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<br /> INDIVIDUAL
<br /> DUE ON SALE
<br /> ��'I' OPTIONAL FUTURE ADVANCES
<br /> �■ SAVINGS FUND
<br /> �� FORM No.720
<br /> L-���LN Loan Nurnber_-- 34321 —_ 18 --- 1--
<br /> � .. . ..' . . .. � TYOt Branch
<br /> �7� GQ5224 MO RTGAGE
<br /> i THIS MORTGAGE, made and executed this _ ..__...���'........... . day of .�c;]. r..ui.G.p.Y....._..: A.D.,
<br /> �• 29..:.77:,between the Mortgagor,Arnold L.._.Thurlow and Laura J_ Thurlow, �usband and wife
<br /> __aointly._and each in their own right ._. _
<br /> ......... . . ........ --�-- -- -------... -�-----.. . ._ ....----
<br /> op .Grand 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 /> as Lender.
<br /> ` Wtzx$sssTx: That the said Borrower for and in consideration of the sum of FiFTY TWQ..THOUSAND
<br /> --AND NO/Z00---_----------------.-------------------- , 52,000 00 -------
<br /> . ------ ... ... .. ......................Dol.ars (US$-._......._........t. ....J
<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 ..... . �'1.1... ..........__, State of Nebraska:
<br /> Lot 5ix, Block One, Southern Acres Addition to the Cityof Grand Island, F�L1
<br /> County, Nebraska.
<br /> TocETxEa 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 fixtnres 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 ciaims 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 /> PROVIDED 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 F�FT�'._.Ty1Q,_,�I;QU$AI37�_.......
<br /> --AND-.DI(1/.1DA-.------------r-=:=--r.-.-ar.rr_c-rr_c---r.r.c--r..-c.Dollars (US $.....----.5.?.,Q.90.Q9_..---._-_-)
<br /> f payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> ` if not sooner paid, on the....__.......}s:�_....... day of........�ebs�tta� �`� --•
<br /> �...................... r�g
<br /> UxiFoaM CovExnxTs. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal�d Interest. 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 Note,
<br /> and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Funds for Taxes and Insurcmce. Subject to Lender's option under paragraphs 4 anci 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 Propert,y, if any plus
<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 reasonably estimated initially and from time to time by
<br /> ' Lender on the basis of assessments and bills and reasonable estimates thereof,I�ender shall apply the Funds
<br /> to pay said taxes, assessments, insurance premiums and ground rents. Z,ender shall malce no charge for so
<br /> hotding and applying the Fund� or verifying and compiling �aicl asseGsmentG and bills. The Lender 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 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 its own funds and the Lender shall not be liable for interest or dividends on such Funds. "�'v'� �°��'�
<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 /> L t�,e�ount���a c�pay 5�a��,assessments,insurance premiums and ground rents as they fall due,
<br /> such excess shall be;at Borrower's option, either pmmptly repaid to Borrower or credited to Borrower on
<br /> monthly installments of Funds. If the amount of the Fands held by Lender shall not be sufficient to pay
<br /> taxes, assessments, insurance premiums and ground rents as they fall due. Bormwer shall pay to Lender
<br />� any amount necessary Lo make up the deficienCy within thirty days after notice from Lender to Borrower
<br /> rr:yuesiing gayment thereof, or Borrower shall, by an increase in monthly installments of Funds required,
<br /> repay the de&ciency within the Fund aceounting period. -
<br /> Upon payment in full of all sums secured by this Mortgage,Lendez shall apply Funds held as a credit
<br />� � x�aii�sL all suina due. .- �
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