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<br /> To HnvE nNu To Ho�n the aame unto the Mortgagee, as herein provided. n7ortgagor represm�ts tu,
<br /> and covenanta with, the Mortgagee, thnt the '.14m�tgagor h�s good i•iglit tu scll and convey suid premises ;
<br /> thnt they are free from encumbrance, except as hereinotherwise recited ; tliat the Mortgu�or �vill ti�nrrant
<br /> and defend the sume against the lawful ciaims of nll persons whomsoever. blortglgor hereby relinquishes
<br /> all rights of homestead, all mni'ItAI Pl$IltB� either in ln��� or in equity, and all otUer contingent interests of
<br /> the Mortgagor in und to the above-described premises.
<br /> PRovtuEn ALwnYs, and these presents are executed and delivered upon the following conditions, to
<br /> wits
<br /> n4ortgagor agrees to pay to the Nfortgngee, or order, the aforesaid principal sum with interest from datc
<br /> at the rate of �ight and One 3Ialf per centum ( 8 • 5io ) per annum on the unpaid balance until paid.
<br /> The said principnl and interest shall Ue payuble at the otlice of 1'�lrst Federal , Savings , and Loan
<br /> AssQCiat x� oi' Linco1n ,
<br /> in Nebraska , or at such otlier place as tlie holder of glle note may des�gnate in
<br /> writing delivered or mailed to the blortgagor, in monthiy installments of Two liundred Thirty 'Phree and 94�100
<br /> Dollura (� 233 • 94 ) , commencing on the first day of July , 19 7� , and continuing on
<br /> the first day of ench montli therenfter until said note is fully paid, except that, if not sooner pnid, the tinal
<br /> payment of principal and interest shnll be due and payable on the first duy of Jur� 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 wil! pay the indebtedness, as hereinbefore provided. Privilege ia 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 xeceived. 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 Mortgngee, as trustee, ( under the terms of this
<br /> � ' trust as hereinafter atated) 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 flre and other haznrd insurance covering the mortgaged property,
<br /> plus taxes and assessments next due on the mortgaged property ( all as estimated by the 1�fort-
<br /> ; i gagee, and of «�hich the niortgagor is notified ) less all sums already paid therefor divided by
<br /> the number of months to elapse before one month prior to the date �vhen such ground rents,
<br /> - premiums, taxes and assessments «�ill 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 paynble pursuant to subparagraph (a) and those payable on the
<br /> ; . note secured hereUy, shall be paid in a single payment each month, to be applied to the follo�v-
<br /> ing items in the order stated :
<br /> ` ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> � ( u ) interest on the note secured hereby ; and
<br /> ' (iIt ) nmortization of tlie principal of said note.
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<br /> ' Any deficiency in the amowit of an5• such nggregate monthly payment shall, unless made good
<br /> by the �Iorlgzgor prior to the due date of the next such pa5�ment, constitute an event of default
<br /> � under this mortgage. At 14ortgagee's option, llortgagor will pay a '9ate charge" not exceed-
<br /> t ing four per ccntum (4 % ) of any instaliment �ti•lien paid more than fifteen ( 15 ) days after the
<br /> due date thereof to co��er the extra expense in�•oh�ed in handling delinquent payments, but such
<br /> "late charge" shall not be paS�able out of the proceeds of any s�le made to satisfy the indebted-
<br /> �; ness secured hereby, unless such proceeds nre sut3icient to disch�rge the entire indebtedness and
<br /> � all proper costs and expenses secured thereby.
<br /> t ` 3. If the total of the payments made by the l�Zortgagor under (a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actunlly made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> � lssessments or insurance premiums, as the case may be, such excess sh11! be credited by the 117ortgagee
<br /> on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> ahall be refunded to l'fortgagor. If, ho«�ever, such monthly payments shnll not be sufficient to pay such
<br /> "s itetna when the same shall become due and payable, then the ➢fortgagor shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to mnke up the deficiency �+�ithin thirty ( 30) days after «�ritten notice from
<br /> % the riortgagee atating the amount of the deficiency, which notice may be given by mniL If at nny time
<br /> '� the Mortgagor ahall tender to the 114oi�tgagee, in accordance �vith the provisions of the note secured
<br /> � hereby, full payment of the entire indebtedness represented thereby, the ,llortgagee, as tivstee, ahall,
<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 reauiting in a public sale of the premises covered hcreby, or if the
<br /> lltortgagee acquires the property otherwise after default, the lfortgagee, as h•ustee, shall npply, at the
<br /> time of the commencement of such proceedings, or at the time the property is othei�vise acquired, the
<br /> amount then remaining to credit the Mortgugor under (¢) 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 /> $ .._. ! ,r; : =.
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- ,, ._,
<br /> sion of the time of payment of the indebtedness or any part thereof secw•ed hereby. N `�
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<br /> 5. He �ti�ill pay all ground rents, taxes, assessments, n'ater rates, nnd other governmental or munici- �
<br /> pal charges, fines, or impositions, levied upon said premises and that he «�ill pay all taxes levied upon this � ;
<br />� mortgage, or the debt secured thereUy, together witn any other taxes or assessments which may be levied �
<br /> �� under the la�ve of Nebraska against the i�fortgflgee, or the legal holder of snid principal note, on account of
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<br /> a`� this indebtedness, except «�hen payment for all such items has thei•etofore Ueen made under ( a) of para-
<br />'" � graph 2 hereof, nnd he ��•ill promptly delicer the of£�cial receipts therefor to the �fortgngee. In default
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<br /> y�=: � thereof xhe n�ort�agee may pay the same.
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