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INDIVIDUAL Jam. DUE ON SALE °~ OPTIONAL FUTURE ADVANCES ~ SAVINGS FUND ' a_ - FARM N0. 7Lo ^i~~-1 Locn Number_41183____~_ 188__x_ 1___ *voe era~cn 79"~U2g2~ lV9 O R T Ca A G E THIS R30RTGAGE, made and executed this .-------.-.1~--..._.._.._. day of ._...--p#a~--- .............--...-- A.D., 19-..-79.., between the Mortgagor, .__Ignac_io_,ME-_-._-Valdez and Cynth~a Ann a dez, husband ----aud-.Frifa..-.~Q.i,At1y, and-- each.- in--their__c?•,.m-_ rightz----.--------------------------- of ---_fzaAd_I$13nd......._, County of .._.---. Hall-_.--.---......-, State of .....NQbraska,_-., hereinafter referred to as the Borrower, and the Mortgagee, FIRST F'EDER.?;L SAVINGS AND LOAIti' ASSOCIATION OF LINCOI N, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. WtTxsssBTri: That the said Borrower for and in consideration of the sum of .._6.F~Y'I;~~L.THQUSAND. .._.FIIfE.IIIlNDREI2_tI~ID..NQj.100-~------------------------Dollars (I;S S;_Irz,S.QQ,4.4....._.........._.) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the foIIowing described property located in the C-aunty of __....Hall........... ............. State of Nebraska: Lot Nine (9}, Block 3ixteert (16},H.G. Clark's Addition to the City of Grand Island, Hall Cotr~ty, Nebraska TocE'rx~ with ail 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 rep]ace- men~ and additions th<~reto, shall be deemed to be and remain a part of the property cove.~ecl by this Mortgage; and all of the foregoing, together with said property for the leasehold estate in the event this Morgage 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 uneucurnbernd, and that Borrower will warrant and defend Generally the title to the Droperty against aII claims and demands, subject to any easements and restrictions listed in a schedule of exceptions to coverage in any title insurance po&cy in- suring Lender's interest in the Property, or 12) attorney's opinion of title from abstract of title certified by banded abstracter. Pxovra€a Ar-ways, and these presents are executed and delivered upon the folic.; ing conditions, agree- meats and obligations of the Borrower, to-wit: The Borrower agrees to v io the Lender, or order, the principal sum of -..-SinTE£N-.THOUSAND-,-__.. ------pjt!E-DUNDRED-AND_NOl1-SO-----_.'-_--------dollars (U5 S._.16,SOt~.-DO_ ..-- _ ..... ) payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal, if not sooner paid, an the ---..__.1st_......-. day of --.--. .._1Jabr._- ---. _-- ..-- .._, 19 - .89 L7tarroxM CovEx+xr's. Borrower and Ler•.der rnvenant and agree as follow;: I. Payareni of Principal and IatrresL Borrower shall promptly pay when due the principal of and in- terest on the indebtedness ec~denced by the Note, prepayment and Iate chargee as provided in the Note, and the principal of and interest an any Future Advances Secured by fhis Mortgage. 2. Funds for 1`oxea ®d Tnsur+onee. Subject to Lender's option under paragraphs A and 5 hereof, Bor- rower shat pay i:, under on t-+e 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 tries and assessments which may attain priority over this '4lartvage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearh• premium in- stallments for mort-gaga insura~e, if any, all as reasonably estimated initially and morn time to time by Fader on the basis of assessments and brlls and reasonable estimates thereof, Lender shall apply the Funds ~ PaY said taxes. aasesstnerrts, inaursacae premiums .wd gtund rents- Lender shall make na charge for sa holding and applying the Funds or verifying and a~mpiling said assessments and bills. The I.Pnder shall > d grower, withoat charge, an annual accounting of the Funds showing credits and debiis to the security for these~cvz b t~Ircish ;~~ t to the Ftirnds was made. The Funds are pledged as adlitional Lender and eo } rtgage. The Harrower a ~ that the Furds may be held by the mmiagied with other fuada end the Lender's okra funds and the Lender may pay each items from its own funds and tltE Lender shall not ~ li4hie for interest or dividends on such Funds. H anrouat of the Funds ) by girder, together with the future monthly installments of Funds snrount #~` the ~ dsites v# tom, ase~mants, insurance prerni~s and ground tents, shall exceed ~4 peY smd Eases, aeee~eata, insurance premiums and ground rents as they fail due. sa~u eYC~s shall be, at Borrowers option, eiiher prgmptly repaid to Borrower oz credited to Borrower on '.ooathlY inataihnents Gf Funds: If the amount of the Funds held by Lender shall not be sufficient to pay !Gies, asaeaaments, itrsrrraace pmmiuras Gad grwmd newts ss they fall due, Borrower shall pay to Lender any a~~t wry to make up the defciency within thirty days after notice from Lender to Borrower requesting payment thereof, ar Ravmwer shall, by an increase in monthly instalhnents of Funds repaired, repay t!se deficiency within tlrt Fund accounting period. fi~pon payment in full of all sums secured by this Mortgage, Lender shalt apply Funds hc~lcl a~ a credit against all sutras due.