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1^
<br />INDIVIDUAL
<br />DUE ON SALE
<br />'~' OPTIONAL FUTURE ADVANCES
<br />SAVINGS FUND
<br />^ ~ipwA~ ~i FaRM Na. 720-479
<br />L>3ai1 Number- -`---------=8~ --- 1 . --
<br />~grl ~'7~~ 11/1 O R T GAG ~
<br />THIS MORTGAGE, made and executed this ......12th day of ....October A.D,,
<br />--
<br />19-..~~..., between the Mortgagor, Nichp7,as...K,_.I3erten..and..Nancy..L.,-_Merten,..hushand and_wif.e,
<br />.Io~ntlX..and-.ea~h..in-.their..own-.ri~h>i...-....-._-...__ _ _ - --- - - - - __ -- --- -
<br />of -..Grand-.Island.-.-...--.-, County of ..__..$a1.2._..._.._._.._.-, State of .N-ebraska..-_.. -, 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 />STVtrxasssrx: That `he said Borrower for and in considerattan of the sum of .THIRTY THOUSAND
<br />..------------------
<br />AND NO/100--------------------------__------_-----_----Dollars (US 5. 30x000._00-- - -- --.)
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />foHow~ng described prapertv located in the County of .-...._.-/Hall ,State of Nebraska:
<br />Lot Eight (8) in Former View Subdivision, Ha11 County, Nebraska
<br />Tocsrxea with all the improvements now ar hereafter erected on Cite property, and all easements,
<br />rights, appurtenances, rents, royalties, nuneral, oil and gas rights and profits, water, water rights, gad
<br />mater stock, 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 covered b} 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 Bormw-er is law-fitilp seised of the estate hereby conveyed and has the right.
<br />to mortgage, grant and convey the Property, that the Property i~ 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 scheuule of exceptions to coverage in any title irsurance policy in-
<br />suring Lenders late-eat in the Propem-, or (2) attorney's opinion of title from abstract of title certified
<br />fay bonded abstracter.
<br />Psovrnso Ar.wA~s, and these presents are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the $ortrower, to-w-it:
<br />The Borrower agues to pay to the Lender, or order, the principal s,rm of .zHik'I`Y Tlit)USA13D AND
<br />_-N_0 I00-----------_------_-- ------Dollars (C'S 3-- 34-,OOQ.Qp__-_ .---___)
<br />payable as provided in a note executed and deliver~rl, canrurrently herewith. the final payment o{ principal,
<br />if not loaner paid, on the . ..first...- dac of ..--=~ot2mber. --- gg 2QJ~i
<br />li~teoau Cove~r~w-rs. Borrower and Lender covenant and agree as fellows:
<br />i. Payment of Principal gad interest Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness eti-idenced by the Note, prepa_,'ment and late charges as protided in the Note,
<br />and the principal of and interest on any Future Advances secured by this \lortgage.
<br />2 rtsssds for 'gases and IrLSUrar;ce. Subject io Lender's option tinder paragraphs 4 and 5 hereof, Bor-
<br />rower sl-.all pa3• to Lender on fire da}• manthly insfalLment_~ of principal and interest are payable under the
<br />Nafe, untx3 the Note is paid in full, a sum (herein "Funds") equal to ere-twelfth of the ~ esrh• taxes and
<br />assessments which may attain priarity ac-er ibis _`,ior~aQe, and ;round rents on the Propert}•, if any plus
<br />one-twelfth of yearly pr~ittm instalhnenfs for hazatdain.urance, plus one-twelfth of }ear17 premium in-
<br />stallments far mortgage insurance, if env, all as reasanabl}• ~-timated initiall} and from time to lime by
<br />Lender on the basis o€ assessments and bills and reasonable estimates thereof, Lender shall apph the Funds
<br />tr, pay sand tales, assessments, insurance premiums and ground rents. Lender shall make no charge for sa
<br />holding and anplving the Funds or veti#cing and compiling said assessments and bills. The fender shall
<br />give to the Borrower, without charge, an annual accounting of the Funds shaw~ng credits and debits to the
<br />F+,~ and tbe purpas€ for which reh debit tr, the Funds was made. The Funds are pledged as additional
<br />security #or the sums secured by this It!artgage. The Borrower agrees that the Fun~ts may be held by the
<br />Lender and commingled with other funds and the Lender's awn funds and the Lender may pay such items
<br />from its own funds and the Lender shall nat be liable for interest or dividends on such Funds.
<br />If #be amount of the Funds Imld by Lender, together with the future manthly installments of Funds
<br />payable prior to fie due dates of tones, assessments, insurance premiums and ground rents, shall exceed
<br />flee amount requiznd to pay said rases, R~++-mats, insurance premiums and ground rnnts as they fall due.
<br />such eacees shall be, at Borrowers option, either promptly repaid to Borrower or credited to Borrower on
<br />manthly installments of F~.3ttds. I# the amount of the Funds held by Lender shall not he sufficient to pa}•
<br />fazes, asses~Cnents, insurance premims and ground rents as they fall due, Borrower shall pay to Lender
<br />any amount necessary to make up the deficiency within thirt}- days after notice from Lender to Borrower
<br />requesting payment thereo#, ar Borrower shall, by an increase in rnenthly installments of Funds required,
<br />repay fhe deficiency within the Fund accounting period,
<br />Upon payment in full ct all sums secured by this Mortgage, Lender shall apply F1mds held as a credit
<br />against ail sums due,
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