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<br />~~
<br />79-., uti~905
<br />INDIVIDUa~
<br />DUE ON SALE
<br />OPTIONAL FUTURE ADVANCES
<br />SAVINGS FiJND
<br />Fonts No. 720
<br />Loan Number__ 39104___-_ 188__-__ 1__
<br />Troe eraoan
<br />M O R T G A G E
<br />THIS. MORTGAGE, made and executed this .__._.-.19----_...-..... day of ._...........June ..............._ A.D.,
<br />19..$9...., between the Mortgagor, ....Michael_S~l.._Collinson..and..Cher}rl.A..-Gallinsnn,-.husband...
<br />......-...and..raife,.. j.nintLy...and_ear~..-in...their..oLZn.-right,--------..-------......__..---.--- .................................
<br />of ._....Dnniphan...._..._.._, County of -...-Hall..._ .................... State of -....Nebraska...-, hereina#ter 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 />WrTxESSETx: That the said Borrower for and in consideration of the sum of .T?...FOUR,-THOUSAND
<br />AND._NQJ100-----°---------°-------------------------Dollars (US S .-24.,a00.00...............J
<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 .........gall-----------------_--._--_~ State of Nebraska:
<br />Lots Eleven (11) and Twelve (12), Elock One(1), in William J. Burger's Addition
<br />to the Village of Doniphan, Hall County, Nebraska
<br />fiocErxEa with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stack, and ail fixtures 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 covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all claims and demands, subject to any
<br />easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br />suring Lender's interest in the Property, or {2) attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />PYOyIDED ALWAYS, and these presents are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, to-w-it:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of TWENTY--FQIJIi--Tll4U&Al•1D-_-
<br />AND_.13I1/lOD.---c-.----_~..`-- - ~ - ---..---.-------------.Dollars (US S - 24aQ.4Q-.QQ -- -- - >
<br />-° - -
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, on the ._...-.--.....lst . -- day of ----...-.......July..- _-, IB(20.0.8
<br />Uvrtraay CovExAx~rs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prindpai sad IateresL Harrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by fhe Notes, prepayment and late charges as provided in the Noce,
<br />and the prinapal of and interest. on any Futvm Advances secured by this \7ortgage.
<br />2: Funds for Taxes sad fasur~ce. Subject to Lender's option under paragraphs 4 and 5 hereof. Bor-
<br />rower shall. pay to Lender on the day monthly installments of principal and interest are payable under the
<br />Note, until the Note is paid in fuU, a sum (herein `Funds") equal to one-twelfth of the yearly taxes and
<br />assessments which may attain priority over this Alortgage, and ground rents on the Property, if any plus
<br />one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br />stallments for mortgage insurance, if any, all as reasonably estimated initially and from Lime to time by
<br />Lender on the bssis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge fur w
<br />holdsrg and applying the Funds or verifying and compiling said assessments and bi1Ls. The Lender shall
<br />give ttt the Borrower, wrthout charge, an annual accounting of the Funds showing credits and debits to the
<br />Fartds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for the sums securt~d by this Mortgage. The Borrower agrees that the Funds may be held by the
<br />bender-and rnmmingied-with other funds and the Lender's own funds and the Lender may pay such items
<br />from its own -funds and the Lender shall not be liable for interest or dividends on such Funds.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />payable pritrr to the due dates of taxes; as~ssmeats, insurance premiums and ground rents, shall exceed
<br />tale amount ~i+ured ta; PaY said taae8, easessments, insurance premiums and ground rents as they fall due,
<br />such excess shall liar at Borrower's option, either promptly repaid to Borrower or credited to Borrower on
<br />monthly' installments of Funds, If the amount of the Funds held by Lender shall not be sufficient to pay
<br />taxes, mertts. rusuran+~ Pre -iurns and ground rents as they fall due, Borrower shall pay to Lender
<br />any amount rtecessary to -make up the deficiency within thirty days after notice from Lender to Borrower
<br />requesting payment theretrf, ar Borrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficfetrcy within the. Fund accounting period-
<br />tlpdn paygnent in full of ail sums secured by this I~'lortgage, Lender shall apply Funds held as a credit
<br />against all sums due.
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