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<br /> To HavE nxn To HoLn the same unto the Mortgagee, as hecein provided. blortgagor represents to,
<br /> aud covenants with, the Mortgagee, tliat the Mortgagor has ge�oci riglit to sell and convey said premises ;
<br /> ' that they are free frozn encumbrance, except as hereinotherwise recited ; that the Mortgagor wil! �varrant
<br /> and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> (� all rights of`homestead, all marital rights, either inlaw or in equity, and all other contingent interests of
<br /> f . the Mortgagor in and to the above-descrii�ed premises.
<br /> � � � . � � � PRUVIDED ALWAYS, aIId t1103e pl'0S0ritS STC CXBCllteC� and� � delivered � upon the � following conditions, � to .
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<br /> wit :
<br /> �1 `Mortgagor agrees �to pay to the Mortgagee, or order, the aforesaid px•incipal sum with interest from date
<br /> at the rate ofeight ar►d one half per centum ( 8 . 5 io) n n t! e n r id balan ntil Z�aid.
<br /> � Ttie said principal and intei-est shall be payable at he oft'ice of �r�� ��era� � aFv�ngs an� �oan
<br /> Z� �I Association of Lincoln
<br /> +� in Lincoln , Nebraska , or at sucli utkier place as the holder of the note may designate in
<br /> p writing delivered or mailed to the Mortgagor, in monthly installments of TT�70 HUNDRED SEVENTY SIX AND 81 / 100
<br /> ^ Doilars ($ 2 �6 • $ 1 ) , commencing on the first day of October , 19 77 , and continuing on
<br /> the first day of each month thereafter until said notie,is� fully paid, except that, if not sooner paid, the final
<br /> p,,; payment of principal and interest shall be due and i�ayabie on the tirst day of September 2807 ; all
<br /> ti, according to the terms of a cei•tain px•omissoi•y note of even date Jiei�emith executed by the said Moz•tgagor.
<br /> The Mortgagor further agrees :
<br /> 1 . I-Ie will pay the indebtedness, as hereinbefore provided . Pi•ivilege is reserved to prepay at any�
<br /> ` �' time, without premium or fee, the entire indeutedness or any part thereof not less than the amount of one
<br /> installment, or one hundred dollars ($100 .00) , whichever is less . Prepayment in full shali b� credited on
<br /> the date received. Partial 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 earlier.
<br /> 2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> the terms of the note secured hei•eby, Mortoagor �vill pay to 1Nlortgagee, as trustee, ( unaer• the terms of tliis
<br /> trust as hereinafter stated ) on the first day of each month until said note is fully paid :
<br /> (a.) A sum equai to the ground rents, if any, next due, plus the premiums that will next become due
<br /> and payable on policies of fire and other h�zard insurance covering the mortgaged property,
<br /> plus taxes and assessments next due on the mortgaged property ( all as estimated by the Mort-
<br /> gagee, and af �vhich the Mortgagor is notified ) less all sums already paid therefor divided by
<br /> the number of months to elapse before arie month prior to the date when such ground rents,
<br /> premiums, taxes and assessments ���ill become �lelinquent, such svms to be held b,v Mortgagee
<br /> � in trust to pay said gi•ound rents, prnmiums, taxes and special assessments.
<br /> t ( b ) The ag�•egate of the amounts payable pursuant to subparagraph ( a) and those payable on the
<br /> note secured hei-eby, shali be paid i,n a singie pa,yment each inonth, to be applied to the foilo�v-
<br /> ing items iii the order stated :
<br /> ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> s (n ) interest on the note secured hereby ; and
<br /> � � ( i1i ) amortization of the principa] of said note.
<br /> Any deficiency iii the atnoi� nt of <iny such aggregate monthly payment shall, unless made good
<br /> ; by the Max�tgagor prior to tlie due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, nSortgagor will pay a "late charge" not exceed-
<br /> ing four pei• centum ( 4 % ) of any iristali xnent �vhe�i paid more than fifteen ( 15) days after the
<br /> due date thereof to cover the extra expense involved in handling de]inquent payments, but such
<br /> "late charge" shall not be payable out of the pruceeds of any sale rnade to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds ai•e sufficieiit to discharge the entire indebtedness and
<br /> ail proper costs and expenses secured thereby. «
<br /> � � 3. If the total of the payments made by the Mortgagor under (a) of para�,*raph 2 preceding shatl
<br /> exceed the amount of payments actually made by the Mortgagee, as trustee, for ground xents, taxes and
<br /> assessments or insurance premiums, as the case may be, such exeess 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 /> shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br /> items when the same shail become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to make up the deficiency within thirty ( 30) days after �ti�ritten 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 seeu�•ed
<br /> hereby, fuIl 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 (d) of paragraph 2 hereof. If there shall be a default under any
<br /> ' of the provisioms of tliis mortgage resulting in a public sale of the preuiise� 4o��arecl 3iereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the :�Sortgagee, as ti•ustee, sha11 apply, at the
<br /> time of the commencement of such proeeedings, 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 acerued and unpaid and the balance to the principal then remaining unpaid on said note. �^r*�� '' ' , �
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- �;► K
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. �'' ,
<br /> � ` 5. He wi11 pay all ground rents, taxes, assessments, �c�ater rates, and other governmental or munici- �
<br /> pal charges, fines, or impositions, levied ugon said premises and that he will pay all taxes levied upon this � '
<br /> niui tgage, c�r tiie 3eLt secui•�d tiherel�y, togetIicr with any uther taxes or assessruetits �aiiich iiiay Le levied
<br /> ut�cier tYie laws uf Ne+iraska agaiust the iYIurtga�ee, ur Liie iegxi lioliter of said pri �uipal iwle, un account of „
<br /> this indebtedness, exeept when payment for ali such items has $heretofore been made under (d ) of para-
<br /> graph 2 hereof, and he will promptly deliver the ofi'icial receipts therefor to the Mortgagee. In default
<br /> , � thereof the bZurtgagee may pay the same.
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