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<br />IPIDI!(fDUAL
<br />DUI; QN SALE
<br />OPTICfI~IAL FUTURE ADVANCES
<br />SAVINGS FUND
<br />Frrww Na. 72tt-479
<br />Loan ^lumber_ 42590 - 188 - 1
<br />- Type B.anc~
<br />MOi47'Ge4GE
<br />THIS MORTGAGE, made and executed this ......_.....1.~°....._....... day of .......~~"~- .`:'`'.~ ............. A.D.,
<br />i9..~~..., between the Mortgagor, ..Peter H. t.laussen III, a single Berson, ---- . ... , ., _
<br />of ._--Grand Island......... County of ----,--- Ha11 _- _--.--_...., State of -----Nebraska..-- ,hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST' FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 1`?35 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WtTNES5ETH: That the said BQrtOWer for and in consideration of the sum of .-SEVENTY..FAUR..THQt1SAND
<br />........ TWO_HIJtJDRED_.FIF~Y-.AND. NO/100- -.----.---r.---.----r..--d3ollars (US $-x.4.259..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 ._....1;~.)-7.-_._-...._._.....-_...., State of Nebraska:
<br />Lot Twenty (20) Block Three (3) in Southern Acres Addition to the city of Grand Island
<br />Hal County, Nebraska
<br />Taf;E7'HEa with all the improvements now ar hereafter erected nn the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stack, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br />menu anti additions thereto, shall be deemed to be and remain n part of the property rnver+e€t by this
<br />Marigage; and all of the foregoing, together with said propert; (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 convey the Property, that the Property is unencumbered, and that Forrower will
<br />warrant and defend generally the title to the Property against all claims and deneands, subject to any
<br />,,,,.,,.,..n.±re or.i .?«r.;.,firxn¢ i:atp~ it a crhPSinlP of eseetitions to co\•erage in any title insurance poticy in-
<br />suring i.endcr`s interest in the I'mperty, or {`2? attorney's opinion of title fro!n ab~;tract of title certified
<br />by lx~ndetl abstracter.
<br />1'aavtnEU At.ways, anti these? prc=:c=nts are executed and delivered upon tht• following c~nditiona, agreu=
<br />~igrrt~ N3;:1 abl ~,~.:_ans 4zf tk€, Barrnwer, tn_;,,i{..
<br />The llarrawer a rte; to pay to (he bender, or era'ler, th, pr`iricipai Burn of S>;VEY'!'y F4F,eR TH(?~JSA:c:B
<br />t~ti 11LiNDREti 'IF`>`Y ANJ~ NOI100 ----- --------..____-i)ollars { [ ~S $ i4, 250. t70 )
<br />Ixtyabie as provided in a note executed and deliven~ci, concurn~ntty hen•tvith, the final payment of principal,
<br />if not soanrr pai,1, on the . ...):is-st.. clot of &ei?tttmbez X9t ~"Q~8
<br />LiNtFOani C~C)t'ENANTS. 3arrawer and L,csctder covenant xnci auree as follows
<br />1. Payment of Principal and lntnrast. Borrower shall promptly uay when due the prin~•iibgl n{ and in-
<br />tercH;t on thy indnbtedne;s evitienrrd by the Nate, prepnytnent and~late charges as prnvidE•c[ in 'the Note,
<br />and the principal of and interest an rmy Future Advances sccurcd by this Mortgage.
<br />2, Ftandg for Taxes and Inauranra. Subject to Lender'. option under paragrnphs 4 anc! ;~ herf~t€f, Bor-
<br />rower shall pay tv Lender an the day monthly installments of princii~al aml interest are laayebte under the
<br />Ne:t9, anti! tht~ ldt:tr is psiel in full, a stini (15erc?in "Funds") equal to one-ttvelft.h of the yearly taxe` and
<br />°sn°s?mentc which Wray attain prior=ity aver this ivfortgage, and ground rents an the Property, if any plus
<br />one-tweift.h of yearly prerttium installments for hazard insurance, alas one-twelfth of yearly premium in-
<br />stallments fur marigage insurance, if env, aU as reasonably €~stimated initially strd irrem time to time by
<br />Lender on thr: basis of assessments and bills and reasonable estimates thereof, bender shall apply the Funds
<br />•~ yen
<br />to pwy Stu ,~- asersm€nta, insurance prarniufns snd ground rents. Lander slraii inane nrr charge far sn
<br />{r~rr,s -Fro ~e~[3rjan~ ehe Fund> ar verifying and canipiling :?aid assessments anti bills. `ihe Lsn€ter shall
<br />give tc> 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 Ftutds are pledged as additional
<br />security fur the sums secured by this Mortgage. The Harrower agrees that the Funds may Ire held by the
<br />Lender and r:ammingled with other funds and the Lender a own funds and the bender may pay such items
<br />from its own funds acrd the Lender shall not be liable for intare,st or dividenels an such Funds.
<br />If the amount of the Fun's held by bender, 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 excacs shall be, at Borrower's option, either pro=reptly re aid to Borrower or credited to Borrower on
<br />monthly 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, Harrower shall pay to Lender
<br />any amount necessary to make up tree deflcienc_y within thirty days after notice from Lender to Borrower
<br />requesting ppayment thereof, ar Borrower shall, by an increase in monthly installments of Funds required,
<br />ropey the cleficietrcy within the Fund accounting period.
<br />Upon payment in full of all sums secured by this Mortgage, Lender sh,': apply Funds held as ~ credit
<br />against xll sums due.
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