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INDIVIDUAL
<br />DUE ©N SALE
<br />DP'TIONAL FUTURE ADVANCES
<br />SAYINGS FUND
<br />FORM No. 724
<br />Loan Number___ 40$72_- I88__- 1___
<br />- irve erancn
<br />79..~U3 ~ 13 IVI O R T G A G E
<br />THLS MORTGAGE, made and ezecuted this ----2J._ .................... day of ..-.-_.--1Ja.}t----.--.-..---.---..- A.D.,
<br />19..7.x._.., between the Mortgagor, ...B~-lly R. Clark and Robin _R. Clarks husband and wife.=. .
<br />Jointly and each in their own right
<br />of . Grand Island ._........., County of ......Ball _. _.._._. __ _ State of ..Nebraska...- - hereinafter referred
<br />to as the Borrower; and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN,-1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WiTx~sxx: That the said Borrower for and in consideration of the sum of .T$I13.2K_N ...............
<br />~Q'IISAlff2_Id.-ili?i1~lBID. ACID. N4jZ00--.-.----------.--------DoL'ars (US $~9.9Q9...QQ----..-...:_...._...)
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />following described property located in the County of ... Aall,._._.,._._,,._ .............. State of Nebraska:
<br />Lot Five (5), Block Nine (9), in Morris Fifth Addition to the City of Grand
<br />Island, Hail County, Nebraska
<br />TocgrxEe with all the improvements now or hereafter erected on tbe property, and all easements,
<br />rights, aPPurtenaaces, rents, royaltiets, nnineral, oil and gas rights and profits, water, water rights, and
<br />water stack, and all futures now- or hereafter attached to the property, all of which, including replace-
<br />ments and additions thereto, shall be deemed to be and remain a part of the property covered by this
<br />Mortgage; and all of the foregoing, together with said property {or the leasehold estate in the event this
<br />Mortgage is on a leasehold} are herein referred to as the "Property"
<br />Borrower ooveaants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to mortgage, gntat and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant sad defend generally the title to the Property against all claims and demands, subject to any
<br />easerneats and restrictions listed in a schedule of exceptions to rnverage in a^.y title insurunce policy in-
<br />stsrsng Lender's interest in-the Property, or {2l attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />P¢ctvru8p ArwaYS, and these presents are executed and delivered upon the following conditions, agree-
<br />menfa and obligations of the Borrower, to-wit:
<br />The Borrower agrces to pay txs the Lender, or order, the principal sum of . TIi7A2Y--NI)~&..4$OITSAT!tD.-
<br />822~_.IB$I?-~_1V0/lt?D---------.----------.-----------!Sollars (L`S S..3g-~4~5.00.--- - - - )
<br />p~s_vabie sa provided in a note ezecuted and delivered, rnncurrently herewith, the final vment of principal,
<br />if not aoorier paid, on the --.--..-1st---------_. day of __..._Jvae.__.._.-_.--.--- ---.-, ~S- 20~.
<br />ilxraostte CovrxwNrs. Borrower and Lender covenant and agree as follows:
<br />L Papment of Priadpal ®d 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 />amd the principal a# and interest on any Future Advancers secured by this Mortgage.
<br />2 Puads ~ Taxes oacl .Taeuraaee. Subject to Lender's option under paragraphs d and 5 hereof, Bor-
<br />rower shall pay to Lender oa the day moathiv installments of principal and interest are payable under the
<br />Note;.uata2 the Nate is paid in ~~tll, a sun: {hereir. "Fundy"; equal tc3 one-twelfth of the vearly taxes and
<br />-which may attain priority over this Mortgage, and ground rents on-the Property, if any plus
<br />osre.twelfth of Yearly premium installmereta for hazard insurance, plus one-twelf#h of yearly premium in-
<br />at'alhneats for moi-tgage insura~e, if any,-all as reasonably estimated initially and from time to time by
<br />Lr on fhe basis 6# axis ~d hills sad reasonable estimates thereof, Lender shall apply the Funds
<br />~ pay mid tam ts, insurance prerriiums and ground rents. I.emder-shall make na charge for so
<br />-and applying the Farads or veai#ying and compiling said assessments and bills. The Lender shelf
<br />tv the:. ~; without charge, an annual accounting of khe Funds showing credits and debit to the
<br />sad ttm pnrpeese for-which each debit to the Funds was made. The Funds are pledged as additional
<br />securuy for rile ~ ~Y t}iis Mortgage, 'The Borrower agrees that the Fonda may be held by the
<br />Bader and aema~tgied with tithdr Panels artd the Lender's own fnnda and the Lender may pap each items
<br />irom its awn. Erode sail ~ Lim .shall >~ be liable far interest ar dividends on such Funds.
<br />i# flee sit ciF the F~iutls 73eM Icy , together wit3t the future monthly installments. of Funds
<br />~e.7eble prior to the doe dues of tasea, ate, jatze prenift~r~ and ground: rents, shall exceed
<br />tE>e amrxuct ~g3rired to paq s-id fazes, _ .insurance prerniuma and ground rents as they fall-dub,
<br />eacnea.-gam} be, at Borrce~r~'-a ppt; rpitber prom}~Iq d to Borrower or credited to Harrower on
<br />saorittly iru~p of Fundy Zf tbe arodrsa-tt of t he FundsI~id by Lender shall not be suTicient to pay
<br />insurartea }~ noel ground rents ae they fa#1 doe, Borrower shall pay to Lender
<br />~y amount S to make-ug tip may' within thirty-days after notice from Lender to Borrower
<br />rl~ereatin8 payment- thereof, cu $orrt~rtnr shall, by .an increase in monthly installments of Funds required,
<br />a+apsy the defieaeney within the F'uad accounting period.
<br />rup~..n i~.r``v is #ull oLalf mums aectsed by this Mortgage; Lender shall apply Funds held as a credit
<br />against ail sums clue.
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