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INDIVEDUAL
<br />DUE ON SALE
<br />~I~~ 9 OPTIONAL FUTUi2E ADVANCES
<br />SAVINGS FUND
<br />FoaM Nn. 720-479
<br />Loan Number__425~9___-_199__-_1___
<br />Ty De B,anch
<br />79-~Q~5219 M®RTGAGE
<br />THIS MORTGAGE, made and executed this .................lp__...._. day of _._.A~ab....._..--....._... A.D.,
<br />19.....7.x., between the Mortgagor, Rodney_E....Clauaen..anii.Pamela..A....Clausen,.-husband_and..wife,
<br />j.o3.ntly..and_each-.in...theiz...ovrn..zi.ght.,-- ............... - - ----- -- ~ - •- _...........-- -- -- - - ---- --....---
<br />of ..-- Grand..Is~an51_--...-„ County of .............llall....__......., State of ..Alebraska..-._., hereinafter referred
<br />to as the Harrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />• LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WrTNessaTx: That the said Borrower for and in consideration of the sum of .THIRTY-THOtJ.$ANp.-..-,
<br />AND NO/100----------°------------------------------- Dollars(US X30,000.06-- -----~)
<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 ..-._.. Ha22..._.._....-__..-....., State of Nebraska:
<br />I.ot Four (4} in Block Two (2) Capital Heights 2nd Subdivision being a part of the Southwest
<br />tL of Section 2 Township 11 North, Range 10 West of the 6th P.M., Hall County, Nebraska
<br />TocETxax with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rants, royalties, mineral, oil and gas rights and pmfite, 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 all 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 />Harrower 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 tha# $orrawee will
<br />warrani and defend generally the title to the Property against all claims and demands, subject to any
<br />easements and restrictions lisfed in a schedule of exceptions to coverage in any tide insurance policy in-
<br />suring Lender's interest. in the Property, or {2) attorney"s opinion of title Pram abstract of title certified
<br />by bonded abstracter.
<br />I'ac~vtt,ia ALwavs, and these presents are executed and delivered open the following conditions, agree-
<br />ments and otrHgations of the Harrower, to-wit:
<br />The Borrower a~,rc>,~s t« pay ta, the Lender, or orrler. the principal Sum ofT.IiI~T~ T>~!?US91tL1..9t1I).-
<br />.~Il?II~O _..__ _-P________ ___________ __________..-..Dollars {US ~- 3.0>Q00.,-Q0 _ ..-- __ )
<br />_ _ _..-.
<br />lrayable as provided in a note executed and delivered, concurrent h• he*ewith, the final payment of principa{,
<br />if not soorrr paid, on the .. _- - lit _ ._ day of .._. qugltst 341. COQ}
<br />Uxri•~ranr CovFNnx•rs. Borrower and Lender covenant and agree as follow:::
<br />1. Payment of Principal ozrd Interest. Harrower shall promptly pay when due the l,rincilual o[ and in-
<br />terest an the indebtedness evidenced by the !M1TOte, prepayment and late charges as pravialetf in t}ae Nate,
<br />and the principal of and interest on any Future Advances sec•urcd by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and ~ hen>of. Bor-
<br />rower shall pay to Lender on tlae dny monthly installments of principal and interest are payable under the
<br />Note: until the Nuts is paid in full, a sum {herein "Funds"I equal to one-twelfth of tlae yearly gases ansl
<br />assessment. wtair:h may attain priority aver this hfortgage, and grounrt 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 />etallments for mortgage insurance, if env, all as reasonably estimated initiaAy and from time to time 6y
<br />Lander on the basis of assessments and trills and reasonable estimates thereof, Lender sha13 apply the Funds
<br />*_a nnv s_a'd trxa=, aaaezsmetrte, insurance r-~,nir:.n:v and ground mats. Lender =1:a1! make na charge frr ..a
<br />holding and „nnlving }he Fonds ar v°rifyng a^d ' usaapilin K s^=d. as_se_~sments and bills. The lender shall
<br />give io the 8arrawer, without chaxge, an amrualFaccounting of the Funds showing credits and debits to the
<br />Funds and the purpose for which each debit t~, the Funds was made. The Funr#s are pledged as additional
<br />seeurrty for the sums secumd by this lvlartgage. The Borrower agrees that the Funds ours be held by the
<br />T ender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br />from its oµm funds and the Lender shall oat 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 da#es o', cages, assessments, insurance premiums and ground renfs, shall exceed
<br />the amaunt required to pay said taxes, assessments, insurance premiums and ground rents as they fall due,
<br />such excess shall be, at Bor'rower's option, either promptly repaid to Borrower or credited to Borrower on
<br />mont:dy installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br />taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />any amaunt necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br />requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficiency within the Fund 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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