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<br /> To HAVE ntvu To HoLn the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br /> i and covenants with, the Mortgagee, that the 114ortgagor has good right to sel! and cmivey said premises ;
<br /> that they are free from enewnbrance, except us hereinotherwise recited ; that the Moitgagor �ti�ill wurrant
<br /> and defend the same against the lawful claims of uIl persons �vhomsoever. Mort�ugor hereby relinquishea
<br /> (� all rigl�ts of homesteAd, all maritul rights, either in la�v or in equity, and all other contingent interests of
<br /> I ; the Moi•tgagor in and to the above-described premises.
<br /> ; PitovtDED ALVVnxs, and these presents are executed and delivered upon the following wnditions, to
<br /> wit :
<br /> D4oi•Cgagor ag��ees to pay to the Mortgagce, or order, the aforesaid principal sum with interest from date
<br /> at the rate of Eight & One-Half per centum (� . 50�'0 ) per annum on the unpnid bal�nce until paid.
<br /> ' ` The eaid principal and interest shall Ue paynUle at the oHice of Danco Mortgage Company
<br /> ' in Waterloo , Iowa , or at such other place As the holder of the note may designite in
<br /> ; writing delivered or mailed to the �Iortglgor, in monthly installments ofOne tlundred SevenCy-One & 49 / 100
<br /> Dollars ($ 171 . 49-- - �; commencing on the first day of September , 19 76 , and continuing on
<br /> the first day of ench month therelfter until snid note is fully paid, except that, if not sooner puid, the final
<br /> payment of principal und interest shnll Ue due and payable on the first day of August , 2006 ; al]
<br /> ; according to the terms of a certain promissory note of even date Iterewith executed by the snid Mortgagor.
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<br /> The Mortgagor further agrees :
<br /> 1 . He will pay the indebtedness, as hereinbefore provided. Privi]ege ia reserved to prepay at any
<br /> time, without premium or fee, the entire indebtedness or any plrt thereof not less than the amount of one
<br /> j installment, or one hundred dollazs ($100.00) , whichever is less. Prepayment in full ahull 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 nfter such prepayment, whichever is eazlier.
<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, Moi�tgagor 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 fully paid :
<br /> (u) A aum eyuul to tiie �iround rents, if any, next due, plus the premiums that will next become due
<br /> ; and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br /> plus taxes and assessments next due on the mortgaged propei�ty ( all as estimated by the Mort-
<br /> gagee, and of �ti�hich the ➢Zortgagor 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 assessmeuts «�ill become delinquent, such sums to be held by riortgagee
<br /> `s in trust to pay said ground rents, premiums, taxes and special assessments.
<br /> � ( L ) The aggregate of the amounts payable pursuant to subparagraph (¢) and those payable on the
<br /> note secured hereb>�, shali 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 hazard insurnnce premiums ;
<br /> ( tI ) intereston the note secured hereby ; and
<br /> ( [1i) nmortizntion of tlie principal of said note.
<br /> Any deficiency in the amount of any such aggregate mmithly payment shnll, unless made good
<br /> by the Aiortgugor prior to the due date of the next such payment, constitute nn event of default
<br /> under this mortgage. f1t llortgagee's option, \[ortg�gor wil! pay a '9ate charge" not exceed-
<br /> ing four per centum ( 4 ;'0 ) of any install meiit �clien paid more than fifteen ( 15) days after the
<br /> due date thereof to cover the extra expense ineohed in handling delinquent payments, but such
<br /> '9ate charge" shall not be p13•able out of the proceeds of any sale made to satisfy the indebted-
<br /> �' ness secured hereby, unless such proceeds are sutticieiit to discharge tlie entire indebtedness and
<br /> all proper costs nnd expenses secured thereby.
<br /> 3. If the total of the payments made by the Mortgagor under ( a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actually made by the n4ortgagee, as trustee, for ground rents, taxes and
<br /> assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br /> on subsequent payments to be made by the Nfortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Tioi�tgagor. If, ho�vever, such monthly payments shall not 6e sutFicient to pay such
<br /> itema when the same shall become due and payable, then the D3ortgagor shnll pay to the Mortgagee, as
<br /> trustee, any amount necessary to mnke up the deficiency «�ithin thirty ( 30) days after n•ritten notice from
<br /> the liortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor ahall tender to the Mortgagee, in accordunce «�ith the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the hiortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumulttted under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage resulting in a public sale of the premises covereci hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the illortgagee, as trustce, shall apply, at the
<br /> time of the commencement of such proceedinga, 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 and unpaid and the balance to the principal then remaining unpaid on said note. , .:, I .. �,, ; .
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<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- N :o:;
<br /> Lsion of the time of payment of the indebtedness or any part thereof secured hereby. �
<br /> 5. He will pay all ground rents, taxes, assessments, water rltes, and other governmental or munici- eet
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<br /> ' pal charges, fines, or impositions, levied upon said premises and that he �i�ill pap all taxes levied upon this � - , ,
<br /> mortgage, or the debt secured thereby, together �sith any other tases or assessments which may be levied tp . .
<br /> under the ]n�vs of Nebraska against the l�iortga�ee, or the legal holder of said principal note, on account of
<br /> this indeUtiedness, except �shen payment for all such items has theretofore been made under ( a ) of para-
<br /> x graph 2 hereof, and he �ti•ill promptly deliver the o(licial receipts therefor to the �lortgagee. In default
<br />� � thereof the hiortigagee may pay the same.
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