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<br /> 77, iU07536
<br /> TO HwvE pNn TO HoLD the same unto the Mortgagee, as herein provided. Mort�agor represents to,
<br /> aad covenant8 with, the Mortga�ee, that the Mortgagor has good right to sell and convey said premises ;
<br /> � that they are free from encumbrance, except as hereinotherwise recited ; that the bfortgagor ��ill warrant
<br /> and defend the same a�sinat the lawful claims of all persons whomscever. Mortgagor hereby relinquiahea
<br /> sll ri�Ftta of homeatead, all marita.l righta, either in law or in eyuity, and all other continyent interests of
<br /> the Mortga�or in and to the above-deacribed premises.
<br /> PROVIDED ALWAYS, and these presenta are executed and delivered upon the following conditione, to
<br /> Wlt :
<br /> Mortga�or agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> at the rate of eight and one /hal �r centum ( g � % ) per annum on the unpaid bxlance until paid.
<br /> The aaid principal and interest shall be payable at the oft'ice of ga nc o Mor t ga ge Compa ny
<br /> in Water lao , Lowa , or at such other pluce as the holder of the note may designate in
<br /> writinQ delivered or mailed to the biortgagor, in monthly installments of Une Hundred Ninecy - tvo & 25 / 100ths -
<br /> Dollar� (E 192 . 25 ) � commencing on the first day of rebruary , 19 78 , and continuing on
<br /> the ftrst day oP each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br /> payment of principal and interest shall be due and payable on the first day of Janua ry , 2008 : a� �
<br /> accordinQ to the terms of a cex•tain promisaory note of even date here���ith executed by the said Mortgagot•.
<br /> The Mort�agur further agrees :
<br /> 1 . He will pay the indebtedness, as hereinbefore provided . Yrivilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> inetallment , or one hundred dollaze ( $100 .00 ) , whichever is less. Prepayment in full shall be credited on
<br /> the date received. Partial prepeyment, other than on an installment due date , need not be ctedited until
<br /> the ne�ct following installment 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 o! the note seeured hereby, Mort�a�or will pay tu MortgaYee, as trustee, ( under the terms of this
<br /> truat sa hereinafter stated ) on the Rrst day of each month until said note is fully psid :
<br /> (a,) A eum equal to the ground rents, if any, next due, plus the premiuma that will next become due
<br /> snd payable on policiea of fire and other hazard ins� rance covering the mortgsaed property,
<br /> plue taxes and assesamenta next due on the mortgaged propeMy ( all as estimated by the Mort-
<br /> �a�ee, and uf ��•hich the Mortgagor is nutitied ) Ic,ss all sums already paid therefor divided by
<br /> the numbei• of montha to elapse before one month prior to the date ��hen such ground rents,
<br /> premiums, taxea and assessments ��•ill become delinquent, such sums to be held by MortgaQee
<br /> in truat to pay said ground rents, premiums , taxes and special assesaments.
<br /> ( 6 ) The aQgregate of the amounts pa�•able pw•suant to subparagraph ( a ) and those payabie on the
<br /> note secured hei•eby, sha11 be paid in a single pa��ment each month, to be applied to the follow�-
<br /> inQ itema in the order stated :
<br /> ( I ) ground renta, taxes, asaesamenta , fire and other hazard inaurance premiums ;
<br /> ( ii ) interest on the note secured hereby ; snd
<br /> ( IiI ) amortization of the principal of said note .
<br /> Any deficiency in the amount of any such aggregate munthly payment ahall, unleas made good
<br /> by the Mortgagoi• prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At 9lortgagee's option, 1lortgagor will �ay a `9ate charQe" not exceed-
<br /> inQ foue• per centum ( 4 ''i ) of atiy install ment �chen paid more than fifteen ( 15 ) days afterthe
<br /> due date theceof to cover the extra expense invuh•ed in handling delinquent paymenta, but such
<br /> "late chai•Qe" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> nese secured hereby, unless such proceeds ai•e sutricient to discharge t}ie entire indebtedneas and
<br /> all proper costs and expenaes secured thereby.
<br /> S. If the total of the payments made by the Mort,Qa�or under ( a) of paragraph 2 precedin� ahall
<br /> exceed the amount of paymente actuaUy made by the Mortgagee, as truatee, for ground rents, taxe� and
<br /> aseeesmenb or inauraace premiums, sa the esae msy be, such excesa ahall be eredited by the Mortga�ee
<br /> on subsequent paymenta to be made by the Mort�agor for such items or, at Mortgagee's option, aa trustee,
<br /> ahap be refunded to Mort�s�or. If, however, such monthly payments ahall not be suft9cient to pay such
<br /> items whea the asme shall become due and payable, then the N�Iortgagor shall pay to the Mortgage�, as
<br /> trustee, any amount neceasary to make up the deficiency within thirty ( 30 ) day�s after �t• ritten notice from
<br /> the MortQa�ee atatin� the amount of the deficiency , which notice may be given by mail. If at any time
<br /> the blortga�or ehall tender to the Mortgagee, in aocordance H• ith the provisions of the nute secured
<br /> hereby, fuli payment of the entire indebtedneas repreeented thereby, the Mortgagee, as trustee, shall,
<br /> in eomputinQ the itmount of such indebtedneea, credit Lo the account of the Mortgagor any credit balance
<br /> accumulated uader the provisions of (a) of para�raph 2 hereof. !f there ahall be a default under any
<br /> of the provisions ot thie mortga�e reauitin� in s public sale of the premisea covered hereby, or if the
<br /> a[ort,�a�ee acquires the property otherwi�e after default, the Mortgag+ee. as truatee, shall apply, at the
<br /> tin�e o! the c�afstefencetYtent of sueh prooeedin4s, or at the time the property ia otherwiee acquired, the
<br /> setount thea reansinin� to credit the Mort�a,�or under (a ) ot paragraph 2 Preceding, aa a credit on the
<br /> intarest accrued and unpaid snd the balance to the principel then remaininQ unpaid on eaid note. " ,
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<br /> 4. The lien oP this inatrument ehall remsin in full force and effect durin� any postponement or exten-
<br /> eion of the time of payment of the indebtedness or any psrt thereof secured hereby.
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<br /> 6. He will pay all Kround rents, taxes, asaesamenta. «'ater ratea, and other governmental or munici-
<br /> pal cha.r;ea. flnes, or impositions, levied upon eaid premises and thst he will pay all taxea levied upon thia
<br /> �, o� the debt Mecured thee�eby, to�ether with any other taxea or aasessments w•hich may be levied ,
<br /> under tLe Isati of Nebraska a;sinst the Mort�s�ee, or the legal holder of said principal note, on account of
<br /> this indebtednaas, exce�t when psyment !or all such iteme hss theretofore been made under �¢ ) ot para-
<br /> �ra� 2 hereot, and he will promptly deliver the ofI'icial receipta therefor to the '�1ort¢agee. ln default
<br /> thereof the l[ort�asee auy pty the aame. � �
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