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<br />79-- ~UG3933
<br />INDIVIDUAL
<br />DUE ON SALE
<br />OPTIONAL FUTURE ADVANCES
<br />SAVINGS FUND
<br />Fo,eM No. 720
<br />loan Number_40559 188____Ba^_^
<br />MO~t~'GAGE
<br />THIS MORTGAGE, made and executed this _......_lc~ ................ day of ._.__ _~-..__............... A.D.,
<br />19.7Gf ._, between the Mortgagor, Jack,- J.-.Greemapod--and .Rae. Ann.-Grg_.--_.--.d,, husband- and wife,
<br />.-_jointly.-and- each_.in their own. right -- _.._ ....-- --.-----
<br />.. -- - -
<br />of . WOQd Ttf<Xez .. -..- ,County of ._ Hall..... ., State of .Nebraska . ,hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATTON OF
<br />LINCOLN, le°5 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WrTNESSeTx: That the said Borrower for and in consideration of the sum of ..xIiIRTY. SIX_..._.-.-.._
<br />.TROTIS.AFIIL.FDi1R-IIC1.fIARED--ANA--NO/.1.99--r..c-rrr.--.crrr..c-rr..--DoEars (U5 $..36-,,400..00...---.-----.----)
<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 ...Ball_....._-_...__ .............. State of Nebr sk
<br />A tract of land situated in the Northwest Quarter of the Northwest Quarter ~Nw~awr~} of
<br />Section 7, Township 10 North, Range 11 West of the 6th P.M., Hall County, Nebraska, more
<br />particularly described as follows: Commencing at a point Seven Hundred Ninety-four feet
<br />(794') South of the Northwest corner of the Northwest Quarter of the Northwest Quarter
<br />{NW~NWty) above described, thence proceeding East parallel to the North line of the Northwesti,
<br />Quarter of the Northwest Quarter (NW~NW~) above described a distance of Two Hundred
<br />Twenty-six feet (226'), thence proceeding South parallel to the East line of the said
<br />Northwest Quarter of the Northwest quarter (NW34NW'~L) a distance of Hundred Seventy-five feet
<br />{175'}, thence proceeding West parallel to the South line of the said Northcacst (Exhibit "A"~.
<br />TocErxae 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 stock, and all 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 an 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 i=nterest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br />by banded abstracter.
<br />PaoYIDEQ ALwevs, and these presents are executed and delivered upon the foltowing conditions, agree-
<br />ments and obligations of the Borrower, to-wit:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of ..-TEIIRTY. SIX- TEIOiI$AND...
<br />..F.Qt>`R.IiUNDRED..AND-NO/100-.--°--."-:---'---.°---.-----.----.Dollars (liS $..-3fi~400.00.-....... -- )
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, on the ----_...~irst_..- -day of - ..----J.uly_..._ .. -_ _. _- _..., %&X20D.9
<br />ITN[FOEM CovexnxTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal sad IateresL Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br />and the principa3 of and interest on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. 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 Nate is paid it full, a sum (herein "Funds") equal to one-twelfth of the yearly ta_ees and
<br />assessments which may attain priority over this Mortgage, and ground rents nn 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 time to time by
<br />Leader on the basis of assessments and bfIls 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 for so
<br />holding -and applying the Funds or verifying and compiling said assessments and bills. The Lender shall
<br />give to the Borrower, without charge, an annual accounting of the Funds shov.:ng credits and debits to the
<br />Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br />Lender and commingled with other funds and the Lender's awn funds and the Lender may pay such items
<br />fenm its own f~.mds 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 prior to the due dates of taxies, aaeassmeata, insurance premiums and ground rents, shall exceed
<br />the amount required to y said taxes, assessments, insurance premiums and ground rents as they fall due,
<br />such eaeess shall be, at Bnrmwer's nptinn, 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 />rases, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br />requesting payment thereof, or Burrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficiency within the Fund accounting period.
<br />Lir.,n payrh2nt in €ull of all suns sesurad by this A~Iartgage, Lender shsll apply Funds held as a credit
<br />against all sums due.
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