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INDIVIDUAL DUE ON SALE OPTIONAL FUTURE ADVANCES ~0^ SAViNtsS FUND Y~ FORM No.320 Loan Number__ 40538___-__ 188____ i___ ~~.~ O ~ /~ (~ `y ~ TyD~ Brand, M O R T G A G E THIS MORTGAGE, made and executed this .._._..-....__29....-._.. day of ...............May.........__._.. A.D., 19...79..., between the Mortgagor, ....William--C._-Topham--and-.Patricia,.M,,_Top-ham-,_.husband..riztd._.. .._.........--------- -- - ° . .................._.....-. wife,--~ointlY..and--each.-in-.their-,gwn.-right- °- - - - - ...- _. -~- of -Grand-- Island--._._.-, County of Hall-------------_-.-..-.,. ,---, State of ...Nebraska..__., hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. ~'t'rTxESSSxx: That the said Borrower for and in consideration of the sum of -EIETY._TCvO-.TROtJSAND EIGflT.liU11DRED-.ANIl..HQ/100-.--cc-.nncrr.------°----------Dol;ors (USu..-52,80II.00-.-._......_.....) 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 --Hall_.______.-_-_____-_-.___.,_-, State of Nebraska: Int Twenty-Fot~• (24), Block Six (5), Unit Three {3), Continental Gardens, an Ad~i.tion to tl~e G'i.ty or GYand isiand,iiaii Cotmty, f3ebraslca TocETxea with all 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 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 with said property (or the leasehold estate in the event this Mortgage 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 unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and demands, subject to any easements and n~trictions listed in a schedule of ezceptions to coverage in any title insurance policy in- suring Lender's interest in the Property, or (?) attorney's opinion of title from abstract of title certified by banded abstracter. Paovtoeo ALWAYS, and these presents are executed and delivered upon the following conditions, agree- ments and obligations of the Borrower, to-wit: The Borrower agrees to pay W the Lender, or order, the principal sum of FIFTY__TWO_ TktQijSAATp la~~kiT--laUN.DREp-.IhB--hd/__?40-.-----------.--------_------.Dollars (liS 3.--52,800.0.0._ _...... ) payable as provided in a note executed and delivered, concurrently herewith. the final payment o€ principal, if not sooner paid, on the _ .. lst__ __ . dat- of _-_... _ .....Tune- __ _ 1>0 2009 UxiFOZtt C OVEN4NT5. Borrower and Lender covenant and agree as follows 1. Peyment of Principal and Iaterest. $orrower shall promptly pay when due the principal of and in- terest on the indebiedne_c ec>idenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Mortgage. 2. Funds for Traces and Insurance. Subject #o Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall pay to Lender on the day monthly installments of principal and interest are payable under the No#e, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this ifortgage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in- stallments for mortgage insurance, if any, all a, reasonably estimated initialh> and from time to time by Lender an the basis of assessments sad bills and reasonable esiimat~ thereof, Lender shall apply the Funds to pay said fazes, assessments, insurance premiums and ground rents. Lender shall make no charge for ao holding »txf apglyireg the Funds or veiifsing and compiling said assessments and bills. The Lender shall give to the Borrower, without c#iarge, 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 additionrl security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the Lender and eomrningled with other funds and the Lender's own funds and the Lender may pay such items from its own funds and the Lender shall not be Gable for interest or dividends on such Funds. If :tae aasonat of the Ftmds 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 ezceed the amount required to pay Bald razes, assessments, insurance premiums and ground rents as they fall due, such ezceas shall be, at Borcvwer's option, either gromptly repaid to Borrower or credited to Borrower on monthly insfallrnenta of Fundy If the amount of the Funds held by Lender shall not be sufficient to pay fazes, assessments, insurance preminrns sad ground rants as they fail due, Borrower shall pay to Lender any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower requesting payment thereof, ar Borrower shall, by an increase in monthly installments of Funds required, repap the deficiency within the Fund acr_nunting period. Upon payment in full of ail sums aecttred by this MoHgage, Lender shall apply Funds held as a credit against all sums due.