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<br /> 77- UU4932
<br /> TO HavE aNA TO HOLD the same unto the Mortgagee, as herein pi•ovided. Mortgagor represents to,
<br /> and covenants witli, the Mortgagee, that the Mortgagor has gooct right to scll and convey said �remises ;
<br /> thatthey are free from encumbrance, except as hereinatherwise recited ; that the Mortgagor will warrant
<br /> and defend the same ugainst the lawful claims of all persons whomsoever. 1Vlortgagor hereby relinquishes
<br /> all rights of homestead, all marital rights, either in ia�v or in equity, and all otk� er contingent interests of
<br /> � the Mortgagor in and to the above-described premises.
<br /> PROVIDED ALWAYS, and these presents are executed and delivex•ed upon the following conditions, to ,
<br /> � wit :
<br /> ' Mm•tgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> ` at the rate of Eigk�t artd One-half per centum ( $'�z %a ) per annum on the unpaid balanee until paid.
<br /> : ; The said principal and interest shall Ue payable at the ofTice of. WESTII2N SECIR2=TIES COMPANY
<br /> in Omaha � Nebrdsk3 , or at such other place as the holder of the note may designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of Three Hundred Five and 68/100—
<br /> Dollars ($ 305 . 6 $ ) , commencing on the first day of OCtober , I9 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 final
<br /> i ` payment of principal and interest shall be due nnd payable on the first day of September , 2007 ; all
<br /> according to ttie terms of a cei�tain promissory note of even date lie2•ewith executed by tke said Mortgagor.
<br /> , �; The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, as hereinbefo�•e provided. I'rivilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtedness or an,y part thereof not less than the amount of one
<br /> installment , or one hundred dollars ($100.00), whichever is less . Prepayment in full shall be credited on
<br /> the datexeceived. 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 eaztier.
<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, Mortgagor will pay to Mortgagee, as trustee, ( uncier 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, next due, plus the premiums that will next become due
<br /> and payable on policies of fire and other hazard insuz•anee covering the mortgaged property,
<br /> pius taxes and assessments next due on the rnortgaged property ( all as estimated by the Mort-
<br /> ; ; gagee, and of w�hicli the Mortgagor is notified ) less all sums ali•eady paid therefor divided by
<br /> � the numbe2� of months to elapse before one u�onth prior to the date ���hen such ground rents,
<br /> premiums, taxes and assessments wiil become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay slid gromid i•ents, premiums, taxes and special assessments.
<br /> ( b ) The aggregate of the amoiu�ts payable pursuant to subparagraph (a) and those payable on the
<br /> note secured hereby, shall be paid iti a single payment each month, to be applied to the follow-
<br /> F ing items in the order stated :
<br /> ( t ) ground 3•ents, taxes, assessments, fire and other liazard insurance premiums ;
<br /> ' ( u ) interest mi the note secured hereby ; and
<br /> ' ( ui )�; amortization of the principal of said note. . - : :
<br /> Any deficiency in theamount of any s�ach aggregate monthly payment sllail, unless made good
<br /> by the ➢Z�rtgagor prior to the due date of the next such ..payment, constitute;an event of default
<br /> under tlris �n6rtgage. At Mortg�gee's option, Mortgagor will pay ,1 "late charge" not exceed-
<br /> ing four per eentum (4% ) of any installment when ��aid }��ore than fifteen ( 15) days after the
<br /> due date thereof to cover the extra expense involved in handlin� delinquent payments, but such
<br /> "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> l ness secui•ed hereby, unless such proceeds ai•e sufticient to discharge the entire indebtedness and
<br /> ail proper costs aud 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 rnade by the Mortgagee, as trustee, for ground rents, taxes and
<br /> assessments or insurance premiums, as the case may lie, '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 /> shail be refunded to Mortgagor. If, however, such monthly payments shail not be sufT'icient to pay such
<br /> items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> tr•ustee, any amount necessary to make up the deficiency within thirty ( 30) days after ��ritten notice from
<br /> the Mortgagee statingthe amount�of the deficiency, which notice may be given by maiL If at sny time
<br /> � the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of ttie entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount of such indeUtedness, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisiona o:i ihis mc�rtgage resultiiig in a puUtic sale ol tlie preiiiises ��v�r��.i 2iei•eby, or if tlie
<br /> Mortgagee acquires the property otherwise after default, tlie hZortgagee, as trustee, sliall apply, at the
<br /> time of the commencement of such prqeeedings, or at the time the property is otherwise aequired, 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.
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<br /> 4. The lien of tliis insti-ument shall remain in full force and eifect during any postponement or exten- �:: ' . •
<br /> ; sion of the time ofpayrnent of the indebtedness or any part thereof secured hereby. � „�
<br /> � 5. He will pay all ground rents, taxes, nssessments, water rates, and other governmental or munici- �`
<br /> pal charges, fuies, or impositions, levied upan said premises and' that he will pay all taxes levied upon this
<br />�, mortgage, or the debt secured thereUy, together with any other taxea ur assessixieiii,� �viiicii iYxay be iavieu � �
<br /> under the laws of Nebraska a�ainst ihe iYIortgagee, or the legal holder oi saici principai iiuLe, vn accuuxit oi {y;,�,-
<br /> this indebtedness, except >vhen payment for all such itetns has theretofore been rnade under (a) of para- - �
<br /> graph 2 hereof, and he will promptly deliver the official receipts therefor to the DZortgagee. In default
<br /> , thereof the Morigagee tr�ay �wy Lhe �aiiie.
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