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<br /> 77_ U07419
<br /> TO HAVE wNn To HoLn the same unto the Mortgagee, as hei•ein provided. Mortgagor represents to,
<br /> snd covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premisea ;
<br /> that they are free from encumbrance, except as hereinother�+- ise recited ; that the Mortgagor will warrant
<br /> � and defend the aame against the laK�ful claima of all persons whomsoever. Mortgagor hereby relinquiahea
<br /> all riQhts oY homeatead, all marital rights, either in la�v or in equity, and all other contingent interesta of
<br /> the Mort�agor in and to the above-described premisea.
<br /> PROVIDED ALWAYS, and theae presents are executed and delivered upon the following conditione, to
<br /> Wlt :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal surn with interest from date
<br /> at the rate oP Eiqht and Ozse Half per centum �3 1/�'0 ) per annum on the unpaid balance until paid.
<br /> The said principal and interest shall be payable at the office of wESTEFN SECURITIES COt+�ANY
<br /> in �a � Nebraeka , or at such other place as the holder of the note may deaignate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of � Hundred 7Wenty Six & 9/100
<br /> Doilars ( $ 226 . 09 ) , commencing on the first day of g�r�ry , 19 �8 , 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 /> payment of principat and interest shall be dae and payable on the flrst day of Januasy 2008 ; all
<br /> according to the terms of a certain promiasoe•y note of even date hereu�ith executed by the said Mortgagor.
<br /> The Mortgagor further agreea :
<br /> 1. He will pay the indebtedness, as hereinbefoi•e provided. Privilege ia reserved to prepay at any
<br /> time, without premium oi• fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> installment, or one hundxed dollars ($100.00) , whichever ia less . Prepayment in Pull shall be credited on
<br /> the date received. Partial prepayment , other than on an installment due date, need not be credited until
<br /> the next following inetallment due date or thirty days after such prepayment , whichever is esrlier.
<br /> 2. To�ether with, and in addition to, the monthly paymenta of principal and intereat payable under
<br /> the terrna oY the note secured hereby, Mortgagor will pay to Mortgagee, aa trustee, ( under the terma of thia
<br /> truat as hereinafter atated ) on the firat day of each month until said note is fully paid :
<br /> (a ) A aum equal to the ground rents, if ai�y, next 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 /> plus taxes and assessments next due on the mortgaged property ( all as eatimated by the Mort-
<br /> gagee, and of H•hich the Mortgagor is notified ) less all aums already paid therefor divided by
<br /> the number of months to elapse before one month prior to the date when such Qround rente,
<br /> premiums, taxes and assessments ���ill become delinquent, such sums to be held by Mortga�ee
<br /> in trust to pay said ground rents, premiums, taxes and special asaesamente.
<br /> ( b ) The aggregate of the amounts payable pursuant to subparagraph ( a ) snd thoae payable on the
<br /> note aecured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ( i ) ground rents, taxes, asseasments, fire and other hazard insurance premium� ;
<br /> QI ) interest on the note secured hereby ; and
<br /> ( cii ) amortization of the principal of said note.
<br /> Any deficiency in the amount of any such aggregate monthly payment ahall, unleaa made �ood
<br /> by the Mortgagor prior to the due date of the next such payment, constitute an event oP default
<br /> under this mo:•tgage. At 1�4ort�agee's option, Mortgagor will pay a "late chsr�e" not exceed-
<br /> ing four per centum ( 4 °ic ) of any install ment �a•hen paid more than fifteen ( 15 ) days after the
<br /> due date thereof to cover the extra expenae ihvolved in handling delinquent paymenta, but such
<br /> "late charge" shall not be payable out of the pi•oceeds of any sale made to aatiafy the indebted-
<br /> nesa secured hereby, unlesa such pi•oceeda are sufficient to discharge the entire indebtednese and
<br /> all proper coats and expenses secured thereby.
<br /> 3. If the total of the paymenta made by the Mortgagor under ( a) oP paragraph 2 precedinQ ahsll
<br /> exceed the amount oP paymenta actually made by the Mortgagee, as truatee, for ground rents, taxea and
<br /> aseesamenta or inaurance premiums, ea the caae may be, such excesa shall be credited by the MortQa�ee
<br /> on aubsequent paymenta to be made by the Mortgagor for such itema or, at Mortgagee's option, as treatee,
<br /> shall be refunded to Mort,�agor. If, however, such monthly payments ahall not be suft9cient to pay such
<br /> itetas when the same ehall become due and paysble, then the Mortgsgor shall pay to the MortgaQee, as
<br /> trustee, any amount neceseary to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortga�ee stating the amount of the deficiency, which notice may be given by mail. IP at any time
<br /> the Mort�a�or ahall tender to the Mortga�ee, in accordsnce with the provisions of the note secured
<br /> hereby. fuli payment of the entire indebtednesa represented thereby, the Mortgagee, as truatee, ahall,
<br /> in computin� the amount of such indebtedness, credit to the account of the MortQagor any credit balance
<br /> accumulated under the provisiona of la) of paraytaph 2 hereof. If there ahall be a 3efault under an�•
<br /> oi the provisions of this mortgage resulting in s public sale of the premiaes covered hereby, or if the
<br /> Mort�a�ee soquires the property otherwiee after default, the Mortgagee, as truatee, ahall apply, at the
<br /> time o! the commencement of such proceedings, or at the time the property is otherwiee acquired, the
<br /> amouat then remaining to credit the Mortgagor under (a ) of paragraph 2 preceding, sa a credit on the
<br /> inter�t accrued and unpaid and the balance to the principsl then remainin� unpaid on eaid note. `
<br /> ,,. ' .1.ty.
<br /> L 4. The lien of this instrument shali remain in full force and effect durin� any postponement or exten- t~
<br /> �ion oi the time of payment of the indebtedneas or any part thereof secured hereby. � .,�;.
<br /> 6. He will pay all �'ound renta, taxes, asaeastnenta, water ratee, and other governmental or munici- � �
<br /> yal charaea, flnes, or impositiona, levied upon Raid premieee and that he will pay ail taxeer levied upun Lhis
<br /> eaort�ag�e, or the debt eecured thereby, together with any other taxea or ue�aesrimeii6a µ l�i�l, uiay Le 1nviEd
<br /> under tha laws of Nebraska againat the Mortgagee, or the legal holder of said principal note, on account of �
<br /> this indebtednesa. except when payment for ali auch iteme has theretofore been made under (a ) of para-
<br /> �raph `L hereof, snd he will promptly deliver the official rec:eipta lherefur Lu LLr .11ui'tYagce. In default
<br /> thereoi the MortsaQee may pay the same.
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