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<br />~ ~ FORME 7•ia. 721-479
<br /> soar, Pdumbe*--42113_-- --188- _I_--
<br />',w: 9.aFCn
<br />79® ~p~-:L~`~ M CJ R T G A G E
<br />'T'HIS :MORTGAGE, made and executed this .. _....__7 -- ----....... day of ...-.~ . ............------...-- A.D.,
<br />19.~~..--, between the &iartgagor, ...-Gad;I..I.e-Q..~Qanings...aud..BhQxxy--l3~aa..,7enai gs.,..hushaa ~.----.---
<br />.-....anti.-~ifg,._3ointly.-and-each,.fr.-their.own__ri~ttt,..--c°rc-°-_--------.-.--crr.----- ---
<br />-- ---
<br />of _Grapd-,Is.I2nd.------- .-, County of .--.HaI,l ...-.--- .---, State of _73ebXaslca....- -, heteina#ter referred
<br />to as the Borrower, and the 1!?artgagee, FIRST FEDERAL SAS'INGS P.ND LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "~" Street, Lincoln, Iti'ehraska &i3501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />W[TNESSETH: That the said Borrower for and in consideration of the sum of T1:€IATY EIGHT..~IiUUBAND
<br />__FOUk HiJNDRED SEVENTY FIVE AND NO/i00 -------------
<br />- - - - - -- - - - - - - -_- ._ --- Dollars (US 8_ 38,47.$'-~- - ...- ...- )
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />following described property located in the County of ......13x11... _.._ .._..-........, State of ATetraska:
<br />Lot Ten (10} Block `I'*so (2) in Dill and Huston's Addition to the city of Grand Island,
<br />Hall County, Nebraska
<br />Ti3irETHER with ail the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br />ments and additions thereto, shall be deemed to be and retnain a part of the property covered by this
<br />Mortgage; and all of the foregoing, tegether :~~ith said property (or the leasehold estate in the event this
<br />Mortgage is on a leasehold) are herein referred to as the "Property".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to mortgage, grant and convey the Property, That the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all claims and demands, subject to any
<br />easements and restrictions listed ir, a schedule of exceptions to coverage in any title insurance policy in-
<br />stu:n g T.,; rider's interest in the Property, or ; 23 attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />P;ic7vtTii;t) At,~vAYS, and these presents are executed and delivered upon the following conditions, agree-
<br />anents and nhtigatinnc Qf +_ha ~~rrr3cvnr, fn_•y, it:
<br />T'ne Borrower agrnes io pay to the Lender, or order, the principal sum of ...TIIIIi.1'"Y...$IGHT.-THt2tI59AU)
<br />.-._:-Ft3JR.uLtvT'ilF,ED-,SEVE;;ITY--FZVE.Eh'SID.-:v~/lOQ----..~_---~-_.-_..._Boliars (US X8,4-7~.DD........-------.---. )
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not. sooner paid, on the ..-.Fits-t........_.... day of -.-August--- ..,_--_ ................~ . 2009
<br />Uxtaoez4t C,ovt:xnrvrs. Borrower and Lender covenant and agree as follows:
<br />1. Fayment of Principal and Interest. Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the :`'ore, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on any Future Advances secured by this Aortgage.
<br />2. f'u;tds foe Taxes and Insurance. Subject to Lender's optiirn under pan~graphs 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 full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and
<br />assessments which may attain priority over this Mortgage, 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 />staIlxnents for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay said taxes, assessments, insurance premiums and ground rents bender 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 showing credits and dehita to the
<br />Funds and the purpose for which each debit to the Funds was made. The Fundy 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 own futtds and the I•ender 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 prior to the due dates of tines, assessments, insurance premiluns and ground rents, shall exceed
<br />.the amount required to pay said fazes, assessments, insurance premiums and ground rents as they fall due,
<br />such excess 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 Fw~ds held by Lender shall not be suflic~ent to pay
<br />tales, as<sessrr,ents, inraexanro premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />any amount necessa.°i tv n-,ake up the de~uCiency wit'nin thirty days after notice from Lenderro Borrower
<br />ruesting payment thereof, or Borrower shalt, by att increase in mon.hly installments of Funds required,
<br />repay the deficiency within- the F',:nd acec?~~tti~=tg period.
<br />Upon payment in full of all sums secured by this lVfortgage, Lender shall apply Funds held as a credit
<br />against all sums due.
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