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<br /> 77. f� 07536
<br /> To HwvE eND TO HoLD the same unto the Mortgagee, xs hex•ein provided. Mortgagor represents to,
<br /> snd covenanb with, the MortYa�ee, that the Mortgagor has good right to sell and convey said premi�es ;
<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor «�ill w•arrant
<br /> and defend the same a�sinat the lawful claima of all persons whomsoever. Mortgagor hereby relinquiahes
<br /> all riQhts of homeatead, all maritsl rights, either in ls�v or in equity, and all other contingent interests of
<br /> t}�e Mortga�+or in and to the above-described premisea.
<br /> PBOVIDED ALWAYS, and these presenta are executed and delivered upon the following conditions, to
<br /> Wlt :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest frum date
<br /> at the r8te of eight and one /halper centum ( 8 � `% ) per annum on the unpaid balance until paid.
<br /> The said principal and interest shall be payable at the oflice of Banco Mortgage Company
<br /> �n Water 100 , lowa , or at such otlier place as the holder of the note may designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly instailments of pne Hundred Ninety - two & 25 / lOOths -
<br /> Doilars ( $ 192 , 25 ) , commencing on the first day of February , 19 7g , and continuing on
<br /> the first day oY each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br /> payment of principal an�i interest shal! be due and payable on the first day of January , 2008 � a�1
<br /> accordin� to the terms of a certain promisaory not,e of even date herewith executed by the said Mortgagor.
<br /> The Mort�agor further agreea :
<br /> 1. He wiil pay the indebtednesa, as hei•einbefoi•e pruvided. Privilege is reserved to prepay at any�
<br /> time, without premium or fee, the entii•e indebtedness ur any pai•t thereof not less than the amount of one
<br /> instsllment , os one hundred dollars ($100 .00 ) , whichever is less . Prepayment in full 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 follovrinQ inetaliment due date or thirty days after such prepayment , whichever is earlier .
<br /> 2. To�ether with, and in addition to, the monthly payments of principal and intereat payable under
<br /> the terma of the note aecured hereby, Mort�agor will pay to Mortgagee, as trustee, ( under the terms of th is
<br /> trust as hereinsfter stated ) on the firat day of each month until said note is fully paid :
<br /> (¢) A sum equal to the ground rents, if any, next due, plus the premiuma that will next become due
<br /> and payable on policies of fire and other hazard insurance coverittg the mortgaged property,
<br /> plua taxes and assessmenta next due un the mortgaged property ( all as estimated by the Mort-
<br /> Qa�ee, and of µ•hich the Mortgagor is notified ) less all sums alrea3y paid therefor divided by
<br /> the number uf months to elapse befure oiie munth prior to the clate when such ground rents,
<br /> premiums, taxea and assessments «• ill become delinquent, such suma to be held by Mortga�ee
<br /> in truet to pay said ground rents, premiums, taxes and special assesamenta.
<br /> (b ) The a�Qre�ate of the amounts payable pursuant to subparagraph ( ¢ ) and those payable on the
<br /> note aecured hereby, shall be paid in a single pa��ment each month, to be applied to the follo�--
<br /> inQ items in the order stated :
<br /> ( t ) ground rents, taxes, assessrnents, fii•e and other hazard insurance premiums ;
<br /> ( II ) intei•est on the note secui•ed hereby ; and
<br /> ( tt1 ) amoi•tization of the principal of said note.
<br /> Any deficienc�� in the amowit vf any such aggregate monthly payment shall, unlesa made Qood
<br /> by the '.4fortgagoi• prior to the due datt: of the next such pay-ment, conatitute an event of default
<br /> under this mortgage. At \Sortgagee's uption, ltortgagor will pay a "late char�e" not exceed-
<br /> in� foui• per centum ( 4 '"r ) of a�i�• install meiit �� hen paid more than fifteen ( 15 ) days after the
<br /> due date thereof to cover the extra expeuse involved in handling delinquent paymenta, but auch
<br /> "late charge" shall not be payable out of the proceeds of any sale made to satiafy the indebted-
<br /> neas secured hereby, unleas such pi•oceeds are sufl'icient to discharge the entire indebtednesa and
<br /> sll proper costa and expensea secured thereby.
<br /> 3. If the total of the paymenta made by the Mort�a�or under ( a ) of paragraph 2 preceding ahall
<br /> exceed the amount o! payments actuslly made by the Mortgagee, as trustee, for gT•ound rents, taxea and
<br /> asee4smenta or insurance premiumc, aa the case may be, such excess shall be credited by the Mortga�ee
<br /> oa wbiequent paymenb to be made by the MortgaQor for auch itema or, at Mortgagee's option, as trustee,
<br /> sha11 be refunded to Mort,QsQor. If, however, such monthlY payments ahall not be sufl5cient to pay such
<br /> itetns when the eam�e shall become due and psyable, then the Mortgagor ahall pay to the Mortgagee, as
<br /> truatee, any amount necessary to make up the deficiency w� ithin thirty ( 30 ) days after H�ritten notice from
<br /> the MottQa�ee statin� the amount of the deficieney, which notice may be given by mail. If at any time
<br /> the Mort�a�or ehall tender to the Mort�a�ee, in accordance �cith the provisiona of the note secured
<br /> hereby, lull payment of the entire indebtedneea represented thereby, the biortgaYee, as trustee, shall ,
<br /> ia ootuputit� the amount of such iadebtedneas, credit to the account of the Mort¢agor any credit balance
<br /> iocumulsted uader the provisions uf la ) uf {wrayrxph 2 hrreuf. If therr nliall he a default un�3er any
<br /> of the provisions of thu mort�s�e resultin� in a public ssle of the premiaea covered hereby, or if the
<br /> Mort�a�ee aoquires the property otherwise after default, the Mortgagee, as truatee, shall apply, at the
<br /> time of t,ke commeace�aent of such proceedinss, or at the time the property is otherwiee acquired, the
<br /> amount tt+�en reenainins to credit the Mort�s�or under (a ) of psra�raph 2 preceding, as a credit on the . ;
<br /> interert acen�ed and unpaid and the balance to the principsl then remainin� unpaid on said note. ^- ' --
<br /> r w-^ ,
<br /> `. The lien of this inatrument ahall remain in full force and effect during an3� postponement or exten- � ' *
<br /> tioa of t6e tfine of ptyment of the indebtedneaa or sny part thereof aecured hereby. ` ?<
<br /> ti�
<br /> 5. He �vill paq all �round renta, taxes. asaeeaments, water ratea, and other Yovernmentsl or munici-
<br /> pal char�, f�es, or unQos�t�ont, levied u�fon satd premt�es artd that he will pay sil taxen lrvied u{wn �hia
<br /> nwet�e, ot t�e debt �ecured t4sereby, tosether with sny other tsxes or aaseasmenca �rhich may be levie3 , ,
<br /> uedsr the laws ot Nebraska s�winst the Mort�a�ee, or the le�al holder of said principal note, on account of
<br /> tltis iudebtedneu, esoept whea payment for all auch items has theretofore been made under ( a) of para-
<br /> srsph `L hereuf, and he will promptly deliver I,he official rea;ei �Ln Lliei•efui• lu llir 1i�i•i.guYee. Iit lefaulL
<br /> thereof the ![ort;s�+ee msy pay the same. �
<br /> SAgMort��gor ��re €� thpet � h�uld Ct�e V�e [ grang Admi :} istra � � or � ic� r anv re � s �� � ti . � t
<br /> is �ue a uara y un r e rov a �ns o t e ervi cemen s Rea � sr �,; � r: c At c � . + ,
<br /> . . . , � _ _ . . . . � . _ . . . , , . , � , , . , .,
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