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INDIVIDUAL DUE ON SALE ~~' OPTIONAL FUTURE ADVANCES SAVINGS FUND U FORM Na. 720-479 Loan Number__ 41832___-_ 199__ __ 1___ Tyve Brancn 79-- uU$'748 MORTGAGE 7THIS MORTGAGE, made and executed this ___-....../L.__._._._ day of -.._.._.__. _«-....-_._.- A.D., 13._. -..., between the Mortgagor.......Anslr.24z_4<...F9ssum._and_Juanita. G._.Fossum,_-hus}~and_-and..wife, .....1sLnrLY- ann. each...?.n th.€i x-.Qwz,.-right.......-- ..... __... -- - - _ ..... ........ ... -- - - ------ - of --Grand-,Island,-..__-._.-, County of ._... -.Hall._-...--_.-__---,-, gtate of .......Nebraska..., hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, 12:15 "N" Street, Lincoln, Nebraska 6850], its successors and assigns, hereinafter referred to as Lender. WrTNESSETH: That the said Borrower for and in consideration of the sum of ..-NINE--THOTjSAND--ANp N91.14Q.-c---------r------------.----------r------------Dollars (US 5...4.:000.00-- ) 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: Lot Two Hundred Thirty-Seven (237) and the North IS I/3 feet of Lot Two Hundred Thirty-Eight (238) iri Belmont au addition to the city of Grand Island, Hall County, Nebraska TocE'rxEa 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, alt of which, including replace- ments and additions thereto, sha_l be deemed to be and remain a part of the property covered bt' 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 com•eyed and has the right to mortgage, grant and convey the Propert}•, 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 am title insurance policy in- suring Lender's interest in the Property, or (°) attorney's opinion of tide from abstract of title certified by bonded abstracter. PaovTOS° At.w+vs, and these presents are executed and delivered upon the following conditions, agree- ments and obligations of the Borrower, to-wit: The Bonnwer agrees to pay to the Lender, or order, the principal sum of .NINE THOL~SAND_AND..- NOL 100 ------------------------------- ------dollars (I ~S .; _ 9 , 000.00 1 payable as provided in a nnte ex~t~t~d and delivered, concurrently herewith, the final pacmettt of principal, if not sooner paid, on the . - ..._ _- -.. _.-__.-. day of -_-....July . -. - . 19..89. I:'NIFflaAI C-0VEN,41T5. Borrower and Lender covenant and agree as foLows: I. Payment of Principal and Interest Borrower shall promptly pay 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 tl-ie principal of and interest on any Future Advances secured h}• this Mortgage. 2. Funds foz Taxes and fivsurance, Subject to Lender's option under paragraphs 4 and 5 hereof, Bor- rower shall pay to Lender an the day monthly instaihnents 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 taxes and assessments which may attain priority over this ~Sortgage, and ground rents nn the Property, if any plus one-twelfth of yearly premium installments far hazard insurance, plus one-twelfth of yearly premium in- stallments for mortgage insurance, if any. all as reasonably ~fimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so holding and appl}ping the Funds or verif}nng and compiling said assessments and bills. The Lender shall give t° 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 Lender and commingled with other funds and the Lender's own funds and the Lender mat= pay such items from its awn funds and the Lender shall not be liable for interest or dividends on such Funds. If the amount of the Funds 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 ~ ~O~t ragweed tQ pay said fazes, assessments, insurance premiums and ground rents as they fall due, such ezceas shall he, at Borrower's °pti°n, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by i.ender shall not be sufficient. to pay tears, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within thirty days after n°tice from Lender to Borrower requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, repay the deficiency within the Fund accounting period. Upon payment in full of al] sums secured by this Mortgage, Lender shall apply Funds held as a credit against all sums due.