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<br /> INDIVIDUAL
<br /> DUE OfY SALE
<br /> � '�{�'r' QPTIONAL FUTURE ADYANCES
<br /> �L SAVINGS FUND
<br /> � FORn� No.720 �
<br /> ��COLN 34319 — 18 — 1
<br /> f � Loan Numb2r-------------.TY,> ----B.s��h
<br /> 7�'UC�5223 M O R T G A G E
<br /> � THIS MORTGAGE,made and executed this ' �r.�i. day of ��j..�n�s��✓ A D.;
<br /> ` 19...7_7...-,between the Mortgagor, ....A_nold._L.,,,Thurlow_and Laura. ,J ...Thurl6w,.,husb��d_a�d:_b.ige
<br /> ' _, ...�ozntly__and .each_in_.their own right.
<br /> , ..------ -��----- ---�- • ---..... ....... .. ._----�- �---�-•-• ---��---------
<br /> ' of...Grand.Island , County of . ..Hall„_._,_______. State of...Nebraska_;__.._,hereinafter referred
<br /> • ---........, ---•--�
<br /> to as the Borrower, and the Mortgagee, FIRST FEDERAL SAVING5 AND LOAN ASSOCIATION OF
<br /> LINCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter referred to
<br /> as Lender.
<br /> > Wi x: That the said Borrower for and in consideration of the sum of SIXTY THOUSAND _
<br /> ; AND N��1���----------------------------------------- , 60 000.00
<br /> ; -------------------��--�•--------...........:........._.......°----............ ....--- ----.....----..._.Dol.ars (US$._...---'- ---.._ ..--�------� ,
<br /> paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the
<br /> ; following described property located in the County of ......,Hall .., State of Nebraska:
<br /> '� Lot Eight (8), in Block One (1) in Southern Acres Addition to
<br /> the City of Grand Island, Ha11 County, Nebraska_
<br /> a� � � � � � � � �
<br /> TocETHEx with all the improvements now or hereafter erected on the property, and all easements,
<br /> y rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights, and
<br /> water stock, and all fixtures now or hereafter attached to the property, all of which, including replace-
<br /> ments and additions thereto,ahall be deemed to be and remain a part of the property covered by this
<br /> Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this
<br /> Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br /> to mortgage, grant and convey the Property, that the Property is unencumbered, and that Borrower will
<br /> warrant and defend generally the title to the Property against all claims and demands, subject to any
<br /> easements and restrictions listed in a schedule of exceptions to coverage in any title insurance policy in-
<br /> suring Lender's interest in the Property, or (2) attorney's opinion of title from abstract of title certified
<br /> by bonded abstracter.
<br /> PeovtnEn ALwaYs, and these presents ar� executed and delivered upon the following conditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> ' The Borrower agrees to pay to the Lender, or order, the principal sum of _..SIXTY_THOiJ.SAI�ID,A�l?.___ '
<br /> ° ----TJ91_100r.--c--r..-r---.---.--.----.-.----------.-----.-------._.Doliars (US$...._...60,000..�0..:_-----�-�
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> if not sooner paid,on the----...1.s.t-------------- day of ....._.. .Eebx.uarY .....---...._-.., 79.9$._.
<br /> UNtFoaM CovExnxTs. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Pzincipai and Interest. Borrower shall promptly pay when due thc principal of and in-
<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 Le»der on the day monthly installments of principai and interest are payable under the
<br /> Note, until the Not:e 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 pius
<br /> one-twelfth of yearly premium installments for hazard insurance, plus one-t�veifth of yearly preinium in-
<br /> stailments for mortgage insurance, if any, all as reasonably estimated initialiy and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof,Lencler shali apply the Funds
<br /> to pay said taxes,assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br /> holding anci appiying the Funds or verifying and compiling said assessments and bills. The Lender shall
<br /> give to theBorrower,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 aclditional i
<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 ��. •z- {�,
<br /> from its own#unds'and the Lender shall not be liable for interest or dividends on such Funds. ' �""' '
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<br /> ' If the amount of the Funds held by Lender,together with the futare monthly installments of Funds i, .
<br /> payable pzior to the due dates of tases,assessments, insurance premiums and ground rents, shall exceed �
<br /> � the amount r uired to a said taaesy assessments,insurance remiums and '' �
<br /> e4 A Y p ground rents as they fall due,
<br /> such excess shali be; at Borrower's option, either pmmptly repaid to Borrower or credited to Borrower on ` '"�""r,
<br /> monthly in�#.altments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br />� tases, assessmen#,,, iiL;urance premiurns and grouna rents xs f,hey fali du�e, Bt�rrower shali pay i;o Lender �
<br /> any amovnt necess�ry to zn2lce up the deficiency �czthin thirtS days after notice from Lender to Bonotic�cr
<br /> requesting payment thereof, or Bonower shall, by an increase in monthly installments of Funds required,
<br /> repay the deficiency within the Fund accounting period_
<br /> i 7ru�n pstyment in Rill ->f all 4ums secure3 b3 this 114o�teaec,Lender shsll apgl}•Funds held as a credit �
<br /> against ali sums due.
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