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<br /> TO HaVE errD To HoLn the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br /> and covenants with, the Mortgagee, that the Mortgagor has good right to seil and convey said premises ;
<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawfui claims of all per•sons whomsoever. Mortgagor hereby relinquishes
<br /> alt rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br /> �. � the Mortgagor in and to the above-described premises.
<br /> PROVIDED ALWAYS, and these presentS are executed and delivered upon the following conditions, to '
<br /> � � wit .
<br /> . Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principai sum with interest from date
<br /> i at the rate of eight and one ha lf per centum ( 8 , 5 % ) x Ann n the unpaid balatrce until paid.
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<br /> C�'J �irst �'e �eral Saving and Loan
<br /> p The said principal and interest shall be payable at the of�'ice of Associat ion of Linco�n
<br /> �",�,�" in Grand Is land , Nebraska , or at such other place as the holder of the note may designate in
<br /> � writing delivered or rnailed to the Nlortg�agor, in monthly installments of TWO HUNDRED NINETY FOUR AND 50 / 100
<br /> I'� Doliars ($ 294 . 50 ) , commencing on the first day of September , 19 7q , and continuing on
<br /> � the first day of each month tliereafter until said note is fully paid, except that, if not sooner paid, the final
<br /> pay ment of principal and interest shall be due and payable on the first day of August 2007 : �»
<br /> according to the terms of a certain promisso2y note of even date herewith executed by the said Mortgagor.
<br /> The Mortgagor further agrees :
<br /> 1. I-Ie will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> installment, or one hundred dollazs ($100.00), whichever is less . Prepayment in full shail be credited on
<br /> the date received. Partial prepayment, other than on an installment due date, neerl not be credited hntil
<br /> ' the next following installment due date or thirty days after such prepayment , whichever is eazlier.
<br /> 2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> the terms of the note secured hereby, NYortgagor will pay to Mortgagee, as trustee, ( under the terms of this
<br /> trust as hereinafter stated) ou the first day of each month until said note is fully paid :
<br /> (a) A sum equal to the ground rents, if any, next due, pius the premiums that wi11 next become due
<br /> and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br /> plus taxes and assessments next due on the moi�tgaged property ( all as estimated by the Mort-
<br /> F gagee, and of which the Mortgagor is notifted ) less atl sums already paid thereior divided by
<br /> the number of months to elapse before one month prior to the date when such ground rents,
<br /> premiums, taxes and assessments «�ill become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay said ground rents , premiums, taxes and special assessments.
<br /> i ( b ) The aggregate of the amounts payable pursuant to subparagraph ( a ) and those payable on the
<br /> note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ; ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> ( i1 ) interest on the note secured hereby ; and
<br /> ( tII ) amortization of the principal of saici note.
<br /> Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br /> by the Mortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At DZortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br /> ing four per centum (4 % ) of any install ment �vhen paid more than fifteen ( 15 ) days after the
<br /> due date thereof to covex• the extx•a expense involved in handling delinquent pa,yments, but such
<br /> "]ate charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br /> all proper costs and expenses secured thereby.
<br /> 3. If the total 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 /> assessmenta 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 /> ahall be refunded to i4fortgagor. If, however, such monthly payments shali not be sufficient to pay such
<br /> itetns when the same shall become due and payable, then the Mortga.gor shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to make up the deficiency within thii�ty ( 30 ) days after written notice from
<br /> the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> ' the it2ortgagor shall tender to the Mortgagee, in accordance �i�ith the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the provisions oP ( a) of paragraph 2 hereof. If there shali be a default under any
<br /> • of the provisions of this mortgage resulting in a public sale of the premises eovererl hereby, or if the
<br /> 1�Iortgagee &c�uires tlie property othen;-ise aft�r default, ±he '.1Rortgagee, as trustec, shall apply, at the
<br /> time of the commeneement of such proceedings, or at the time the property is otherwise acquired, the
<br /> amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br /> ; interest accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- - -- h � -. ~ �.'- �`'
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. � �
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<br /> 5. He wi11 pay all ground rents, taxes, assessments, water rates, anci other governmental or munici- � .�
<br /> paY charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this w�C`
<br /> mortgage, or the debt secured thereby, together with any other taxes or assessments which m&Y be levied `
<br /> under the lawa of itiek+raska against the bTortgagee, ar t.e legaI ro:der of said grir.cigal nete, on ftccount of
<br /> , this indebte3nesa, eacept wheii pay�ment for all such it�ms has theretofore becn made under { a ) of para-
<br /> graph 2 hereof, and he will prompt2y deliver the official reeeipts therefor to the b�ortgagee. In default
<br /> thereof the Mortgagee may pay the same.
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