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<br /> g 77- U0609�
<br /> To HwvE elva To HOLn the same unto the Mortgagc:e, as herei n provided. Mortgsgor repres.�nts to,
<br /> and covenants with, the Mortgagee, #hat the MorLgagor has gcx�d rig}�t to sell and convey said premises ;
<br /> that they are free from encumbrance, except as hereinotherti� ise recited ; that the Mortgagor will warrant
<br /> sad defend the same against the Iawful daims of all persons whomscever. Mortgagor hereby relinquishes �
<br /> al1 rights ot homestead, all marital rights, either in law or in equity, and all other contingent intei•ests of
<br /> ` the Mort�a�or in aad to the above-described premises_
<br /> PROVIDED ALWAYS, and these presents sre executed and delivered upon the following conditiona, to
<br /> �vlt :
<br /> Mort�or a�rees to pay to the Mortgagee, or order, the afore�aid principal sum with interest from date
<br /> st the rate of eight and one half-- per centum ( 8 . 5 % ) �r ann m on th� e �np�id bslanc�e until paid .
<br /> Thesaid rinci andinterestshallbe rBt �edera av nge an Loan Association
<br /> p pal payable at the office of of Lincoln
<br /> jp Lincoln . Nebraska ' , or at such other place as the holder of the note may designate in
<br /> wistlaY delivered or mailed to the Mortgagor, in monthly installments ofTiJO HUNDRED TWENTY NINE AND 14 / 100
<br /> Dollam ($ 229 . 14 ) , c:ommencing on tiie first day of December , 1977 . and continuing on
<br /> the first day of each month tl�ei•eatter until said note is fully paid, except that, if not sooner paid, the finai
<br /> payfnent of principal and interest shall V.�e due and payable on the first day of November 2007 ; a11
<br /> aceording to the terms of a certain promissory note of even date herewith ezecuted by the said Mortgagor.
<br /> The Mortga�or further agrees :
<br /> 1. He will psy the indebtedness, ss hereinbefore provided. Privilege is reserved to prepay at any
<br /> tist►e, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> installment, or one hundred dollars (a100 .00), whichever is less. Prepayment in full chall be credited on
<br /> the date received. Partial prepayment, other than on an installment due date, need not be cnedited until
<br /> the next following installment due date or thirty days after such prepayment , whichever is earlier.
<br /> 2. ToFether with, and in addition to, the monthly payments of principal and intereat payable under
<br /> the terma of the note secured hereby, lrlortga�or will pay W Mortgagee, as trustee, ( under the terms of this
<br /> tnut as hereinafter stated ) on the Srst 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 wili next beeome due
<br /> and payabie on }wlicies of fire and other hazard insurance coverin� the mortga�ed property,
<br /> plus taxes and assessments next due on the mortgaged property ( all as eatimated by the Mort-
<br /> Ya�ee, and of which the Atortgagor is notificd ) less all sums already paid therefor divided by
<br /> the number of months to elapse before oiie month prior to the date when such ground rentt,
<br /> premiuma, taxes and assessments H•ill become delinquent, such aums to be held by MortQa�ee
<br /> ia tr►tat to pay said ground rents, premiums, taxes and special asaesaments.
<br /> (b ) The a�greYate of the amounts payable pursuant to subparagraph (a ) and thare payable on the
<br /> nt►te secured hereby, ehall be paid in a singie payment esch month, to be appiied to the foliow-
<br /> ins itecr�a in the order stated :
<br /> ( t ) ground rents, taxes, asseasments, fire and other hazard insurance premiums ;
<br /> (Iz ) intereat on the note secured hereby ; and !
<br /> (tt[ ) amortizstion of the principal of said note. �
<br /> Any def+ciency in the amount of any such agQregate monthly payment alsall, unleaa made �ood
<br /> by the Morigagor prior to the due dnte of the next such payment, constitute sn event of default '
<br /> under thia mortga�e. At Mortgagee's option, 1►Sort�apor wili pay a "late chaz�e" not e:oeed- �
<br /> in� four per centum ( 4 % ) of any install ment when paid more than 8fteen ( 15 ) daya after the
<br /> due date thereof to eover the extra expesnse invulved in handling delinquent payments, but such
<br /> "iste char�e" shall not be payable out of the prceeeds of any sale msde to eatisfy the indebted-
<br /> ness aecured hereby, uniess euch proceeds are sufficient to dischsrge the entire indebtedness and
<br /> all proper costs and expenses secured thereby.
<br /> S. If the tofsl of the payfinenb rr�sde by tF�e Mort�a.Yor under (a) of paragrsph 2 precedin� ahali
<br /> e�tceed the amount of psyrtunts actusUy made by the Mort�a�ee, as trustee, for yround rents, taxes and
<br /> asresaments or insurance premiunfs, ss the cawe may be, such excess shali be credited by the ][ort,QaQee
<br /> an wb�eQuent psyarents to be msde by the Mortsagor for such itemr or, at Mort.�a�ee's option. as trustee,
<br /> shali be refund�d to Mort�aQor. If, however, such monthly payments ehall not be sufficient to pay such
<br /> items wLea f3�e ate�e sha11 become due and payable, then the Mortaayor shall pay to the Mort�seee, as
<br /> trustee. say amotmt neceasary to mske up the deficiency within thirty ( 30) days after written notice from
<br /> Zhe Yart�a�ee statin� the amouat ot the deRciency, vvhich notice may be �iven by enaii. If at any time
<br /> tlie ll[oetsa�or sltali tender to ttu Mortaa�ee, in accordance with the provisions of the note secured
<br /> hsr�by. full pty�aent of tlte entit�e indebtednesa repreaent,ed thereby, the Mortgagee, as trustee, shalt,
<br /> ia ownputins tfie atnount of euch indebtedness, credit to the secount of the Martgsgar any credit balance
<br /> acautmnlsted ueder the provisions of (s) of parsgraph 2 hereof. !f there ahail be a default ueder any �
<br /> od tlre provi�ion� ot this nw�a�e rewltias in s public sak of the preenises uovered hereby, or ii the �
<br /> l[ott�a`ee aoQnires the prope�ty okherwiee after defanit, the Mort�agee, aa trustee, shatl apply, at the
<br /> tise a[ tl�e eommeeoaneat of wda peooeedi�a, or st the time ttu property is otherwise scQnired, the �
<br /> ataeaat tl�aw ramaisit� t� et+edit tt�e �to�tp�or uadcr (s) ot PirasrsM► 2 Preoedin�, as s credit oe the
<br /> ; tae�ee�eat aecrved aod uapaia �ed tl�e b�Jawoe to Hu psineipal tl�a r+emsinisa uap�id on wi� ei►te. ,' ' " �"'
<br /> 4. The iiew o[ ti►is i�trument �l�all ranaiu ia fuli ferea sad el'feat durint ae�y postponeinent or extea-
<br /> � ' ' bj
<br /> �, i�OR � �'�1! �! O� �,Y1l1lpt Of d!E !�ld� A! tIIy �f't «1E!'EOf EECt1lCd }!Ct'E�fr.
<br /> �6. Hs vriil NRY sil �sd ranfa. ts�cea. assewneef's. water rabes. and other g�overnmental or inuaiei- °„,
<br /> A�1 ��s"i+�. �. or itn�tioas, leroie� upon said preraises aad th=L he u�it1 pay all taxec 1evied upoa this �"
<br /> merfsa�}e. et �e �ebt �eenred then6y. bo�' �� aa�r otl�er tues or sasesciesents v��hicl� enay be fevied �
<br /> � fi�e faxs et Nebraska aEsinst t�s l[a�tsa�ee. � tbe le�l lso}der oi said principsi note, on aeeouaat of -
<br /> tJ�ia leBebtaAa�a, e�spt r'bes p�aY�eesR for a11 sueh iteau lus thenetofote been made under (s ) of par�-
<br /> ;ra�A t heneot. s+�d he wil! pe�aaptly deliv�et tAe aAiciai reaipts ttserefor to the Mortga�ee. In default
<br /> t�es'eot the �[�t�ee maY P�Y the atsne. . .
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