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<br /> �' To H�vE nND TO HoLD the same wito the Mortgagee, as herein provided . Mortgagor represeids to,
<br /> and covenants �s-ith, the Moi•tgagee, tliat tlie Nfox•tgagor has good rigtit to sell and convey said premises ;
<br /> that they are free from encumbrance, except as hereinother�i�ise recited ; that the Mortga�or �vill «�arrant
<br /> and defend the same against the la�vful claims of all persons whomsoever. Mortgagor here'ay relinquishes
<br /> all i•ights of homestead, all marital rights, either in la�v �r in equity-, and all other contingent interests of
<br /> rthe Mortgagor in and to the above-desci•ibed premises:
<br /> ' PxovinEv ALwaYs, and tihese presents are executed and delivered upon the following conditions, to
<br /> wit :
<br /> � Mortgagor agrees to pay to the Mortga�ee, or order, the aforesaid principal sum with interest from date
<br /> � at the rate of eight and one half--- per centum ( 8 . 5'0 ) p�r� an�u� �n th� u5uu�a�d balance� u�ii��aid.
<br /> The said rinci �al and interest shall be a able at the ofi'ice of rs e era v ngs an a
<br /> � P t P Y Association of Zincoln
<br /> � in Lincoln , Nebraska , ox• at such other place as tiie holder of the note may designnte in
<br /> � writing delivered or mailed to the Mortgagor, in monthly inst111ments of ONE HUNDRED NINETY SIX AND 07 / 100--
<br /> Dollars ($ 196 . 07 ) , commencing on the first day of December , 1977 ' , and continuing on
<br /> J� the first day of eacli month thereafter until said note is fully paid, except that, if not sooner paid, tlie final
<br /> I� payment of principnl and interest shall k�e due and payable on the first day of November 2007 ; ali
<br /> according to the terms of a certain pi•omissoi•y note of even date herewith executed by the said A4ortgagor.
<br /> The Mortgagor further agi•ees :
<br /> 1. He will pay the iudeUtedness, as hereinbefore i�rovided. Privilege is reserved to prepay at any
<br /> time, �vithout premium or fee, tfie entii•e indebtedness or any part 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 untii
<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 Mm•tgagee, as trustee, ( mider the terms of this
<br /> trusY as hereinafter stated) on the first day of each month until said note is fully paid :
<br /> (a) A sum equal to the ground a•ents, if any, next due, plus the premiums that will next become due
<br /> and payable on policies of fit•e and other hazard insui•ance covering the mortgaged property,
<br /> plus taxes and assessments next due un the mortgaged property (all as estimated by the Mort-
<br /> gagee, and of �vhich the Mortgagor is notified ) less all sums already paid therefor dicided by
<br /> � the number of months to clapse before oiie month pi•ior to the clate when such ground rents,
<br /> ° premiums, taxes and assessrnents �vill �ecome delinquent, such sums to be held by Mortgagee
<br /> in trust to pay snid ground rents, premiums, taxes and special assessments.
<br /> � L) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br /> note secured I�ereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ( i ) gi•ound rents, taxes, assessments, fire anci other h2zard insurance premiums ;
<br /> � ( it ) interest on the note secured hereby ; and
<br /> (it1 ) a�nortization of the pi•incipal of said note.
<br /> Any deficiency in the amot�nt of any such aggregate mmithly �ayment shall, unless made good
<br /> � by the bfortgagor px•ior to the due date uf the next such payment, constitute an event of defauIt
<br /> under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br /> ing four per ce�itum ( 4 ^c ) of any install ment �vhen paid more than fifteen ( 15 ) days after the
<br /> due date thei•eof to covr,r the exti•a expense involved in handling delinquent payments, but such
<br /> "late charge" shail not be payable out of the pi•�ceeds of any sale made to satisfy the indebted-
<br /> ness secin•ed liereby, unless such proceec9s are sut2icient to discl�arge the entire indebtedness and
<br /> all proper costs and expenses secui•ed thereUy.
<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 Mortgagee, as trustee, for ground rents, ta.xes and
<br /> assessments or insurance premiums, as the case may be, such excess shali be credited by the Mortgagee
<br /> on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trust,�e,
<br /> shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br /> items when the same shall become due and payable, then the Mortgagor shali pay to the Mortgagee, as
<br /> trustee, any amount necessaiy to make up the deficiency ��ithin thirty ( 30) days after written notice from
<br /> the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shall tender to the 14Zortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shatl,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the prov9sions of ( a) of paragraph `L hereof. If there shalt be a default under any
<br /> of the provisioc� of this mortgage resulting in a public saie of the premises coverc�3 hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the M.ortgagee, 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 cred+' on the
<br /> interestaccrued and unpaid and the balance to the principal then rema�ning unpaid on said t�.+ ste . _, � . ..,
<br /> 4. The lien of this instrument sliall remain in full force znd effect durin� any postponement c*- exten - ' � �= u'�-� �
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. "» � �,
<br /> L5. He tivil] pay all gi'ound rents, taxes, assessments, water rates, and other governmental or munici- ,>j`i.
<br /> pal charges, fines, or impositions, levied "upon said premises and that he wili pay all taxes levied upon this ``�' +
<br /> mortgage, or the debt secured thereby, together with any other taxes or assessmeuts which may be levied
<br />� under the laivs of Nebraslca against the 1Vlortgagee, or the legal holder of said principal note, on account of
<br /> this indebtedness, excepi when payment for all such items has theretofore been made under ( a ) of para- � �
<br /> gx°aph 2 hereof, and He wi11 promptly deliver the offieial receipts therefor to the Mortgagee. In default
<br /> thereof the Mortgagee may pay the same. .
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