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<br /> To HavE arrD To HoLn the same unto tlie Mortgagee, as hereiii pi•o��ideci. Mortgagor represents to,
<br /> and covenants with, the Mortgagee, that the Mox•t�agor has good riglit to sell and convey said preinises ;
<br /> that they are fx�ee from encumb2�ance, ekcept as hereinothex����ise recited ; that the Mortgagor �vill warrant
<br /> and defend the same against the lawful clairns of all persons �c�homsoever. Mortgagor hereby relin�uishes
<br /> ali rights of homestead, all marital ribhts; either in law or in equity, and all other contingent interests of
<br /> � ' the Mortgagor in and to the above-describea px•emises.
<br /> 1'ftovinED A[.wnYs, and these presents are executed and delivered upon the following conditions, to
<br /> wit : ' _
<br /> Mortgagor �tgrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from dlte
<br /> at #he rate af eight and one half-- per centum ( 8 • 5 % ) e,r ann n the np id balance until paid.
<br /> The said rinci al and interest shall be ayable at the ofT'ice of �lrst �e�eral Sav�ngs and Loan
<br /> � p p p Association of Lincoln
<br /> � in Lincoln , Nebraska , or at such other piace as the holder of the note rnay designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly instailments of �0 HUNDRED THIRTY AND 67 / 100
<br /> � Dollars ($ 230 . 67 ) , commencing on tl�e first day of September , 19 77 , and continuing on
<br /> � the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the finat
<br /> , � payment of principal and inter•est shnll be due and payable on the fir•st day of Au�ust 2007 ; all
<br /> according to the terms of a certain pr�missory note of even date herewith executed by the said Mortgagor.
<br /> � The Moi�tgagor further agrees :
<br /> �!• 1. He will pay the iiidebteciness, as herei�ibefore E�rovided. Privilege is reserved to prepay at any
<br /> , ;� time, without premium or fee, the etttire indebtedness or any part thereof not less than the amount of one
<br /> i installment , or one hundred dollars ($100 .00), whichever is less . Prepayrnent in full shall be credited on
<br /> the date received. Paxtial prepayment, other than on an installment due date, need not be credited until
<br /> the next following instailment due date or thirty days after such prepayment , whichever is eaziier.
<br /> 2. Together with, and in addition to, the monthly payments of principal and interest payable untier
<br /> the terms of the noie secured hereby, Mortgagor �vill pay to Mortgagee, as trustee, ( undex• the terms of tliis
<br /> trust as hereinafter stated) on the first day of each month until said note is fully paid :
<br /> (ci) A sum equal to the ground rents, if any, �iext 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 /> pius taxes ar�d assessrnents next due on the mox•tgaged property ( all as estimated by the Mort-
<br /> gagee, aiid of ���hich the Mortg=agor is notified ) less all sums aiready paid therefor divided by
<br /> the numbei• of months to elapse befoi•e oiie �noiit}t prior to the clate �vhen such bround rents,
<br /> premiums, taxes and assessments �vill become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay� said ground rents, premiums, taxes and special assessments.
<br /> ( b ) The aggregate of the nmawits payaUle pursuant to subparagraph (a ) and those payable on the
<br /> note secured hereby, shall be paid in a single pa��ment each month, to be applied to the foliow-
<br /> ing items in the order stnted :
<br /> ( c ) gx•ound rents, taxes, assessments, fire a�id other ]iazard insuranee premiums ;
<br /> � ( II ) interest on the note secured hereby ; and . � �.
<br /> ( III ) amortization of the principal of said note.
<br /> Any deficienc,y in the amount of an�r suc}i aggre�;ate montlily pa,yinent shall, unless made good
<br /> by the Mortgagor prior to the due date of the next suclt payment, constitute an event of default
<br /> under this mortgage_ At PZortgagee's option, Mortga�or will pay a "late charge" not exceed-
<br /> ing four per centum (� ?o ) of any iustall n�ent �vhen paid more than fifteen ( 15 ) days after the
<br /> due date thereoP to cover the extrn expense invoh�ed in handling delinquent payments, but such
<br /> ti `9ate charge" shall not be payable out of tlie proceeds of any sale made to satisfy the indebted-
<br /> ness secured hcreby, unless such proceeds are sutficient to discharge the entire indebtedness and
<br /> ali 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 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 Mortgagar 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 Mortbagee, as
<br /> trustee, any amount necessary to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortgagee sta.ting the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shali tender to the Mortgagee, in accordance �vith the provisions of the note secured
<br /> hereby; fuli payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shail,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> ' accumulate3 under the procisions of ( �) of paragraph ? hereof. if t.here shall be a default under anY
<br /> of the provisions of this mortgage resulting in a public sale of the premises covereci hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the 1�lortgagee, as trustee, sh211 apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is other�vise 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 Che balance to the principal then remaining unpaid on said note. .,;E,wl, - . ; .
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponem�nt or eacten- " �,y w�w
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. ` ` �`_ -
<br /> � 5. He will pay all ground s•ents, taxes, assessments, water rates, and other governmental or munici- �
<br /> pal charges, fines, or impusitiuns, te��ied u�on s�id premises ar.d that he �3ri1? paY all tar�s levied upon this � � `
<br /> mortgage, ox: �lie aebt secux�cl thereby-, togather tirith ang otY:er tases er assessments «�hi�•h ma,y be levied
<br /> under thelaws of Nebraska against the Mortgagee, or the legal holder of said principai note, on account of
<br /> this indebtedness; except when payment for all such items has theretofore been made under (a) of para- "
<br /> grapli 2 lie3eof, and he will pror.iptly� dclircr thc efficial receipts theref�r to Y.he Mortgagee. In default
<br /> thereof the Mortgagee may pay the same.
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