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<br /> To HnvE nrrn To HoLn the sam2 unto the Mortgagee, as laei•ein provided. Mort�agor represeiits to,
<br /> and covenants with, the ylortgagee, that the Mortgagor has good riglit to sell and convey saicl premises ;
<br /> that they are free from encumbr•ance, except as liereinotherwise recited ; tliat the Mortgagor �vill tivarrant
<br /> and defend the same against the la�vful claims of all persoi�s w}iomsoever. Mortgagor hex•eby relinquishes
<br /> all rights of homestead, all marital rights, either in law or in equity, and �11 other contingent intei�ests of
<br /> � the �Iortgagor in and to the above-described premises.
<br /> ? �� � PROVIDED ALWAYS, 1Tlcl tlleSC pY852I1tS. 1YC exCCUtCCl and � delivered llpOri th0 follo�ving eonditions,' to
<br /> wit :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid pi�incipal sum with interest from date
<br /> at the rate of eight and one half- --��er centum ( 8 . 5 % ) pex• annum on th unpaid balance untit paid.
<br /> The said princi al and interest shall be payable at the oRice of First Federa� Savings and Loan
<br /> p Association of Lincoln
<br /> in Lincoln , Nebraska , or at such other place as the holder of the note may designate in
<br /> writing delivered or mailed to the Mortgagoz•, in monthly installments of THREE AUNDRED SIX AND 80/ 100
<br /> Doliars ($ 306 . 80 ) , commencing on tiie 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 /> payrnent of principal and interest shall be due 1nd payable on the first day of October 2007 ; ali
<br /> according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br /> The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, as hereinbefore Fn•ovided. Privilege is reserved to prepay at any
<br /> tinle, withaut premium or fee, the entire ind2btedness or any ;�art thereof not tess than the amount of one
<br /> installment , or one hundred dollars ($100 .00) , whichever is less . Prepayment in full shali be credited on
<br /> the date received. Paztial 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 terms of the note secured hereby, Mortgagor �vill pay to Mortgagee, as trustee, ( under the terms of this
<br /> �rust ss her�ia�after sta,ted ) on the first day of each month until said note is fully paid : :
<br />� (a) A surn equal t� the ground rents, if any, next ciue, plus the premiums that will next become uue �
<br /> and payable on policies of fire and otlier hazarci insurance covering the mortgaged property,
<br /> plus taxes and assessments next due o3i the moc•Cgaged property ( ail as estimated by the Mort-
<br /> gagee, and of �a-hich the Mortgagor is notified ) less all sums already paid therefor divided by
<br /> '� ; the number of months to elapse befoi•e one month prior to the date when such ground rents,
<br /> premiums, taxes and assessinents �vill Uecome delinquent, such sums to be held by Mortgagee
<br /> �` in trust to pay said ground rents, premiums, taxes and special assessments.
<br /> , ( b ) The aggregate of the amounts pay=able pursuant to subpayagraph (¢ ) and those payabie on the
<br /> note secured liereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ( t ) ground rents, taxes, assessments, fire and other hazar-d insurance premiuma ;
<br /> ' (it ) interest on the note secured hereby ; and
<br /> (ii1 ) amortization of the principa] of said note.
<br /> Any deficiency in the amount of ru�y �uch aggregat� monthly payment shall, unlese made good
<br /> by the niortgagor prior to the due date uf the next such payment, constitute an event of default
<br /> under this mortgage. At 111ortgagee's option, �lortgagor will pay a "late charge" not exceed-
<br /> ing four �er ceiitum ( 4 ib ) of any install ineiit «•hen paid more than fifteen ( 1.5 ) days after the
<br /> due date thereof to cover the extra expcnse inaolved in handling delinquent payments, but such
<br /> '9ate charge" shall not be pay�able out of the pi•oceeds of any sale made to satisfy the indebted-
<br /> ness secui•ed hereby, unless such px•oceeds ai•e sufiicient 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 insuranee premiums, as the case may be, such excess snall be credited 'uy tne iviortgagee
<br /> on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> ` shail be refunded to Mortgagor. If, however, such monthly payments shall not Ue su�cient to pay such
<br /> items when the same shall beeome due and payable, then the Mortgagoi• shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shall tender to the D7ortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the Mortgagae, as trustee, sha11 ,
<br /> in eomputing the amount of such indebtedness, credit to the account of the Mortgagor any crediz balance
<br /> accumulated under the provisions of (¢) of paragraph 2 hereof. iF i.iier� shall be a def�ult under any
<br />� of the provisions �f thia moi�tgage resulting in a public sale of the premises co��ex•ed hereby, or if the
<br /> Mortgagee acquires the property othei�vise after deiault, the biortgagee, as irustee, sliali appiy, at tlie
<br /> time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br /> amount then remaining to credit the Mortgagor under ( a) of paragraph 2 preeeding, as a credit on the
<br /> interest acerued and unpaid and the balanee to the principal then remaining unpaid on said note.
<br /> 4. The lien of this instrument shail remain in full force and effect during any postponement or exten- � . _ ~�� � `'
<br /> sion of the time of payment of the in3e�tedne�s cr a:.y gsrt thereof sec�vre3 here�y. _. � '
<br /> �,; 5. He wili pay all ground rents, taxes, assessments, water rates, and other governmental or munici-
<br /> , , �
<br /> pal charges, fines, or impositions, levied upon said prnmises ard that he will pay all taxes levied upon this � ; � :
<br /> mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied
<br />� ' under the lnws of Nebraska against the Mortgagee, or the legal holder of said principal note, on account o[
<br /> this indebtedness, except �i�hen payment for all such items has theretofore been made under (a) of para- a,
<br /> graph 2 hereof, and he will promptly deliver the �fficial receipts therefor to the 117ortgagee. In default
<br /> thereqf,th,e A'�o,r,tgaSee may pay the same. �
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