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<br />INDIVIDUAL
<br />DUE ON SALE
<br />' t?PTIONAL FUTURE ADVANCES
<br />~~^ SAVINGS FUND
<br />~~ FpRM No.720
<br />Loan Number__~7Afi.3__a:.L44__'_i-_-
<br />xra+ 9.rA^~-
<br />79-UU2633 M©RTGAGE
<br />THIS MORTGAGE, made and executed this ._...._-~2....-.-..._.-- der of ._....~firf~__.._-. __.. A.D.,
<br />Y
<br />13-~~.--, between the Mortgagor, -_-.Stan2ey B._-Garr3-s-,, Jr..and Mary_M... Garris, husband and.
<br />-~*i.ft:~_.ioxnt.~.Y...D~d..€ash..in...t;he~x...al~ siSktt.-- - -- -- .....- -... - -- - -- - -- .. ............ -.- _- ......-.......
<br />of .....Grad- Island--_----, County of ....-_Hal.l.-..-......._......, State of .__-Nsbzasisa._., hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />L LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WITNEaSETR: That the said Borrower for and in consideration of the sum of F?.FTY.,THREE,-THQUSAND
<br />TWO HUNDRED AND NO/100----------------------------- ,
<br />.- -- - -- __ _ ......._......... .Dol,ars (US x..53.,.200...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 Connty of .-..-....-Hahl.._........__.._......, State of Nebraska:
<br />Iwt ;.~,ix ~y-gin (37) , Western Heights Third Stzbdivision,Hall Corm
<br />ty, Nebraska
<br />TocETZZEB with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, 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 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 interest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br />by bonded abstract$r.
<br />Paovzasn ALwAYa, and these presents are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, to-wit:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of . - .FIET7f..TIfB.EE- . .. -- .. -
<br />.-T110IISAND:.TWO_IilIND11ED.-ANfL.NOd-i40=r°--.---r----c-----c.-.•F3ollars (LS a---~3.,200_OfI-.-- - ...- . - 1
<br />payable as provided in a note executed and delivered, concurrently herewith, the fi 1 ayment of principal,
<br />if not sasner paid, an the ...........First,---.. day of ._..-.M?Y..-------_....__ ._ _ _,~
<br />UxzFOau[ CfJVENAxTa. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the Nate, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bat-
<br />rower shall pay to Lender on the day monthly installments of principal and interest are lxtyable under the
<br />Note, until the Note is paid in full, a sum (herein "Funds") equal to one-hvelfth of the yearly taxes and
<br />assessments wk:ich may attain priority over this Mortgage, and ground renter on the Property, if any plus
<br />one-twelfth of yearly premium instalments for hazard insurance, plus one-twelfth of yearly premium in-•
<br />stalhnenta for mortgage Insurance, if an~•, all as reasonably estimated initially and from tunr to time by
<br />Lender on the basis of assessments and btlls and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br />holding sad applyrin$ the Funds or verifying and eompi2iag said asse~ments. and bills, The Lender shall
<br />gg~zV~~E 'ter tI3C BOrraWEF, without charge, an annual accounting of the Funds showing ez~edits and debiks to the
<br />Funds and the purpose for which each debit to the -Funds was made. The Funds are pledged as additional
<br />aecarity for the sums secured by this Mortgage: The Borrower agrees that the Funds may be held by the
<br />Leader and commirigied with other, funds and =the .Lender's own fund4 and the Lender may pay such -items
<br />from its own <Funds. and the Lender.shall not be liable for interest or dividends on such Funds.
<br />If the amouato! the Funds haicl i~v 1.~rtder, together with- the future monthfy installments of Fonds
<br />payable prior' to the. due dates zif taxes;. aaeessmeats, insurance premiums and ground rent.4, shall exceed
<br />the amount :required to pay said taxes, aseessmertts, iaeuraxice premiums and ground rents as they fall due,
<br />such- excess sbail be; at Borrower's option; either promptly repe~d 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 to pay
<br />taxes, assessments, insurance prezzuums'and ground rents as they fall due, Borrower shall pay to Lender
<br />any amaurit nee~sary to rzmke-up-the defEtzcy within thirty days-alter notice from Londer to Borrower
<br />requesting.- payment thereof, or Borrower -shall, by an increase in monthly instailment.G of Funds required,
<br />repay .the deficiency within- the Fund atcvurzting period.
<br />IFpon payment in full of-all. sums secured by this Mortgage, Lender shall appl; r'unds held as a credit
<br />agamst all sums due.
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