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<br /> To HAVE nivn To HoLn the sarne unto the Mortgagee, as herein pr•ovided . Mortgagor represents to,
<br /> and covenants with, the Mortgagee, that the Nloi•tgagar has good right to sell and convey said premises ;
<br /> thatthey are free from encumbrance, except as }iereinotherwise i•ecited ; that tlie Mortgagor will warrant
<br /> and defend the same against the la�s�ful clainrs of all persons �chomsoevez•. Mortgagor hereby relinquislies
<br /> all rights of homestead, all marital 'rights, either in law or in equity, and all other contingent interests of
<br /> the Mortgagor in and to the above-desci•ibed premises.
<br /> � P1toVIDED ALWaYs, and these presents are executed and deliw,, 2d upon the following conditions, to
<br /> wit :
<br /> Mo�tgagor agrees to pay to the Mortgagee, or order, the aforesaid grincipal sum with interest from date
<br /> at the rate of e3ght and one half--- per centum ( 8 , 5 % ) per annum on the unpaid balance untii paid.
<br /> The said principal and interest shall be payabie at the o[�ce of o frLtnFe�d1eral Savings and Loan Association '
<br /> in Lincoln, Nebraska , or 1t such other place as tlie `fiol�er of the note may designate in
<br /> writing delivered or mailed to the iViortgagor, in monthly installments of ONE HUNDRED EIGHTY EIGHT AND 38 / lOQ "
<br /> Dollars ($ 188 . 38 ) , commeneing on tlie first day of November , 1J 77 , and continuing on
<br /> the first day of each month tliereafter 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 October 2007 ; all
<br /> accox•ding to the terms of a certain promissory note of even date herewith executed by the said biortgagor.
<br /> The Mortgagor furtl-cer agrees : �
<br /> 1 . Eie will pay the indebtedness, as hei•einbePore pz•ovided. Privilege is reserved to prepay at any
<br /> time, without premium oi• fee, the entire indebtedness or any part tliereof 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. 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 terms of the note secured hereby, Mortgagor will pay to 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 sum equal to the ground rents, if any, next due, plus the premiurns that will next become due
<br /> and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br /> plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort-
<br /> gagee, and of ci�hich the Mortgagor is notified ) less all sums already paid therefor divided by
<br /> the numbea� of months to elapse before one rnonth prior to tite date when such ground rents,
<br /> premiums, taxes and assessments �vill becorne 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 payable pursuant to subparagraph ( a ) and those payable on the
<br /> note secumci hereby, shail be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the orcler stated :
<br /> ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> ( II ) interesti on the note secured hereby ; and
<br /> ` {ui ) amortization of the principal of said note.
<br /> Any deficiency in thc amount of any such aggmgate monthly payment shall, unless made good
<br /> by the DZortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At 114ortgagee's option, Mot-tgagor will pay a "late eharge" not exceed-
<br /> ing four per centum (4 �6 ) of any install ment «�hen paid more than fifteen ( 15 ) days after the
<br /> due date Yhex•eoP to cover the extra expetise involved in handling delinquent payments, but such
<br /> "late cha:•ge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured }iereuy, unless sucli proceeds ai•e sufficient to discharge ti�e entire indebtedness and
<br /> � all proper wsts 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 Mox•tgagee, as trustee, for ground rents, taxes and
<br /> assessrnents 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 Mort,gagor. If, hoH=ever, such monthly payments shall not be sufficient to pay such
<br /> � items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to make up the deficiency within thirty ( 30) days after �vritten notice from
<br /> the Mortgagee atating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shall tender to the Mortgagee, in aceordance with 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 balance
<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 acquirea the property otherwise after defautt, the N'fortgagee, as trustee, shall apply, at the
<br /> tizne of the commencement of such proceedings, or at the time the property is othenvise acquired, the
<br /> amount then remaining to credit the Mortgagor under (a) of paragraph 2 preeeding, as a credit on the P
<br /> interest accrued and unpaid and the ba]ance to the principal then remaining unpaid on said note. �
<br /> 4. The lien of this instivment shall remain in fu11 force and e:feet du�ing az�y postponement or exicen- ,� , % ' �`
<br /> sion of the time of pay ment of th� indebtedness or any part thereof secured hereby. " � ` �
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<br /> � 5. He will pay a21 ground i•ents, taxes, assessments, water rates, and other governmentttl or munici- .^
<br /> pal charges, fines, or impositions, levied upon said premises and tta.at he will pay all taxes levied upon this ,'„��;,''
<br /> � mortgage, or the debt secured thereby, together �vith any other taxes or assessments which may be levied " ' �
<br /> undPrthelawsof Nebraeka againstthe Mortgagee, or the legal holder of said principa] note, on account of
<br /> this indebtedness, c�xcept w�Nen payrnent for all e�xch itemR has the�•etofore l�een �nade under (a) of para- ` `'
<br /> graph 2 hereof, and he will promptly deliver the ofi'icial receipts therefor to the Moi•tgagee. In default
<br /> thereof the Mortgagee may pay the same. - .
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