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<br /> 77- UC154Fr'
<br /> To HnvE nrrn To IToLn the same unto the biortgagee, �ss hci•ein provided. Martgagor represents to,
<br /> and covenants with, the Mortgagee, that the bloi•tgagor has good rig}it to sell and convey said preinises ;
<br /> that they aie free from encumbrance, except as hereinotherwise re� ited ; that the Mortgagor will wai•rant
<br /> and defend the same against t}ie la�vful claims of all pei•so�is �i�liomsaevei•. Moi•tgagor hereby relinquishes
<br /> all rights of homestead, all marital r-i�hts, either in la�v or in equity, and all uther contingent interests of �
<br /> the Moi•tgagor in and to the above-desci•ibed premises.
<br /> PRovInEn AiwaYs, and these presents are executed and delivered upon the following conditions, to
<br /> wit :
<br /> RZortgagor agrees to pay to the Mortgagee, or oi•der, the aforesaid princip<il sum w�ith interest from date
<br /> at the rate of eight and one half per centum ( 8 . 50ib ) x ann Qn tt�e �npa�id balanc� until paid.
<br /> �irst ,�qera vin�� an Loan
<br /> The said princi��al and interest shall be payable at the oflice of ssocia ion of `�anc n
<br /> in Grand Island , Nebraska , or at such other place as the holder of the note may designate 9n
<br /> writir.g delivered or mailed to the Nlortgagoi•, in monthly installments of ONE HtJNDRED SIXTY ONE AND OS / 100
<br /> Dallars ($ 161 . 05 ) , commencing on t}ie first day of November , 19 77 , and continuing on
<br /> the first dayof each month thereafter until said note is fully paid, except that, if not sooner paid, the tinal
<br /> payment of principll and interest shall ue due and payable on the first day of October 1 , 2002 ; �11
<br /> aceording to the terrns of a certain promissory note of even date herewith executed by the said Mortgl�;or.
<br /> The Mortgagor further agrees : -
<br /> 1. He will pay the indeUtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtec:lness or any pnrt thereof not less than the amount of one ,
<br /> installment , or one hundred dollars ($100.00) , whict�ever 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 following installment due date or thirty days after such prepayment , whichever is earlier.
<br /> 2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> the te�ms of the note sec;ured hereby, Mortgagor will pay to Mortgagee, as trustee, ( tinder the terms of this
<br /> trust as hereinafter stated ) on the first day of each rnonth until said note is fully paid :
<br /> (a) A sum equal to the g•round rents, if any, nest due, plus thc premiums that will next become due
<br /> and payable on policies of fire and other hazai•d insurance covering the mortgaged property,
<br /> � p1US L�1Xe5 tlilCi �i�SeSSiiia?iiuS iic7:� uliC C.. :.�t:C IY:C:'*d..^,e"a �.^. 1'4�(.'T}� { �)� 13 e9t1TY1d.tQC� by t�l.e MOYt- � . .
<br /> gagee, and of.' �vhich the Mortgagor is notified ) less ali sums already paid thei•efor divided by
<br /> , the number oP months to elapse before one month prior to the date ��hen such ground rents,
<br /> premiums, tases and assessmeiits �aill becwne delinquent, sucli sums to be held b,y Mortgagee
<br /> in trust to pay said ground i•ents, premiurns, taxes and special assessments.
<br /> ( b ) The aggregate of the a�nounts payable pui•suaiit to subparagraph (a) and those payable on the
<br /> note secured hereby, shali be paid in a single payment eadi month, to be applied to the follow-
<br /> ing items iu the ox•der stated : .
<br /> ( i ) ground rents, taxes, assessments, fire anci other hazard insurance premiums ;
<br /> ( ii ) interest on the note secured hereby ; and
<br /> ( III ) amortization of the principal of said note.
<br /> Any dercienc5- in thc amount of any sucit aggx•egate �nonthly payment stiall, unless made good '
<br /> by the l�Zortga�;ox� prioi• to the duc datc of the next such payment, constitute an event of default
<br /> under this mortgage. At DIm•tgagce's option, Diortgagor wili pay a `9ate charge" not exceed-
<br /> ing four per centum ( 4 �% ) of any i �istall ment �vhen paid more than fifteen ( 15 ) days after the
<br /> due date ther•eof to cover the exti•a expense involved iii ha�idlin�,= clelinquent payments, but such
<br /> "late ehai•ge" shall not Ue payable out of tlie proceeds of any sale made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds xre sut�icicnt to discharge the entire indebtedness and
<br /> all proper costs aiid expenses secured thereby.
<br /> 3. If the totaT 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 /> shai] be refunded to Mortgagor. If, however, such rnonthly payments sha31 not be sufficient to pay such
<br /> items when the same shall become due and nayable, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to make up the deficiency �a�ithin thirty ( 30) days after �vritten notice from
<br /> the Mortgagee stating the amount oi the deficiency, which notice may Ae given by mail. If at any time
<br /> the Mortgagor shall tender to the Mox-tgagee, in accordance with the provisions of the note secured �
<br /> hereby, iulI paymetit of the enti:e i:3ebteciress represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the a.rnount of sueh indebtecnes�, credzt to the acco�nf of the Mortgagor an3� credit �ulur.c� �
<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 co�ered hereby, or if the
<br /> Mortgagee acquires the property othextir-ise after default, the Morcgagee, as irusiee, shaii appiy, ai iiie �
<br /> time of the commencement of such proceedings, or at the time the property is othercvise acquired, the
<br /> amount then remaining to credit the Mortgagor under ( a) of paragraph 2 preceding, as a credit on the
<br /> interest accrued and unpaid and the balance to the principal then remainin,g unpaid on said note. .� ..
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- ��� _, � ' - ,
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. � � � �`r
<br /> 5. He wiA pay all ground rents, taxes, assessments, watex• rates, and other governmental or munici- ; �, '�^
<br /> pai charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this '
<br /> mortgage, or the debt secured thereby, together �vith any other taxes or Kssessments �vhich may be levied ;
<br />� under the 3aws of Nebraska against the Mortgagee, or the legal holder of said principal trote, on account of
<br /> � this tndebtedne�s; except �vhen payment for all such,items has theretofore been made under (a ) or para-
<br /> ' graph 2 hereof, and he �vill promptly deliver the of;' -ia1 receipts therefor to the ;VIortgagee. In default �
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<br /> ' thereof the Mortgagee may pay the same. ,
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