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<br /> 76- 0037 � 8
<br /> TO HAVE ANn TO HoLn the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br /> and covenunts with, the Mortgagee, that the biortgagor has good right to sel! and convey said premises ;
<br /> thut they are free from encumbrnnce, except as hereinother�ti�ise recited ; thut tlie Mortgagor �vill warrant
<br /> and defend the same against the lawfu] claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> all righte of homestead, all marital rights, either in la�v or in eyuity, and all other contingent interests of
<br /> rtliu Mortgagor in and to the above-described premises.
<br /> PROVIDED ALWAYS, und these presents are executed and delivered upon the following conditions, to
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<br /> ` � Mortgagor ugrees to pay to the Mortgagee, or order, the aforesuid principal sum with interest from date
<br /> ut the rate of eight and one-half per centum 8 , 5 jo ) per nnnum on the unpaid balance until paid.
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<br /> The said principal and interest shall be payable nt the o�ice of Pirst , Federal Savings and Loan
<br /> in Lincoln , or nt sucli other place°as�fie�i°o�'dei of t�i�°h°o��may designate in
<br /> writing delivered or muiled to the Mortgagor, in monthly installments of Tsao Hundred Porty- six And 06/100---
<br /> Dollars ($ 246 . 06 ) , commencing on the first day of August , is76 , and continuing on
<br /> the firat day of each month thereafter until said note is fully puid, except that, if not sooner paid, the finul
<br /> puyment of principal and interest shall be due and payable on the first day of July 2006 ; �i�1
<br /> according to the terms of a certuin promissory note of even date herewith executed by the said ➢'Iortgagor.
<br /> The Mortgagor further ugrees :
<br /> 1. He will puy the indehtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br /> time, �vithout premium or fee, the entire indebtedness or any part thereof not less thun the amount of one
<br /> installment, or one hundred dollurs ($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 prepayment, whichever is earlier.
<br /> 2. Together with, and in addition to, the monthly payments of principal and interest pnyable under
<br /> ' the terma of the note aecured hereby, Mortgagor will pay to Dfortgagee, as tivstee, ( under the terms of this
<br /> truab as hereinafter atated) on the first day of each month until snid 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 insurnnce 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 �vhich the Niortgagor is notifted ) 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 u�ill Uecome delinquent, such aums to be held by Mortgagee
<br /> in trust to puy said ground rents, premiums, taxes and special assessments.
<br /> ( 6) The aggregate of the amounts payable pursuant to subparagraph (a) ond those payable on the
<br /> note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ' ' ing items in the order stated :
<br /> � (i ) ground rents, taxes, assessments, fire and other hnzard insurance premiums ;
<br /> ( 1I) interest on the note secured hereby ; and
<br /> (1II ) nmortization of the principai of said note.
<br /> Any deficiency in the amount of any� such aggregate monthly payment shull, unless made good
<br /> by the :llortgagor prior to the due date of the next such payment, constitute an event of defnult
<br /> under this mortga�e. At .lfortgagee's option, ;llortgagor will pay a "late chttrge" not exceed-
<br /> ing four per centum (4 �'0 ) of any installment �rhen paid more than fifteen ( 16 ) days after the
<br /> due date thereof to cover the extra expeuse in��olved in handling delinquent payments, but such
<br /> "late charge" shali not be payable out of the proceeds of any s11e made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds are sufiicient 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 �fortgagor under ( a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, t�xes and
<br /> assessments or insurance premiuma, as the case may be, such excess shall be credited by the biortgagee
<br /> � on subsequent payments to be made by the Mortgngor for such items or, at A4ortgagee's option, as trustee,
<br /> ahall be refunded to lfortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br /> itema when the same ahall become due and payable, then the riortgagor shall pay to the blortgagee, as
<br /> trustee, ar�y amount necessary to make up the deficiency «�ithin thirty ( 30) da��s after ��•ritten notice from
<br /> the Mortgagee stating the amount of the deficiency, �vhich notice may be given by mail. If at any time
<br /> ' the Mortgagor shail tender to the hfortgagee, in accordance �s•ith the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the 1lortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit bulance
<br /> ncc,.mulated under the provisione of (a ) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage reaulting in a public sale of the premises covered hereby, or if the
<br /> hiortgagee acquires the property otherwise after defnult, the Diortgagee, 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 remuining to credit the Mortgagor under (a) of pnragraph 2 preceding, as a credit on the
<br /> interest uccrued and unpaid and the balnnce to the principal then remnining unpaid on said note. ,.; � . ,r ; ,
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- N a,
<br /> I sion of the time of payment of the indebtedness or any part tliereof secured hereby. s�' �;
<br /> L b. He will pay all ground rents, taxes, assessments, ��•rzter rates, and other governmental or munici- �
<br /> pul charges, fines, or impositions, levied upon said premises anJ that he will pay all taxes levied upon this �`- ' ''
<br /> mortgage, or the debt secured thereby, together �ti•ith any other taxes or nssessments �rhich may be levied �
<br /> under the laws of Ne6raska against the 1lortgagee, or the legal holder of said principal note, on account of _�
<br /> this indebtedness, except when payment for all such items hus theretofore been made wider ( a ) of pnra-
<br /> graph 2 hereof, and he «•ill promptly delieer the oflicial receipts therefor to the �Iortgagee. In default
<br /> thereof the�Mortgngee may pay the same.
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