|
�.�:�
<br /> r- �
<br /> TO HAVE wND To fioLD the same unto the Mortgagee, as hurein {�ru�� ided . Murtgagor re�resrnls tu,
<br /> and covenants with, the :14ortgagee, that the Mortgagor has gou� l right to s��il and convey said premises ;
<br /> that they are free from encumbr•ance, except as he�reinothrr��� ise r��cited ; that tl�ie Mortgagor ���ill H�ar•rant
<br /> and defend the same against the la�rful claims of all persons ��•hum�oevi�r. MortKagor 1�� reby relinyuishes
<br /> r all righta of homestead, all marital rights, either in la�s or in cyuitp, and all othei• cuntingent iuterests of
<br /> � the Mortgagor in and to the abo��e-described premises.
<br /> PRovtnEn ALwnYs, and these presents are executed and deli ��ered upon the tollowing conditions, to
<br /> wit :
<br /> Mortgagor agrees to pay to the Mortgagee, ur order, tiiexforesaid lx�inci �ixl suni �cith interest from dxte
<br /> at the rate of e3ght and one -half pe►• centum ( g� '< ) per xnnum un the uu ��aid balance until p:iid .
<br /> The said principal and interest shall be pxyable xt the office of ganco Mortgage Company
<br /> pp in Wa terloo , Iowa , ur xt sueh uther place as the holder uf the note may designate in
<br /> C.� writing delivei•ed or mailed to the �Ioi•tgagor, in monthly instaliments uf TSwo Hundred Fifteen and 32 / 100tha
<br /> C�; Dollars ($ 215 . 32 - - - -) � �'�>mmencing on the first dxy of January , 19 7g , and continuing on
<br /> C' ' the first day of e�ch monUi thereafter until said nute is fully paid , except thdt, if not sooner paid , the final
<br /> � paymer�t of principal .�nd intee•est � hall be �3ue xnd payable on th� first day of December , 2007 : � � 1
<br /> � accocding to the terms of a eertain promissury nute of e��en date Lerc��• ith executed by the sxid Mortgaduc.
<br /> ^ The Mortgagor fw•ther agrees :
<br /> 1� 1 . He will pay the iudebtedness, as her•t� inbc• t'ore provi ��i���i . Yrivile�ge is rirserved to prepay at an��
<br /> time, without premium or fee, the entire indebtedness or an�• part lhereof nuC less than the amouut of one
<br /> installment , or one hundred dollars ($ 100 .00 ) , whichever is less . Prepayment in ful! shall be credited on
<br /> the date received. Partial prepxyment , other than on rin installment due date, need not be credited until
<br /> the next following installment due date or thirty days after such prepayment, whichever is exrlier.
<br /> 2. Together with, and in addition to, the monthly payrnents of principal and intereat payable under
<br /> the terma of the note secured hereby, Mortgagor will pay t�> Mortgage�e, as ttvst,��e, ( under the terms of this
<br /> trust as hereinafter atated ) on the first day of each month until said note is fully paid :
<br /> (¢) A sum equal tu the ground rents, if auy, next due, plus the premiumx that will next become due
<br /> and payable un policies of fire and other haza�•d insurance covering the mortgaged property,
<br /> plus taxes and assessments next due uu the murtgaged property ( all as eatimated by the Mort-
<br /> gagee, and uf �chich the Mortgagor is nutified ) l.�ss all sums already paid therefor divided by
<br /> the number of munths t�� elapse bePurt� oue month prior Lo the date ��• hen such ground rents,
<br /> premiums, taxes and asse.r•smeuts �� i11 I�ecume �icliuyuent, such suma to be held b,v MortgaQee
<br /> in trust to pa}• said ground rents, peemiums, taxey ai�d special asaessments.
<br /> ( 6 ) The aggregate of the amounts ���ayxble pw•suant t�� subparagraph ( a ) and those payable on the
<br /> note secured herrb�•, shall be paid in a single pa>� ment each moiith, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ( i ) ground i•ents, taxes, assessments , fire and other• hazard i�isurance premiume ;
<br /> ( II ) interest on the nute secured hereby ; and
<br /> ( 11t ) amoi•tizatiun of the principal of said note.
<br /> Any deficiency� it� the amount of any , uch aggregxte numthly payment shall , unlesa made good
<br /> . by the htortgagor prior to the due date of the next such paymrnt, constitute an event of default
<br /> under this mortgage. At biortgagee's option, 1lortgagor will pay a "late charge" not exceed-
<br /> ing four pei• ccntum ( -1 !'; ) of any� inatall ment �� iieii paid more than fifteen ( 15 ) days after the
<br /> due elate tl�ereof to cover the extra expeuse in�•ol � ed in handling delinquent pxy� ments, but such
<br /> "late charge" shall not be pa>�able uut of the proce�•ds uf xny sale made to satisfy the indebted-
<br /> neas secured hiereby, unless such pi•occeds are sulficient to discharge Che e�iYire indebtedpesa and
<br /> ell proper costs and expensea securecl thereby.
<br /> 8. If the total of the paymenta made by the Mortgagor under ( a ) of paragraph 2 precedinQ shall
<br /> exceed the amount of psyments actually made by the Mortgagee, as trustee, for ground rents, taxea and
<br /> asaeasmenta or insurance premiums, as the caae may be, such excese shall be credited by the Mortgagee
<br /> on aubsequent paymenta to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mort,Qa�or, lf, however, such monthly- paymenta shall not be sufl5cient to pay such
<br /> itema when the eame shall become due and payable, then the Mortgagor shxil pay to the Mortgagee, as
<br /> truatee, any amount necessary to make up the deficiency within thirty ( 30 ) days after u ritten notice from
<br /> the Mortgag�ee atating the amount of the defia:iency, which nutice may be given by muil. If at dny time
<br /> the Moet,Qagor ahall tender to the Mortgagee, in accordance u� ith the pro� isions of the note secured
<br /> hereby, full payment of the entire indebtednese repreaented thereby, the Mortgagee, as trustee, shall ,
<br /> in computin� the amount of such indebtednesa, credit to the account of the Mortgagor any credit balance
<br /> accnmulated under the provisions of ( ¢ ) of paragraph 2 hereof. If therP shall tw x d�fxult under anv
<br /> of ihe provisiona of this mortgag�e reaulting in a public sale of the premises cov�r� herebY, or if the
<br /> Mort�a�ee acquires the property otherwise after default, the !�Iortgagee, as trustee, shall apply, xt the
<br /> time of the commencement of such proceedinga, or at the time the property is otherN�ise acquired , the
<br /> amouat then remsininQ to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the �
<br /> intere�t accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or e�cten- w
<br /> aion of the time of puyment of the indebtednesa or any part thereof secured hereby. �
<br /> 5. He will pay all ground renta, taxea, asaeeaments, w•ater rates, and other governmental ur munici- ""'`
<br /> pal chsr�, ftnea, or impositione, levied upon said premises and that he will pay ail tarPA IP�•�P.i �� rnn rh ±g
<br /> mort�sge, or the debt aecured thereby, together u•ith any other taxes or aa�wr�rmNntK w�hi�-h m �y M• le��ied
<br /> under the laws of Nebraska againat the Mortga�ee, or the legal holder of said principa! note, on account of
<br /> thia indebtednese, except when payment for all such items hae theretofore been made under ( a ) of pars-
<br /> eraph 2 hereof, and he will promptly deliver the officisl receipta therefor to the :Nr �riRagw> . In �iPfA » It
<br /> thereof the Mort;agee may pay the enme.
<br />�. �
<br />
|