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IINDIVIDUAIL
<br />> ~ DUE ON SALE
<br />~7®CTl~D~• OPTIONAL FUTURE ADVANCES
<br />~'ii~.7~CpA~ J SAVINGS FUND
<br />f CYJ~L FORM No. 720-479
<br />`.i~~N Loan Number__42875___-__188_ _ _i__
<br />79-' Oi~56'7'7 M O F2 T G A G E
<br />HIS 'MORTGAGE, made and executed this ....-----. ~v._..__- .._ day of - --.!~P..~j9.5. f.____.-_..-. A.D.,
<br />19.. -. _., between the Mortgagor.....Donald_L....S.chacktk3..and- Vctora._Schachta.,-- husbapd_,,._, ___-
<br />anrl..wife.,.- jointly-..attd...e.ach azt..thexs pwp right. --- -- _-- -...-....._..
<br />of ..... Grand--7;sj.and......., County of . .. Hal.).. - ....-. - - ,State of -.-.Nebraska - ,hereinafter referred
<br />to as t},e Borrower, and the Dlortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, }235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WtrxssseTH: That the said Borrower for and in consideration of the sum of ....SEVENTEEN..THOEISAND
<br />_._ .AND. NO/.100 --.-----------------------------c.-------Dollars (US $.__17.,000,OQ _ --- - )
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successor and assigns; the
<br />following described property located in the County of . _..-_ ..Hall.-_ _.- .-......-_-., State of Nebraska:
<br />Lot Two (2), Block Thirteen (13), in Bonnie Brae Addition to the
<br />City of Grand Island, Hall County, Nebraska.
<br />Tcx:Frxea with all the improvements now or hereafter erected on the property, anrE all easements,
<br />rights. appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stool:, 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 ail 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 "Finnerty".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby com•eyed and has the right
<br />to mortgage, grant and convey the Property, that the Property is unencumbered, and that Harrower will
<br />warrant. and defend generalh• the title to the Property against all claims and demands, subject to any
<br />easements anti restrictions listed in a schedule of exceptions to covcragr in any title insurance ttolicy in-
<br />suring Lender"s interest in the Property, or !~') attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />I'aovtoeu A:.wny, and these prr•ac~nts an' executed and delis°ereci upon the fallowing cunditiclns. agrec-
<br />I menh and obligations of the Borrowee, to-wit:
<br />`t'he Burrower agrees ter pay to the Lender, or order, thF• principal sum of S1MVlr;ITEE,N ThQI-t~? .
<br />..AND NO/100 --.r--rr-.----------------°------------"E]ullrus (t`S 5 17,000.00 _ }
<br />payable as provided in a note.}yixr~~~ted and delivered.~ec~tt~i~~~th herewith, the final payment of principal,
<br />if not sooner paid, un the da> of ,7~X-C 20Q4
<br />lixtFrtant C'rtarN,~xrs. Borrows^r and Lender covenant and agree as follows:
<br />1. Payment o! Principal and Intorest. tinrnrwer shall I,rumpth' pay' when due the principal of and in-
<br />h•rrwt on tho inrlehtedness evirlenct•d by thr~ Arrte, prepayment and late chargts as prorvided m the Nute,
<br />and the lrrincip;d of and interest un any Future :ldvnnr e; sr~curerl by this Aturtgzage.
<br />2. Fonda for Taxes and Insurance. tiubject hr Condor'. option under ttAragraphs -t and :~ hereof. Bsr
<br />rower shall pay ur Lender un the day munrhlc installn~rnL. nt principal and inb•resl Are pttyahle under tho
<br />Note, until tho tiute is pnid in tLA, et sum nc~rein "Funds"t ryturl to unv-tw,•Ifth of the >rarh^ taxes and
<br />assessments which may attain 3?riurity uyrx thi4lturt~at+^, and gnnuul rents ern the f'eup,•rfy, it any' plus
<br />one-twolftk ut yearly ptcmium inr,taHrncnt~s for hartu'zt insurani-s•, plus are-itcelfth ut )'s-arlF premium in-
<br />stAllnu~nts for nrortgaga insurance, if am•, ull as rea,r,nahlc estimate+l initially and from time tc time by
<br />i.e=nder un the basis of ~is>esmenta and hitl_- ;rod reasonabtr estintateu the~rc~~f. IMndrrr shalt atgth the Funris
<br />to pay said taxer assessnA.nts, insurance premfmnx and ground rent. lh•mter shall make no charge for sa
<br />holding and apphmg the Funds or verifying and c.xupihug sa}d ariseksments and hilts. The Iamdrrr ,hall
<br />give to the Barruwcr, without charge, an aruutat accounting of the Funds xhowink rkredits and d€s}rite to t-he
<br />Funds And the purpose far which each ch~hit to the Panda war: atade. The Pencil: are pledged as additional
<br />security for the sums secured by this \aurtgage. The E3orrcrwrr agrt that ihc~ Fundw may la' bald by the
<br />Lender and commingled with other funds and the Lender`s own funds and the l.enrler may pay such items
<br />from its own funds ant) the Lender shall not be liable for interest nr dividends nn such Funds.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />payable prior to the due riates 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 :toe,
<br />such excess shall be, at Borrower's option, either promptly repaid to Borrower or credite'•d to Brirmwer un
<br />monthly installments of Funds. If the amaunt of the Funds held by Lender shalt nut be sutlicient t.> pay
<br />taxes, assessments, insurance premiums and ground renis as they fall due. Boroewer shall pay to Lender
<br />any amount necessary to make up the deficiency wfthin thirty days after notice from Lender to Borrower
<br />requesting payment. thereof, r,r Borrower shall, by an increa:?E+ in monthly installments of Funds nvluired,
<br />repay the deficiency within the Fund accounting period.
<br />),'pun payment in full of all sums secured by this Mortgage, Lender shalt apply Funds held as a credit
<br />Against All Flims due.
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