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<br />° 7b- () � �1H51
<br /> To EIAVL nNu To IIoL� the same tmto the Murtgagec, ais I�erein provided. Ilfortgagor represents to,
<br /> and covenants with, thc Mortgagec, thnt thc ➢im•tgagor has qoo�l right lo scll <u�d convey said premises ;
<br /> that they are free from encumbrance, except as hereinother�visc ri�cited ; Lhnt lhe tl4ortgagor �vilt ���arrant
<br /> and defend the same ag�inst the It��s�ful claims of ali pcc5ons whomsoevc�•. nlortgagor hereUy relinqttishes
<br /> , all rights of homestead, all marital rights, either in law or in equiLy, and all ullter contingent intecesls of
<br /> rthe l�tortgagor in nnd to tlie above-described premises.
<br /> PROVIDED AL11'AYS, :md these presents are executed and delivered upon the fnilo�ving conditions, to
<br /> ,1 wit :
<br /> Diurtgagor agrees to pay to the Diortg�igee, or order, tlie �itores.�id principal sum with intei•est from d.ite
<br /> � at the rate of �' i�ht and one -hal!' per centum ( n . 5 ;'b ) ��er annum on the unpaid balance until paid.
<br /> ' The said principal and interest shall be puyable :it the oifice of t 'Y' �t '�ederal Savings and Loan
<br /> in Lincoln , or at such oLlter pla�c�'�3s�1����ib��r��f t#i���O���ay designate in
<br /> ' writinq delivered or mailed to the i�fortgaqor, in monthly installments ofOne Hunch•ed lii�;ht,y- � even and r2�100- � ;
<br /> ` Dollars ($187 . ?2 ) , commencing on tlie fi�st duy of OctoUer , 197b , aud continuing on
<br /> ; the fii•st day of each month the�rafter imLil s:iid note is fully paid, except tliat, if not sooner paid, tlie final
<br /> -'�I payment of princi��al �uid interest shall be due and payable on thc first day ot' SentemUer 2001 � �i��
<br /> according to the terms of n certlin promissory note of even date here�vith executed by the said Dtortgagor.
<br /> The Mortgagor further agrees :
<br /> ;f, 1 . He wili pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br /> ;' time, �+�ithout premium or i'ee, the entirc indebtedness or any Part thereof not Icss th�tn the amouut of one
<br /> installment, or one hundred dollars ($100 ,00) , whichever is less , Prepayment in full shall be credited on
<br /> the date received. Partial prepayment, other than on an installment due dute, 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, tlte monthly payments of principal nnd interest paynble under
<br /> � '?; the terms of the note sc�cured hereby, �fortgagor �vill pay to Mortgagee, as trustee, ( under the terms of this
<br /> trust as hereinafter stated ) on the first day of each mmith witil said notc is fully paid :
<br /> (a) A sum equal to the ground rents, if an}�, next duc, plus thc premiums that �vill next become due �
<br /> and pa�•able mi policies of (ire and other hazau•d insur:uicc covering the mortgaged property,
<br /> , '', plus taxes and assessments next due ou the mortgaged properl}• ( all as estimlted by the 31ort-
<br /> s
<br /> gagee, �nd of n�hich ihe btortgagur is nutiliedl less all sums alreadY Paid therefor divided by
<br /> ;� the number of monLhs to clapsc be[ore une mm�th prior to thc dnte ���hen such ground rents,
<br /> `?i premiums, tases and assessments �eill become delinquent, such sums to be held b,y 117ortgagee
<br /> ��:� in trust to pa}• suid ground i•ents, premiwns, taxes �uid special assessments. � �
<br /> t i' ( L ) The aggregatc of ihc amounts pa��able pursuaut to subparagraph (a ) nnd those payable on the
<br /> note secured Itereb��, shall be paid in x sin �;le payment e.ich month, to be applied to the follotv-
<br /> ing items in the order stated : � �
<br /> ( i ) ground rents, taxes, assessmc�rts , lire and other hazard insurance premiums ;
<br /> ( tt ) intemst on the note secured l�creb}� ; and
<br /> (1u ) umortization of the principal of said note. �
<br /> Any deficicnc�• in the amoturt of an>- sudi aggrcy;atc monthly pat�ment shall, unless m�tde good
<br /> bl' the Aloctgagor pcior to the dtte dute ot the next such pay�men�, constitute an eeent of default
<br /> '' undei• this mortga�,re. At .l[orlgngee's oi�tion, Jlortgagor �ti•ill pa5� a "late char�e" not exceed-
<br /> ing four per centum ( �1 ;��� ) of ;ui�• instull �ueiit �ct�eii plid more than fifteen ( 15 ) d��•s after the �
<br /> ' ' ' due datc thcreuf' Lo co�•er thr. exlra e�pense in�•uh•ed in handling delinquent payments, but such
<br /> ��� ��� "late charge" shall not be pa��able out of lhe procee� ls of any sale made to satisfy the indebted-
<br /> �; ' ness secm•ed hereby, wiless such procee�ls :u•e sutlicient to discharge the entire indebtedness and
<br /> � .? all pi•oper costs and expeuses secui•ed tliereby.
<br /> 3. If the total of the payments made b�� the lfortgagor under ( a) of paragraph 2 preceding shall
<br /> exceed the amount of payments actually made by the 3lortgagee, as trustce, for ground rents, taxes and
<br /> assessments or insurance premiums, as the case may be, such excess shall be credited by the nlortgagee
<br /> on subsequent payments to be made by ihe Biortgagor for such items or, at Mortgagce's option , as trustee,
<br /> shall be refunded to ,1[ortgugor. If, however, such monthly payments shall not be sufticient to pay such
<br /> items when the same shall become due and payablc, then Lhe nlortgagor shall pay to the bim•tgaqee, as
<br /> trustee, any nmount necessaiy to make up the deficiency n�ithin thirty ( 30 ) days ufter n'ritten notice from
<br /> the Mortgagee stating the amount of the deticiency, which notice may be given Uy mail. If at any time
<br /> the 14fortgagor shall tender to the Ilfortgagee, in accordance �+� ith the pi•ovisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the �Iortgagee, as trustee, sh�ll,
<br /> in computing the amount of such indebtedness, credit to the account of thc liortgagor any credit balance
<br /> accumulated under the provisions of ( a ) of paragraph 2 }tereof. If tlicre sh111 be a default under any
<br /> of the provisions of this mortgage resulting in a public sale of the premises covere�cl hereby, or if Che
<br /> Mortgagee acquires the property otherwise after default, the \fortgagee, as trustee, shall applp, ut the
<br /> time of the commencement of such proceedings, or at the time the piroperty is otherwise acquired, the
<br /> � . � lmount then remaining to credit the nlortgagor under ( a ) of paragi•aph 2 precedinq, as a credit on the �
<br /> interest a.ccived nnd impaid and the b�ilnnce to t}ie principal then remaining unpaid on said note. �,- � '
<br /> 4. The lien of this instrument shall remain in full force and efFect durin�; an�� poslponement or exten- � ;
<br /> Lsio�i of the time of pa5�ment of the indebteciness or any pai•t thercof secured hereb��.
<br /> 5. Iic «�ill pay all gi•ound rents, tuxes, assessments, ���ater rales, ,uid othcr go��erumental or munici- '�
<br /> r. '°
<br /> pal c}targes, fines, or impasitions, le��ied upon said premises and that he a'ill pa}� :ill tascs levicd upon this �p
<br /> mortgage, or the debt secui•eci thereby, togetlier �� ith any otLer t.�ses or assessments « hich muy be leeied �
<br /> under the laws of Nebraska againsttlte Nort�;aKee, or Lhe Iegal holder �>f' �aid princi �uil uute, on accuunt of �
<br /> ll�iis indebtedness, except ��•hen pa�•ment for all sucl� items has theretot'ure Lre�i nia�le un� ler ( n ) ul' �,:u•.i-
<br /> qrapii 'L liereof, aind he n' ill promptly deliver the ullici;il receipt � therefur to tli � � > l �iri �a�:��o. lu � i � �fuiill
<br /> � thcrcof tlu Sloi'l�ugec ma�' pay thc sumc.
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