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!N[sf'4ttI7UAiL C1tJIE ON SN'4LE GPTI4NArL F't.;Ti3RE AGVAu.14fCES SAYINGS 1="tJND Faera No. 720-479 Loan Number__ 42894 __-_ 188 _-_ 1 Type @ranc~ [VSO R`TGAGE THIS MORTGAGE, made and executed this __._-~~`..._..-___.. day of ._....~~.xS.f.._.__._..... A.D., 19.?1__., betwern the Mortgagor, .._ Harry.-E-... Clegg_3nd..Leann.. Clegg, ._husban._, and-.wife~___._.___..-. jointly._and each ,in their own right, of ___Grand Island ,County of _-_-....Hall.__________________ State of .-.idebraska-..._., hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOL1vT, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. WtTxESSE2x: That the said Borrower for and in consideration of the sum of ....FIFTY_TElOUSANp_... ----k`IVE HUNDRED AP1D. NOI100---------------------------dollars (US vv---50,500.00---.--_.......-.) -... _ paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of ._.... fiall . -_. - . _.__._ --.--~ State of Nebraska: Lot One (1) Block Cne (i) Fireside Estates, located in the Northwest Quarter of the Northeast Quarter (NW~NE~) of Section 35, Township 11 North, Range 10 West of the bth P.M., Hall County, Nebraska TOGETHEF with all the improvements nocv or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and all fixtures now or_hereafter attached to the property, all of which, including replace- ments and additions thereto, shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and demands, subject to any easements and restrictions listed in a schedule of exceptions iv c~vrrage :.- any t=`l: is ,,..-.,-._° TM~Lcv +n_ sating Lender's interest in the Propert}~, or (2) attorney's opinion of titlejfmm abstract of title certified by banded abstracter. Pxuvtt,ea ALwAVS, and these presents are executed and delivered upon the followring conditions, agree- rrient~: and a;ligation€ of the Borrower, to-wit: The ?3orrrwc•r agt t~ pay to the Ipnder, or order, the prins:.ip al _~n~ of . FI_FTY .'1•HQ~?SAS _ FZV~_-- __..INDRF.D.A:ti>)_1v0(1Q0- -..-.- - --------.- ...--------dollars (l.?5 $ . 50,.500.130, . _.. ) payable ~~, provided in a Hate executed and delivered, concurrently herewith, the final payment of principal, if oat sooner paid, on the - - - -First ....day of -SeP.Cemb2r . - - , X14 240,9 UxtF<isa: Covtxxx~rs. Borrower and Lender covenant and ogres: as fotlo~vs: 1. Payment of Principal and Interest. $orrower shall prcm;ptly pay when due the principal of and in- eresf on the indebtedness evidenced by the Nate, prepayment and late charges as provided in the Nate, and the principal of and interest on any Future Advances secured by this \torigage. 2. Funds for Taxes and Insurance, Subject. to bender's option under paragraphs 4 and 5 hereof, Bor- ma•er shall pay to Lender an the day monthly installments of principal and interest are payable under the NotE, until the Note is paid in full, a sum (herein "Funds") equal to ane-twelfth of the yearly taxes and assea4menis which may attain priority over this Mortgage, and ground rents on the Property, if any plus one-twelfth of yearly premium installments for hazard insurance, plus ane-twelfth of yearly premium in- stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable es*,imates thereof, Lender shall apply the Funds to pay said taxes, assQ-.~n?ents, insurance premiums and ground rent;. I.er.der shall make na charge #ar €o holding and applying the Funds or verifying and comlriling saki assessments and bill,, The Lander shall give to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security far the sums secured by this Mortgage. The Burrower agrees that the Funds may be held by the Lender and commingled with other funds and the Lender's own funds and the Lender may Pay such items from its own funds and the Lender shall not be liable for interest or dividends an such Funds. If the amount of -the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly sepaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of rho Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, repay the deficiency within the Fund accounting period. Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held as a credit against all sums due.