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INDIVIDUAL DUE ON SALE OPTIONAL FUTURE ADVANCES a SAVINOS FUND s .L PoaM No. 720-479 u Loan Number_41621____-_;.88__x_1--__ rr~ e.,~~n 79- Q0328U M G R T G A G E THI5 MORTGAGE, made and executed this ._.__..._24..........._.. day of .__...-.May _...._._....._.... A.D., 19...76..., between the Mortgagor, .kl IJ..i,am.,,james,.-$chutt.-and,.Diane-.R.__Schutt,. husband and h*f; fe.,-..Jointly-- and . each,, in._their own right._- - --- --_ ..... -- ..................._._ _ -- - - - - - ....-.. of ..Saxand_Island-_-_..--.,-, County of ....Roll ,State of ..Nebraska ,hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, 1235 "I~'" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred io as Lender. WITNESSETH: That the said Borrower for and in consideration of the sum of .TfII-ATX_THI;E$-_--......-. THQUSA~W.-;iEyE~l--HUNDRED_FIFTY. AND-NO/100-------------..Dollars (USu33~750.40...-------------.) 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 ....-.lial.l-..-..--....__._._...-..., State of Nebraska: Lot Thirty-Five (35) in "Reuting's Second Subdivision", being a part of the Southwest Quarter (SW%) of Section Twenty-Four (24), Township Eleven (11)North, Range Ten (10) West of the bth P.M., Hall County, Nebraska Tocr•;ratse with all the improvements nox• 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 ar 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 x•ith said property (or ±he leasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower covenants that Borrower is lax=fully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Propertc, 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 insuru~ce policy in- suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified by bonded abstracter. Peovmso ALx-evs, and these presents are executed and delivered upon the follox~ng conditions, agree- ments and obligations of the Borroxer, to-x=it: The Borrower agrees to pay to the Lender, or order, the principal sum of -.THIRTY-. THREE. THOUSAND -SESfEN.-HU1~RP,F.U_F)/~.~.NO/i00______________________ Dollars {USg33=750.00_.,-..____,---._) payable as provided in a note executed and delivered, concurrently hemx•ith, the final payment of principal, if not sooner paid, on the . ._..-ls#:-._ -_._ .dap of __..- JuAe. Dtk 2009 U*~-tFt3seu Cov~+~Rx1s. Borrower and Lender covenant and agree as follows: 1. Fey-meat r,# Principal end Interest Botrower shall promptly par when due the principal of and in- terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on anc Future Advances secured by this _lortgage. Z Funds for Taxes and Insuzaace- Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall pay #o Lender on the day monthly installments of principal and interest are payable under the Note, uati# the Note is paid in full, a sum {herein "Funds") equal to one-twelfth of fhe yearly taxes and assessments which may attain priority over t-his Mortgage, and ground rents on the Property, if any plus one•tcaelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in- stallmertts for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds io pay said taxes, assessments, insurance, premiums and ground rents. Lender shall make no charge for so holding and applying the Funds or verifying and compiling said assessments and hills. The Lender shall give to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds 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. The Borrower agrees that the Funds may be held by the Leader and commingled with other funds and the Lender's own funds and the Lender may pay such items from its own funds sad the Lender shall not be liable for interest ar dividends on such Funds. If the amount of the Ftutds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of fazes, assessments, insurance premiums and ground rents, shall exceed the amount t+aquized to pay said. taxes, asse~rnenta, insurance premiums and ground rents as they fall due, such eac~ shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taaea, assessments, insurance premiums artd ground rents as they fall due, Borrower shall pay to Lander any amount necessary to make ap the deficiency within thirty days after notice from Lender to Borrower n~u~tirg pay~~nt theresf, of norruwer shall, by an increase in monthly installments of Funds required, repay the deficiency within the Fund accounting period. Upon payment in full of all sums secured by this Mortgage, Lendet shall apply Funds held as a credit against all sums due.