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<br /> IIVDIVIDUAL
<br /> DUE ON SALE'
<br /> �.����`�w■ OPTIONAL FUTURE ADVANCES
<br /> SAVWGS FUND
<br /> �6V�1_L . FORM No.720 _
<br /> ■■ �V
<br /> a'� v� Loan Number__34�.32___-_L�&____-Balh
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<br /> 77- �O�R?j M ORTGAGE
<br /> � THIS MORTGAGE,made and executed this �3 ....:.... day of R.�,t.q.V_�� A D., �
<br /> .' 19..._77.,between the Mortgagor, . Kenneth..L;_ .Schwieg.er and_.Janice E.„_SchYaieger,_:,husband.and
<br /> i ' ,."wife, _aointly,:,and.each.in their,.own;right,.,
<br /> ..-- ........ ......-.--.... ... .. .---. ..... ... ....-•------
<br /> ! of.._..:Gran.cl Island.._. County,of._ .. . _Hall.., __.,__.._�State of. ,Nebraska hereinafter referred
<br /> . , .._., .. . ...............
<br /> to as`the Borrower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 °`N" Street, Lincoln, Nebraska 68501, its successors and assigns,hereinafter referred to
<br /> s as Lender.
<br /> � WtTxEsssTx: That the said Borrower for and in consideration of the sum of ..TWENTY_NLNE..THOUSAND "
<br /> " ';', AND NO(100--,----------------.----------.--------------Doi:ars (US$-.29. 000 00...... .... .....)
<br /> . .. -----• ............. .-•------.... ..._.---- �._..
<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 /> . ;
<br /> ' '' Lot One (1), B1ock Fifteen (15), in SchirmnerTs Addition to the City of Grand y
<br /> � Ssland, Ha11 County; Nebraska.
<br /> ' TocsTHEa 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 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 any
<br /> easements and restrictions listed in a schedule of exceptions to coverage in any title in3urance 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 /> � � PROVIDED.ALWAYS,.HRCI tlle52 pTESCIItS are executed and delivered upon the following condit�ions,RgI'6C-
<br /> ments and obligations of the Borrower, tu-wit:
<br /> The Borrower agrees to pay to the Lender, or order, the, principal sum of .TWENTY..NINE..THOUSANp_AI3D
<br /> ; NO/100 ------------------------------------------ 29 000 00
<br /> ; . ..........:..................•--------•---�--�---•-------------�--...._...---�----��-----._Doliars (US $-_..--z... ...---_. ....---�--�
<br /> ' payabie as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> < if not sooner paid,on the._...l�t_,_..._... day of. ...._.........Sep�sTub.ex......., 7�..20D6 �
<br /> UxisoxM CovENnxTs. Borrower and Lender covenant and agree as follows:
<br /> L Pqyment of Principal �d Interes� Borrower shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the 1Vote,
<br /> and the principal of and interest on any Future Advances secared by this Mort.gage.
<br /> 2. Funds for Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 herepf, $or-
<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 yearl,y taxes and
<br /> assessments which may attain priority over t,his Mortgage, and ground rents on the Property, if any plus
<br /> one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly prernium in-
<br /> stallments for mortgage insurance,if any,all as reasonably estimated initially and from time to time by
<br /> , Lender on the basis of assessments and bills and reasonable estimates thereof,T.ender shall apply the Funds
<br /> to pay said taaces;assessments ineurance premiums and ground rents. Lender shall make no charge for ao
<br /> haldina and spp?yin; the Funds or ver_'fyiag ar.d compiling snid assess:r:cr.ts and Uil!s. The Ler.cicr shall
<br /> give to the Borrower,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 ma,y be held Uy the
<br /> � Lender'and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br /> from its own funds,and the Lender shail not be liable for interest or dividends on such Funds. ,%,
<br /> �: . ,.__. _ ,�., :
<br /> If the amount o£the Funds held by Lender,together with the future monthly installments of N�znds g f� .'k�
<br /> payable prior to the due dates of taxes, assessments: insurance premiums snd ground rents, shall exceed ,
<br /> . .� the amount required to pay said taxes,asses,sments,msurance premiums and ground rents as they fall due, ' k,
<br /> such exceas shall be, at Borrower's option,either pmmptly repaid to Bortower or credited to Borrower on j�'r
<br /> montlily instzllments o# Funds: If the amount of the Funds held by Lender shall not be sufficient to pay
<br /> = taxes, assessments, insurance premiums and gtound ren�c as they fall d��e, Rormwer ahali pay tn Lender ' �
<br />� . any amount necessary`to malce up the defieiencY within thirtv days after notice from Lender to Bormwer
<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 /> LTpon payment in full of all sums secured b.y this Mortgage,Lender shall app1Y Funds held as a credit `
<br /> against all sums due.
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