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<br /> ��,Ln the s�tr,se �� nta Llie �1ei•tba},�c, .��� l7 �reizi pr�'r�� ir, ti�l , h,c�r , g�ab��,�r re�resent � tu,
<br /> and covi�nants �vi �}�i, tihe Moi•tg�igce, that tt��e� D�Tortgagor has gou� l rig�l�iC to scll uncl c��nvey said pi�emises ; �
<br /> r tliat they are free froin encumbrance, except as h�reinothei• ���ise re� iLed ; that the Mortgagor �t�ill ���arrant
<br /> and defend the same ab*airist the la�vful claiins of all pei�soiis �i�hoiiisoever. b4oi•tgabox• hez•euy rclinquishes
<br /> � r all rights of homestead, all marital rights, eithex• in law or in eq �uty, and all otlier contingent interests of
<br /> the Mortgagor .n and to tlie above-desci•ik�ed premises.
<br /> P'RovIDED Ai,wAxS, and Lhese presents are executed and delivered upon the following conditions, to
<br /> cvit :
<br /> Mortgagor agrees to payto the Mortgagee, or order, the aforesaid principa] sum with interest from date
<br /> at the rate of eight and one half---iaer centum ( g , 5 �/o ) ��r a�n�rr�on t�ie�n��id balan�Ce �antil paid.
<br /> �� The said rinci al and interest shali be ayable at the o�ce of rs e era a ngs an oan
<br /> P P P Association of Lincoln
<br /> � in Lincoln , Neb raska , or at such other Place as the holder of the note may designate in
<br /> u"�"'., writing delivered or mailed to the Mortgagor, in monthly installments of TWO HUNDRED TWENTY SIX AND 07 / 100--.
<br /> Dollars ($ 226 . 0 7 ) , commencing on the first day of November , 1977 , and continuing on
<br /> `"' the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, tlie final
<br /> .:�.
<br /> payment of principal and interest shall be due and payable on the first day of October 2007 ; all
<br /> � according to the terms of a certain I3romissoiy note of even date herezvith executed by the said Mortgagor.
<br /> p�„ The Mortgagor further agrees :
<br /> 1. He will pay the iiidebtedness, as hereinbefore provided. Privilege is reserved to px•epay at any
<br /> time, without premium or fee, the entire indebtedness ur any part. thereof not less than the amount of one
<br /> ' instailment, 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 monthiy 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 /> trusY as hereinafter stated) on the first day of each rnonth until said note is fully paid :
<br /> (a) A sum equal to the growid 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 and assessments next diie on the mortgaged property (all as estimated by the Mort-
<br /> gagee, and of �vhich the Mox•tgagox• is notified ) ]ess all sums already pai3 therefor divided by
<br /> the nuntber of anonths tn elapse before one month px•ior to the date when such ground rents,
<br /> premiuma, taxes and assessments �i�ill become delinquent, such sums to be he]d by Niortgagee
<br /> ' in trust to pay said gi•ound 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 secured hereby, shall be paid in a single payme�it eacli month, to be appiied to the follow-
<br /> ing items in the order stated : t;
<br /> (i ) ground rents, taxes, assessments, fire and nther liazard insurance premiums ;
<br /> (ii ) interest on the note secured hereby ; and 4'
<br /> � lk
<br /> ( ui ) amortization of the principal of said note. w".�
<br /> Any de8ciency in the amoant of any such aggrebate monthly payment shall, unless made good �"<�"
<br /> by the 141ortgagox• prior to the due date of the next such payment, constitute an event of default ='
<br /> under this mortgage: At Mortgagee's ontion, Mortgagor will pay a "late charge" not exceed- �
<br /> ing four per centum (� i'o) of any install rnent �vhen paid more than fifteen ( 15) days after the
<br /> due date thereof to cover the extra expense involved in handlingdelinquentpayments, butsuch '
<br /> � "late chai•be" shall not be payable out of the proceeds of any sale made to satisfy the indebted- ;<'
<br /> ness secured ]iereby, unless such proceeds are sut�cient to discharge the entire indebtedness and 'i
<br /> all propez� costs and expenses secur•ed thereby.
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<br /> ' 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br /> exceed the amount oP payments actually made by the Mortgagee, as trustee, for ground rents, taxas 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 Mortgagar for auch itenvs m•, at Mortgagee's option, as trustee,
<br /> s23a11 be refunded to Mort,gagor. If, however, such monthly payments shall not be svft'icient to pay such
<br /> items when the same shall become due and payable, then the 14lortgagor shall pay to the Mortgagee, as
<br /> G trustee, any amount 'necessary to make up the deficiency within thirty ( 30) days after �vritten notice from
<br /> the Mortgagee stating the amount of the deficiency, which notice may be given by maii. If at any time
<br /> the Mortgagox ahall tender to the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereUy, the Mortgagee, as trustee, sha11,
<br /> ', in compu£ing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumula�ed under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisioi�s oi ihis morigage resulting in a pubIic sa3e of tihe premises covered hereby, or if the
<br /> bIortgagee 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 e
<br /> � " amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the � � „ .,,
<br /> ' � iriterest' acerued and unpaid and the balance to the principal then remaining unpaid on said note. _ -• . „ Mu ' ' �` '
<br /> ; „.r, $ :
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- �S- � �
<br /> �; sion of the time of payment of the indebtedness or any part thereof secured hereby. "�`� '
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<br /> 5. ' Iie wilI pay ali ground rents, taxes, assessments, water rates, and other governmental or munici- �"�;,
<br /> pml charges,,fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this -
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<br />� mvrtgage, or the debt secured thereby, together with any other taxes or assessmenLs which may be levied .:
<br />� under the la,ws of Nebraska against the 14lorzgagee, or the legal holder of said principai note, on acconnt of � -
<br />� �his indebteangaR, except when `payment for all such iiems has tneretofore peen made under (a} of para-
<br /> gxaph 2 hereof, and he wiil promptly deliver the official receipts therefor to the Mortgagee. In default
<br /> i;hereof the h'Iox•t,gagee may pxy Lhe same. - .
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