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~~~.it' QF'Td NAL AFUTURE ADWAk"~ICI=S
<br />SA'4fIT~tGS FUND
<br />FORM t:a. '780-479
<br />Loan humber__4239i---- I88 ------1--
<br />;roe s.ant~
<br />79~.~~~ MOF?TGAGE
<br />THIS ~~fORTGACE, made and executed this _.__..X..........__ -... day of _~ u., y.us..~..._.-..__...-. A.D.,
<br />i9.--7.'~ ., r,:tcveen the Mortgagor, ..Ronald--D..Emken and Nancy J, Emken, hu~band_and_-wife;-,-.-.--
<br />A1~erdo P Bo~alm~n, Sr. and Virginia A. Bowman, hasband and wife-,. jointly. and..severally
<br />•~rt -teach 3a t: r~omn~r2 t~--
<br />af .......rand Iceland - =County of .-. Hall ,State of Nebraska. _ _, hereinafter referred
<br />to as the Harrower, and the Mortgagee, FIRST FEDERAL SA~'INr5 A-ND LOAiy ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68561, its successors and a.~igns, hereinafter referred
<br />as Lender.
<br />4YtTxesse•rx: That the said Borrower for and in consideration of the sum of .TEN..TiiQUSALQII_THRF`F.
<br />il[,'~DRED-_ANt7_NOJ1Q0--------.---------r..--rr..--•-°----c--..Dollars (US ~._14-,.30D..11D....-....__-..--.)
<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 _...-.Aaa.7._.._...._ ................. State of Nebraska:
<br />The South 49.1 feet of Lot One (1), in Block Four (4}, in Windolph`s Addition, city of
<br />Grand Island, Hall County, Nebraska
<br />TocETxi e 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 naw or hereafter attached to the property, all of which„ including replace-
<br />- ; menu and additions thereto, shaIl be deemed to be and remain a part of the pmgerty covered by this
<br />Nfortgage; and ail of tine foregoing, together wit h said property (or the leasehold estate in the event this
<br />Mortgage is on a leasehold} are herein referred to as the "Properly".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to mortgage, grant and Canvey the Property, that the Property is unencumbered, and that Harrower 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 exreprians to coverage in any title insurance policy in-
<br />suring Lenders interest in the Property, ar (2} attor!tey's opinion of title Pram abstract of title certified
<br />-= lay bonded abstracter.
<br />i'ttrtvia~n ALWAYS, and those presotxts are executed and delivered upon tine following canditiotzs, agree-
<br />= rnents a°d abltgat:ons -~f the Darr:}°er, to-wtt:
<br />,, __
<br />'E'he Borrower agrees to na•r to the Lender, or order, the principal sum of . T~•t~'-. T~~US~1ND _ THREE
<br />':, HUIcTD?.ED AND NOj100°-~-----a-------°-------°-------°- Dollars (t'55..10,300.00 }
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, on the -_..._lst----.-.----. day of -----....August ..... ......... .... . >>~ .2004
<br />Uxtr~aaNt CL)YF.NANTS. Borrower and bender covenant and agree as faUau•s:
<br />1. Payment al Principal and Iaterest. Bvrmwer 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 principal of and interest on any Future Advances secured by this Mortgage.
<br />2. funds for Taxes and Insurance. Subjeci. to Lender's option under paragraphs •f and ;i hereof, Hor-
<br />rower shall pa/ to i.ander on the clay monthly installments of principal and interest are payable under the
<br />Note, until the Note is paid in full, a sum (herein "Funds"} equal to one-twelfth of the yearly rases and
<br />assessments which may attain priority over 1:his Mortgage, and ground rents on the Property, if any plus
<br />one~twelftit of yearly premium installments far hazard insurance, plus one-twelfth of yearly premium in-
<br />atallments #or mortgage insurance, if env, all as reasonably estimated initially and from tune to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay ~e;.d t~v~. a~~~sanenta, insurance premiums and grat:nd rertt~s. Lender shall tttake na charge for sa
<br />holding .end applying the Funds ar verif}ping and compiling said assesssment4 and bills. The Lender shall
<br />give to the Borrower, without charge, an annual accounting of the Funds showing 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 $orrosver agrees that the Funds may be held by the
<br />Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br />from itg own funds and the Lender shall hat be liable for interest ar dividends an such Funds.
<br />If tba amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />payable prior to tlts due dates of taxes, assessments, insurance premiums and ground rents, shall exceed
<br />' the amount required to gay said taaes, assessments, insurance premiums and ground rents as they fall due,
<br />such eacess shall be, 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, sssessmen#s, 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 Harrower
<br />requesting paytnent therehf, or Borrower shaIl, by an increase in monthly installments of Funds required,
<br />repay the deficiency within -the Ftirid accounting period.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held as a credit
<br />against all sums due.
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