|
INDIVIDUAL
<br />DUE ON SALE
<br />OPTIONAL t=UTURE ADVANCES
<br />SAVINGS POND
<br />FORM No. 720-479
<br />Loan Number__42579___-_,18$_-___I_
<br />Tro. e.a~~n
<br />79.,..=$~ M C~ F~ T G A G E
<br />THIS MORTGAGE, made end executed this _......_..-1st............ day of ......._..pugcyst-..._.......... A.D.,
<br />19.7.}....., between the Mortgagor, .. _..Y,?xna..M....Frandsan,..a.single._p~sson._._._......._._..__.__._...._..._.
<br />of __._Grand.-Island-.....-, County of ...._..lIall..._._.._........, State of ....Nehraska..._., hereinafter referred
<br />to as the Borrower, and the i~fortgagee, FIRST FEDERAL SAVINGS AND LOhN ASSOCIATION OF
<br />' LIIQCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WtTxessETx: That the said Borrower for and in consideration of the sum of ...FIk~'EEN_THQIJ3AND_.
<br />...._....AND..IZDJ.IQQ_.----°------.-°-----------------c-----Dollars (US $..._15,QQD_Dtl._ ._ - )
<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 .._.._......Hall.._...._......__.._, State of Nebraska:
<br />Lot Eifiht (8) in Block Twenty-six (26) in Gilbert's Third Addition to the city of
<br />Grand Island, Hall County, Nebraska
<br />Toct;'rxH:a with ati the improvements now or hereafter erected on the property, and ail 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 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 />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to martgage, grant and convey the Property, that the Property is uneneumheretl, 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 title insurance policy in-
<br />suring Lender; interest in the Property, or (2} attorney's opinfnn of title from abstract of title certified
<br />by handed abstracter.
<br />Psovroeti A[,ways, and these presents are execuu=d and delivered upon the fallowing c'anclitions, agree.
<br />meats an.t :,l.Lgatiart:~ of i.he 13arrawer, to-wa±_
<br />The Borraaer agre€~o to pay to the Lender, ar seder, the principal stem of l•'IFI'htL^I.. TII~'IISAI3D-- -. ..
<br />_- .AfiID..N4J.100..-----~-.--~_.~__m__et~.~~~_~._s_e,~~~--------r.DnUara (ItS 8 . -1.5,QOO...QD_. }
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not saaner paid, an the .... ast ._ -day of -- _. August Y~ 'OD1F
<br />Ux[t•caxnt Cov[svax'rs. Borrower and Lender covenant and agree as #allau•s
<br />1. Payment of Principal and Interest, Harrower shad promptly pay when due the principal of and in-
<br />terest ar. the indebtedness evidenced by the Nate, prepayment and late: charges as Froyidecl in the Note,
<br />and the principal of and interest an an}= Future Advances secured by this Mortgage.
<br />2. Fonda for Texas and Insurance. Subject to Lender's option under paragraphs 4 and 5 hercrof, Bor-
<br />rower shall pay to Lender an the da}° monthly installments of prira•ipai and interest are payable under the
<br />Nate, until the bate is paid in full. a sure (herein "Funds"} equal t.o one-twelfth of tits. yearly taxis and
<br />assessments which may attain priariiy over this ~:lartgage, end ground rents an the Property, if a.ny plus
<br />one-ttvelfth of yearly premium installments for hazard insurance, plus one=twelfth of yearly premium in-
<br />atalhnents far mortgage insurance, if env, all as reasonably estimated initially and from time to time by
<br />Lender an the basis of assessments and bills and reasonable estimates thereof, Londer shall apply the Funds
<br />keg ,L^1. ., :J AuO~ t' - -_ ___ t3 LG lta - f. _ -
<br />=: ~ - ~ as,~ssmerr w .. ~ pry-msunts a..d ;;round ran ~nder s 11 mesa ra charge for so
<br />h„t~~;,; ~nd e c:.;.,.,~the Fu;idsjR :,•k~_ a ,~_~. ~ ~ ~~„_ ~__
<br />=.g pp•s===a ~r~~,t^~s,rg 3rra ~iTnfrzrtcrs Baia anarsarnenis ar~u otus. Tlir= Censer sh.xll
<br />give to the Harrower, without charge, an annual accounting of the Funds shaving credits and debits to the
<br />Funds and the purpose for which each debit to the Funds wag made. The Funds are pledged as additional
<br />security for the sums secured by ibis Mortgage, The Borrower agrees that the Funds may tte held by the
<br />Lsxnder and camminglecl with other funds and the Lender's own funds and the Lender may pay such items
<br />from its own funds and the bender shall not be liable for interest ar dividends on such Funds.
<br />If the amount a# the Funds held by Lender, together with the future monthly installments of Funds
<br />payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed
<br />the amount required to pay said taxes, 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 Funds held by Lender shall eat be sufficient. to pay
<br />taxes, assessments, 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 Sarrower
<br />requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required,
<br />repay th€: deficiency within the Fund accounting period.
<br />upon payment in full of all sums secured b,V this Mortgage, Lender shwa apply Funds held as a credit
<br />easiest all sums due.
<br />
|