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<br />INDIbIDUAL
<br />DUE ON SALE
<br />~~ Or^TIONAL FUTUi2E ADVANCES
<br />SAVINGS FUND
<br />U FowM bo. 72[1.479
<br />Loan Number___4?~2~__-__L&~_-__l.__
<br />t.oe s.an~„
<br />79-~~1~~~~ MORTGAGE
<br />THIS ~1DRTGAGE, made and executed this .__-_1.7-. _ _ _........ day of ._._._.d~t}yy_._._.-_-___.- A.D.,
<br />19._~o_., between the Alortgagor, .-_ Rober.t_,W,_Kng_and_Vrgnia M,_ King,,_husband_and w_ife,.
<br />„_._jointly.and each._in their_own_right,,._.__
<br />of - Grand_Zsland---,- ____ County of ____.-Hall--- ------- -------- State of .....Nebraska ,hereinafter referred
<br />to as the Borroxer, and the '.4lortgagee, FIRST FEDEF.AL SAVINGS AND LOAN .--1SSOCIATION OF
<br />LINCOLN, 1235 '`N" Street, Lincoln, Nebraska 65501, its successors and assign;, hereinafter referred to
<br />as Lender.
<br />Wt•rxisssa•rx: That the said Borrower #or and in consideration of the sum of . _THIRTY..T130USANR--
<br />----AND..NO ,100-_------------- Dollars (IIS 3. z .. ...-._..._.._.
<br />-- _._ . - .... ._.-._-.._...- __ . _- . -.._ . . _. - 30 000.00
<br />paid by said Lender, does herebv mortgage, grant snd convey to Lentfer, its successors and assigns; the
<br />foilouirg described property located in the Count}~ of _-.Hall _ _ .... .State of Nebraska:
<br />Lot Nine (9) Knickrehm Eighth (8) Addition to the City of Grand Island Hall County,
<br />Nebraska
<br />TOGETHEa 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, a-ater, w•atar rights, and
<br />water stork, and all fixtures now or hereafter attached to the property, all of a-hich, including replace-
<br />ments and additions thereto, shall be deemed to be and remain a part. of the property covered by this
<br />_lortgage; and all of the foregoing, together with said propert} tar 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 gereralh• the title to the Property against all claim: and demands, subject to any
<br />easemenL,- and restrictions listed in a schedule of exceptiors to coverage in any title insurance polls}• in-
<br />suring Lender's interest. in the Propert}°, or (21 attorney's opinion of #iile {rom abstract of title certified
<br />by bonded abstracter.
<br />Paovtaen ~tw,~vs, and these presents are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, to-u-it:
<br />The Borrower aerees to pa}• to the Under, or order, the principal sum ai T`-??~•1'! -TtiQUSA,ND.=~T~?0 . -
<br />_.~?~110(1---- -------_~~___ __~-_-w_ . , 3©,000.00
<br />Payable as prmided in a note executed and deh~-erect, con~•ur*entl~ heren•ith, the final payment of principal,
<br />if not sooner paid- on the -- 1st - day of dt;1y ~ 20s'>8
<br />L:,rt~xx Covgxa~-;~. Borrower and Lender covenant and t,gree as follows:
<br />i. Payment of Print ;i Iaterest $ortvwer shall prumptl} pad when due the principal of and in-
<br />terest on the indebtedn~,. c~idt-need b}- the _'iote. vrrpa~ment snd IatY chargos as provided in the \ote,
<br />and the principal of and inters. t on any Future Advances s<~ured b~ this \iortaage.
<br />Z Funds for saxes mmd lnsarance. Subiet•t to Lender s option under paragraphs 1 and S hereof, Bor-
<br />rower shall pa}- to Lender on the das- monihl~ in=talln;ents of principal and interest are payable under the
<br />Note, until the Note is paid in foil, a sum therein -'Fund-"1 dual to one-f;velfth of the y-earh° ta5es and
<br />assessments which may attain priority over this \lortgagr, and ground rents on the Property, if any plus
<br />one-twelfth of yearly premium installments far hazanl insurnnce, plus one-twelfth of yearly premium in-
<br />sta,bneats #or mortgage insurance, if an}•, all as reascn~bl} estimated ins±ially and from tune tc time by
<br />Lender oa the b~cis of a~=.sments a_nd bills and reaeanable estimat,zs thereof, Lender shall app15- the Funds
<br />to Pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for .,~
<br />honing and applying the Funds or verife-ing and erompiling said a.,-se: sments and bills. T'he Lender shall
<br />give to the Bortnwer, n-ithoat charge, an annual acrnunting of the Funds showing credits and debits to the
<br />Fuads and the purpose for a°hich each debit Yo the Funds was made. The Funds are Pledged as additional
<br />security for the sums sc+rumd by this \lrtgage. The Borrower agrees that the Funds may be held by the
<br />Leader and rommingied with other funds and the Lender's aw~t funds and the Lender may pay such items
<br />from its own funds and the i ander shall not be liable for interest or dividends on such Funds.
<br />If the amount of the Fuads held by Letrder, together with the future monthly installments of Funds
<br />payable prior to the due dates of t8aes, assessments, insurance premiums and ground rents, shall exceed
<br />fire amount regna~ed to y said fazes, assessments, insurance premiums and ground rents ac they fall due,
<br />snch e=cras shall be, at Borrower's option, either promptly repaid to Borrower or credited io Borrower on
<br />monthly installments of Funds. If the amount of the Funds held by Lender shall not he suftic•ient to pay
<br />~~ assessments, utsuraaee premiums and ground rents as the}- 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 Borrower shall, by sn increase in monthly installments of Funds required,
<br />repay the deficiency within the IFUnd accounting period.
<br />tTpon pa}znent in full of all sums secured by this'Mortgage, Lender shall apph• Funds held a, a credit
<br />against all sums due.
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