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<br /> To HAVE AND To HOLD the same unto the Mortgagee, as herein provided . Mortgagor represents to,
<br /> and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises ; •
<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> r all rights of homestead, all marital';rights, either in law or in equity, and all other contingent interests of
<br /> Jthe,Mortgagor in and , to the above-described premises.
<br /> 3" ' PROVIDED ALWAYS, and. these presents are executedand delivered upon the following conditions, to
<br /> '? r.
<br /> wit :
<br /> r ) Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> at the rate of nine per centum ( 9 . 0 % ) per annum on the unpaid balance mtil paid.
<br /> The sold principal and interest shall be payable at the office of It i. rst Federal£S��a,vi s and. Loan
<br /> in Lincoln , or at such other places as€h1e holder of the n e may designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of One Hundred . Forty- and ; 81/ 100 - - - -
<br /> Dollars ($ 140 . ) , commencing on the first day of February 19 76 , and continuing on '
<br /> the first day of each month thereafter 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 onthe first day of January 2006 ; all
<br /> according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />* The Mortgagor further agrees :
<br /> 1 . He will pay the indebtedness, as hereinbefore provided . Privilege is reserved to prepay at any •
<br /> time, withoutpremium or fee, the entire 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 /> z 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 monthly 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 until said note is fully paid : _
<br /> (a) A sum equal to the ground 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 due on the mortgaged property ( all as estimated by the Mort-
<br /> gagee, and of which 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 and assessments will become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay said ground 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 payment each month, to be applied to the follow
<br /> 51 ing items in the order stated : ;
<br /> ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> ( it ) interest on the note secured hereby ; and
<br /> ( in ) amortization of the principalof 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 of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, Mortgagor will pay a " late charge" not exceed-
<br /> ing four per centum ( 4 % ) of any installment when 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 charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> nesssecured hereby, unless such proceeds are sufficient 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 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 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 sufficient to pay sues
<br /> items :when the same shall become due and payable, then the Mortgagor shall 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 Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shall tenderto the Mortgagee, in accordance with the provisions of the note secured . _
<br /> hereby, full 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 under the provisions of ( a ) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br /> Mortgagee 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.
<br /> - v 4 . The lien of this instrument shall remain in full force and effect during any postponement or exten- t,
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br /> !••" 5." He duial pay all ground rents, taxes, assessments, water rates, and other governmental or munici-
<br /> pal charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this
<br /> mortgage, or the debt secured thereby; together with any other taxes or assessments which may be levied ;l
<br /> under the laws .of Nebraska against the Mortgagee, or the legal holder of said principal note , on account of
<br /> thisindebtedness, except whenpayment for all such items has theretofore been made under ( a ) of para-
<br /> graph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgagee . In default
<br /> thereof the Mortgagee may pay the same.
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