79004158 - Laserfiche WebLink

Browse

INDIVIDUAL DUE ON SALE OPTIONAL FUTURE ADVANiES SAVINGS FUND FORM No. 720 Loan Number_ 40~~,7 ___-_ 188 _-_ 1 __ TYDe Brsn[h ~~-~ Uv4158 Mt~RTGAGE THIS MORTGAGE, made and executed this .._..... ~1~ ................ day of ........._......_._ A.D., 19..78.., between the Mortgagor, _._Letoy-..Gate..and..Soseghine..Cat.Q...husban. _.and..yil£~-,-......-..__.- .... - .....J.ozntl-J'---and_ each,.in_ their. own-. rightz--- - ..... -~ - -°-......... ....- ----- -- ................... ......•---.° of .-.Grand-_Island_--_-_--, County of -__ Hall....., ---_.--._-----, State of .1!tebxaaka.._....., 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 end assigns, hereinafter referred to as Lender. WrrxessErx: That the said Borrower for and in consideration of the sum of ..~1XTY-EIGHT ............. ---------------Dollars (US $..-.68,60..... -... - :- AND NO - 100-- ... ) - --..xIiQUSAND-SIX.-HUNDRED.-- - -...... ~---- °--- ..............- .._..... ° - - ... 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: A11 of Lot Five (5} and the Southerly Six and Six Tenths feet (S 6.6') of Lot Three (3), Block Six (6), College Addition to West Lawn, Grand island, Hali County, Nebraska TocxTxsa with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royaltaes, mineral, oil and gas rights and profits, water, water rights, and water stock, and all fixtures now or h_ ereafter 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 wvered by this Mortgage; and all of the foregoing, together with said property (or the leasehold estate ire 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 ccill 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- stuing Lender's interest in the Property, or {2) attorney's opinion of title from abstract of title certified by bonded abstracter. Peo*noeo 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 to the Lender, or order the principal sum of ..SIRTY-EIGHT--THOUSAND-- --_.ST,Jf_AII13>_?[~?--AHD--NO(100----.---'--_-------------'Dollars (L:S w..68,60Q.00.__.._..._------) payable as provided in a note executed and delivered, concurrenth herewith, the final payment of principal, if not sooner-paid, on the -...I?irsL ............. day of ----..Ju.ly ._._.._ _.... _ ._..., 1fS.20Dt+ Uxtt~oea3 Covexaxrs. $orrower and Lender covenant and agree as follows 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 l+Tote, and the principal of and interest. on any Future Advances secured :,}• this 'Mortgage. 2. £uada fez Taxes and insurance. Subject to Lenders option under paragraphs 4 and 5 hereof, Bor- rower shall pay to Lender an the day monthly installments of principal and interest are payable under the Note, until the Nate is paid in full, a sum {herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this A~iortgage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelRh of yearly premium in- stallments for mortgage insurance, if env, all as reasonably estimated initially and from time to time by Lender on the basis of a.sessments and bills and reasonable estimates thereof, Lender shall apply the Funds to pay said fazes, assessments, insurance premiums and ground rents. Lender shall make no charge for sa holding and applying the Funds or verifyting 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 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 Lander and commingled with other funds and the Lender's own funds and the Lender may pay such items from its own fends and the Lender shall not be liable for interest or dividends on such Funds. If the amount of the Futtds held by Lender, together with the future monthly installments of Funds payable pricer to the dine dates of lazes; assessments, insurance premiums and ground rents, shall exceed the amount required- to y-said fazes, assr~smeata, insurance premiums and ground rents as they felt due, such eacess. shall be, at Borrower's option; either promptly repaid to Harrower or credited to Borrower on monttil} iristallnents of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay fazes, assessments; insurance prei%ums and ground rents as they tall due, Borrower sha13 pay to Lender any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower requesting payment thereof, ar Borrowea .shall, by an increase in monthly installments of Funds required, repay the deficiency within the Fund aceoun*ang period. Upor. paytrient in full of all sums seeurzd by this Martgagz, Lzndcr shall apply Funds held as a credit against al] sums due.