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<br /> ' 77- [? � 3876
<br /> To HnvE aNn To HoLD the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br /> and covenants with, the Mortga�ee, tl�at the Mortgagor has good right to seli and convey said premises ;
<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor �vill warrant
<br /> and defend the same against the la�vful claims c�f all persons �vktomsoever. Mortgagor 2iereby relinquishes
<br /> all ribrhts of homestead, ail marital rights, either in taw or in equity, and all other contingent interests of
<br /> fthe Mostgagor in and to the above-describecl, premises.
<br /> Px.ovIDEn ALt�nYs, and t.hese presents are executed and aelivered upon the following conditions, to
<br /> wit : _
<br /> D4ortgagor agrees to pay to the Moi•tgagee, ox• order, the afox•esaicl p2•incipai sum w4th interest from date
<br /> at' the rate of eight and one hal£ per centum (8 . 5 %) �e�r ann�n on tl�e �npa�id balance until paid.
<br /> The said principal and interest shall be payable at the o�ce of rst edera av ngs and Loan
<br /> Association of Lincoln
<br /> in Grand Island , Neb raska , or at such other place as the holder of the note may designate in
<br /> writing delivered or mailed to the AZortgagor, in monthly installments of TW0 HUNDRED FIVE AND 34 / 100 �y
<br /> Dollais ($ 205 . 34 ) , commencing on the first day of September , 19 77 , and epntinuing on
<br /> the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br /> payment of principal and interest shall be due and payable on the first day of August 2002 ; aIl
<br /> i ; according to the terms of a certain promissoty note of even date here�vith executed by the said Mortgagor.
<br /> The Mox•tgagoi• furtlier agr�ees :
<br /> 1. He will pay the indebteclness, as ]iereinbefore provided. Privilege is reserved to px•epay at any
<br /> time, without premium ox• fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> installment, or one hundred doliazs ($100.00) , wh:chever is less. Prepayment in full shall be credited on ,
<br /> the date received. Paztial prepayment, other than on an installment due date, need not be creclited until
<br /> the next following installment due date or thirty days after such prepayment, whichever is earlier_
<br /> � � 2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> ; ' the terms of the note seeured hereby, Mortgagor wil] pay to Mortgagee, as trustee, (under the terms of this
<br /> trust as hereinafter stated ) on the first day of each month until said note is fully paid :
<br /> (a) A sum equal to the ground rents, if any, nest due, plus the premiums that will next become due
<br /> and payable on policies of .fire and other hazard insurance covering the mortgaged property,
<br /> plus taxes aud assessments next due on the mortgaged property (all as estimated by the Mort-
<br /> gagee, and of �vhich the Moi•tgabor is notified ) less all sums already paid therefor divided by
<br /> the uumuer of rnonths to elapse before one rno�ith px•ior to the date �vhen such ground rents,
<br /> ' premiums, taxes and lssessments will become delinquent, such surns to be held b,y Mortgagee
<br /> in trust to pay saici ground renfs, pa•emit�ms, tases ancl speeial assessments.
<br /> ( b ) The aggregate of the amounts payable pur•suant to subparagraph (a) and those payable on the
<br /> note seczared hereUy, shall be paid in a single payment each month, to be applied to the folIow-
<br /> ing items in the order stated : � -
<br /> ( i) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> " �` � ( it ) interest on the note secured hereby ; and �
<br /> ( IIi ) �imortization of the principal of said note. �
<br /> Any deticiency in the amc�unt of any such aggregate monthly payment shall, unless made good
<br /> by tl�e '��ortgagor pt•ioi• to the due date of the next such payrneut, constitute an event of defauit
<br /> under t}ais niortgage. At Mortgagee's optian, Mortgagor will pay � `9ate charge" not exceed-
<br /> ing four per centum (4 % ) of axiy installment �vhen paid more than fifteen ( 15 ) days after the
<br /> due date thei•eof to covei• tlie extrl eapexise in �•olved in handling delinquent payments, but such
<br /> "late cliarge" shall not be payable �ut of tlie procecds of any sale inade to satisfy the indebted-
<br /> ness secw•ed hereby, unless such proceecls are sufticient to discha�•g•e the eutire indebtedness and
<br /> all proper costs and expet.ses secured thereby.
<br /> 3. If the tota.l of the payments made by the Mortgagor under (¢) of paragraph 2 preceding shall
<br /> exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and �
<br /> assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br /> on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> sha.11 be refunded to Mortgagor. If, however, such manthly payments shall not be sufficient to pay such
<br /> items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> � txvstee, any amount necessary to make up the deficiency within thirty ( 30) days after written notice frorn ;
<br /> ' ' the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time "
<br /> the Mortgagor shall tender to the Mortgagee, in accordance �aith the provisions of the note secured
<br /> hereby, full payment bf the entire indebtedness regresented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the aceount of the Mortgagor any credit balance
<br /> , accumulated under the provisions of (¢) of paragraph 2 hereof. If there sha21 be a default under any
<br /> of the provisions of this mortgage reaulting in a public sale of the premisea covered hereby, or if the
<br /> �iortgagee au�uires the property otherwise after uefauit, the iblorfgagee, as tiustee, sliall appIy, at th.e
<br /> time of the commencement of such proceedings, or at the time the property is othei�cvise acquired, the
<br /> amount then remaining to credit the Mortgagor under ( a ) of paragraph 2 preeeding, as a credit on the
<br /> interest accrued and unpaid and the balance to the principal then rema.ining unpaid on said note. ,,,�� . . -, ;
<br /> } 4. ` The lien of this instrument shall remain in full force and effect during any postponement or exten- " ' ;� ` � „ =
<br /> < sion of the time of payment of the indebtedness or any part thereof secured hereby. �r
<br /> �� .
<br /> � 5. He will pay a11 ground rents, taxes, assessments, �cater rates, and other governmentai or rnunici- � � ,
<br /> pal charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this "`�'
<br /> mortgage, or �he debt secured thereby, together with any other taaces or assessments which may be levied � !
<br /> uttder t�ie Iaws of I�i eTc�raska agairxst ttie illox�tgagee, or the legal hoIdex• of saia princi pal note, on account of > . . , . :
<br /> this iiiaebLeilriesb, except wkien �aymeiit fui• all sucii iten'is has tneretofore been rnade under ( a) of para-
<br /> graph 2 hereof, and he �vill promptly deliver the otficial receipts therefox• to the Mortgagee. In default
<br /> thereof the Mortgagee may pay the same.
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