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CORPORATION
<br />~~ DUE ON SALE
<br />t~pA~ OPTIONAL FUTURE ADVANCES
<br />f ~J~RM~ FORM N0. 721
<br />Loan Number___44272___ _ L~__. _gal~
<br />~.'~-~ ~~'~'°~' M O R T G A G E
<br />THIS MORTGAGE, made and executed this ._ ._ _.L~% .__....... da~• of - ~~'' v_-:=.5,1}-.__ - ...-.. A.D.,
<br />19._.~;?.., between the ;vlortgagor, _..SAX' S, r IZZG._ OF, GRAND. ISLAND.,,. INC,,
<br />_ ............. .._._ -___._-.._._ _ _._ ___.._. __ .._..._.._. _...._.....-.-.._._.._...-......---......._....-_...._.__., a corporation,
<br />organized and existing under and by virtue of the laws of the State of Nebraska._.-._--.-__..___-, herein-
<br />after refereed to as the Borrower, and the :Mortgagee, FIRST FEDERAL SAVINGS AND LOAN
<br />ASSOCIATION OF LINCOLN, 1^35 "N" Street, Lincoln, Nebraska 68~Q1, it_5 successors and assigns,
<br />hereinafter referred to as the Lender.
<br />WtTxesse•rx_ That the said Borrower for and in consideration of the sum of _'Iti?EN'1~-FIVE,.__-_._,-,
<br />__THOL'SAND..EIGHT.-HUNDRED..911D_NQ1.J.9Q--''---.------.-~_--Dollars (US ti_,_25-,800,00..-._..._....-..)
<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 />The Easterly SO' of Lot Six (6) in Block Seventy-One {?1)
<br />of the Original Town, now City of Grand Island Hall County, Nebraska
<br />TocFTxae with all the improvements now nr hereafter erected an the propertc, and all easements,
<br />rights, appurtenances, rents, royalties, mineral. oil and gas rights and profits, water, water rights, sod
<br />water stock, and all fixtures now or hereafter attached to tht property. all of which, including replace-
<br />ments and additions Thereto, shall be deemed to be and remain a part of the propert}• covered by this
<br />Mortgage; and all of the foregoing, together r4ith said propertc (or t-he 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 rrf the estate hereby conveyed and has the- right
<br />to mortgage, grant and evnvey the Property, tha± the Property is unencumbered, sod that Borrower will
<br />warrant. and defend generalh• the title Eo tfur propertc against nil claims and demands, subiect to any
<br />easement, anti restrietions Listed in n schedule of exception, to coverage in any t-itk insmince lwlkw itt-
<br />suring Lender'. inferest. in the Prvpcrty, =.+r r'.') attvrncc•'- r:piniatt of title from abstract of title certified
<br />by bonded abstracter.
<br />F'gnvmEa Acwars. and these presents ~rrc execukcd mtd delicc.ed upRon the following conditivns, agree-
<br />ments anti obligations of the Burrower, to-wii:
<br />'I`he Borrower agrees to pay to the Lander, or order, the principal sum of Th'E,NTY-FIVE `C1f0USLiND
<br />FIGHT HUNDT?EA ANA- rlQL100--------------------------Ilnllar. tf`S $ 25,.SOO.OO }
<br />pa>•ahle as provided in a note executed and delivered, cuncurrentiy herewith, the fiord pupurent ni peas ipal.
<br />if not soonc°r paid, un the First det~ of Apr i 1 , ,fit ?OOO
<br />[itvrtvrent Crrvertnrt•rs. Borrower anal Lender covenani. and agree as toltutw
<br />1. Payment of Principal and Interest. Boen~k°er shrill prurnptly pa}' ~:h„n etas- ;he prinripai ra .rod in-
<br />terest on the indebtedness evidenced by the Mute, prrp;ryntent and late charge: a; prn~uled ur the lwe,
<br />and the principal of and interest on an>' Future :ldvanrev secured by this \inrtgagu.
<br />2. Funds !or Taxes and Insurance. SubjtK t tv L~,~orler's upuun uuder p;u•a;;raph~ -t au,! ~ beer-ul, fiur-
<br />rvwer shaft pay to bender on the dac monthly installments of principui .rn•-I iutrrea ;err t~a,;iLly .:rul,~r that
<br />Note, anti! the 1V'ute is paid in full, a sum therein °Fund') equal to one-te~clfth o! the }~~arir iase:rud
<br />assc+ssrrienes whie•h Wray attain priority over this A4ortgagr, :end ground rents nn the 1'ruparty, it ;ut}~ pht,
<br />one-twelfth of yearly preutictnt invttilments for hazard insurance, plus: near-twelfth of yearip premium in-
<br />stallments for mortgage insnrance, if ant°, aft as reasunaldy estimated initiafl}~ soil from titm• to terse 1,}•
<br />].,ender ott the t,a:as of asaks ttents and hills ,roil reasonaLile estiuutUty r hrtro•rrf: Leudur >haU apply the Fundy
<br />to pay said taxes, nsaessments, insurance prerniunrs and groaner rent+, f.r°ndcr shall make no chart;c fur =n
<br />holding and applying the Funds or verifying ;end rompilutg raid assessments ,uui hills. 'The l.endor shetll
<br />give: tv the Borrower, without charge, tut annuat accuuuttng rrf the T~`unds shuwing credi69 and debits to the
<br />Funds and the purpose Eor which each debit to the Funds was mada~. 'Che Funds tree pk•dgrd ay additimt:cl
<br />security For the sums secured by this !~iartgage. The Borrower agree. that the N'wtds may he hale; ht the
<br />Lender and commingled with other funds sod the Lender's own Iuntis curd the Lund<~r nary pas .~w h itour.~
<br />from its own funds and the Lender shall not he liable fvr interest nr dividcmcis uu .urlt fund..,
<br />If the amuunt of the FutixLs held by Lender, together with the futuro nutni-hiy installments of Funds
<br />payable prior tar the due dates o[ taxes, assessments, insurance, premiwna sod ground rentH. shall r•xrtr,l
<br />the amount n?yuirad to pay said taxes, assussments, insurance premiums amt ground rrsnt:: as they fall ;hu•,
<br />such exrtss shall be, at Barrow~•r's optics, either pttrrriul.ly re>airt to 13orrowur yr err <litcri in Rorrurr~vr ,~n
<br />monthly instaihncutts of Funds. If the smvuni of the- Funds Meld by tender shall not he :;uthrirrrt ro t',rr
<br />taxos, asse~tsmenGS, instuanee pretniun>_s and ground rents as they fall dues, Burnrreer ahatll pay to lw•ndrr
<br />any amount necessary to make up the deficiency within f.ltirty nays after notitc fmrn i.eoder ter Itr,rroa.~r
<br />requesting payment thereo€, cr I3arrowar shat{, by an increase in tnontltly snKt..llocn~<-,f Furth: rcy.=nrtl,
<br />repay the defiriencp within the Fund accounting period.
<br />Upon i>Jyutertt in full nl all sums secured by thi,.; ~~h±rtgage, fnoxirr .dnrtt rep{>i~ Pmtay to ~d a, :a rre•,irt
<br />against nll aunts due,
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