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IND€vll~t3,a~.
<br />pPTtCAhJ;Ai. ~'tJTA.t'IR2E AOVIakMCES
<br />SAVIFIt"a',S ELJh1Lw
<br />ForaM No. 720-479
<br />Loan lUumber__k3553___-_188_____1_
<br />Try e.a~«
<br />79-.4 ~~~~~,~~ MORTGAGE
<br />THIS MORTGAGE, made and executed this ...._..2....-.-_...._..... da of ._. p•- ._.__-......_ A.D.,
<br />19-_79..., between the Alortgagar, .Michael.,J-._;fuessel~and_.Jane,M.~Muessel~~hus~iand and wife.,
<br />.--J9.3ntly . and_. each-. in_ their--own. -right,-----------------------. _....... _... _..
<br />of ....._... Grand--Island---, County of ._.-_. Hall,_--___-_-.-.._---., State of _Nebraska. , . ,hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION Of'
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska fiF3501, its successors and assigns, he-einafter referred to
<br />` as Lender.
<br />Wt•rxessETH: That the said Borrower for and in consideration of the sum of .~HIRTX..~IGHT...THQU~AND
<br />FIVE_HUNLRED_ AND NO/100 --------------------°------ Dollars (US ~...3s3. 5CQ 00 )
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />#ollow~ng described property located in the County of .............Hall...._.-..........-_., State of Nebraska:
<br />Lot Seventeen (l7) in Meadow Lane Subdivision Hall County, Nebraska
<br />TOGETHER with all the improvements row or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stack, 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 crovered 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 conveyed and has the right
<br />to mortgage, grant and convey the Property, that the Property is unenemnbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all claims and demands, subject to any
<br />easements and rastrictians listed in a schedule of exceptions to 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 />Psovcur:n At.ways, and these presents are executed and delivered upon the fallowing conditions, ag~e-
<br />ments and obligations of the $arrawer, to-w•it:
<br />The Borrower ague- to pay to the Lender, or order, the principal sum af ..:I.liTk3,T-1---~i~tZi..Ttl~til;if~.t~
<br />S?IVE:.titi13i3itc;U ANl? c;i%i 0 --------------------------- -.
<br />_ .................................._...-..-......._.... _ _...-.-.. - - -._..~ollars (US S-_~$.,Sf}d.t7ij..... }
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not. sooner paid, ern the . .1st._...... __ day of ..._.... 9.Ctober_._._,.-_ _ .__...,~9.200~
<br />Urvtu•osnt COVENANTS. Borrower and Lender covenant anti agree as follows:
<br />1. Payment o[ P_~incipal and Interest. Borrower shall promptly pay when due the principal of and in-
<br />terest on t.ht: indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br />and the principal of and interest. on any Future Advances secured by this Alortgage.
<br />2. Funds for Taxes and Insuzazs~e. Subject. to Lender's option under paragraphs ~ and 5 hazcY~f. Bur-
<br />rower shall pay ic, Lender on the day monthly installments of principal and interest are payable under the
<br />Note, until the Nate is ~~aid in full, a sum (herein "Funds") equal to one-hvelfth of the yearly taxes and
<br />acssec;ments which may aitain priority over this I<Iortnage, and ground rents on the Property, if any talus
<br />one-twel#th of yearly premium installments for hazard insurance, pltts one-twel#th of yearly premium in-
<br />stallments for mortgage insurance, if any, a!! as reasonably estimated initially and from time to time by
<br />Lender ort the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to pay ;:aid taxes, assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br />holding and applying the Funds or verifying and compiling said assessments and bills. The Lender shnlT
<br />give to the Harrower, without charge, an annual accounting of the Funds showing credit.3 and debits to the
<br />Funds and the purgase #or which each debit to the Funds was made. The Funds are pledged as additional
<br />security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br />Lender and commingled with other funds and the Lender's own funds and the Lender may psy such items
<br />from its own funds and the Lender shall not be liable far 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 uses, assessments, insurance premiums and ground rents, shall exceed
<br />rho amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due,
<br />such excess shall be, at Barrower'g option, either ptnmptly repaid to Borrower or credited to Borrower on
<br />monthly installments of Funds. If the amount of the FTmds held by Lender shall not be sufficient to pay
<br />e`axes, assessments, insurance premiums and ground rents as they fail due, Borrower shall pay to Lender
<br />arty amount necessary to make up the denciency within Thirty 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 deficiency within the Fund accounting period.
<br />Upon payment in full of all sums secured by this Mortgage,,Lender shall apply Funds held as a credit
<br />against all sums due.
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