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<br /> To HavE wtvn TO HOLu the same unto the Mort�agee, as herein pi•ovided. Mortgagor represents to,
<br /> and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises ;
<br /> that they ax•e free from encumbrance, escept as h�reinother�vise recited ; that tlie Mortgagor �i�ill �varrant
<br /> and defend the same against the la�vfiil clainis crf all persmis whomsoever. D�ortgagor hereby relinquishes
<br /> � r all rights of homestead, all marital' rights, either in la�v or in equity, and aIl other contingent interests of
<br /> the Mortgagor in and to the above-described premises.
<br /> � PAoviDEn ALWaYs, and these presents are esecuted and delivered upon the following conditions, to
<br /> � wit : ; , '
<br /> � Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> V: at the rate of eight and one half pex• centum ( g , 5�b ) er annum on the unpaid balance until paid.
<br /> ' C The said principal and interest shail be payalrle at the ot�ice of �o�$ �in o 1na1 Savings and Loan Association
<br /> C in Lincoln , Nebraska , or at such other place as the holder of the note may designate in
<br /> � writing delivered or maited to tlie Mortgagor, in monthly installments of T470 HUNDRED THIRTY FOUR AND 91 /lOQ
<br /> p'� Dollars ($ 234 . 91 ) , commencing on the first day of November , 19 77 , and continuing on
<br /> �, the first day of each month tliei•eafter 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 ; ail
<br /> according to the terms of a certain promisso�•y note of even date here�vith ezecated by the said Mortgagor•.
<br /> The Mortgagor further agrees :
<br /> 1 . He will paythe indebtedness, as hereinbefot•e provided. Privilebe is reserved to prepay at any
<br /> time, without premium oi� fee, the entire indebtedness or any part thereof not less than the amouiit 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 installrnent due date, need not be credited until
<br /> the next following instal3ment due date or thirty days after such prepayment , whichever is eazlier.
<br /> > 2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> ` the terms of the note secured hereb,y, Mortgagor will pay to Moi-tgagee, 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, it any, next due, plus the premiums that rvill next become due
<br /> and payable on policies of fire and other hazard insurance covering the mortgaged properEy,
<br /> plus taxes and assessments next due on the mox•tgaged property ( all as estimated by the Mort-
<br /> gagee, and of �chich the Mortg�g�r is �iotified ) less all sums al�•eady paid therefor divided by
<br /> the numbex• oi months to elapse bePore one month pi-ior to the date when such ground rents,
<br /> premiums, taxes and assessments �a�ill become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay said ground rents , preiniums, taxes and special assessments.
<br /> ( b) The aggregate of the amounts pay>able pursuant to subparagraph (¢) and those payable on the
<br /> note secured hereby, sha11 be paid iii a singie payment each month, to be applied to the follo�v-
<br /> in� itemsin the order stated :
<br /> � ( i ) ground rents, ta�:es, assessments, fire and other hazard insurance premiums ;
<br /> ( ii ) interest on the note secured hereby ; and
<br /> (iII ) amortization of the principal of said note.
<br /> � Any deficieney in the arnount of any such aggregate monthly payment shall, uniess made good
<br /> by the Mortgagoi• prior to the due date of the next sucli payment, constitute an event of default
<br /> under this �norCgage. At Mort�,ragee's optiun, Mortgag•or will pay a "late charge" not exceed-
<br /> ing four per centum (4 % ) of any install u�ent �vhen paid more than fifteen ( 15 ) days after the
<br /> due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br /> "late char�e" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds are sufticient 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 (¢) of paragraph 2 preceding shall
<br /> exceed the amount of payments aetually 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 montlily payments shall not be sufficient to pay such
<br /> items when the same shal] become due and payable, then the Mortgagor shail 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 Moz�tgagee stating 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 accordance with the provisions of the note secured
<br /> hareby, 'fuli 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 ander the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage resuiting in a public sale oP the premises cvvered hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the ?VIortgagee, as trustee, shall apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is otherwise acquired, the r
<br /> � amount then remaining to credit the Mortgagor und@r (a) of paragraph 2 preceding, as a credit on the ` ,
<br /> � : interest accrued and unpaid and the balance to the principal then rema.ining unpaid on said note. ' . :_ -.- "�" T ' P '*. "
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<br /> � 4. The 19en of this instrument shall remain in full force and effect dnring any postponement or exten- ' �" � ,�,�
<br /> L• sion of the time of payment of the indebtedness or any part thereof secured hereby. � ' �;;
<br /> . , . � � � �='� �
<br /> �: 5. He wili pay all ground rents, taxes, assessments, water rates, and ot3ier goverivnental or munici- �' °
<br /> pal charges; fines, �ar impositions, levied upon said premises and that he wiil pay all taxes levied upon this �
<br />� mortgage, or the debt seeured thereby, togetl3er with any other taxes or assessments �vhich may be levieci �
<br /> under the ]aws of Nebraska against the Mortgagee, or the legat holder o� said princiPal note, on account oi ��r:-
<br /> this indebtedness, except �vhen payment for all such items has theretofore been made under ( a ) of para-
<br /> graph 2 hereof, and he �vill promptly deliver the of�`icial receipts therefor to the Mortgagee. In default
<br /> thereof the Mortgagee may pay the same.
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