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INDIVIDUAL "
<br />DUE ON SALE
<br />OPTIONAL FUTURE ADVANCES
<br />SAVINGS FUND
<br />~aNM Na. 720-479
<br />Loan Number___ 45QQ9_-__~2_-__~._
<br />$O-- ~~~ M O R T G A G E
<br />THIS MORTGAGE, made and executed this ...._.31St............_.. day of ._J!?%Y......_ ..:................. A.D.,
<br />19_80..., between the b4ortgagor, Paul-H, .Blank3nship__and_Beverly-.J...Blankin hip.x-.---_---___.--_._
<br />husband and wife, jointly and each in their own right, --------
<br />of brand Island Hall State of -Nebraska ,hereinafter referred
<br />-- - - ..... ,County of - - ...
<br />to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />LINCOLN, 2235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br />as Lender.
<br />WtTxESSerx: That the said Borrower for and in consideration of the sum of _F9.RTY..'AIREE_.THOUSA*ID
<br />71fREE_HUNDRED_AND,.N4/100-.---------.--------c--------Dollars (US3--43-,.300-. 0.0--......_..........)
<br />paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br />foIlowing described property located in the County of-__-_ Hail__-_---_._.-__--._-.-., State of Nebraska:
<br />Lot Two (2), Block One (1), Lake Davis Acres Subdivision,
<br />Ha11 County, Nebraska.
<br />Toat:Txea 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 stock, and all fixtures now or hereafter attached to the property, all 0# 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 (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, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br />warrant and defend generally the title to the Property against all claims and demands, subject to anc
<br />easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br />suring Lender's interest in the Property, or (2) attarney's opinion of title from abstract of title certified
<br />by banded abstracter.
<br />Pxovcoeu ALwws, and these presents are executed and delivered upon the following conditions, agree-
<br />ments and obligations of the Borrower, to-wit:
<br />The Borrower agrees to pay to the Lender, or order, the principal sum of - FORTX..THREE.. THOUSANU-
<br />TI3,REE..H.U.NDAh.D..A(!ID..Nt)/1.4.4..------rr.----.---r-r_-.----r..----Dollars (US $..4.3.34A..00 _. .. _.-.---
<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..__..- day of .._.,Noyember__ _ _ , ;q ?t7Q8
<br />UNIFORM Covex~xTS. Borrower and Lender covenant. and agree as follows:
<br />1. Pm~mert of Principe: and Interest. Harrower shall promptly pay when dur the principal of and itr-
<br />terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br />and the principal of and interest on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof, Bor-
<br />rower shall pay to Lender an the day manthly installments of principal and interest are payable under the
<br />Note, until the Note is paid in full, a sum (herein "Funds") equal to one-hvelfth of the )°earty tales and
<br />assessments which may attain prioriky over this Mortgage, and ground rents nn the Property, if an}' phts
<br />anc-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium in-
<br />stalhnents far taoeigage insurance, if any, all as reasonably estimated initialh° and from tune to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereti, Linder shall apply the Fun is
<br />to pay said taxes, assessments, insurance premiums and ground rents. Lender shall make no chxrgc for ao
<br />holding and applying the Funds or verifying and compiling said assessments and bills. The Lender shall
<br />give to the Harrower, without charge, an annual accounting of the Funds showing credits and debits to the
<br />Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for the sums secured by this Mortgage. The Borrower agrees that the Funds may be held by the
<br />Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br />from ifs own funds and the Lender shall not he liable for interest or dividends on such Funds.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />'payable prior to the due dates of fences, assessments, insurance premiums and ground rents, shall exceed
<br />the amount required to pay said taxes, assessments, insurance premiums and ground renGS a_s they fall due,
<br />such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on
<br />monthly installments of Funds. If the amount of the Funds held by Lender shall not he suf&cient t.o pay
<br />taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />any amo.mt necessary to make up the deficiency within thirty days after notice from Lender to Borrower
<br />requesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required,
<br />repay the deficiency within the Fund accounting period.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall apply Funds held as a credit
<br />against all sums due.
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