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<br /> e TO HAVE AND TO HOLD the same unto lhe Mortgagee, us herein provided. Mortgagor represents to,
<br /> and covenants with, the Mortgugee, thut the Mortgngor hus gond riqht to s�lt und convey said premises ;
<br /> that they ure free from encumbrnnce, except ae hereinother«� ise recited ; that the Mortgagor �eill warrant
<br /> and defend the su;ne against the lawful cl�ims of alt persons whomsoever. Ma�tgagoc hereby relinquishes
<br /> all rights of homestead, all murital rights, eitlter in la�v or in equity, and all other contingent interests of
<br /> the Mortgag�r in and to the ubove-desc:ibed premises.
<br /> � PROVIDED ALWAYS, nnd these presente are executed and delivered upon the following conditions, to
<br /> Wlt :
<br /> Mortgagor agrees tu puy to the Mortgngee, or order, the aforesaid principal sum with interest from date
<br /> at the rate of , �ight and One }Ialf per centum ( 8 • 5�/0 ) per annum on the unpaid bnlance until paid.
<br /> The said principal and interest shall be payable nt the otfice of I'irst Pederal Savings �nd Loan
<br /> p oci tion of Lin oJ.n
<br /> in Nebraska , or at such other place fls the lio�i�er o� the note mny c�esignite in
<br /> writing delivered ar mailed to the Mortgagor, in monthly installments of One Hundred Sixty One and 48�100
<br /> Dollars ($ 161 . 48 ) , commencing on the first day of Au�ust , 19 76 , and continuing on
<br /> the first dny of eacli month tliereafter until said note is fully paid, except tlint, if not sooner paid, the tinail
<br /> �; hnyment of principal and interest shall be due and pay�ble on the fii•st day of J�Y 2006 . z��
<br /> according to the :erms of a certain promissory nute of even date herewith executed by the said Mortgagor.
<br /> The Mor. tgagor further agrees :
<br /> 1. He will pay the indebtedness, ns hereinbefore provided. Privilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtecLiess or 1ny 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 dnte received. Partial prepayment, other than on an instullment due date, need not be credited until
<br /> i tlte next following installment due date or thirty days after such prepayment, whichever is eazlier.
<br /> 2. Together �vith, 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 full
<br /> F. y 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 insuxance co��ering the mortgaged property,
<br /> plus taxes xnd nssessments next due on the mortgaged property ( all xs estimated by the Mort-
<br /> gagee, and of �ti�hich the 3lortgagor is notified) less all sums already plid thereFor divided by
<br /> the number of months to elapse before one tnor.tli prior to the date �chen such ground rents,
<br /> t ; premiums, taxes and assessmeuts «•i11 become delinquent, such sums to be held by b4ortgagee
<br /> ' � in trust to pay said �round retits, premiums, taxes and special assessments.
<br /> ( b) The aggregate of the amounts payable pursuant to subparagraph (a) und those payable on the
<br /> note secured hereby, shall be paid in a single pzyment each month, to be applied to t}te follo�v-
<br /> ing items in the order stated :
<br /> f. " ( I ) grounci rents, tlxes, assessments, fire and other hazard insurance premiums ;
<br /> � � ( II) interest on the note secured hereby ; and
<br /> ' Qti ) amortization of the principal o£ saicl note.
<br /> � ` An deficienc)• i �i the amount of an � such a gre ate monthl � r
<br /> y S g g y payment shall, unle4s ma�e bood
<br /> by the �Iortglgor prior to the due date of the nest such payment, constitute an event of default
<br /> under this mortgage. At �Iortgagee's option, ,llortg�gor will pay n "]ate charge" not exceed-
<br /> ing four per ceutum ( 4 �c ) of any installment �rhen paicl more than fifteen ( 15 ) days ttfter the
<br /> ;' , due da`e thei•eof to cover the extra expense im•oh�ecl in handling delinquent pa��ments, but such
<br /> "late charge" shnll not be pzyable out of the proceeds of any sale made to sntisfy the indebted-
<br /> ness secured hereby, unless such proceeds are suRicient to dischai•ge the entire indebtedness and
<br /> � ' flll proper costs and expenses secured thereby.
<br /> t ' 3, If the totnl of the puytnents made by the 111ortgagor under (¢) of paragraph 2 preceding shall
<br /> } exceed the amount of payments actually made by the 111ortgagce, as trustee, for ground rents, tnxes and
<br /> assessments or inaurance premiums, as the case may be, such excess shall be credited by the hfortgagee
<br /> ,': on subsequent payments to be made by the Mortgasor for sucli items or, at hSortgagee's option, as trustee,
<br /> shall be refunded to 5lortgagor. If, however, such mouthly payments shnil not be suf£cient to pay such
<br /> ' itema when the same shal] become due and payable, then the 14fortgagor shnli pay to the Mortgagee, as
<br /> � trustee, any amount necessary to malte up the deficiency within thii�ty ( 30 ) days after ��•ritten notice from
<br /> � the Mortgagee stating the amount of the deficiency, which notice may be given Uy mail. If at any time
<br /> ' the Mortgagor ahttll tender to the Moi�tgagee, in accordance ��•ith the provisions of the note secured
<br /> '' hereby, full payment of the entire indebtedness represented thereby, the bfortgagee, as trustee, shall,
<br /> � in computing the amount of such indebtedness, credit to the account of the nSortgagor any credit bllance
<br /> accumulated under the provisions of ( a) of paragraph 2 hereof. If there shall be a defuult under any
<br /> � of the provisiona of this mortgage resulting in a public sale of the premises covereci hereby, or if the
<br /> � Mortgagee acquires the property othenvise after default, the \fortgagee, as tivstee, shall apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is other�vise acquired, the
<br /> ; ' amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br /> � interest accrued und unpaid and the balance to the principa! then remaining unpaid on suid note. �
<br /> ¢ 4. The lien of this instivment shall remain in full force and �ffect during any postponement or exten- 4 � �
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. N `•
<br /> 5. He will pay all ground rents, taxes, nssessments, �vater rates, and other governmental or munici- �
<br /> pal charges, fines, or impositions, levied upon said premises and that hc �vill pay all taxes levied upon this `$
<br /> mortgnge, or the debt secured thereby, togetlier �eith anp other taxes or assessments ��•hich may be levied c�p
<br />�-�� under the ]a���s of Nebrnska against the i�Iortgagee, or the legal holder of said princip:�l note, on nccount of !r'
<br />�.�c ' this indebtedness, except �vhen payment for all such items h1s theretofore been made under ( a ) of para- '
<br />;ii� i1 h 2 hereof and he ���ill iom tl deliver the o(licial recei ts therefor to the \Iort z ce. In defnult
<br /> B '� P � P ' P Y P K� K
<br />^u� there0f the Mortgagee may pay the same.
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