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,p, Ii+1DlVtDtlAL -1 L1LSE OiV SALE '4~''' ..--% t`~ ' QPTIC3NpeL FLlTUl2E r4DVANCES CORM NO. 7207-479 loan Number__~+1995___ ___I$$_- 1 Tyae S.a~<n 79- •~t~~v~~,t~ 1ViORTGAGE THIS 14iORTGAGE, made and executed this .._..__.`/...__......_. day of ...-..r~,y.Gc~c,..~~~z....._...- A.D., 19.?~...., between the Mortgagor, ........ Robert,_J,.._WtteEle.r..and-Nancy_L._t3hee1er1_husband_and__,. ,_-.--,yl.~;ke,..joint_~y._and each. in_thezr_own right_ of .... Grand._Island_._.____, County of ...._.xall.._-..__...._..-.-, State of ..._Nebraska___., hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to as Lender. WrTxtsssrx: That the said Borrower for and in consideration of the sum of ._EIGH,TX..T1LOlISANIl._ _...A1VA..NO.L19~..-.--r.-.-----.----------------------.----.----Dollars (US $.-.80x000-.00.-.-.. - - -- ) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of ._...-..Hall...,....__....__.,__., State of Nebraska: Lot Three (3) Block Seventy-five (75} Origir_al Town, now city o£ Grand Island Hall County, Nebraska Tocs'rxEe with all the improvements now or hereafter erecie:' on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replace- ments and additions thereto, shall be deemed to be and remain a part of the property crovered by this Mortgage; and alt of the foregoing, together with said property (or the Ieasehold estate in the event this Mortgage is on a leasehold) are herein referred to as the "Property". Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and demands, subject to any easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in- auri,-tg Lender's interest in tt[e Property, or (~) attorney's opinion of Title from abstract of tii,e certified by bonded abstracter. Pxovtor:o ALw,~YS, and these presents arc executed and delivered upon the following conditions, agree- _ sue. ment3 antl ol.>s:°°°°*ion° cf t_he Borrower, to-wait. '.1'hc Barrttwer agrees to pay to the Lender, oz order. the principal st7s_z of _--..IIG11'.-.~H~11~A_-AND. . ~._-_ ___---_____ -,---Dollars (i7S ,. $ 000 00 1 payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal, if not sooner paid. on the -..-. -1st;__- ._.. day of ._.... _~anuary. ,.,. -.__ ._„fig wa05 Uxtecrent Covexnx~rs. Borrower and Lender covenant. and agree as follows: 1. Payment of Principal cod Interest. $orrower shall promptly pay when clue the princitxtl of and in- terest. an the indebtedness eti~denced by the (Vote, prepayment and late charges as provided in the Nate, and the principal of and interest on any Future Advances secured by this :Mortgage. 2. Funds for Tuxes and Insurance, Subject. to Lender's option under paragraphs 4 and 5 her~~trf, Bor- rower shall pay to Lender on t-he clay monthly installments of principal and interest are payable under tht Note, until the Note i5 paid ir, full, a sum (hcrrcin "Funds") equal t.o eme-twelfth of the yearly taxes and assessments which may attain priority over this it7ort.gage, anct xraunci rents on the Property, if any p-us one-twelfth of yearly premium installments for hazard inscrance, plus une-twelfth of yearly premium in- stallments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of aasesa[nents and bills and reasonable estirnates thereof, Lender shall apply the Funds to pay said tahcs, assessments. insurance preniums and ground rents. Lender ,hall make no charge for so holding and applying the Fundy or verifying and compiling said asses:sment,; and bills. ThN Lender shall hive to the Borrower, without charge, an annual accounting of the Funds showing creditnc and debits to the Funds.and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage. The Borrower agrees that the Funds may he held by the Lender and commingled with other funds and thk Lender`s own funds and the Lender may pay such items from its own funds and the Lender shalt not be liable for interest or dividends an such Funds. ?<f the amount of the Funds hold by Lender, together with the future monthly installments of Funds payable prior to the due dates of races, assessments, insurance premiums and ground rents, shad exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Fundy. If the amount of the Funds held by Lender shall not be sufficient to pay taxa<s, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the derciency within thirty days after notice from Lender to Borrower requesting payment thereof, ar °orrower shall., by an increase in monthly installnxantc of Funds required, repay the deficiency within the Fund accounting period. Upon payment in full of ail sums secured by this Mortgage, Lender shall annly Funds held as a credit against: ail sums duc.