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INDIVIDUAL
<br />DUE ON SALE
<br />FORM No. 720
<br />~«,N Loan Number, _ _x+833 _ _- 18 -- 1
<br />8 . ' - rr;~-----a.a~«
<br />~°y~i,l
<br />M a R T G A G E
<br />THIS MORTGAGE, made and executed this .__... _l~th....._... day of .....;._Jtute.........._......_.. A.D.,
<br />19...8Q.., between the Viortgagor, ..._ Tom- I)eveloptnent_ Co. , a partnership.,,
<br />of ... Grand Island --.--_, County of .....-~11 ....._..._.- --_., State of ....Nebraska,..-., hereinafter referred
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS ANL ~OAN A5SOGIATION OF
<br />LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred. to
<br />as Lender.
<br />WIT T ,''dd B ow (q~ and in consideration of the sum of __.._.._ ......................._._.
<br />ONE HU~~~J~'vrJ ~ I~/lU0 ------------- Do)lars tUS w_150.,9QQ_(JU...--rc.--_.)
<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 the City oY Grand Island,
<br />Hall C,otmty, Nebraska.
<br />TOGETHER 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 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 by this
<br />Mortgage; and all of the foregoing, together with said property for the leasehold estate in the event this
<br />Mortgage is on a leasehold) aze herein referred to as the "Property".
<br />Borrower covenants that Bormwer is lawfully seised of the a-tale hereby conveyed and hms the right
<br />to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to t.,e Froperty against ail claims and demands, subject to any
<br />easements and restrictions listed in a schedule of exceptions to coverage in any fine insurance lxxlicy in-
<br />suring Lender`s interest in the Pmperty, or (?) attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />P$OVIDED Ar.w:ars, and the,.e presenis are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, fo-wit:
<br />The Borrower ~a~pprces to v to the Lender or order, the principal sum of
<br />ONE_HI,IrIDRED FIFTY 1H0 }[T~f.ND AAID NO/ll}d ------------- DoAan it'•S 5.-150,000.00 -------
<br />- -- - __ _
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, on 'the - - first- - ..-. da}• a# J'-fly- t9~~.- -
<br />ULttaoRnt GovE:vnxTS. Borrower and Lender covenant and agree as #ollows:
<br />I. Payment of Principal and Interest. Bormwer shall promptly pay when due the principal of and in-
<br />Geresi an the indebtedness evidencc~ri by the Notz, prepayment and late charges as provided in the No#e,
<br />2. £nnds for Taxes and In&uraace_ Subject. Lo Lender's option under paragraphs -I and ~ hereof, Bor-
<br />rower shall pay to Lender on the da}• monihly installments of principal and interest are payable: under the
<br />Note, un#il the Note is paid in foil, a Sum therein "Funds") eyual io onr-twelfth of the yearly tale, and
<br />asse~.Gtnents which may attain priority over this lfor'_gase, anri ground rents on the Proper#.y, if any plus
<br />one-tweif#.h of yearly premium installments for hazard insurance, plus one-twelfth of yearly premituu in-
<br />s#alhnent;~ tar mortgage insurance, if any, ail as reasonably esfixnatecl initially and from time to time by
<br />Lendet on the basis of assessments and bills and reasonable estimates thereof, Lender shall apply the Funds
<br />to play said taxes, assessments, insurance premiums and ground rents. Lender shalt make no c hacgc for so
<br />balding and applying the Funds ar verifying and compiling said assessnxents and hi!!s. The Lender shall
<br />wive to the Borrower, without charge, an annual accoufxiing of the Funds showing credits and debits to the
<br />Fends and the purpose far which c7ich debit to the Funds was made. The 'r'unds are piedgeci as additional
<br />security for the sums secuted by ihii .Mortgage. The Borr~iwer agrees shat the Funds may be held by the
<br />I,endr:r and camming}ed with other funds and the Lender`s own funds and the Lender may pay such items
<br />from its own funds and the Lerxdex shaA eat be liable for interest. ar dividend+ ~,n >;uc h Funcls.
<br />If the amount of the Funds held by Lender, together with the future moat.l.ly instnllnecnts of I^'undx
<br />payabet; rstior to the due dates of faxes, asaes.=ftnents, insurance pn-mums and ground rents, shall e xce~d
<br />t}tcy amount. required to )say .,old taxes, assessments, insurauce premiums and ground rents as the> tall clue,
<br />such excf<ws alrall bc, at Barrowera option, either promptly repaid Lo Borrower or trreditcd u; Barrow,~r ~u
<br />mtsntltly installfxxeats of Funds. If the amount of the Funds hsid 1+p l.e-uder shad nut hs ~ufh.i.~nt t„ ;,tip
<br />faxes, asseszunents, inurance preruitirns anal g:oa2d rentu as the} fall due, llrxruwer shall pad to I.,endc~r
<br />an}= arnottnt xxe-yes, ary to make up the de&cienay within thirty aay'c; afte=r Holier fruin 1 s~ader to 13orruy~ cx
<br />rryuc~sting pa}'nxt.nt tlxereof, ar Harrower shall, by an invrea~ in m:,:st}~ly instalirnc~tt~ of i'uncl~ r,yuire~cl.
<br />repay the deficiency witlasn R_he Fund arcouniing period.
<br />I ipan tva,yrnt-ttt in full of all ~rtrtts reti'urec} by this hlurtgage=, ln~nd~~r ,.hall applt~ + un,iu hr-1:1 f;; ,a rr,~+lit
<br />apain4t all sucFxa rlui-.
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