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<br /> To HnvE pND �o ILOLD the same unto the Mox-tgagee, as her�ii� pi-c�E-ic;ed. '-'dcrtgagor repr•esen�s to,
<br /> and covenants with, the Mortgagee, that the l�Tortgagor has good right to sel] and convey said premises ;
<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor will �varrant
<br /> and defend the same against the la�vful claims of all persons �c�homsoever. Mortgagor hereby relinquishes
<br /> ( all rights of homestead, a11 maritaLrights, either in la�v or in eciuity, and all other contingent iiiteresta of
<br /> � the Mortgagor in and to the above-described premises.
<br /> � PROVIDED ALWaYS, and thesC presents are executed and delivered upon the following conditions, to
<br /> � wit :
<br /> � Mortgagor agrees to i�ay to the Mox•tgagee, or order, the aforesaid principai sum with interest from d��te
<br /> � at the rate of eight and one hal£----Per centum ( g , 5 % ) er anr�xtr� on t�e un��.aid balan�e until �aid.
<br /> � The said principal and interest shall be payable at the office of �irst e era Sa ings an Loan sociation
<br /> � in Lincoln , Neb raska , or at sueli other piace as��ie�o�der of the note may designate in
<br /> � writing delivered or mailed to the Mortgagor, in monthly installments of �q HUNDRED SEVENTY SIX AND 04/ 100
<br /> DoIlars ($ 276 . 04 ) , commencing on tlte first day of November , 1977 , and continuing on
<br /> the first day of eacli montii thereafter until said note is fuily paid, except that, if not sooner paid, t}ie finai
<br /> ” payment of principal and interest shail be due and payable on the first day of October 2007 ; all
<br /> according to the te2•ms of a cez•tain promissoi•y note of even date hei•e�vith executed by the said Mortgago��.
<br /> The Mortgagor further agi•ees :
<br /> 1. Zie will pay the indebiedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtedness or any pax•t 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. 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 monthfy 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 unti! said note is fully paid :
<br /> (¢) A sum equal to the grounci rents, if any, next due, plus the premiums that will next become due
<br /> and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br /> plus taxes a�id assessments next due on the mortgaged property ( all as estimated by the Mort-
<br /> gagee, and of H�hich the Mortgagor is notified ) less all sums already paid therefor divided by
<br /> the number of months to elapse before one month prior to the date when such ground rsnts,
<br /> premiums, taxes and assessments will become delinquent, such sums to be held b,V Mortgagee
<br /> in trust to pay said ground rents, premi ums, taxes and special assessments.
<br /> ( b) The aggregate of the amounts payable pui-suant to subparagragh (¢) and those payable on the
<br /> note secui•ed hereby, shall be paid in a single pa,yment each rnonth, to be applied to the follow-
<br /> f ing items in the order stated :
<br /> ; ( I ) ground i•ents, taxes, assessments, rre and other hazard insurance premiums ;
<br /> ' ( [i) interest on the note secured hereby ; and
<br /> ( tti ) amortization of the principal of said note.
<br /> Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br /> by the Mortgagor prior to the due date vf the next such payment, constitute an event of default
<br /> under this moi•tgage. At DToi•tgagee's option, nSortgagor will pay a "late charge" not exceed-
<br /> ing four per ceutum (4 �0 ) of any installmc�nt �ti•hen paid more than fifteen ( 15 ) days after the
<br /> due date tliei•eof to cover the extx•a expense involved in handling delinquent payments, but such
<br /> "late charbe" shall not be pay-abie out of the proceeds of any sale made to satisfy the indebted-
<br /> ness seeut•ed hereby, unless such proceecis ai•e sutiicient 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 para�raph 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 monthly payments shall not be sufT'icient to pay such
<br /> items when the same shall become due and payable, then the Mortgagor shalt pay to the Mox•tgagee, 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, whieh notice may be given by mail. If at any time
<br /> the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness repi•esented 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 provisiona of ( a) of paragraph 2 hereof. If there sha12 be a default under any
<br /> oi the pi•ovisions oi tlii� mot�Egage x•esuliing in a public sale oi tne preinises covered hereby, or if the
<br /> Mortgagee acquires the property otherwise after defxult, the Nlortgagee, as trustee, shall apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br /> � amount then rema.ining to credit the Mortgagor under (a) of paragraph 2 preeeding, as a credit on the �
<br /> + ihterest accrued and unpaid and the balance to the principal then remaining unpaid on said note. _ , ,,:,, F ";" � ' .`+� '
<br /> 4. The lien of this instrument slZa,il remain in fiall force and effect during any postponement or exten- ;� � �`+ �'*L
<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 a•ents, taxes, assessments, �tivater rates, and other governmental or munici- � ;� ��� ,
<br /> pai charges, fines, or impositions, levied upon said premises and that he will pay ali taxes ]evied upon this
<br /> mortgage, or the debt secured iaereby, together with any other taxes or assessments �vhich may be levied
<br /> under the Tawa of Nebraska against the l'iortgagee, or the legal holder of said principal note, on account of ' ��; �
<br /> this indebtedness, ea�cept whan payment for all such items has theretafore been made under (a) of para-
<br /> graph 2 hereof, and he will promptly deliver the ofi'icial receipts therefor to the Mortgagee. ln default
<br /> i;liereoL tlie Moi�t�agee tiiay pay Llie �aiiie.
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