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<br /> To HavE nxa To HoLn the same unto the 1Vlortga�ee, as hei•ein px•ovided. Mortgagor represents to,
<br /> and covenantc warh, '*hs _vaorzgagec, �l.at the ::.ortgagor has �o:.�l �;ght ti; su11 and convey said premises ;
<br /> that they are free from encumbrance, except as hereinother�vise recited ; that the Mortgagor �vill warrant
<br /> and defend the same against the la�vful claims of nll persons whomsoever. Mortgagor hereby r•elinc�uishes
<br /> all rights of homestead, all marital rights, either in la�v or in equity, and all other contingent interests of
<br /> r the Mortgagor in and to the above descr ibed px emises '
<br /> � ac, � n ` }�.7 nn .:� ll�liynrnfl ; �
<br /> YKVVIDY:L 1iLVvfiz��� uiau �taca'Z Eii:c^5vait.� ... _ _ lil!?R the following conditions ti0
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<br /> Mortgagor agrees to pay to tlie Mortgagee, oi• order, the aforesaid principal sum with interest from date
<br /> at the rate of eight and one half l�er centum (8 . 5 % ) per annum on the unpaid balance until pxid.
<br /> The said principal and interest shall be payable at the o!�:ee oi First Federal Savings and Loan
<br /> AssqcihaC�on ��. Lin€oln
<br /> in Grand Island , Nebraska , ol at sucti otlzer I.t::ce as i te oi er o ne no e may designate in
<br /> , writir.gdelivered or mailed to the Mortgagor, in monthly instalfinentsof ONE HITNDRED NINETY SIX AND 08/ 100--
<br /> T�ollar� (,R 196 . 08 a . commencing on the first day of September , 19 77 , and continuing on
<br /> the first day of each month thereaftez• until said note is fully paid, except t}�at, if no 't sooner paid, the fin:l
<br /> �>ayinent of pi•i;;cipat ancl intere�: sh;!1 b� de�e az.�? payable on the fit:st day of August 2007 ; all �
<br /> according to the terms of a certaiu pz•omissory note of even date here�vith executed by the said Mortgagor. --
<br /> The Mox•tgagox• further agr-ees :
<br /> 1 . He wiil pay the inciebtedness, as liereinbefoi•e provided. Privilege is reserved to px•epay at an,y
<br /> ` time, without premium or fee, the entire inde�teilness or any part thereof not less than th� amount of one
<br /> installment, or one hundred dollazs ($ 100 .00) , whichever is less. Prepayment in full shall be credited on
<br /> the date received. Partial prepayment, other than on an installment due date, need not be credited until
<br /> the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br /> 2. Ta6�thar ::�ith, an�? ir ael�ition to; the mouthly nayments of principal and interest payable under ; i
<br /> the terms of the note secured hereby, 14iortgagor wiil pay to Mortgagee, as trustee, ( undei• the terms of this
<br /> trust as hereinafter stateci ) on the first day of each month until said note is fully paid : �
<br /> (a) A sum equai to tlie ground rents, if any, next due, plus tlie pY•emiums that �vill nexi ioecome due
<br /> � and payable on policies of f9re and other hazard insurance covering the mortgaged property,
<br /> ' plus taxes �ud assessments next due o�i t}ie mortgaged property (all as estimated by the Mort-
<br /> t ` gagee, and of w�hich the Mortgagor is notified ) less ali suins already paid therefor 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 �vil] become delinquent, such sums to be held by Mortgagee
<br /> s in trust to pay s�id ground i•ents, premiums, taxes and special assessments.
<br /> : j ( b ) The aggregate of the amowits payabie pui•suant to subpaz-agraph (a ) and those payable on the
<br /> r note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ; ing items iu the order stated :
<br /> ( 1 ) gx•ound rents, taxes, assessments, fire and other ]�azai-d insurance premiuma ;
<br /> ( Ic ) interest on the note secured hei•eby ; and
<br /> � ( II: � �.1Ta^vl'�3"Ln�`,iv7-i Ui iiiti ji17llC1p8t OI SAICi IlOLC. . � . . � , � .
<br /> '' ' Any deficiency in the amounti of any such aggregate monthly payment shall, unless made good
<br /> , � by the Mortgagor prior to the due date of the next such pa,yment, constitute an event of default '
<br /> under this mortgage. At Mortga�;ee 's option, D4ortgng•or will pay a "late charge” not exceed-
<br /> ing fo,�r ;;. r centum f d ?ic ) of atY,y i �istali ment �ti•hen paid more than fifteen ( 15 ) days after the
<br /> 1 due date thereof to cover the extra exj.�eiise involved in handling delinquent paymenis, pui sucii
<br /> '' "late charge" shall not be payaUle out of the pi•oceeds 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 (a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actuaily 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 aubsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mortgagor. If, however, such monthly 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 /> trustee, a.ny amount necessaiy to make up the deficiency within thirty ( 30) days after w2•itten notice from
<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 with 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 of (a) of paragraph 2 herrnof. If there shall be a default vnder any
<br /> of the provisions af this mortgage resulting in a nuhlic .a,le of the nrAmi�ea eo=�er� he.•�by, c�r i .` t�e
<br />— IVIortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shal] apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is othertivise acquired, the
<br /> amount then remainins 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 uapaid on said note. ., ,J
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<br /> 4. The lien of this instrument shail remain in full force and efFect durii�g any postponeiuent or exten- � a�t ',}„ `
<br /> i sion of the time of payment of the indebtedness or any part thereof secured hereby. '
<br /> 1 5. He wili pay all gz•ound rents, taxes,, assessments, water rates, and other governmental or munici-
<br /> pal cha�ges, fines; or impositions, levied upon said premises and that he witl pay all taxes levied upon this �
<br /> mortgage, or the debt secured thereby, �ogether �c-ith any other taxes or as�essments ��hich may he ]ev9ed
<br /> under the taws of Nebraska again5t the Mortgagee, or the lega) holcier of sai� I�rinriPal not�, on acrount of
<br /> this indebtedness, except �vhen payment for al] such items has theretofore heen made under (a ) of para- '
<br /> graph 2 hereof; and he �vill promptly deliver tlie official receipts therefor to the b3ortgagee. In default
<br /> thereof the Mortgagee ma,v pay the same.
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