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INDIVIDUAL DUE ON SALE OPTIONAL. FUTURE ADVANCES SAVINGS FUND FORM No. 720 Loan Nurnber__ ~27~,>r__-~$$__-__L_- iro~ e.a~cn 79-'003776 MORTGAGE THIS MORTGAGE, made and executed this .._._.15.._........_..... day of ._..........._..Jtzne_.._..._... A.D., 19.....29., between the Mortgagor, ...Ric]iazd.-I,...-II.yan..and._Cheryl...L..-Ryan, ..husb_and..and..saife.,-.....- - jointly...and..-each..in-.xheix...own..right.,....... - - - ........-.__._...... . _.._._.. ----- .....-.._.... of ...Grand..Island_..___, County of -._-...._.Hall._...._-_...., State of ._DIebxaska____, 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. V4trxssseTx: That the said Borrower for and in consideration of the sum of ..FIFTY-FQUIt......-.._..- -.THOUSAND..AI3D..N0,(100----------.----------------.------Dollars (U5 $ .54.,4Q4..40....... _.) paid by said Lender, dog hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of ........__..$all--------------- ------ State of Nebraska: Lot Four (4), Imperial Village Eighth Subdivision, City of Grand Island Hall County, 'r',ebrasi<a Tocsrxea 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, sl.ali be deemed to be and remain a pan of the property covered by 'this Mortgage; and all of the foregoing, together kith said property (or the leasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower rnvenanLc that. Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Propert.t, that. the Propertv 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 insurance policy in- suring Lender"s interest in the Property, or (2) attorney's opinion of title from abstract of title certified by bonded abstracter. PQOVrneo A~wwys, and these presents are executed and delivered upon the following conditions, agree- ments and obligations of the Borrower, to-wif: The Borrower agrees to pay to the Lender, or order, the principal sum of FIFTY-F'QIIB-THOUSAND.-- AND.. N4/ 10(3-------------------------------Dollars (1"S •- 54..OQO.p.O -... _ _ . . payable as provided in a note executed and delivered, c•oncurrenth- herewith, the final payment of principal, if not sooner paid, on the -fist. day of - -. J1i1-Y ,~ ?448 L'NtFOriHt COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest Borrower shall pmmptft pat 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 nn any Future Advances secured b}' ibis Mortgage. 2 Funds for :axes sad Insurance, Subject to Lender'. option under paragraphs 4 and 5 hereof, Bar- tower shall pat to Lender on the day monthly installments o[ principal and interest are payable under the Note, until the Note is paid in fuU, s sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this tifortgage, and ground rents on the Property, if any plus one-tw=elfth of nearly premium installments for hazard insurance, plus one-iu•elfth of tearit premium in- stallments #or mortgage insurance, if any, all as reasonably estimated initiallt 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}•ing the Funds or verifying and compiling said assessments and bills. The Lender shall give to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purnose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this '1ortgage. 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 may pay such items from its ow-n fw-!ds and the Lender shall not be 3iable for interest or dividends on such Funds. If the amount of the Fiords held by Lender, together with the future monthly installmerts of Funds payable prior to the due dates of tazea, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, snc}i ezcess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly utstalfinents b# Funds. If the amount of the Funds held by Lender shall not be sufficient to pay fazes, assessments, insurance p;, ;~riums and ground rents as they fall due, Borrower shall pay to Lender _~._.-.....-~v ..-._.~! V4fL~.Y~1: i~7i'~Gi7 y d•~.~ ~'1.uC •(1C44tt.:.1t1: -rYlLllt~n ~l.llttL ' S -- i _ 9' yzays-afL•e: r u'.'x ..';.ir.-rr~d`F t?-Anr'nli'eC....... .... requestrng 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 #ull of ail sums secured by this Mortgage, Lender shalt apply Funcis held as a credit against. all sums due.