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<br />„
<br />- INDIY+~IDUAL
<br />DUE= ON SALE
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<br />-~~~ OPTEp€tiEAI_ FUTURE ADVA€YCES
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<br />1 SAVINGS E+E1IVD
<br />~r~~+~ For+w Na. ~zaa7e
<br />~~~'~•~ Loan Number____42458 - 188__-1____
<br /> Type Branch
<br />79--'€~?5~65
<br />9VtORTGAGE
<br />THIS MORTGAGE, made and executed this ...._...i~._ ............._- day of .._A~usb..___.._..._..... A.D.,
<br />19-_'j. .., between the Mortgagor, ..Harley.- D,_ Schroeder-- arid.. Sharon. K. _ Schroeder,-..husband..azid.
<br />wire, jointly.and each, in. their .own. right.,...
<br />of Grand Island ,County of .__._..-.. Hall___-__-_-_._ ., State of ..Nebraska...-.,_, hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOGIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns. hereinafter refer: ~d io
<br />as Lender.
<br />WITNSSSETH: Tha the said Borrower for and in consideration of the sum of FIFTY_THREE-_TH4IISAND
<br />SIX HUNDRED AND NO~100-------------------------------Tjollars (US 8---53,600,00-.....---..._..-..}
<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 Thirty-One (31), R & B Second Subdivision, Hall County, Nebraska
<br />Tasen'tssa c+~zth ail the improvements row 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, ail 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 />Mortgages; and sll of the foregoing, together u-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 />~ntent_s and r=~.trictions list€;d in a schedu}e of exceptions tc coverage in any title iri~uranc'ti policy in-
<br />attrin;~ lR.nder's int,=rest in the Frup-rrty, or ?} attori,r-y'£ opinion of title fttim ahrtraot of title cartifi~d
<br />by Bonded abstracter.
<br />Pacivrnt:o At.tvax•s, and these presents are executed and deIiver€cl upon the following conditions, agree-
<br />mPnts and obligatiuets of the Borrower, to-wit:
<br />The Borrower :ti;rees to pay to khe Lender, or order, the wincipal sum of .-FIFT~_THIIE>~..T.RtIUSA~ .
<br />-SIX.~U;tlill~t) aIdL_q~j-I~o- a--- --___ ___..__-------Dollars (t'S T §~..(?QQ.~O~ ....... .........)
<br />-
<br />payable =ts pravicled in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not- sae»er paid, on the . _ ~.5'l", clay of .. - ;4~~~E'mbes IXA. 2QD9
<br />UxtFOeht CovF.xtNTS. Borrower and Lender covenant and agree as follow,:
<br />1. Payment of Principal and Interest. Harrower shall promptly pay when due the principal of and in-
<br />tarast an the inilebtc+dness evidenced by tFie Note, firt•paviurnt and lEite charges as pru~-ided in the iVaie,
<br />and the principal of and interest. on any Future Advance. secured by this Mortgage.
<br />Z. Fund3 far Taxes and Ingurmrce. Subject to Lender'. option under paragraphs ~t and ;+ hemof, Bor-
<br />rower shall Itay io I.c;nder on the day monthly installments of principal and interest are payai~le under the
<br />?Vole, until the Note is t>aid in full, a sum {herein "Funds") equal to ones-twelfth of the ~•eariv tare=s and
<br />zuw,sasamenty which map attain priority aver this iarLa:*e, and ground rents on the Property, if any plus
<br />one-twelfth u€ yearly premium installments for hazard insurance, plus vne-twe.l#th of yearly premium in-
<br />stallments far mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Loncler on the basis of assessments and bills and reasonable estimates thereof, Tender shall apply the Funds
<br />tc tray said taxes, assessments, insurance t}retivums and t:t'ound rents. l,e_*tder shalt make no rhar~e for so
<br />__ holding and apalying the Funds or verifying and cantpiling said azvsessrxtents and hills. The Lender shall
<br />i;-ive to the I'~riawvr, without charge, an annual accounting of the Funds showing credits apd cubits to the
<br />Funds and the purpose for which each debit to the Funds was made. Tha Funds are pledged as additional
<br />security for the sums secured by this Mortgage. The $orrower agrees that the Funds may la bald by the
<br />Lender and camrningled with other funds and the bender's own funds and the Lender may pay such items
<br />from ire own funds and the Lender shall not be liable for interest or dividends on such Funds.
<br />If the amouai of the Funds held by Lender, together with the future monthly installments of Funds
<br />payable prior to the duo dates ~f taxes, assessments, insurance premiums and ground rents, shall exceed
<br />the amount requited- to -pay said taxes, aas~,gments, insurance premiums and ground rents as they fall duo,
<br />such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on
<br />men*.hly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br />taxes, assessments, insurance gremiums and grouted rants as they fall due, Borrower shall pay to Lender
<br />any amount ner~sary to make up the deficiency within thirty days a#ter notice from Lender to Borrower
<br />n+ruasting payment thereof, or Harrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficiency within the Ftmd accounting period.
<br />upon payment in full of a;l sums secured by this i4fortgage, Lander shall apply Funds held as a credit.
<br />against sll sutras due.
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