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<br /> To IIAVL nNn 'Po Ilot,n tl�c atime unto Uie illortgngce, as herciu provided. Nlortgagor represents tu,
<br /> and covenants with, LLe Nlort�agee, tl�at the 11lortgagor has goud right to scll and convey said premisrs ;
<br /> that tliey are free fi•om eucumbrance, excepb as hereinoCher���isc reciled ; thal tl�e MorCgagor ���ill �rarrant
<br /> a�id defend the same against the la�vful claims of all persons whmnsoever. hlurtg.�goi• hereby relinquislics
<br /> �ill rights of homestead, all marital rights, either iu Iai�v or in eryuiLy, xnd nll other cmitingent interests of
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<br /> the Ntortgagoi• iu nnd to U�e nbovadesc��ibed premises.
<br /> PROVIDCD ALWAYS, :�nd these presents .u•e executed and dclivered upai Lhe follo�vin� conditions, to
<br /> wit :
<br /> Nlortgmgor agrees to pay to the 111oi•tgagce, oi• order, thc :ifores:iid pi•iucipal sum �vitli intecest fi•om daite
<br /> al; tlie rate of �i�ht and one-Hal.f pei• centum ( B • 5 %o ) �,��,{l�u�t���g�l�c �u�����c�l�al�&e u��'i��p<iAr��
<br /> The said pi•incipal and intei•est shall be payable at tiie ottice of � �ociation
<br /> oF Lin,co7�
<br /> in Nebraska , or at sucl� other pi:ice as tl�e I�older of the note may designaite in
<br /> � writing delivered or mniled to the i1tortgagor, in monthly inst�llments of One hundred ei�hty- six and 38�100-
<br /> Dollt�rs ($ 1II6 . 38 ) , commencing on thc first d<<y of July , 19 76 , :�nd continuing on '
<br /> the first d1y of eacli month thereafter until snid note is fully paid, except thnt, if not sooner p1id, 'the finnl
<br /> r ' pttyment of principal and interest shnll be due ancl payable ai the first da,v of June , 2006 ; all
<br /> �ccording to the terms uf a certain promissory note of ceen d�itc here�eith executed by the said Mortgagor.
<br /> Tl�e Mortgagor further agrces :
<br /> F '• 1. He will pay the indebtedness, as hcreinbel'oce pi•ovided. Privilege is reserved to prepay at any
<br /> ,, ; time, �ti�ithout premimn or fee, the eutire indebteduess m• any purt thereof not less thau 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 until
<br /> the next following installment due date or thirty days after such �repayment, whichever is earlier.
<br /> � � 2. Together with, and in addition to, the monthly payments of principal and interest pnyable under
<br /> ` the terms of the note secured hereby, ➢tortgagor «�ill pay to Mortgngce, as trustee, ( mider the terms of this
<br /> n, trust as hereinafter stated) on the first day of each month until said note is fully paid :
<br /> (a.) A sum cyual tio the grottnd rents, if any, next due, ph�s the premiums that �vill next become due
<br /> and pnyxble on policies of fire and other haznrd insivance covering the mortgaged piroperty,
<br /> plus taxes �uul assessments next due ai lhe mortgagec( property ( all �s estimated by the biort-
<br /> � ' gagee, and of u hich the \lortgagor is notified ) less all swns already paid therefor divided by
<br /> the number of months to cl.�pse beforc one month prior to lhe ciate u�hen such ground rents,
<br /> premiums, tnxes a��d assessmeuts �vill bccome delinquent, such sums to be held b.v Mortgagee
<br /> '� in trust to pn�� saicl groimd rents, premiums, tates and special assessments.
<br /> ( L ) The aggi•egate ol' the amuuuts pa��able pui•suant to subparagraph (a) and those payable on the
<br /> x ; note secured hereby, shall be paid in a single payment eacli month, to be applied to the follow-
<br /> ` � ing items iu the order stated :
<br /> ( i ) ground rents, tases, assessmcuts, firc and othe!� hazard insurance premiuma ;
<br /> p. : ( t1 ) interestonthenotesecucedhereby ; nncl
<br /> : ( ta ) nmortizution of tl�c principal of snicf notc.
<br /> ` Any deficienc�� iu the amounL of :uiy such aggregate monthlv payment shall, unless made good
<br /> by tlie 1Iortgagor prioc to lhe due �I.ite of the next such p.�}�ment, constitute an event of default
<br /> � ': under this mortgage. At ltortga�,�ce's option, \lm•tg:�gor will pay �i "]ate charge" not exceed-
<br /> x - ing four per ceutum ( 4 ",b ) of any inetall ment �chen paid mm•e Lhan tifteen ( lu ) days after the � �
<br /> � ` due dale tliereof to cover the extrt expense in��oh•ed in handling delinquent pa��ments, but such
<br /> '` ' "late chau•ge" shall not be pat�able out of Lhe prc�ceeds of any sale made Co satisfy the indebted-
<br /> - ness seciu•ed hereby, unless such proceeds are sulticient to discharge the entire indebtedness and
<br /> � .ill propei• costs and expenscs seciu•ed thei•eU}�.
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<br /> k : 3. If the total of the payments mnde by the :1lortgagor under (a) of paragraph 2 preceding shnll
<br /> exceed the amount of payments actually made by the blortgagee, as trustec, fa• gromid rents, taxes and
<br /> nssessments or insurance premiums, as the case may be, such excess shall be credited by the Dfortgagee
<br /> on subsequent payments to be made by the 1ltortgngor for such items or, at Mortgagee's option, as trustee,
<br /> �S shall be refunded to Dlortgagor. If, ho�sever, such monthly p<iyments shall not be sufficient to pay such
<br /> items when the same shall become due and payable, then the �[ortgagor shalt pay to the Mortg�igce, as
<br /> trustee, any �mount necessary to make up the deficiency ��•ithin thirty ( 30 ) days after «-ritten notice from
<br /> the hiortgagee stating the amount of the deficiency, which notice may be given by maiL If at 1ny time
<br /> the hiortgagor shall tender to the Mortgagee, in accordance �cith the provisions of d�e note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the �fortgagee, as trustee, shall,
<br /> in computing the amount of such inclebtedness, credit to the account of the Mortgagor any credit balance
<br /> ac:cumulated undcr the provisions of ( a) of paragraph `L hereof. If there shnll 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 /> ' Afortgagee acquires the propert;; otner;�i�e aFter default, the ltortgagee, as !ivstee, shall apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is other«�ise acquired , the
<br /> amount then remaining to credit the I14ortgagor under ( u) of parugraph 2 pmceding, as a credit on the
<br /> interest accruecl and unpaid and the balance to the principa! then remaining unpaid on said note. , � .
<br /> 9. The lien of this instrument shall remain in full farce and ef£ect during any postponement or exten- N '� : ,
<br /> sion of the time of pa}�ment of the indebtedness or any part thercof secured hereby. �
<br /> �. IIe �ti�ill pap aq ground rents, taxes, assessments, n�ater rates, and ot}iei• qovernmental or munici- I ;� ,
<br /> pal charges, fines, or impositions, levied tipon said premises and that hc will pay all taxes leviccl upon this r� '
<br /> 4 mortgaqe, or the debt secured thereUY, together �cidi nny other tases or ;issessmenis �chich may be levied � '
<br /> tmdcr the laws o£ tiebraskl against the 1Sm•tgagee, or the legal holder of said principal note, on account of
<br /> ` lhis indeUtedness, exce it «�hen
<br /> w� 1 pn}�ment for all such items has thei•etoforn bcen made undcr ( a ) of para-
<br /> t:�`;�. graph ? hereof, nnd he �cill promptly delicer tl�e o�licial receipts thei•efoi• to Uie 1loi•tgn�;ee. In �lefault
<br />�'��" thercof the blortgagec mny pay thc same.
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