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<br /> TO HAVE ANn To HOI.n the same unto the Mortgagee, as I�erein pro��ided. Mortgagor represents to,
<br /> ' and covenants with, the Mortgagee, that the 1lfortgagor has good right Co scll and convey said premises ;
<br /> that they are free from encumbrunce, except as hereinotherwise recited ; that the Mortgagor �sill warrant
<br /> and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> i all righta of homestead, all murital rights, either in Iaw or in equity, and all other contingent interests of
<br /> the Mortgagor in and to the above-described premises.
<br /> PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br /> wit :
<br /> T4ortgagor ngrees to pay to the Mortgagee, or order, the aforesnid principal sum with interest from date
<br /> at the rnte of eight and one-half per centum ( 8 . 5 % ) per annum on the unpaid balance until paid.
<br /> The said principal and interest shall be payaUle at the office of Firs t Pederal 5avings and Loan
<br /> Asso a i o inc ln
<br /> in Lincoln , or at such other place as �lie �o�er o�f t�ie no�e may designate in
<br /> writing delivered or mailed to the hlortgagor, in monthly installments of Two Hundred Twenty-one and 44�100-
<br /> Dollara (� 221 . 44 ) , commencing on tlie first day of November , 19q( , and continuing on
<br /> � `, the first day of each monttt thereafter until slid note is fully paid, except that, if not sooner paid, the final
<br /> payment of principal and interest shall be due and payable on the first day of October 2001 ; all
<br /> according to the terma of a certain promissory note of even date herewith executed by the said Mortgagor.
<br /> The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, 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 wie
<br /> installment, or one hundred dollazs ($100.00) , whichever is less. Prepayment in full shall be credited on
<br /> the dute received. Paxtial 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 payable under
<br /> the terms of the note secured hereby, bfortgagor �sill pay to Mortgagee, ls trustee, ( under the teims of this
<br /> ;: ; trust us hereinafter atated) on the first day of each month until slid note is fully paid :
<br /> `i ;
<br /> (a) A sum equal to the ground rents, if any, next due, plus tlie premiuma that will next become due
<br /> » i and payable on policies of fire and other hazard insurance 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 �ehich 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 dute when such ground rents,
<br /> ' ' premiums, taxes nnd assessments �vili become delinquent, such sums to be held by Mortgagee
<br /> �; ; in trust to pay� said ground rents, premiums, taxes and special assessments.
<br /> ' (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br /> ; i note secured hereby, shalt be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> £ ' ( i ) ground ren!s, taxes, assessments, fire and other hazard insurance premiuma ;
<br /> (II ) interest on the note secured hereby ; and
<br /> � (nI) atnortization of the principal of said note.
<br /> s ' Any deficiency in the antount of any such aggregate monthly payment shall, unless made good
<br /> � ; by the .11ortgagor prior to the due d�te of the next sucli payment, constitute an event of default
<br /> under this mortgage. At llortga�ee's option, llortgagor will pay a "late charge" not exceed-
<br /> ;; , ing four per centum (4 ;c ) o[ any install ment ��•hen paid mm�e than fifteen ( 15 ) days after the
<br /> 4- ; due date thereof to cover the extra expense im�oh�ed in handling delinquent payments, but such
<br /> "late charge" shall not be payable out of the proceeds of anp sale made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds are sutticie�it to discharge the entire indebtedness and
<br /> s: ; all proper costs and expenses secm•ed thereby.
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<br /> 3. If the total of the paymente made by the Mortgagor under (a) of paragraph 2 preceding shall
<br /> exceed the amount of paymenta actuully made by the Mortgagee, as trustee, for ground rents, tnxes and
<br /> " ' asseasments or insurance premiums, as the case may be, such excess shall be credited by the biortgagee
<br /> on subsequent paymenta to be made by the Mortgagor for such items or, at hiortgagee's option, as trustee,
<br /> shall be refunded to niortgagor. If, however, such monthly plyments shall not be sufCicient to pay such
<br /> � ' itema when the same shall become due und payable, then the Mortgagor shall pay to the Diortgagee, as
<br /> trustee, any amount necessary to make up the deficiency �sithin thirty (30) days after u�ritten notice from
<br /> the Mortgagee atating the amount of the deficiency, whicli notice may be gi��en by mail. If at any time
<br /> ,- � the Mortgagor ahall tender to the l�iortgagee, in accordance �ti�ith the provisions of the note secm�ed
<br /> ' � hereby, full payment of the entire indebtedness represented thereby, the Blortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the ➢iortgagor any credit balance
<br /> ` ' accumulated 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 oi the premises covered hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the Diortgagee, as tivstee, shal! apply, at the
<br /> time of the commencement of such proceedings, or at the time tlie property is otherwise ncquired, the
<br /> amount then remaining to credit the 1lfortgagor under (a) of paragraph 2 preceding, as a credit on the
<br /> interest accrued and unpaid and the bllance to the principal then remaining unpaid on said note.
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<br /> 4, The lien of this instrument shall remain in full force and effect during any postponement or exten- � �' `
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<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. � �
<br /> ! a. He will pay aU ground rents, taxes, assessments, «�ater rates, and other governmental or munici- � `
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<br /> pal charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this � '��"'
<br /> mortgage, or the debt secured thereby, together «�ith any other taxes or assessments «•hich may be levied � :
<br />� under the la�vs of ATebraska against the liortgugee, or the ]eqal holder of said principal note, on account of
<br />�; this indebtedness, except �vhen payment for all such items has theretofore bcen made under ( n) of para-
<br />; graph 2 heFeof, , und he �t•ill promptly deliver the official receipts therefor to the :�Iortgagee. In default
<br />� thereof the Mortgngee may pay the same.
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