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t Nt7 it/ISSI3AL
<br />I7UI= O SAI.,E
<br />OP'I'IiOt~9AN.. I:'C9TtJF8E ADVAIVICES
<br />Sd1WIIVGS' F'U!~fD'
<br />FORM No. 720
<br />loan Plumber__4234Z___-__?$8____ 1__
<br />TYDe 9~ancn
<br />~~-~! ~~~~~ M G R T G A G E
<br />THIS MORTGAGE, made and executed this -._......._..~-5~..-....... day of ......-Octpber---- --___..--- A,D,
<br />19.-_.~9, between the Mortgagor...-.-a.e£Izey...L. _S.tezn...and-.Gyxtzh?.a. J,...Stern.,-_i-ruska?td-..and_.x~ifg,
<br />~ ointly-.and..~ach..in..thQ.i.x..ow~a z~~t - -- .-... - - .......-- - - - - _......--- .............._....- -........
<br />of __..Gzaad_)<sl.ansi__.._, County of -.._...kt.all..__-._..._.-....., State of ..... N~t~raska-_-, hereinafter referred
<br />to as the Barmwer, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WrrxesseTx: That the said Borrower for and in consideration of the sum of .-FORTY. T*cv0-.THOI;$p~TD
<br />AND..IZQ/.10.0._ccr.-----.-cc----r.---c-r..----r.-----r.--c----Dollars (US 5..4.x-..QQQ.C4._ ..._._........)
<br />paid by said Lendet, does hereby mortgage, grant and convey t.o Lender, its successor and assigns; the
<br />following described property located in the County of ._...__..H.al 1...._.._ ............., State of Nebraska:
<br />Lot Twenty (20}, Block Four (4), Olde Mill Subdivision, City of Grand
<br />Island, [-fall County, Nebraska
<br />ToceTxeR with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights s_.d profits, water, water rights, and
<br />water stock, and all fixtures now or hereafter attached to the property, all of which, including reptaee-
<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 (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, gram and convey the Property, that the Property is unencumbered, and that Borrower w-il1
<br />warrant and defend generalh• 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 bender's interest in the Property, ar 2} attorney's apinion of title from abstract of title certified
<br />by banded abstracter.
<br />P Rcrvtr)r.r1 ALtvavs, and these prCSeritS arL' exeCrtted and dfllvereCl npan the fallOtving COIldlttan3, agree-
<br />ments and ohliratktns of ±he Borrawer, to-Evil:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of .._ FORTY_ TtJ~. T`HOL?SAND_ _
<br />.....&Nl) 1v0.1194 ------------ ----°.°---- __~___.----Dollars (L S ;~. 42 , 000 QO -
<br />_.__...)
<br />payable as provided in a note executed and delivered, concurrently herewith, the final pavment of principal,
<br />if not soencr paid, on the -._1s a.. _...._..._. day of _.-_ Octntaer. . _...._ .._., I~dc.2009
<br />UNrxnR~t Covrxnr~rs. P,arrower and Lander covenant and agree as follows:
<br />1. Payment of Principal and Interest. Harrower shall promptly pay when due the principal of and in-
<br />terest on the 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 mortgage.
<br />2. Funds fo: Taxes and Insurance. Subject to Lcn<fer's option under paragraphs 4 and 5 hereof, Bor-
<br />rower shall pay tc Lender on the day monthl~• installments of principal and interest are payable under the
<br />i'Vote, until the Note is paid in full, n sum therein "Funds"? equal ti, one-twelfth of the yearly taxes and
<br />assossments which may attain priarity aver this ?lk,rtgagc:, and ground rents on the Property, if any plus
<br />one-twelfth of yearly premium installments for hararcl insurance, plus one-twelfth of yearly premium in-
<br />stallments far mm•tgage insurance, if and, all as reasonably e4timat-ed initially and from time to time by
<br />:Lender on the basis of assessments and bdls and reasonable estirnates thereat, Lender shrill apply the F uncle
<br />to pay said t~ s, assessments, insurance prelttiunrs an-1 ground tents. Lender shall alike na charge for so
<br />halding and aaplying the Funds or verifying and compiling said assessments and bills. The I~nder shelf
<br />give to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the
<br />Funds and the purpose for which each debit to the Funds teas made. The Funds are pledged as additional
<br />security for the sums secured by this Mortgage. The Borroter agrees that the Funds may ire held ttv the
<br />Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br />from its overt funds and the Lender shall rat be liable for interest or dividends on such Funds.
<br />If the amount of the Funds held by Leader, together with the future monthly installments of Funds
<br />. payable grior to the due dates of t~+xes; 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 Barmwer 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 then fall due, Harrower shelf pay to Lender
<br />any amount necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br />requesting payment thereof, or Borrower shall, by an increase fn monthly installments of Funds required,
<br />repay the deficiency within the Fund accountirg 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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