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<br /> 78 - UOC1U25
<br /> To HwVE ANn To HoLD the same unto the Mortgagee, as herein provided. Mortgagor represeiits to,
<br /> and covenanta with, the Mortgagee, that the Mortgagor has good right to sell and convey said premisea ;
<br /> that they are free from encumbrance, except as hereinotherwise recited ; that the Mortgagor will warrant
<br /> snd defend the ,ame againet the lawful claims of all persons whomsoever. Mortgagor hereby relinquiahes
<br /> a11 riQlttr of homeatead, all marital righta, either in law or in eyuity, and all other contingent interests of
<br /> the MortQa�or in and to the above-deacribed premiaes.
<br /> PSUViDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br /> Wit :
<br /> Mort�sYor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> at the rate of Eight and One Hdlf per centum ( 6� ��6 ) per annum on the unpaid balance until paid .
<br /> The ssid principal and interest shall be payaUle at the office of WESTII2N SECURITIES aDMPANY
<br /> in O�sahd � NebraSka , or at such ottier place as the holder of the note may designate in
<br /> writin� detivered or mailed to the MortgaQor, in monthly installments o! Two Hundred Eleven and 48/ 100
<br /> Dollars ($ 211 . 48 - - -) , commencing on the first day of February , 19 78 , and continuing on
<br /> the Rret day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br /> payment of principal and interest shall be Sue and pxyable on the first day of January , 2008 ; all
<br /> accordin� to the terma of a certain pi•omissory note of even date here�vith executed by the eaid Mortgagor.
<br /> The Mort�agor further agreea :
<br /> 1. He will pay the indebtedness, as hereinbefo�•e provided. Privilege is reserved to prepay at any
<br /> time, without premium oi• fee, the entire indebtedness or any part thereof nut lesa than the amount of one
<br /> uutalltnent, or one hundred dollars ($100 .00 ) , whichever is less . Prepayment in full shall be credited on
<br /> the date received. Psrtial prepayment, other than on an inetallment due date , need not be credited until
<br /> the nert following installment due date or thirty days after such prepayment , whichever is earlier .
<br /> 2. ToQether with, and in addition to, the monthly paymenta of principal and interest payable under
<br /> the termr of the note aecured hereby, MortgaYor will pay to Mortgagee, as trustee, ( under the terms of this
<br /> tnut as hereinstter rtated ) on the firet day of each month until said note is fully paid : -
<br /> (a) A sum equal to the ground renta, if any, next due, plua the premiuma that will next become due
<br /> and payable on policies of fire and othei• hazard insurance co�•ering the mortga�eed property,
<br /> plue taxes and asseasmenta next due on the mortgaged property ( all as eatimated by the Mort-
<br /> �aQee, and of w�hich the Mortgagor is nutifird ) less all sums already paid therefor divided by
<br /> the number uf months to elapse befure oue month pz•ior to the date w•hen such �round renta,
<br /> premiums, taxes and asaessments ���ill become delinyuent, such sums to be held by Mort�agee
<br /> in truat to pay said gruund rents, prnmiums, taxes and special asaessmenta.
<br /> ( 6 ) The a�Qre�ate of the amuunts pa�•able pw•suant to subparagraph ( a ) and thoee pstyable on the
<br /> note aecured hr. reby�, shall be paid in a single pa�•ment each month, to be applied to the follow-
<br /> in� items in the order stated :
<br /> ( 1 ) �round renta, taxes, assesxments, fire and other h�'zard inaurance premiume ;
<br /> ( lI ) interest on the nutesecured hereby ; and
<br /> ( III ) amortization oY the principal of said note.
<br /> Any deficiency iri the amount of an}� such aggregate monthly payment shall, unleas made yood
<br /> by the A3ortYa�or prior to the due dxte of the next such payment, conatitute an event of default
<br /> under thia mort�a�e. At Mortgagee's option, �fortgagor will pay a "late char�e" not exceed-
<br /> in� four per• centum ( 4 ^. ) of any install ment «�hen paid more than fifteen ( 15 ) daya after the
<br /> due date thereof to corer the extra exprnse in ��oh•ed in handlingdelinquent paymente, but such
<br /> "late charge" shali not be payable out of the pr�ceeds of any sale made to aatiafy the indebted-
<br /> ness aecured hereby, unlesa such proceeds ai•e sufficient to discharge the entire indebtednesa and
<br /> all proper coats and expenaes secured thereby.
<br /> S. If the tatal oi the psymenb made by the Moet,¢aQor under ( a ) of paragraph 2 preceding shall
<br /> elceeed the imount of payttfents sctuslly made by the Mortgagee, as trustee, for ground rente, taxee and
<br /> a�aeaamea�b or insurance pretniusas, u the csae may be, such excesa shall be credited by the MortQaQee
<br /> on wb�equent paymeab to be made by the Mort�aQor for such iteme or, at MortQagee's option, ae trustee,
<br /> ahtll be relunded to Moxt,�a�or. If, however, such monthly paymenta ahall not be suflicient to pay such
<br /> ite�rns when the �ame ahall becotne due and payable, then the MortQayor shall pay to the Mortga�ee, as
<br /> tru�tee, any tmount necesssry to make up the deficiency w�ithin thirty ( 30 ) days after written notice from
<br /> the ![ort�s�ee s4tins the aincwnt of the deticiency, which ndice may be �iven by maiL If at any time
<br /> the S[ortp�oe �hsii tender to the Mort�s�ee, in accordance w• ith the proviaions of the note secured
<br /> hereby, !ull payment of the entire indebtedness repreetiented thereby, the biortYaQee, ae truatee, shall,
<br /> in ec�fp�tin� the amount a? euch indebteclnesa, credit to the account of the !1�I�rtQaPor any credit balance
<br /> aocutnulated under the provisions of (¢) of parayraph 2 hereof. If there shall be a default under any
<br /> ol the peovfsioei of thu moetsare resultins in a public sale of the premises covered hereby, or if the
<br /> Mortsa�l{}e acQuires the proDerty otherwise after default, the biortgagee, as truatee, shall apply, at the
<br /> titas o! the comtpsncemeat O! sach proceedin�r, or at the time the property is otherwise ac:quired, the
<br /> an�ount thest raft►�inin; to credit the Mort�►Qor under ( a) of paragrsph 2 preceding, aa a credit on the �
<br /> ,',.
<br /> ittte�ast aarusd and unpaid and the balaace to the principsi then remsinin� unpaid on said note.
<br /> 4. 'i7se liea ot thu inrtruaserit shall remsin in full force and effect durinQ any postponement or euten- '� �' ,
<br /> tion ad 1�re time o! payment of the iadebtedness or any part thereof aecured hereby. J
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<br /> 8. Efe wit! psy a!1 �'ouad reaYs, taxes, asseaamenta, v�'ater ratea, and other go•;eramenta: cr munici-
<br /> pa! charsse, ltaee, or impoeitione, leried upoa said Dremises and that hc �ril! pa3• al! taxcs le��icd upon this
<br /> tnoelpp, or dfe debt secured thereby, torether K•ith sny other tazee or aaeeasments w�hich may be levied ,�
<br /> uodsr t6e Itws of Nebraskt arainat the Morts��ee, ot the le�al holder of eaid principal note, on account of
<br /> thi� in+i�t*+inewe, ��rt whrn I+e�ymrnf for nll .�ech item� hae theretofore beer_ madc ur.dcr ! a ) of para
<br /> �raph 2 5ersol, and he wili pranpkly deliver the oA'icial receipta therefor to the MortQagee. In default
<br /> thereo! tlse ][oet�ai'ee maY P�Y the same. �
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