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<br />i'oRx Nn. 72(3-479
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<br />Loan ;Vurrsber__ 42493 _-~- 1 _--_-- i --
<br />lU~®RYGAC E
<br />THIS D-tORTGAGE, made and executed this _ .___.~~ ............... day of .....~ .-~....-.-....._..._- A.D.,
<br />19._7°f.-, between the bfortgagor, .-.Uelbert__ D.-.-Theas~eyer and Lois A. The~mever; husband
<br />__.and--wife.:..jointly_an3 __ach in their own right,---------------------
<br />- - ._......... ... - - ....... . . ................. . .. ~- -•°---
<br />of ._... Gra*rd--island......-, Counts of ----.-Ball...--------...------= State of ---Nebraska- ----> hereina#ter referred
<br />to as the Borrower, and the Alcrtgagee, FIRST FEilERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68:101, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />~'irrTxrs,£Tx: That the said Borrower for and in consideration of the sum of -.FORTY-FOUR
<br />---. THOUSAt~I-lt AND NO/ I00------------------°°----------Dollars {US S. 44 000.00 -- }
<br />- -. .. r . .............
<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 Nebraska:
<br />Lot Forty (4D) Western Heights Third Subdivision in the Northeast Quarter
<br />Southc~est Quarter (NE1L SWIL) of Section il, Township 11 North, Range IO West
<br />of the fith P.M., Hall County, Nebraska
<br />TOGcTSES 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 ail of the foregoing, together with said property (or the leasehold estate in the event this
<br />Mortgage is on a leasehold} are herein referred to as the "Property".
<br />Hormwer 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 tine insurance poffcy in-
<br />suring Lender's interest in the Property, or {2} attorney`s opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />PRC~vtvEU Ac,wnvs, and +_hese presents are executed and delivered upon the following conditions, agree-
<br />: "zt~ any: abligatians a, the Bcrrawer, tc-wit:
<br />T_h_e ~r_~;=~or agr~s to p_ay to the Tinder, o* order, the p~nci,:al wan' of . FORTY-FOUR THOUSAND
<br />AIvD NGf10D-------------------------------------- Dollarstt'S y_ 44,000.00 )
<br />payable as provided in a note executed and delivered, enncurrent.ly herewith, the final payment of principal,
<br />if not sooner paid, on the ._..._-First __ _ da}' of ___.M~' _...-... ~ 2~
<br />Uxteosu CovExnxrs. Harrower and Lender covenant and agree as follows:
<br />I. Payment o; Principal end Interest. Borrower shall promptly pap when due the principal of and in-
<br />ierest on the indebtedness evidenced by the Note, prepayment end late charges as provided in the Nate,
<br />and the principal of and interest on any Future Advances secured by this illortgage.
<br />2. Pantie for Taxes and Insurance. Subject. to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br />rower shall pay t.o L,ender 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 ldort.gage, and ground rents on the Property, if any plus
<br />one-twelfth of yearly premium installments for hazard insurance, plus ore-twelfth of yearly premium irr-
<br />stallments 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 r°~~ ~~~d t~x2s, assessments, insurance premiums and ground rent;. Lender shall make no charge for sa
<br />holding and applying the Funds or veri#ying 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 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 fox 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 />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 ;`eld by Lander, together with the future monthly installments of Funds
<br />payable prior to the due dates o4 teas, assessments, insurance premiums and ground rents, shalt-exceed
<br />the amount required to pay said taaes, 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 amc-ant of the Funds held by Lender shall not be sufficient to pay
<br />taxes, assessments, insurarce 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 p.• gent thereof,, or Borrower shall, by an increase in monthly installments of Funds required,
<br />repay the d€-. .ency within-the Fund accounting period.
<br />Upon payment in full of ail sums secured by this Mortgage, Lender shall a^ply Funds held as a credit
<br />against all sums due.
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