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<br /> 76' 00380 � �
<br /> To HnvE nND To HoLn the eame unto the Mortgugee, as herein provided. Mortgugor represents to,
<br /> and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises ; :
<br /> that they are free from encumbrunce, except as hereinotlterwise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> all rights of homestead, all maritul riglits, either in law or in equity, and all other contingent interests of
<br /> , r the Mortgagor in and to the ahove-deacribed premises.
<br /> PRpvIDEn ALwAYs, and these presents are executed and delivered upon the following conditions, to
<br /> wit : .
<br /> B7ortgagor agrees to pay to the hfortgagee, or order, the afores�id principal sum with interest from date
<br /> at the rate of eight and one-half per centum ( 8 , 5 % ) er annum on the unpaid balance until paid.
<br /> The said principal and interest shall be payable at the oftice of �irst Federal Savings ond Loan
<br /> in Lincoln , or at sueh other place�s�`�����c�e�of�he���[$y designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of One Hundred Three nnd 80/100- -- :
<br /> Dollara (g 1�3 • 80 ) , commencing on the first duy of September , 19 76 , and continuing on
<br /> the firat day of each month thereafter until snid note is fully paid, except that, if not aooner puid, tlie final
<br /> payment of principal and interest shall be due xnd payable on the first day� of August 2006 ; all
<br /> � according to the terms of a certain promissozy note of even date herewith executed by the suid Mortgagor.
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<br /> % The Mortgagor further agrees :
<br /> 1, He will pay the indebtedness, as hereinUefore provided. Privilege i9 reserved to prepay at any
<br /> : . i time, without premium or fee, the entire indebtedness or any part thereof not less than the amouut of one
<br /> installment, or one hundred dollaxs ($100.00) , whichever is less. Prepayment in full shnll 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, nnd in addition to, the monthly payments of principal and interest pnyable under
<br /> the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, ( under the terms of this
<br /> truet as hereinafter stated) on the firat day of each month until said note is fully paid :
<br /> (a) A sum equal to the ground rents, if auy, next due, plus the premiums that wip next become due
<br /> and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br /> i plus taxes and ussessments next due on the mortgaged propei�ty ( all as estimated by the Mort-
<br /> ` � gagee, and of n�hich 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 tvhen such ground rents,
<br /> ; premiums, taxes ttnd assessmeuts �cill become delinquent, such sums to be held by ➢lortgagee
<br /> in trust to pay said ground rents, premiums, taxes and special assessments.
<br /> ' i ( b ) The aggn•egate of the amounts payable pursuant to subparagraph (¢) and those payable on the
<br /> ;> : •� note secured hereby, shall be paid in a single payment eacli 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 /> ( II ) interest on the note secured hereby ; and : . �� . �- :
<br /> ( IIc ) lmortization of the principal of said note.
<br /> Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br /> by tiie Alortgagor prior to the due dlte of tlie next such payment, constitute an event of defnult
<br /> i under this mortgage. At _llortgagce's option, ,1lort�agor will pay a "late charge" not exceed-
<br /> ing four per centum (4 ;c ) of an}� install ment «•hen paid more than fifteen ( 15 ) days after the
<br /> due date thei•eaf to cover the extia expense invol��ed in handling delinquent payments, but such
<br /> "late charge" shall not be pa�•able out of the proceeds of any sale made to satisfy the indebted-
<br /> n' . ness secured hereby, tmless such proceeds are sufticient to discharge the entire indebtedness and
<br /> all piroper costs and expenses secured thereby.
<br /> s 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actuaily made by the hiortgagee, as trustee, for bn•ound rents, taxes and
<br /> assessments or insurunce premiums, as the case may be, such excess shall be credited by the Mortgagee
<br /> on aubaequent paymente to be made by the Aiortgagor for such items or, at hiortgagee's option, as trustee,
<br /> ' shall be refunded to ➢lortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br /> items when the same ahall become due and payable, then the :vlortgagor shall pay to the I14ortglgee, as
<br /> trustee, any amount necessary to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortgagee atating the amount of the defic.iency, �vhich notice may be given by mail. If at any time
<br /> the Mortgagor shall tender to the Mortgagee, in accordnnce with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the Dlortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> � accumulated under the provisions of (¢) of paragraph 2 hereof. If there shall Ue 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 /> ➢Zortgagee acquires the property othenviae after default, the niortgagee, as trustee, shall npply, at the
<br /> time of the commencement of such proceedinga, or at the time the property is otherwise acquired, the
<br /> amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br /> ' interest accrued and unpaid and the balance to the principul then remaining unpaid on said note. -�� �; .,;r , �
<br /> 4. The lien of this instrument shall remain in full force and et£ect during any postponement or exten- � tv
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. �
<br /> L 5. He will pay al! ground rents, taxes, assessments, �vuter rates, and other governmental or munici- si` r
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<br /> pal charges, fines, or impositions, levied upon said premises and thnt he wiil pay all taxcs levied upon this � =
<br /> mortgage, or the debt secured thereby�, together ��•ith any other taxes or assessments �vhich may be levied tA
<br /> under the la�vs of Nebraska against the ltortgagee, or the legal holder of said principal note, on account of -
<br /> this indebtedness, except ti��hen payment for all suc}i items has theretufore been made under ( a) of para-
<br /> graph 2 hereof, and he will promptly deliver the oflicial receipts tiierefor to tlie �Iortgagce. Itt deFault
<br /> thereof th,e Mortgagee may� pay the same.
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