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<br /> " 000381
<br /> ` To HAVE AND To IIoLD 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 ;
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<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor will warrant
<br /> and rlefend the same ugainsttlteiawfalclaims•of all persons whomsoever. Mortgagor hereby relinquishes
<br /> all rights of homestead, all marital -lights, either in law or in equity, and all other contingent interests of
<br /> the•Mor ;gagor in and :to the above-described premises.
<br /> PROVIDED ALWAYS, and these presents ,are executed 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 /> at the rate of Nine per centum ( 9 . 0'ib ) per_annum .on the unpaid balance until paid.
<br /> The said principal and interest shall be payable at the office of
<br /> First Federal Savings and Loan
<br /> Aes eiat • Di` Zinc tn •
<br /> In Lincoln or at such other place as the homer of to note mayaesignate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of Two Hundred Sixty One and 51/100 •
<br /> Dollars ;( $ .26L 51 ) , commencing on the first day of March , 1O 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 on the first dayof .Februery , 20b6 - ; 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, without premium 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 /> the date received. Partial prepayment, other than on aninstallment 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 hereinafterstated ) on the first day of each month until said note is fully paid: •
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<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 themortgagedproperty,
<br /> plus taxes and assessments nest 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- i •
<br /> ing items in the order stated :
<br /> ( I ) ground rents, taxes, assessments, fire and other hazard insurance premiums ; ,s . -
<br /> ( II ) interest on the note secured hereby ; and
<br /> (In ) amortization of the principal of 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 1
<br /> -under this mortgage. At Mortgagee's option. Mortgagor will pay :a 'late charge" not exceed-
<br /> ing four per centum ( 49i: ) of any installment when paid more than fifteen ( 15 ) days after the .
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<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 /> ness secured hereby, unless such proceeds are sufficientto 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 tinder ( a ) of paragraph 2 preceding shulI
<br /> exreed 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 such
<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 tender to 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. •
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<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. IL 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 4( 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. The lien of this .instrumentshallremain in full force and effect during any postponement or exten-
<br /> sion of the time :of payment of the indebtedness or any part thereof secured hereby.
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<br /> 5. He will pay all ground rents, taxes, .assessments, water rates, and other governmental or munici-
<br /> pal charges, fines, or impositions, levied upon said premisesandthat 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
<br /> id under the laws of Nebraska againstthe Mortgagee, or the legal holder of said principal note. on account of
<br /> this "indebtedness, except when payment 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 thebl n tgagee.may pay the same.
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