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1N©IVIDUAt_
<br />I]UE QN SALE
<br />CPF"TI©NAI- FUTUt2E A[SFVANCES
<br />SAVIN^uS FUNB
<br />Pnar~ No. ?20-479
<br />~~~-~ Loan Number___435fi5__~_1$8__-_1___
<br />TY4x drancn
<br />~~' ~~~~~~ M O R T G A G E
<br />THIS MORTGAGE, made and executed this .._-_.. ~.`L ............. day of . .._^..•~~-^'~ A.D.,
<br />19.~~_.., between the Mortgagor, ._ Michael M. Aringdale and Susan Arin~ale, husband and
<br />wile jointly, and,.each. in theis_ awn_.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 />LINCOLIN, 123 °N" Street, Lincoln, :Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />Wrrvssse•ra: That the said Borrower for and in consideration of the sum of ...THIRTY., SEVEN.-._----.
<br />THOUSANA_.AND.y70 100 ------------------------------
<br />_l.. .........._. _...._......._._ ................._.-...............Dollars (US 5.__7.,.000_,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 Nebraska:
<br />Lot Ten (10), Blcck Five (5), in H. G. Clark's Addition
<br />to t)se City of Grand Island, Hall. County, Nebraska.
<br />Toce•rxes with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtanancrt~s, 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 crhich, 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 all of the foregoing, together with said property for the leasehold estate in the event. this
<br />Mortgage is on a leasehold) are herein referred to as the "Propert.y".
<br />Barmwer covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to mortgage, grant and rnnvey the Property, that the Property is unencumbered, 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 restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br />suring Ixnder's interest in the Property, ar {2) attorney's opinion of title from abstract of title certified
<br />by bonded ahstract~er•.
<br />Paov[u€o A,.tv~,~=:~, and th~ac~ pr€~entr. arrt? exacut€d and delivered open thu followinl; _~anditians, agre~-
<br />mentY and ahligatirrrrs of the Barriwer, to-wit:
<br />[Ile lorrower agrert~s to pay to the Lender, or order, the principal sum of -. `t`~~1~~`Y_~~~~+~.-~~tJl+~~'
<br />APIA..19D1.14D- _ ,..-- -----------------°---------.- .Dollsrs (1 ;, ~_.37,.RQ0,9Q ___. )
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not. sooner paid, an the ...f.~'st _....._ . day of _.. ...9.CG9ber Qfl2JCxl
<br />Ui`[roedf Covr¢tv.nH•r•s. Borrower and Lender covenant. and agree as follows:
<br />I. Payment of Principal and Interest. Burrower shat! l,rontlrtly pay when due the princifrztl of and in-
<br />terest cm the indebtedness evidenced by the Nate, prepayment and late charges as provided in the Nnfe,
<br />and the Irincipal of and interest on any Ft[ture Advances secured by thi : hlortguge.
<br />2. Funds for Tax©s and Insurance. Subject to Lender', option wider parat*ntphs 4 and 5 hereof. Bar-
<br />rower shall Tray to Lender on the day monthh• installments of principal and interest are paya2?le under the
<br />flat-e, until the Nate is paid in felt, a sum therein "Funds") equal to one-hvetith of the yearly tarxes and
<br />assessments which rrtay attarut priority over this ?~Itirtgage, and ground rents on the hral,erty, if azty plus
<br />one-twelfth of yearly premium installments far hazard insurance, plus one-twelfth of yearly premium in-
<br />stallments far mortgage insurance, if any, all as rear,>nsrhly estimated initially and front time. to time try
<br />Lender on the basis of assessments and bills and reasonable estimates thereof, Lender shall apph~ the Funds
<br />to pay said taxes, assessments, insurance premiums an<l ground rents. Fender shall make na charge for sa
<br />heltting, and applying the Funds or verifying and campilirg ::aid asst:-mmontu and bills. Ttte- ixrrder x}:a1I
<br />give to the Borrower, without charge, an annual amounting of the Funds showing credits and debits to the
<br />Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security fur the sums secured by this A4artgage- The Borrower agrees that the Funds may be held ly the
<br />Lender and commingled with other funds and the Lender's own funds and the Lerrcfer may pay such items
<br />from its own funds and the Ixnder shalt 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 premiumv and ground rents, shall exceed
<br />the amount requited to pay said tares, 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 t-he Funds held by Lender shall not he sufficient to pay
<br />taxes, assessments, insurance premiums and ground rents as they fall due, Barmwer shall pay to Lender
<br />any amot:nt necess.sry to make up the de&ciency within thirty days after notice from Lender to Borrower
<br />requesting payment thereof, or Borrower sl±all, by an increase in monthly irstttllments of Funds required,
<br />repay the de&ciency within the Fund accounting periaci.
<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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