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<br /> Tp HAVE ANn TO HOI.n the same unto the b4ortgagee, as hereiri pt�ovided . Mortgagor represe�its to,
<br /> and covenants �vith, the Mortgagee, that the Mortgagor has good rig�lit to seli and convey said pi•emises ;
<br /> that they ax•e free from eiicumbrance> except as hei•einotherwise z•ecited ; that tlie Mortgagor «�ill warrant
<br /> and defend the same against the la�vful claims of all persons �vhomsoever. Mortgagor hereby relinquishes
<br /> all rights uf homestead, ali mariial rights, either in la�v or in equity, a�id ali otlier contingent interests of
<br /> � the Mortgagor in and to tlre above-described premises.
<br /> � �PROVIDED �ALWAYS, and tliese presents� are executed and delivered upon the following conditions, to
<br /> wit :
<br /> Mortgagor agrees to liay to the Mortgagee, or order, the afoxesaid pz•incipal sum with interest from date
<br /> at the rate of eight and one half per centum (8 , 50% ) er 1 n n th e n aid balan ntil paid.
<br /> The said principal and interest shall be payable at the oflice of �lrs� �ec�era7. �a�iings an� �oan
<br /> I,incoln Nebraska Asso i t " n of inc ln
<br /> in � , or at such other place as t�lie�o�i�er of tli'e no�e may designate in
<br /> writing delivered or mailed to the Mox•tgagor, in monthly instaliments of ONE HUNDRED EIGHTY THREE AND� � 100
<br /> Doliars ($ 183 . 77 ) , commencing on the first day of November , 19 77 , 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 principal and interest shall Ue due and payable on the first day of October 2007 ; all
<br /> according to the terms of a cei•tain pi•omissoi•y note of eaen date here«�ith executed by the said Mox•tgagor.
<br /> The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, as hereinbefm•e provided . Privilege is reserved to prepay at any
<br /> time, tvithout premitun or fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> installment, or one hundred dollars ($100 .00) , whichever is less . Prepayment in full shall be credited on
<br /> ', the date received. Partiai prepayment, other than on an installment due date, need not be credited untII
<br /> the next foliowing instaliment due date or thirty days after such prepayment, whichever is eazlier. -
<br /> 2. Together with, and in addition to, the monthly payments of principai and interest payable under _
<br /> the terms of the note secured hereby, Mortgagor will pay tu Mortgagee, as trustee, ( under the terms of this
<br /> trust as hereinafter stated ) on the first day of each month until said note is fully paid :
<br /> (a) A surn equal to the ground rents, if any, next due, plus the premiums that will next become due
<br /> Y; and payable on policies of tire and other hazard insurance covering the mox•tgaged property,
<br /> � plus taxes and assessments next due ari the mortgaged property ( ali as estimated by the Mort-
<br /> gagee, and of �vliich the MortgagoY• is notifiecl ) less all suins already paid therefor divided by
<br /> the numbei• of months to elapse before wie month pi•ior to the date when such gx•ound rents,
<br /> premiums, taxes and assessments «•ill become dclinquent, such sums to be heid by Mortgagee
<br /> in trust to pay said gz�ound rents, premiums, tases and special assessments.
<br /> ' ( b ) The aggregate of the amounts payablc pursuant to suuparagraph (a ) and those payable on the
<br /> note secured hereu,v, shall bc paid in a single payinent each month, to be applied to the follo�v-
<br /> ing items iu the order stated :
<br /> ( t ) ground rents, tlxes, assessments, fire and other hazard insurance premiums ;
<br /> ( n ) intereston the notesecu��ed hereby ; and
<br /> ( it1 ) amortization of the pi•incipal of said note.
<br /> Any deficiency in thc amouut of any such aggrebate monthly payment shall, unless made good
<br /> � by the Nloi•tgagor prior to the due date of the next such paytnent, constitute an event of default
<br /> k under this mortgage. At :1lortgagee's oi�tion , Mortgag•or will pay 1 "late charge" not exceed-
<br /> ing foui• per centum ( 4 °'o ) of any install meiit �shen paid more than fifteen ( 15 ) days after the
<br /> due date thei•eoP to covei• the exti•a expeiise invoh�ed in liandling delinquent payments, but such
<br /> "late cllarge" shall not be pay�able out of the pr�ceeds of any sale made to satisfy the indebted-
<br /> ness secui•ed hereby, imless such proceeds are sutticient to discharge the entire indebtedness and
<br /> all proper costs and expenses secured thereby.
<br /> 3. If the total of the payments made by the Mortgagor under ( a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> � , assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br /> on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mortgagor. If, however, such month3y payments shall not be sufficient to pay such
<br /> items when the same shall become due and payable, then tlie Mortgagor shail pay to the Mortgagee, as
<br /> trustee, any amount necessaiyto make up the deficiency «�ithin thirty ( 30 ) days after written notice from
<br /> , the Mortgagee stating the amount of the deficiency, which notice may be gicen by mail. lf at any time
<br /> the Mortgagor shall tender to the Mortgagee, in accordance «-ith the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit baiance
<br /> accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br /> Mortgagee aequires the property otherwise after deFault, the Mortgagee, as trustee, shall apply, at the
<br /> time of the commencement of such proceedings, or at the iime ihe pruperty is otherwise acquired, the
<br /> amount then remaining to credit the Mortgagor under ( a ) of paragraph 2 preceding, as a credit on the
<br /> ; intereat accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br /> 4. �he lien of this instrument shall remain in full fox•ce and effect during any postponement or exten- ^^�� " �' �'�
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. � �
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<br /> 5. He will pay all ground rents, taxes, assessments, «�ater rates, and other governmental or munici- �G '
<br /> ` � pal charges, !'ines, or impositions, levied upon said premises and that he will pay all taxes levied upon this �`
<br /> mortgage, or the debt secured thereby, together with any other taxes or assessments �vhich may be levied � '`�
<br /> under the laws of Nebraska against the Mortgagee, or the legal hoider of said principal uote, on account of
<br />� this inclebtedness, except when payment for all such items has theretoiore bcen made under ( o,'; ut para- @..
<br /> graph •L hereof, and he will promptly deliver the otliciai receipts therefor to the l7origagee. Zii defauit
<br /> thereo� �he:Mortgagee may pay the same.
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