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<br /> TO HnVE axn To HOLn the same unto the Mortgagee, �is het•eiri provided. Mortgagor represents to,
<br /> and covenants with, the Mortgagee, tl�at the DZortgagor has good right to sell and convey said premises ;
<br /> that they ax'e free from encumbrance, except as hereinotherwise recited ; that the Mortgagor «�i11 w.arrant
<br /> and defend the same against the lawtul claims of ali persons �vhomsoever. Mortgagor hereby relinquishes
<br /> r all righYs of homestead, all marxtal ri�hts, either inla�v or in equity, and all other contingent interests of
<br /> ' " the Mortgagor in and: to the above-desci•ibed prernises.
<br /> ', PROV11)ED A.LWAYS, and theS2 pY'eSeritS a.Y'e exeCtltCd and delivered upon the follo�ving conditions, to
<br /> wit : ,
<br /> 1 Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> ` �� at therate of eight and one half -- Per centum ( g , 5 % ) r annum on the np•iid balance untii paid.
<br /> � � The said rinci al and interest shall be ayable at the office of ��rst Federal Suavings and Loan
<br /> p p P Association of Lincoln
<br /> '' � in Lincoln, Nebraska , or at such otlier place as the holder of the note may designate in
<br /> � writireg delivei�ed ox• mailed to the b7ortgagor, in monthly installments of TWp HiJNDRED FIFTY N=NE AND 12 / 100--
<br /> � Dollars ($ 259 . 12 ) , commencing on the first day of November , 1�7 , and eontinning on
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<br /> the first day of each month thereafter until said note is fully p1id, exceZ�t 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 ; a»
<br /> �- aceording to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br /> �"� The Mortgagc: further agrees :
<br /> 1. He will pay the indebtedness, as hei•einbefoi•e provided. Privile�e is reserved to prepay at any
<br /> timer without premium or fee, the entire indebtedness or any part thereof not lesa than the amount of one
<br /> installment , ox one hundred dollars {$100 .00) , whichever is less . Prepayment in fuil 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 foilowing installment due date or thirty days after such prepaymen+, wnic::a:•ar is earliex.
<br /> ' 2. Together with, and in addition to, the monthly payments of principal and interest payabie under
<br /> the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, ( under the terms of this
<br /> trusb as hereinafter stated) on the first day of each month until said note is fully paid :
<br /> (¢) A sum equal to the ground rents, if auy, next due, plus the pi�emiums that wflll next become due
<br /> � and payaUle on policies of fire and other h�zard insurance covering the mortgaged property,
<br /> plus taxes and assessments next due on the mortgaged property ( all as estimated by the Mor�
<br /> � gagee, ancl of �vhich 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 rents,
<br /> premiums, taxes ancl assessments �c-ill become delinquent, such sums to be held by Mortgagee
<br /> ,.� ` �- in trust to pay said ground rents, premiums, taxes ancl special assessments.
<br /> ' (b) The aggregate of tlie amounts payable pursuaut to subparagraph (a) and those payable ott the
<br /> ` note secured hereby, shall be paid in a singie ��ayment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ' ; (i ) ground rents, taxes, assessmeuts, fire and other hazard insurance premiums ;
<br /> S (1i ) interest on the note secured hereby ; and
<br /> (Iti) amortization of the principal of said note.
<br /> Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br /> i by the blortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, Mortgagor will pay a '9ate charge" not exceed-
<br /> ; ing four per centum ( 4?0 ) of any iiistall ment when paid moz e than fifteen ( 15) days after the ,
<br /> due date thereof to cover the extra expense involved in handting delinquent payments, but such '
<br /> "late charge" shali not be payaUle out of the proceeds of any sale made to satisfy the indebted-
<br /> ,' ness secured hereby, anless such pi•oceeds are sufficieut to dischat•ge the entire indebtedness and
<br /> ; all proper costs and expenses secured thereby.
<br /> ; 8. If the tota.l 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 �remiuma, as the case may be, such excess shall be credited by the IvIortgagee
<br /> ; on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee, .
<br /> j shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br /> ; items when the same shail become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> G 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 tnsil. If at any time ;
<br /> the Mortgagor shalt te^�er to the Mortgagee, in accordsnce with the provisions of the note secured
<br /> hereby, �vil 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 und�er the provisions of ( a) of paragraph 2 hereof. If there shall be a default under any
<br /> of tlie pruvisiotis of this rnortgage resulting in a pub?ic s�le of the premises cavered hereby, or if the
<br /> � blortgagee acquires the property otherwise after default, the Mortgagee, 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. 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 remaining unpaid on said note. " - ^�,,� '
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<br /> 4. T'he lien of this instrument shall remain in full force and effect 3uring any postpaiement or exten- �- � p��
<br /> ` ] • ' : sion of the timie of payt�ent of the indebtedness or any part thereof secured hereby. : ��y� .
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<br /> 6.'� �ie, wiil, pay all ground rents, taxes, assessments, water rates, and other governmental or munici- � ,
<br /> , _ pa1 charge's, fi�es, or impositions, levied upon said premises and that he will pay all taxes levied upon this " �
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<br /> mortgage, or �he ctebt secui•e�l ti�ex•eby, tagether �vith �ny other taxes or �ssessments �*�hich may be levied ° " ` '
<br /> u�der,the laws of Nek�rasl:a a�aiust tl.e ;YIortgagee, or the .egat holdcr of said principal note, en ac.count of '
<br /> �;.
<br /> this indebtedness, except tivhea payment for all such items nas theretofo=e been made under (a) of para-
<br /> graph 2 "hereof, and he w ill promptly deliver the official receipts therefor to the Mortgagee. In default
<br />' " thareuf the Mortgagee may pay Yhe s�.zne.
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