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<br />~' DUE C1N SATE
<br />®1E~s^ OPrtQNAi FUTURE ADVANCES
<br />FORM 130.721
<br />l.aan Numbar_----5786- --18-----1---
<br />'rroe e.u,cn
<br />~~~--~}~~~28 MORTGAGE
<br />THIS MORTGAGE, made and executed this ...__-1?ftli -_ ....-..._ day of ...-November A.D.,
<br />I9..~1..., between the Mortgagor, -WESTERN HEIGHTS DETIE:,OPMENT -CO..-------------------------- ... - .. - - ---
<br />- - - - -- -- - - - ..._......_... - -- .,........- - -- - ...... ------ - -..., a corporation,
<br />organized and existing under and by virtue of the laws of the State of ..........?~ebraska , herein-
<br />after referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN
<br />ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns,
<br />hereinafter referred to as the Lender.
<br />WfTxzsseTx: That the said Borrower for and in consideration of the sum of ..THIRTY- SIX, THOUSAND
<br />.1ND_-NOf 100---.----.----.----.-------.---_-----Dollars (LTS ~--36-,O~,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 Three (3), in Block Thirteen (13), in Lamberts
<br />Addition to the City of Grand island, Hall County,
<br />Nebraska.
<br />TocsTaea with all the improvements now or hereafter erected on 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 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 (or the leasehold estate in the event this
<br />Mortgage is on a teasehold) are herein referred to as the "Property",
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and }:as 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 any
<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) attorney's opinion of title from abstract of title certified
<br />by bonded abstracter.
<br />Paavzoso ALWAYS, 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 _ THIRTY_SIX THOg;;AN.D..
<br />AND NO/100--_-----------------------------------__--Dollars (LiS 5_..36,000.00.--- - __ )
<br />payable as provided in a note executed and delivered, concurrently herewith, the final payment of principal,
<br />if not sooner paid, on the ._--_iirst._,-__._ day of -_...Noyeipber,____-.--____.,. _- 1<9..2Q~?l
<br />Ux1Fax;a Covs;r3Ax,s. Boncwer and Lender covenant and agree as follows:
<br />2. Payment of Principal and Interest. Borrower shall promptly pap when due the principal of and in-
<br />terest on the indebtedness evidenced by the Note, prepayment and late chazges as provided in the Vote,
<br />snd the principal of and interest on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and In-surance. Subject to Lender's option under paragraphs 4 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 (herein "Funds") equal to one-twelfth of the yearly taxes and
<br />assessments which may attain priority over this Mortgage, and ground rents on the Property, if any pins
<br />one-twelfth of yearly premium installments for hazard insurance; plus one-twelfth of yearly premium in-
<br />stallments for mortgage insurance, if any, all as reascrably estimated initially and from time to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereof, Lander shall apply the Funds
<br />to pay said taxes, assessments, insurance prenuums and ground rents. Lender shall make no charge for so
<br />nolu'ing and applying the Funds or verifying and campiting said assessments and bills. The Lender shall
<br />give to the Borrower, without charge, an annual accounting of the F'unda 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 iPndor's own funds Ord the I.:nd _~ .,. •^h ;
<br />e, a,aay pay iua. .w u
<br />from its own funds and the Lender shall not be 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 taxes, assessments, insurance premiums and ground rents, shall exceed
<br />the amount required to pay said taxes, assessments, insurance premiums and ground ronts as 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 net 6e sufficient- to pay
<br />taxes, assessments, insurance premiums and ground rents as they faU due, Borrower shall pay W Lender
<br />any amount necessary to ataice up 'the deficiency within thirty days after notice from Lender to Borrower
<br />requesting oaument. thereof, or Borrower ,hall, ly az incrasc it monthly insttilhnents of Funds rE~uired,
<br />repay the cle~ciency within the Furd accounting periad.
<br />1J}wn payment- in fuH of all sums secured by this Mortgage, f.en ' -^ shall apply Fund:: held as a credit
<br />againsT all sumx doer,
<br />
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