly line
<br />of said section 31, a distance of 614.78 feet; thence deflecting left 90024'40" and running
<br />easterly, a distance of 1,437.79 feet to the actual place of beginning; thence deflecting left
<br />89029'50" and running northerly, a distance of 451.74 feet; thence deflecting right 90004` and
<br />running Eastlery, a distance of 483.84 feet; thence deflecting right 85009'10" and running
<br />Southerly, a distance of 518.59 feet; thence deflecting right 94050'50" and runnin ((Conttinued)
<br />gSEE' ACHED
<br />TQGETHER with all the improvements now or hereafter erected on the property, and all Basemen RHIBIT
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, an A
<br />water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br />ments and additions thereto, shalt be deemed to be and remain a part of the property covered be 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 convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all claims and demands, subject to any
<br />easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br />suring Lender's intermit in the Property, or (2} attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />PROVIDED 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, ar order, the principal sum of -_-TWENT~'r.FIVE__TIIOLISeiND
<br />..._.AND...IEI/10.{1-------.----rr.-------.---------.------~----.---Doliars (LS S.-..25,QQ4.-4Q..._ ___ -}
<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-ir-st . -. -day of ._.January.......-.-.- - --.-- . ~ .2009
<br />UNIFORM Covt:xAN~rs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal sad Interest. Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on any Future Advances secured by this Afortgage.
<br />2. Funds foi Taxes and Insurance. 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 yearly premium installments for hazard insurance, plus one-twelfth of yearh~ premium in-
<br />stalhnents for mortgage insurance, if any, all as reasonabiy estimated initially and from time to time by'
<br />Lender on the basis of assessments and bills and reasonable estimates thereof, Lender ,hall apply the Funds
<br />to pay said 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 />give. to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the
<br />Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for 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 pay such items
<br />from-its own funds and the I.ertder shaII not be liable for interest or dividends on such Funds.
<br />- I# the-amount of the Funds-held by Lender, together with the future monthly installments of Funds
<br />?_ - payable priox to the due dates. of taxes, assessments, insurance premiums and ground rents, shall exceed
<br />_ .. the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due,
<br />such excel shall be, at Borrower's opraon, either promptly repaid to Borrower or credited to Borrower on
<br />monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient: try pay
<br />taxes, assessments, insurance premiums and gn/und rents as they fall due, Borrower shalt pay to Lender
<br />any amount necessary to make up the deficiency within thirty days after no~~ice from Lender to Borrower
<br />requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required,
<br />repay tire-deficiency wfttan the Fund accounting period.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held as a credit.
<br />against all sums due.
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