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<br />{3I~T143UI'Ai_ i=U''Ti.i'R~ AIICli{AM'C:E~
<br />SAVihI6:aS F"uh9S?
<br />FORM NO. 720-479
<br />Loan 'cumber- 42RfiR _-- J-88----iL___
<br />TYOe Rran<n
<br />VIQ RTGAGE
<br />THIS MGRTGAGE, made and executed this .._.__-_~` ................. day of .-~ g~>.`«.~~f.-..._.-.._ A.D.,
<br />i9..~~_.-, between the Mortgagor, .Lazry_G..._Cars.tenson_.aud-.Barpara...l. _Cazstensnn_,.._.-__...-.._..._..
<br />..-....----.husband.-and..wif-e,..jointly-and-..each-. in...their...ntan..right------.---r. ---rrrcc-rr-----
<br />of .__.......Aurora_._-.-......, Count}~ of __....._......_ _...._.._..._., State of -2lehraska.-..__., hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVIP S AND LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 6850], its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WtrNesse2x: That the said Borrower for and in consideration of the sum of ....SIXTY-.~jG)1~'---'~OABAND
<br />..... -.....EIGHT--HL?NDRED..AND..NO/100.-°--.----.-.------.-----.-Dollars (US a.58,.$.00,04.....-.._..-...-...)
<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 Seven (7), and Lot Eight (8), in Block One (1), in Lambert's Second addition
<br />to the City of Grand Island, Ha11 County, Nebraska, as surveyed, platted and recorded
<br />excepting therefrom the Southerly One Hundred Feet (S 100') from said Lots
<br />Seven (7) and Eight (8).
<br />TocErxr;a R~ith all the improvements now or hereafter erected on the property, and alt 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, all of which, including relilace-
<br />ments and additions thereto, shall be deemed to be and remain a part of the property covered by this
<br />Mortgage; and all of the foregoing, together c+~th said property (or the leasehold estate in the event this
<br />_blortgage 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 wrill
<br />warrant and defend generallr• the title to the Property against all claims and demands, subject to any
<br />easements and restrictions listed in a schedule of exceptions t.o coverage in any title insurance policy in-
<br />suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of Title certified
<br />by banded abstracter,
<br />PxovrUeo ALWAYS, and these presents arc executed and delivered upon the following canditians, agree-
<br />ments and obligations of rho Borrower, t-^_--wit:
<br />~,ir _ ug~ t;~ pav to tart ierauer, .°,r r.•rurr, the p~t'sctl5ai Stir of .
<br />,.,,,. ,.,..~- a4~~ S1'7fTy.FriGHT 'THOl1SAh3}
<br />.EIGHT HIIKIIHEI3 Nt?JI00------_~__~~_.~.~_ `t3odars tt~:? ~+-a$„$t~O~tlCl_--_--------------- )
<br />payable as providcYl in a note executed and delic~red, concurrenth~ herewith, the final payment. of principal,
<br />if nat. sooner paid, nn the ... --1•it'st< ..._ . dxv of _September-, --- ..- ., ~ ZQ.Q4
<br />Uxtr:oxrc Co+t:,xAtr•~•. Borrower and Lender covenant and agree as follows
<br />1. Payment of Principal and Interest. Borrower shall pnuuptly pay when due the principal of and in-
<br />terest on thc:indebtedness evidenced b•- the Note, prepayment and late charges as provided in the \ote,
<br />and t-he Irincipal of amI interest an ands Futum Advances sectrred by this i4iortgage.
<br />2. Funds far Taxes and IrLSUranCB. Suhiect to Lender's option under para;.;raphs -4 and S hereof. Be,r-
<br />ron•er shall pay to Lender on the day monthly installments of principal and interest are payable under thu
<br />Note, until the Note is paid in full, a sum (herein "Funds") squat to onc-twelfth of the yearly taxes and
<br />assessments which may attain lrrtarty ovf=r this !+tartt;age, and ground tents on the Property. if any plus
<br />one-twelfth of nearly premiuut installments for hazard insurance, phrs one-ttvctfth of yearly premium in-
<br />>talhnents for mortgage insurartc~, if anv, all as reasanahly estitt.ated initially and from tiros to time by
<br />Lender ott the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />ter pay said taxes, assessments, insurance premiums and ground rents. I,cmder shrill make na charge fur ~a
<br />1,olcliug `end alzplying ti.e Funds ar vtrifymg and t~tntpihng +aid a.5srssrnr`nts and Tills. `I"rte I~ntder shah
<br />give trt the Borrower, without charge, an annual aeenunting a[ the Fonda showing credits and tleht`t:5 trt the
<br />Funds and the purpose far which each debit to the Funds was made. The Funifs are pledged acs additional
<br />security far the sums secured by this 1~fart-gage. The I3arrower agr~e~s that the Funds may be held by the
<br />Leader and commingled with other funds and the Lender's own funds and the. Lender may pay such items
<br />from its awn fiunds and the Lender shall not he liable for interest or dividends an such Funds.
<br />If the amount of the Funds held by Lender, together rrrith 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 fail due,
<br />:tuck excess shall be, at Borrower's option, either promptly repaid to T3orrower or creditrd 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, Borrower shall pay to Lender
<br />any amount necessary t4 mako up the deficiency within thirty days after noting from Lender to Borrawer
<br />requesting payment thereof, or Barre, xer snail, by an increase in monthly instalhnents of Funds required,
<br />repay the deficiency within the Fund accounting period.
<br />lipon payment in foil of all sums secured by this Mortgage, Lender shah apply Funds held as a credit
<br />against all sums due.
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