|
INDIVIDUAL
<br />DUE ON SALE
<br />FORM No. 72P
<br />Loan Number__!i4833__-_ 18__-_1 __
<br />~~'~ TYP• BrnncA
<br />8a.-
<br />M O R T G A G E
<br />THIS MORTGAGE, made and executed this _........-l~th._.-..-_. day of .._.;...Jrme ..................... A.D.,
<br />19_.$Q--, between the Mortgagor, ......-TArtfi, Develo~nent. Co._,.__a.,PaitnershlP.,..._.---......_......-°-..-......---
<br />of ._ Grand_I53artd_ _., County of .---..~11......------.....----, State of ... Nebraska__.., hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AN^ LOAN ASSOCIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebrasks u8501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />W~t~r~t~~c~T T~~{ ghe ~a~'~ Bo ow~~e~ po and in consideration of the sum of ........................._...-...._.-.
<br />ONE tiU1VlJ~f~ll~`I)'IY 'L~JSt1ATD A~ i~tU/1(~0_------------- DoCars {US $..150,QQQ_OD.-.------.-?
<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 />Lot One {1) , Warren Subdivision, in tote City of Grand Island,
<br />Hall Cotmty, Nebraska.
<br />ToceTxErc with all the improvements now or hereafter erected nn the property, and all easements,
<br />rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br />water stack, and all fixtures now or hereafter attached io the propertc, all of which, including replace-
<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 pmperty t 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, grata and convey the Property, That the Property rs 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 schedule of exceptions to coverage in anyriile insurance policy in-
<br />suring Lender's interest in t-he Property, or (?) attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />PaovIDEe At.cvws, and these presents ate esecuted and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, to-nit:
<br />The Barmwer a - ra v to the Lender or vrder, the principal sum of
<br />xln~mxEO ~z>~Tif~t~ ~ l+Dj~ob ------------- Dollars (Its ~ is0,ooo oc..--=----)
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if rant sooner paid, on the . f1FSt. day of J?~?ZY 199- .
<br />Uxreotuu CovExax•rs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal m<d Interest Borrower shall promptly pay when due the principal of and in-
<br />terest on the indebtedness evidenced by the :vote, prepayment and late charges as prvvided in the 'vote,
<br />2 funds for Takes mid Insurance. Subject tv Lender: option `under paragraphs •t and 5 hereof, Bor-
<br />rower shall pay to Lender on the day monthly installments of principal and interest are payable under the
<br />Note, until the Note is paid in full, a sum {hefYin "Funds"} equal to one-twelfth of the nearly taxes and
<br />assessments which may attain priority over this ~2origage, and ground rents vn the Property, if any plus
<br />one-twelfth of yearly preiniunt installmen+c for hazard insurance, plus one-twelfth of yearly premium in-
<br />"tallments far mortgage insurance, if any, all as reasonably estimated initially and from time tv lime by
<br />bender on the basis of assessments and bills and reasonable estimates therevf, I Winder shall apply the Funds
<br />~ PaY said taxes, assessments, insurance premium-, and ground rents. Lender shall make no charge fcr so
<br />bolding and applying the Funds or verifying and compiling said assessments and bills. The Lender shalt
<br />give to the $or'rower, without charge, an annual accounting of the 1''nds showing credite anc1 debits to the
<br />Ftmds and the purppse fen which each debit #o the Funds was made. The Funds are pledged as additional
<br />security for the sums secured by this ?vortgage. The Borrower agrees that the Funds may he held by the
<br />Lettder and commingled with other funds and the bender's own funds and the Lender may pay such items
<br />from its own funds and the Lender shall nvt be liable for interest or dividends on such funds.
<br />If the arnount of the Funds held by Lender, together with the future mvnt.hly installments of Fund.
<br />payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shalll exceed
<br />the amount required to pay said taxes, assessments, insurance premiums and ground rent, as they fall chEe.
<br />aUCh excess Shall be, at BprfOweL S GptiOn, either pmInptly repaid t0 Bortnwer Gr credited t(1 BOrtI)ttlet (;n
<br />mvnthly installments of Funds. If the amount of the Funds held by Lender shat! not bc- sufficient f-v pay
<br />taxes, assessments, insurance pretr::uitis and ground rents as they fall clue, Borrower shall pay to Lender
<br />any amount necessary to make up the deficiency within thiri~. days after novice from I,rmder io Borrower
<br />requesting payment t}rercof, yr Borrpwer shall, by an increase; irr nxmt.hly installments of Fonda required,
<br />repay the deficiency within the Fund accounting Ixriod.
<br />Upon payment in full of all sums s=ecured by this Mvrtgas;c, Leader shall aplrly F'wuls lTe;ld as a cn;dtt.
<br />ay;ainSt all aUEYIS {lee.
<br />
|