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<br />.�..��-- � 6_ 0057 �3
<br /> To Hnvc atvn To HoLn the same wito the I1�fortgagee, as herein provided. 111ortgngor represents to,
<br /> and covenants with, the Mortg�gee, tliat tlie ➢Iortgagor has good right to sr,ll 1nd convey said pretnises ;
<br /> that t}�ey are free from encumbrance, except as hereinotherwise recited ; that tlie h4ortgagor �vill warrant
<br /> and defend the same against the la���fttl claints of all perso�is whomsoever. ➢lortgngor hereby relinquislies
<br /> all rights oP homestead, all marital rights, either in law or in equity, and uli other contiugent interests of
<br /> rtlie 117oi•tgagor in nnd to the above-described premises.
<br /> PROVIDED ALWAYS, nnd these presents are executed and delivered upon the following conditions, to
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<br /> Niortgngor ngrees to pay to the n7ortgagee, or order, the aforesaid principal sum with interest from date
<br /> at the rate of eight and one-half per centum (8 . 5 ;o ) er annum on tl�e unpaid Ualance until p�tid.
<br /> The suid principal and interest shall Ue paytible nt the oflice of ps o iP�denaofs�a,nc�lnand Lor�n
<br /> in Lincoln , or at such otlier pince ns t5ie��o��er of tlie noge may designate in
<br /> writing delivered or mniled to the 1Iortgagor, in monthly installments of �,�o Hundred Pift�,/-three and 65�100 ;
<br /> � Dollars ($ 253 , 65 ) , commencing on the first day of November � 1�J /6 � and continuing on
<br /> the first day of each month thereafter until said note is fully pnid, except thut, if not sooner pvd, the finul
<br /> � ��ayment of principal and interest shall be due and paynble on the first day of October 2001 � a��
<br /> ` according to the terms of a certttin promissory note of even date herewith executed by the sxid 11Sortgagm•.
<br /> � The Mortgagor furtlier agrees : :
<br /> � 1. He will pny the indebteclness, as itereinbefoce provided. Privilege is reserved to prepay at any
<br /> �? time, without premium or fee, tl�e eutire indebtedness or any part thereof not less than the amount of one
<br /> installment, or one hundred dollazs ($100.00) , whichever is less. Prepayment in full shall be credited on
<br /> the dute received. Partial prepayment, other than on an instnllment due date, need not be credited until
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<br /> the next fo]lowing installment due date or thirty days after such prepayment, whichever is etulier.
<br /> �- 2. Together with, and in addition to, the monthly payments of principll and interest payable under
<br /> ; the terms of the note secured hereby, ➢tortgagor will pay to Mortgagee, us trustee, ( undcr the terms of this
<br /> #: trust as hereinafter stated) on the first day of each month until said note is fully paid :
<br /> (a) A aum equal to tlic ground reitts, if aiiy, next due, plus tlie pretniums that will next become due
<br /> � nnd payable on policies of fire and other hzizard insurance covering the mortgaged property,
<br /> ; plus taxes and tissessments next due on the mortgaged property ( all as estimated by the �fort-
<br /> gagee, lnd of ���hich the blortgngor is notified) less �1t sums already paid therefor divided by
<br /> the number of months to clapse before oiie month prior to thc date �t'hen such ground rents,
<br /> premiums, taxes :tnd assessments u�ill bccome delinquent, such sums to be held b,v Mortgngee
<br /> in trust to pfly said ground rents, premiums, taxes nnd special assessments.
<br /> � ( b) The �ggregate uf the nmounts plyaUlc pursuant to subpnragraph (a) and those payable on the
<br /> note seciu•ed hereU�•, shnll be paid in a single pa��ment each month, to be applied to the follow-
<br /> ' ing items in the order stated :
<br /> (t ) ground rents, taxes, assessme�its, fire and other hazard insurance premiums ;
<br /> ; ( it) interest on the ttote secured hei•eU�; and
<br /> ; (t�[ ) antortization of the principal of said note.
<br /> Any deficienc�� in the amount of ainp such aggregate monthly payment shall, unless mnde good
<br /> �; by the \Iortgagoi• prior to the due date of the next such payment, constitute an event of defnult
<br /> � under this mortgagc. r1t .11ortgagee's option, \Iortgagor �eill pay a '9nte cliarge" not exceed-
<br />' ;: ing four per ceutum (�l ;'o ) of viy� install ment u•hen paid mm�e thnn fifteen ( 15 ) days after the
<br /> due date thereof to co�'er the extra espense in�•oh�ed itt handlinq dclinquent payments, but such
<br /> ^= "late charge" shall not be pa��able out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured licreby, unless sucli proceeds are sutlicient to disch�rge tlie entire indebtedness and
<br /> nll proper wsts and expenses secured thereby.
<br /> 3. If the totul of the payments made by the ➢iortgngor wider ( a) of pnragraph 2 preceding shnll
<br /> ti exceed the amount of payments nctually made by the \fortgagee, Fis trustee, for ground rents, taxes and
<br /> nssessments or insurance premiums, as the cnse may be, such excess shall be credited by the 14fortgasee
<br /> on subsequent payments to Ue made by the 1lfortgagor for such items or, nt Mortgngee's option, as trustee,
<br /> ahull be refunded to Dlortgagor. If, ho�vever, such monthly payments shal] not be sufficient to pap such
<br /> items when the same shnll become due and pnyuble, then the nfortgagor shall pay to the nfortgagce, as
<br /> �� trustee, any nmount necessary to mnkc up the deficiency «�ithin thirty ( 30 ) days after «�ritten notice from
<br /> � the hfortgagee stating the amount of the deficiency, which notice mny be given by mail. If at any time
<br /> the Diortgngor ahall tender to the Mortgagee, in �ccordance «•ith the provisions of the note secured
<br /> hereby, full payment of the entire indebteclness represented thereby, the �fortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the uccount of the NSortgagor any credit Ualance
<br /> ; accumulated under the provisiona of ( a) of paragraph 2 hereof. If there shall be a default under any
<br /> � of the provisiona of this mortgnge resultitrg in a public sale of the premises covered hereUy, or if the
<br /> Mortgagee ncquires the property otherwise nfter deCflult, the I1lortgagee, as trustee, sltall apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is other�vise acquired, the
<br /> amount then remnining to credit the 117ortgngor under (a) of pnragraph 2 preceding, as a credit on the
<br /> interest accrued und unpaid and the balance to the principal tlien remaining unpaid on said note. : �
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<br /> A. The lien of this instrument shall remain in full force and et�ect during any postponement or exten- . •N = ;
<br /> sion of the time of pal•ment of tlie indebtedness or any part thereot secured hereby. �, r
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<br /> 6. Iie will pay nil gi•ound rents, tuaes, assessments, ���nter rates, and other governmental or munici- �
<br /> pal churges, fines, or impositions, levied u�on said premises and that he will pn�� all tlses levied upon this r. -
<br /> ° mortgage, or the debt secured thereby, together �sith any other tnses or assessments ��•hich may be levied � :
<br />,� under the lawa of Nebraskn against the Dlortgagee, or tlie ]egai holder of saicl principal note, on account of
<br />.� this indebtedness, except «�hen payment for all such items has theretofure been made wider ( a ) of pnru-
<br />�� gi•apli 2 hereof, and he �ti•ill promptly dcliver the of6cial receipts tlierefor to the 3Iortgagee. In defnult
<br />°= tliereof the Mortgagee may pn�• the same.
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