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<br /> IIVDIVIDUAL '
<br /> DUE OIY SALE
<br /> �R� OPTIONAL FUTURE ADVANCES
<br /> �� Si4VINGS FUND
<br /> . . ���N..� FoaM,No.720 .
<br /> � — -- �
<br /> Loan Number_ 34603_____ 188 1
<br /> r�.. . .: . .. . . � . . ... . . . . . TY��----�-B.a��h �
<br /> � �7„ �[)522"7
<br /> 'r,' MORTGAG E
<br /> � THIS MORTGAGE, made and executed this ...... �� .:._..... day of _...scf'�� _.6P....._ A D.,
<br /> 19_7.___,between the Mort agor, Ore G Thom�son and Pamela K.._Thompson, husband and wife
<br /> ^ 7 g . •----�-- '
<br /> � : ,7ointly,and each in their own right _____,.. , --..,.,,,_
<br /> �----...- - --•--��-- . _. .. .
<br /> of ..:Grand_:Island , :: County of ...,Hall ,_,..,State of...Nebraska hereinafter referred �
<br /> . -----���
<br /> to as the Bonower, and the Mortgagee, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> I.INCOLN, 1235 "N" Street, Lincoln, Nebraska 68501, its successors and assigns, hereinafter refe:red to
<br /> as Lender.
<br /> ? WiTrrEssETx: That t}� said Borrower for And in consideration of the sum of ..T..��.��,.THOUSAND
<br /> ' SIX HUNDRED AND N01 �0--------------------------- , 21 600.00 -
<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 ...............Ha11 , State of Nebraska:
<br /> Lot Sever_ (7), in B1ock Eight (8), of George Loan's Subdivision to Grand Island ,
<br /> HaI1 County, Nebraska.
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<br /> TocETx�a 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 /> d Mortgage is on a leasehold) are herein referred to as the "Property".
<br /> 3 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 /> x ' 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 /> PaovrnEn ALWAYS, and these presents are executed and delivered upon the following conditions,agree-
<br /> ments and obligations of the Borrower, to-wit:
<br /> � The Boreower agrees to pay to the Lender, or order, the principal sum of ..T.�� ONE THOUSAND_,_... '
<br /> . ; �----..._.. ..
<br /> ,` .._.$�X--HUPiI)RED,AI�ID._NO/100---.-:----_---------.-,----.................Dollars (US �--21.,600.00...---.....------�
<br /> payable as provided in a note executed and delivered,concurrently herewith,the final payment of principal,
<br /> , ' if not sooner paid,on tixe._.._..__J.St............. day of ...-----.Q�tQb.e.x .-.----...__-----, 1�..2092
<br /> UxiFoanz CovExnrrTs. Borrower and Lender covenant and agree as foliows:
<br /> i 1. Payment of Principal�d Interest. Bon•ower shall promptly pay when due the principal of and in-
<br /> terest on the indebtedness evidenced by the Note, prcpayment and late charges as provided in t.he Note,
<br /> � and the principal of and interest on any Future Advances secured by this Mortgage.
<br /> 2. Fuads foz Taxes and Insurance. Subject to Lender's option under paragraphs 4 and 5 hereof,Bor-
<br /> mwer 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 txxes and
<br /> assessments which may attain priority over this 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 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, Lender shali apply the Funds
<br /> to pay said taxes,assessments, insurance premiums and ground rents. Lender shall make no charge for so
<br />� holding and applying the Funds or verifying and compiling said as�escmenis and billa. The I.ender ghall
<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#or the sums secured by this Mortgage. The Borrower agrees that the Funds may be heid b,y ti�e
<br /> Lender and commingled with other funds and the Lender's own funds and the Lender may pay such items
<br /> fmm its own funds and the Lender shalI not be liable for interest or dividends on such Funds. � � � "*"'•
<br /> . y ..
<br /> I£the amount of the Funds held by I.ender,together with the future monthly installments of Funds � �"`���"
<br /> payable prior to the due dates of tases, assessments: insurance premiums and ground rents, shall exceed �"
<br /> �� the amount reqaired,to pay said ta$es,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 �:�c;�,
<br /> monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br /> taxes,assessments, insurance bremiume and ground rents as thev fall due. Bormwer shall pay to Lender
<br />� any'amount'necessary to make up the deficiency within thirty days after notice from Lender to $orrower
<br /> requesting payment'thereof, or 13orrower sha11, by an increase in monthly ansiallments oY F'unds required,
<br /> repay the deficiency within the Fund accounting period.
<br /> Upon payment in full o#all sums secured by this Mortgage,Lender shali apply Funds held as a credit
<br /> against alt sums due.
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