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INDIVIDUAL
<br />DUE OaN SALE
<br />~~' C}PTtONAL FU"P'Ui~BE ADVANCES
<br />~ SAVINGS FUND
<br />^ ~~e~-, FORM Na. 926-479
<br />~~%~~ Loan Number___42736 -188_ - 1
<br />___ TYOe_____8rench
<br />M O R T G A G E
<br />73- ~~~351
<br />THIS MORTGAGE, made and executed this .-... __.~.Z...._...-._... day of ......._..Aug•»st.....__...--.. A.D.,
<br />19._79.., between the R4ortgagor, . Robert C. Scheel. and Mildred A.. Scheel,,.husband., ~nd.i?it1;~.,
<br />3ointly and each in their own right,
<br />Grand Island Hall ., State of .-*teb.raska_,_._ ,hereinafter referred
<br />of .......................... ... .County of .. -- _.. -
<br />to as the Borrower, and the bfortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />• LINCOLN, 1235 "N" Street, Lincoln, Nebraska 6$501, its successors and assigns, hereinat"ter referred to
<br />as Lender.
<br />-- at the sa•d Borrower for and in consideration of the sum of THIRTY ,EIGHT.-THOUSAND
<br />~~,~~$5 p,T
<br />NINE ~bRE)) ~~ AND NOj100------------------------
<br />---- --- - -- -_ ................... ..._ ........-.. - - --- _.-._-._.......-.-....-...._.'Dollars (US S.- 38,950.,00.....-.....__.._.)
<br />paid by said Lender, does hereby mortgage, grant and conveyy to Lender, its succ~sars and assigns; the
<br />following described property located in the County of _--Hall _-_._._._ ................ State of Nebraska:
<br />Lot Eleven (11), Black Ten (10) Ashton Place, an addition to the city of Grand Island, Hall
<br />County, Nebraska
<br />Tet:;~Ttta:tt 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 profitst, water, water rights, and
<br />water stock, and all fixtures now or hereafter attached ttt 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 atl of the foregoing, toge#.her with said property (or the leasehold estate in the event this
<br />Mortgage is an a leasehold) are heroin 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 genernlly the title to the Property against all claims and demands, subject to any
<br />easemanis and restrictions listed in a schedule of excepLians to eaverage in any title instrance policy in=
<br />engine; I~ntler's interet in the I'r;~ft•rty, ar t2) attarnas='s vpinian of title from abstract of title cartift~d
<br />by banded ahstraeter.
<br />PRC>i•tarr, Aa.w~~s, atta# these pr ~,cnts arcz executed and delivered upon ttte following condition3, agt~-
<br />ntcrtts!a and ahlignti~•ttu of the. Borrower, to°et•it:
<br />The Ilormwer artrc*c•s to uav Cc_. the [kndc^r, ar ors#er. the- ttrin<:itutl suns of -THIRTY E1C+tiT T~tOUSANI7
<br />_ ..
<br />.dINL 1t11t,~Rt.C P,'~ A1dB` 1~T1, 1flL`a~--_---- ___.___-__m-e- t, x ~8 450, ~C~ )
<br />payable as provided in a ante execute*d anei delivered, concurn•ntly herewith, the final lktyment of principal.
<br />if not loaner paid, an the lsti - day of 3t~ptctntssr , !kk :?OOt?
<br />Z?str<>xnr t'ot~tw~uTS. liorrawer and Lander covenant- and agree as folloN°s:
<br />1. Payment of Principal and Interest. Borrower ~t:all promptly pay when due the principal r,f and in-
<br />terest. an the indelttecin~:.s t~vide:nced by than Note, prtxpayrnent and late charges as pnn•ide.i in the Note,
<br />and the princit>ai of and interest on any Future Advances secured by this :4ortgage.
<br />2. funds for Tazas and Insurance. Subject to i..ander's option under paragraphs 4 anti * iae~arof, flor-
<br />rou~er sltatl pay [a Lender on the clay monthly installments of principal and interest are paralaic• tntdee the
<br />Note, until tl~e Note L haul in Tull, a stn . hereiai "F«ads") erual to one-twelfth of the yearly t.txe~ and
<br />~s;teea~,m?tita whack tna_!• attain prinrit^1• over this \]nrt~~~,~, anal nrottn±l tents an the Property, it ant- ulus
<br />one-tweitth nt yearly pretniuni iit_stajtments tat hazard insurance, plus one-twelfth of yearly premium in-
<br />atalhnents for mortgage insurance, if any, aH as reasonably atitimated initially sort from time to time bt'
<br />Lender on the basis of assessments and bills and reasonabte estimates Ihemaf, Lender shall apply the Fund`s
<br />*n ~•• {id ~>_.~= uas~~rtieeie~:, inaias!"~*ire lretniu-'tic s•,d >Yraurtrt r°pta, raider sltatl triake ne charge far vr~
<br />hnlr~ling ~nrt ap~ilc att.. F_ rl r r:taain~ nn.~i n t. :d ..~~r~ritt~ti iR- noel hall... The i~der xhali
<br />give Lo the B-orrower, without charge, an annual accouriting~of the Funds showing credits anti debits to the
<br />Funds an<i the purpose far which each debit to the Funds was made. The Funds are pledged as additional
<br />security tar the sums secured by this Mortgage:. The Borrower agr+a;es that the. Funds may tie held by the
<br />Lender and carxtmingled with other funds and the Lender's cam funds and the Lender Wray pay such rte-me
<br />feom its uwn funds and the Lender shell rtaL Ire liable far interest or dividends on such Funds.
<br />If the amount of the Funds hold by Lt~nder, together with the future monthly installments of Funds
<br />payable prior to rite due deice of taxes, assessments, insurance premiums and ground rents, shall exceed
<br />the amount required to pay said taxes, assetivwnents, insurance premiums and ground rents as they fall Sue,
<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 Lhe Funds held by Lender shall not be sutficient to pay
<br />taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />any arr~ount necessary to make up the deficiencv within thirky 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 de$cieney within the Fund accounting period.
<br />upon pmyment in full of ail sums secured by this Mortgage, Lender shall apply Funds held as a credit.
<br />against all sums due.
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