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INDIVIDUAL DUE ON SALE OPTIONAL FUTURE ADVANCES SAYINGS FUND FoeH No. 726.479 Loan fvuniber_ 41728 ___-__188 _- _ 1 _- Troe s.n~cn 79- ~ Ci 4 2'7 ~ M O R T G A G E TFII3 MORTGAGE, made and executed this ___..3--------------.-_.-. day of .._..J~t1,Y.._-___......___.. A.D., 19.-"t.9..., between the Mortgagor, -----Steven_M,-_Mason,-.a_ single..Person-....---.._....-...---------.--.__._.._. of ... Grand Island ,County of __... Hai] .__-_-------------- State of _.-....Nebraska.., hereinafter referred to as the Borrower, and the Mortgagee, FIRST FEDERAL SAt'INGS AND LOAN ASSOCIATION OF LINCOLN, 1235 "N" Street, Lincoln, Nebraska 08501, its successors and assigns, hereinafter referred to as Lender. Wt'rxissertt: That the said Borrower for and in consideration of the sum of ....TWI~NxX...TWt? .............. ..THOUSAND-,AND-NO(100-.----------------------------.--Dollars (liSS_22-.-QQQ,p9------.---------_) paid by said Lender, does hereby mortgage, grant and convey to Lender, its successors and assigns; the following described property located in the County of .-_..__Hall___ ................... State of Nebraska: The Northerly Forty-eight feet {NGS") of Let Ten {10) in Block Nine (9} in Gilbert's Addition to Lhe City of Grand Island Aall County, Nebraska TocsTxES with all the improvements new or hereafter erected on the property, and all easements, rights, appurtenances, rents, ro_r-altie;, mineral, oil and gas rights and profits, water, water rights, and water stock, and aII fixtures now or hereafter attached #o the property, all of which, including replace- ments and additions thereto, shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together with said property (or the leasehold estate in the event this I~#ortgage is on a leasehold) are herein referred to as the "Property". Borrower rnvenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and rnnvey the Property, that the Property is unencumbered, and that Borrower Kill warrant and defend generally the title to the Property against all clai*_ns and demands, subject to any easements and restrictions listed in a schedcle of exceptions to coverage in any title insurance policy in- suring Lender's interest in the Property, or {2} attorney's opinion of title from abstract of title certified by bonded abstracter. Psovmsp Atweys, and these presents are executed and delivered upon the following conditions, agree- ments and obligations of the Borrower, to-Kit: The Borrower agrees to pay to the Lender, or order, the principal sum of ..TWEBiTY..Ti"IQ..THIHISAHD..- .~iR.2IQ/-iflfl--------`~-'--'~~-----cc-r..--_---r~ollars (l'S g-3,2,QOD.,_QO - ._... ) payable as provided in a note executed and delivered, concurrently herewith. the final payment of principal, if nest sooner paid, on the _...~st...__- .... day of . ----.d'~-3'. _.. - .- -_ - _.. , 155-? U:+rrFOSt{t CoL*r.{*rrs. Borrower and bender covenant and agree as follows: i. Payment of Principal sad Interest. Borrower shall promptls° pay when due the principal of and in- terest on the indebtedness ecridenced by the lore, prepayment and late charges as pmv"ded an the Note, and the principal of and interest an any Future Advances secured by this \tartgage. 2 Funds for Ymces mmd Insurance, Subject to Lender's option under paragraphs ~ and 5 hereof, Bor- rower shall gay to Lender on the day manthiy installments of principal and inieresi are payable under ttt Note, until the ?vote is paid in full, a sum (herein "Funds") equal to one-ta-elfth of fhe yearly taxes and assessments which may attain priority over this 1#ortgage, and. ground rents on the Proper>', if any plus one-twelfth of yearly premium installment far hazard insurance, plug. one-twelfth of yearly premium in- stallments €or mortgage ittsuaance, i# any. all as reasonably estimated initially and from time to iirne by Lender tsn the basis of assesQnents and bilt~ and reasanable estimates thereof, Lender snail apply the Funds to pay said rases, assessments, insurance premiums and grannd rent. Lender shall make no charge for sa baldiesg and applvtng the Funds ar verifying and compiling said assessments and bills. The Lender shall give to the Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funas was made. 'The Funds are pledged as additional security #or the arms sxured by this Mortgage. The Borrower agrees that Lhe Funds may be he-d by the Letrder and commingled with other funds and the Lender's own funds and the Lender may pay such items from its own funds and the Leader shaII not be liable for interest or dividends on such Funds. I# the amount of the P`trads held by Lender, together with the future monthly installments of Funds . payable pryer to the dae dates of tazee, assessments, insurance premiums and ground rents, shall exceed the amrnrat required to said tam, assessments, insurance premiums and ground rents as they fall due, such esoess shall-be, at Sarmwer's option, either promptly repaid to Borrower or credited to Borrower on moat2u`y installments of Funds. Z# Bre amount of the Funds held by Lender shall not be sufficient to pay taxes, meats, iastrrance premiums and ground rents as they fall due; Harrower shall pay to Lender any amount nece~sary.to make up the deficiency within thirty days after notice from Lender to Borrower naquesting payment thereof, or Borrower shall, by an increase in monthly installments of Funds required, r'epaY the deScieney within the Fund acxoun~ng period. Upon payment in full of all sums seeared by this Mortgage, Lender shall apply Funds held as a credit against all sums due.