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} IN~tCJIVgDiJ'AL
<br />DUT ~}ttif arA[_c,
<br />'~'~ PJPTIpMAt. t`~LJTt~1'RE AC'}VAI~NCE,'S
<br />SANIhfGr,,^' F"t~NC7
<br />~~ Fgw>f Nq. 720-479
<br />Lean Number.-- 4_3___-__1 b_____1---
<br />TYOe Bn•~<h
<br />r~esr
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<br />THIS 1~IORTGAGE, made and executed this ._.__ ~.7...._.......... day of .. ..~..~.~_~~.-.....__..._ A.D.,
<br />19.7...-, between the Mortgagor, .Dean- J... Ferb.-and. Nancy.-S,,-Eerb,,,, husba-fid--and. wife.,...jointly
<br />. apd .each_in.,their owu_ right,-..-..
<br />of .._-.-Grand-.Island......, County of ...._-.Ka~.l_----------------.-, State of ._- Neuraska--_ -, hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WtTx>sserx: That the said Borrower for and in consideration of the sum of ..sI~..THOUSAND
<br />EIGHT-HUN-RED..AND NO/100----------------------.-------Dollar (US $..50,800.00 .._-......._..-)
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />following described property located in the County of .._...-.Hall ,State of 1ebraska:
<br />Lot Thirteen (13) i~estern Heights Second Subdivision Hall County, Nebraska
<br />T+:x;sTHr:a with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights a_ d profits, water, water rights, ^~td
<br />water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br />rnents and additions thereto, shall be deemed to be and remain a part of the property covered by this
<br />Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br />Mortgage is on a leasehold) are herein referred to as the "Property".
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby c~.iveyed and has the right
<br />to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against sll claims and demands, subject to any
<br />easements and restr.'ctions listed in a schedule of exceptions to coverage in any title insursnce po$€y in-
<br />suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />PROVtDt:a ALW_1YS, and Lhese presents are executed and delivered upon the fottocving conditions, agr€e-
<br />ments and obligations of the Borrower, ter-wit:
<br />The Borrower affrees to pay to the Lender, or order, the principal sum of -.F.Zk"1'Y...~£1V.USr1+'JIi..ElSifd'T..
<br />------ - ----
<br />~lUIv3113ED..~b1L-N0 .100---a-----cr.-----------.----°------.-Dol}ars (US $..~9->.~QQ...QII....-._........... )
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, en the .- __First___-- -day of .. October.., ., _ ,.. ,._ ,___._,.l'~C..20Q9
<br />Uxtrvta:ta CovxxaxTS. Borrower and Lender covenant and agree as follows:
<br />1. Fayment of Principal and Interest. Borrower shall promptly pay when clue the principal of and in-
<br />terest on the indebtedness evidenced by the Nate, prepayment and late charges as provided in the 1`.'ote,
<br />' and the principal of and interest on any Future Advances secured by this ;Mortgage.
<br />` 2, Ponds for Taxes and lnsur~tce. Sub,jcct to Lender':: aption under paragraphs •t and 5 hE:rcof. €lar-
<br />~ rower shall l,a}• to bender on the day monthly installmr-nts of principal and interest are payshle under the
<br />.i Note, utttil the Nate is paid in full, a sum therein "Fund;') equal to one-lwelft.h of the: yearly taxes and
<br />- assessments which may attain priority aver this ~fiortgage. and ground rents on t}te Ptt>perty, if any plus
<br />one-twelfth of yearly premium instalituents for hazard insurance, plus one-twelfth of yearly premium in-
<br />_ stallments for mortgage insurance, it env, all as reasonably estimated initially and from time to time by
<br />'} Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay said taxes, assessments, insurance premiums and ground rents. bender shall make no charge for so
<br />ho}cling and apps}-ing the Funds or verifying and €ompiling said assessments and bills. The Lender shall
<br />give to the Borrower, without charg€, an annual ac~aunfing of th€ Funds shaving cr~lit:s anti debits to the
<br />Fwtds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for the sums secured by this 14tartgage.. The Borrower agrees that the Funds may be held by the
<br />Lender and camrningled with other funds and the Lender's own funds and the Lender may pay such items
<br />from its own funds and the Lender shall not be liable for interest or dividends on 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 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 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 the Funds held by Lender shall not be sufficient to pay
<br />taxes, assessments, msurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />= any amount necessary to melee up the de&cien within thiriy days after notice from Lender to Borrower
<br />requesting payment thereaf, or Borrower shah, by an increase in monthly installments of Funds required,
<br />repay the de+ficieney within the Fund accounting period.
<br />Upon payment in toil of all sums secured by this Mortgage, Lender shall apply Funds held as a credit
<br />against. all sums due.
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