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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> �� OPTIONAL FUTURE ADVANCES
<br /> �� SAVINGS FUND
<br /> � FORM N�.720 ----_ --__:
<br /> �� Loan Number___ _35035 - _ 188 1_.
<br /> TYVe drsr�r.n
<br /> 77- �����°'j�31 M O R T G A G E
<br /> THIS MORTGAGE, made and executsd thir _ �� dav of �r�l`E''��L A.D.,
<br /> 19.7,�'..,between the htortgagor. Ja.ck_A.. Brown and Cleta H=Qwn, husband and.s,rife, jointl�
<br /> and_ each.,in_.thei_r own.,.rig,ht.,._. ., ..__
<br /> _....._._.__ _ _..__ _ __. __ _ . _ _ ___ _ _. __...
<br /> of __._Grand .Island , (ounty of _. Hall __ _ , State of NebTaska ,hereinafter referred
<br /> to as the Borrower, and the Mortgagee, FIRST FEDF.RAL SAVINGS AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Stseet, Lincoln, Nebraska 68501, its succravors and assignti, hereinafter referred to
<br /> as Lender.
<br /> WITN 'SS'TH: T}1HY the said Borrower for and in con5ideration of the sum of EIGHTEEN THOUSAND
<br /> ol�ars (LS�+ _..... )
<br /> _AND NO�lO�S-----------------------------------------� � , 18,000.00
<br /> _ __
<br /> paid bY said Lender, does hereby mortgage, grant and convey to Lender, its succes�sors and assigns; the
<br /> following described property located in the County of __ Hall , State of Nebraska:
<br /> Lot Four (4) in Block 'Phirteen (13) in H. G. Clark'�
<br /> Addition to the City of Grand Island, Iiall County, Nebraska.
<br /> Tcx:eTxr:s with all the improvement� now or hrreaft.er erected on the pmperty, and all easementti,
<br /> rights, appurtenances, rents, royalties, mineral, oil and �a5 righte and pmfits, water, water rightF, and
<br /> water Ktock, and all fixturen now or hereafter attached tu 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 foregoinK, together with said propert,y (or the lea�ehold estate in the event this
<br /> Mortgage is on a leasehold) are herein referred to as the "Propecty".
<br /> Borrower covenants that Borrower is law�fully seised of the e5tate herFby conveyed and hae the right
<br /> to mortgage, grant and convey� the Property, that the Propert,y i�; unencumbered, and that Borrower will
<br /> warrant and defend generall}� the title tu the Propert.y against all claim�; and demands, subjrct to any
<br /> easements and restrictiun�: listed in a ychedule of excrptions to coverage in any title insurance policy in-
<br /> suring Lender's interer;t in the Propert_v,or 1:-') attorney'ti opinion of title fr��m abtitract ot title certified
<br /> by bonded abetracter.
<br /> P�ov���n ALWAYS, and these presents are exeivtc•d and deliverecl u�m the followin�conditions,a�;ree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> The Borrower a�rees to pay to the Lender,or order, the principal �um of EIGHTEEN THOUSAND AND
<br /> H.QL,1�0------------------ ----------------------------Ho11ar� �1'S ;� 1_S..QQO.OQ _ )
<br /> ___ __.. ___ _ ____.
<br /> payable as provided in a note executed and delivered, concurrenUy hrrc�with,the�final pay�nent uf principal,
<br /> i(not eooner paid, on the 1st day af I�ecemter .�?DO�
<br /> UNIFURM Cc�vtxnNTs. Borrower and I.ender covenant and a�ree as follow�:
<br /> 1. Paymeat o!Principal and Intezest. Bormwer shall prucnpkly pay when dur: thE: principal uf nnd in-
<br /> terest on the indebtedness evidenced by the :�utr, prepaymFnt �nd late e�harRec a, provided in the Nott�,
<br /> and the princ•ipal of and interest on any Future Advancrs secured b� thi� �turt�;a�e.
<br /> 2. Fuads for Taxes and Insurance. Subjrc�t tu Lr.ndrr's uYliun under p�ara�,raNhs 4 and :� hrrc�uf'. Bor-
<br /> rc�wer sliall pa� tu Lender on the day monthly in�tallrnenl::uf principal and interest are}�ayable widi•r Ihe�
<br /> Note, until the Not� is paid in full,a sum (herein "Fund.�") equal to one-twelfth ot' the }•rarly taxe�. an�l
<br /> aer,eFsment5 which may attain priority over this 11orl�;agt•, and �round rent� un the ProE�erty, if an� plu�
<br /> one-twelfth of ��early premium installment� for hazard in�uran���, plu� nnc�-tk��lfth nf }oxrh� premium in-
<br /> stallments for mortgage in5urance, if any, all a5 reasunal�ly e�timated initially anil from tirnr to time bv
<br /> Lender on thP hacia nf e5v�srmPnt.�and hillc enrl reac�inHhlr e�ctimate�� thf�rr��f. Lr•ndE���hall .ia��.l� thr� Fimr1�
<br /> to pay ssid taxee:, acees�mentN, incurance premium�;and �round rentv. I,ender �hall make no c�hargF for���
<br /> hoiding and applyin� the F'unde or verifying and compilinR said a,.e.amrnt5 and billti. The Lrnde�r tihaU
<br /> give to the Borrower, without charge,an annual accountin�of the Funda showin�credik�and debits to the
<br /> Funds and the pur�wse for which each debit to the Funda was made. The Fund�; arr pledKed ae additional
<br /> security for the sums secured by this Mortgage. The 23orrower aKreea ihat the Funds may br hr.ld b�� the tk
<br /> Lender and commingled with other funds and the Lende�r'ti own funds and the Lender mav pay�uch item. .,�^
<br /> fmm its own funds and the Lender shall not be liable for intern�:t or dividends un .uch F'und.. �" '
<br /> � If the amount of the Funda held by Lender,toqether with the future monthly installments of Fund�
<br /> payable prior to the due dates of tazea, aseeys:nente, ineurance premiums and gmund rent�, Khall exceed
<br /> the atnount t+eyuired to pay said taxes,aeae�ments,insurance premiumx and Rround rentv a.c the�• falt dur,
<br /> such ezcese shall be, at Botrower'� option, either promptly repaid tn Bormwer or c�reditrd to Rorrowrr un
<br /> munthly inetaliments of FundF. !f the amount of the Funds held by� Lender shall not he �ufti��ir�nt t�� pa��
<br /> taxes, aesee�enirnf.h;, u�urana:e �renuum� and ground rentaf as they fall due, liorrower shall pay to L.r�ndrr .•
<br /> any amount necessary to make up the de8ciency within thirty days after noticc• from Lender to Aorrower
<br /> tequeating payment thereof, or Borrower shall, by an increaise in monthly installmrnt.�uf F'und. rw�uired.
<br /> tepay the deficiency within the Fund accountinR �wrirxl.
<br /> UEx�n payment in futl of all suma secured by thi� Mortgaqe,Lrnder,hall apph Fundti I�<-Id;�.a rrrd�t
<br /> aKainst all sums due. {
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