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<br />31-04-0357 This form is used in connec-
<br />lion with mortgages insured
<br />IdIORTGAGE under the one- to four-€amily
<br />p t1,~„~ ~'!~ provisions of the National
<br />il! Housing Act.
<br />(WITH DEFERRED INTEREST AND INCREASING MONTHLY INSTALLMENTS)
<br />THIS MORTGAGE, made and executed this 1st day of February ,A.D.
<br />14 80 ,by and between William O. Cowan and Beverly C. Cowan, Hushand and Wife and David
<br />A. Ahline at3d Marilyn H. Ehline, Husband and Wife
<br />of the County of Hall .and State of Nebraska, party of the first part, hereinafter called
<br />the Mortgagor, and ?tortgace Plus Incorporated `
<br />a corporation organized and existing under the Taws of the United States of America ,
<br />party of the second part, hereinafter called the Mortgagee,
<br />SitIT, IESSFTH: That the said Mortgagor. far and in znsiderotior. of the sum of Forty One Thousand Seven Hundred
<br />and OOJ100ths-----------------------------°-----Dollars (5 41.700.00 ),paidbytheMott-
<br />gagee, the receipt of which is hereby acknowledged, has Granted and Sold and by these presents does Grant, Bar-
<br />' gain, Sell, Canvey and Canftrm unto the Mortgagee. its suceessors and assigns, forever. the €oliowing-described
<br />real estate, situated in the County of Hali ,and Slate
<br />of N ~xaska, to xat:
<br />The Ease Fifty-eight Feet (E58') of Lat Sixteen (lb) and the West Three Feet (W3')
<br />of Ltst Seventeen (1?), in B1o,Jc Three {3), in Westerhoff's Second Subdivision, being
<br />a resttbdivi_sion of t32e South Half of Flocks Three {3} , and Faur (4} and the North
<br />Saif of Blocks Five {5), and Six ,6} in t+lesterhoff's First Subdivision in the City
<br />of Grand island, Hall County, Nebraska.
<br />Also known and numbered as: 3011 W. 17th, Grand Island, NE 68801
<br />i7f tie gvh priaapa! Meridiatt,.onGtining in a!! City Property acrts according to Govern-
<br />tneaR talrcev:
<br />TO HAl'E :9ND TCr HOLD the premiszs above described, v,-ith all the appttttenaaces thereunto belottgmg and lachldtag
<br />a81ra~, g and ie~rti~ frxiures and tgtdpmrnt now ar hereaftt3 attached to of used in canttrction with said teal estate
<br />r~ tks lioriga~or, a~ to its sttxtssors and assigns, forever. The Mortgagor represents to, and covenants r. ith, the Mortga-
<br />gee, thsst the frtort8agtx has grond tight to seA and convey said ptxmises; that they are fret from e~-unabrance; and that the
<br />e~ w~sttant a~ defend the same agaittsx ~e tsw~fai chums of al! petsorn whomsoever; and the said Mortgagor Isat-
<br />by all tip of isoaaes~d, and aH ulactis3 rights, eithe3 is lav; or in e+ittity, and a8 other conthsgent mtertsts ~ the
<br />m ats$ Ht theabove-desetr~ed premrses, the inirntxm bring ro convey Abp an absolute tine. irl fee simmpie. irizluu'-
<br />isg ag t~ tsi 6oaeslrad, asd other rusts andnsterests as aforesaid.
<br />P~QVp?ED ALW AYS, and tltest presents are executed and delivered upon du fa!!aA ittg conditions, to wit
<br />Tits Mortgagor agras to pay ~ the Mautgagte. tx crdcr, the principa! sum of Forty Date Thousand Seven Hundred
<br />ate C#} ~i9pths_____~~Y____~____~ DnNars iS 4i , 700, 00 ), with intuest from
<br />d~ at arse rssrt ~ F,.Zeven and one half per centtlm { 11.50 `'f! per annum on
<br />the ttapaid haisaor ottrd paid. The said pritte~al ant! itterest shall bt payab}e at the office of Mortgage Plus Eacarporated
<br />in Fsbglcvaood , Colorado , at at such other place as the holder of
<br />the aau may dtaignate in ~'. in monthly ffistailments of (according to schedule A attached to said note)
<br />_„~~_________~__ Dollars t5---________________~__ t. commending an the first daY of
<br />Ftartlr , 19 80 , and an tirr [first day of loch retonth thereafter anal the principal and in-
<br />tereu are faBy paid, except that Ilse fsnai pa 'mt~lt of principal and interest, if not sooner paid, shat! be due and
<br />~,m ~ dry of Fp*•*+ ary, 210 ; all according to the terms of a certain prantis-
<br />tavy tt~+~ eve daae ~ exec-mod by the ssitt I~~ut~r.
<br />s T>se Mir yn at+drr m~e #aNy ~ protect the stxaa'ity of this Mortgage, agrees:
<br />I_ Than Tm swtl! gay #te ASS, as hatiabefmt provided. Privik;r i~ ttservtd to pay the debt in whole, ar to an
<br />ataaarnt agaal m tsae tr am>a#ily gaymetus cat the prixipal that art next due on the rx~te, on the first day of any month
<br />¢iar us ttaabavy: Frtwrided, !lvwever,711at ttrrittea arnict of as intention to exercise suelt privuegc is given at least thuty ti~i
<br />'dam ~ ~ y-
<br />3. Tiac togrber tavit, aedm stldi~t+n to, t4sc manth3y payaents at principa! and interest payabk under the terms of the
<br />ode shred may, tae wa'g gay w the MtlrtBaaet, on rise first day at ta:.It month anti! the sail) note is fully paid, the
<br />it~aritq wms:
<br />(a) Atnauoi sutfticaast to proridt the hrslder htrcof with funas to pay the next mortgage insurance pretnitlrrt if this
<br />ant atnl the tso~& aeeuttd tbY art imttred, or a monthly Burge lin lieu of a mnrrgage insurance prt-
<br />nr&nrrl if they are b'd the Stecrettry of Housing and lJrbast Dtwelopmtnt, as follows:
<br />{(} if tti Ii>1~ as mid Hate of tvea dart oral this irtstruumem are insured ar are reinsured under the pro
<br />viatons of Ute Nttionstl Hotsai~ Act, an amount tufikitot to accumulate in the hands of the holdzr one
<br />STATF.OFNEBRASKA
<br />P,IIVtoua Icdtjyy aVf ~~ FHA-2743M 170-171
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