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<br /> TO HAVE wND To HoLD the same unto the Mortgagee, as he�•ein provided . Mortgagor represents to,
<br /> and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises ;
<br /> that they are free from encumbrance, except as hereinotherwisc recited ; that the Mortgagor w-ill warrant
<br /> and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> all ri�hta pf homestead, all marital rights, either in la�v or in equity, and all other contingent intei•ests of
<br /> the Mortgagor in and to the above-described premisea.
<br /> PROvtDED ALwAYs, and these presents are executed and delivered upon the following conditions, to
<br /> wit :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br /> at the rate of eight and one half per centum ( g , 5 `,'� ) ann n th � i �a d balanc until paid .
<br /> The asid principal and interest shall be payable at the office of ��rsoc�lat�ion �ofr�Lingolnnd Loan
<br /> in Lincoln , Neb raeka , or at such other place as tlie holder of the note may designate in
<br /> writing delivered or mailed to the blortgagor, in monthly installments oPi'WU HUNDRED SEVENTY EiGHT AND 7 3/ 100
<br /> Dollara ( $278 . 73 ) , commencing on the first day of gE�,brunry . 19 78 , and continuing on
<br /> the firat 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 s}iall be due and payable on the first da � of ,Tan r p�3 � �� �
<br /> according to the terms of a certain promissor�� note of e��en date here�vith executec��iy�the sai�M(>rtgagor.
<br /> The Mortgagor further agrees :
<br /> 1 . He will pay the indebtedness, as here�inbefw•c provided . Privilege is reserved to prepsy at any
<br /> time, without premium or fee, the entire indebte< lness or any part thereof not less than the amount uf une
<br /> installment, or one hundxed dollars ($100 .00 ) , whichever is less . Prepayment in Yull shall be c;redited on
<br /> tt►e date received. Partiei prepayment, other than on an installment due date, need not be credited until
<br /> the next tollowing installment due date or thirty days after such prepayment, whichever is earlier .
<br /> 2. To�ether with, and in addition to, the monthly payments of principal and interest payable under
<br /> the terma ot the note sec;ured hereby, Mortgagor wiU pay t�> Mortgagee, xs trustee, ( under the term3 of this
<br /> truat aa hereinafter atated) on the firat day of each month until said note is fuliy paid :
<br /> (a) A sum equal to the ground :•eiits, if aiiy, next due, plus t}ie premiums that will next become due
<br /> and payable on policiea of tire and other hazard insurance covering the mortgaged property,
<br /> plus taxes arid assessments next due oci the mortgaged pi•operty� ( all as estimated by the Mort-
<br /> ga�ee, anci of �� hich the Mortgagor is notitied ) less all sums already paid therefor divided by
<br /> the number of months to elapse beforc: one month prior to the date N�hen such ground rents,
<br /> premiums, taxes and assessments ��• ill become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay said gi•ound rents, premiums, taxes aiid special assesaments.
<br /> ( b ) The aggregate of the amuunts payable pursuant to subparagraph ( a ) and those payable on the
<br /> note aecured hereby, shall be paid in a single payment each month, to be applied to the follou�-
<br /> ina itema in the order stated :
<br /> ( 1 ) ground rents, taxes, assessments, firc and other ha�ard insurance premiume ;
<br /> ( II ) intereat on the note secured hereby ; and
<br /> ( uI ) amoctization of the principal of said note .
<br /> Any deficiency in the amoiuit of any such aggregate monthly payment shall , unleas made �ood
<br /> by the hiortgagor prior to the due date uf the next such payment, constitute an event of default
<br /> under this mortgage. At biortgagee's option, Dlortgagor will pay a `9ate charge" not exceed-
<br /> in� four per centum ( 4 ''� ) of any install ment ��•heii paid more than fifteen ( 15 ) days after the
<br /> due date thereof to cover the extra erxpensc in�•oh•ed in handling delinquent paymenta, but such
<br /> "late charge" shall not be payable out uf the pi•c�cerds of any sale made to satisfy the indebted-
<br /> nesa secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br /> all proper costs and expenses secured thereby.
<br /> 3. If the total of the payments made by the Mortgagor under ( a) of parsgraph 2 preceding shali
<br /> exceed the amount oY paymente actually made by the Mortgagee, as trustee, for ground rents , taxes and
<br /> asaeasmenta or inaurance premiuma, as the case may be, such excesa shall be credited by the Mortgagee
<br /> on aubeequent payments to be made by the Mortgagor for such iterru or, at Mortgagee's option , as trustee,
<br /> ahall be refunded to MortQa�or. If, however, auch monthly payments shall not be sufficient to pay such
<br /> items when the same ahall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> truetee, any amount neceasary to make up the deficiency w� ithin thirty ( 30 ) days after written notice from
<br /> the Mort�ag�ee atatina the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the �[art�8�or ahi�ll tender to the Mortgagee, in accordance H� ith the provisions of the note secured
<br /> hereby, lull paytnent oY the entire indebtedness represented thereby, the Mortgagee, as truatee, shall ,
<br /> in computinQ the amount oP auch indebtednesa, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the provieiona of ( ¢) uf paragraph 2 hereuf. If there ahall be a default under any
<br /> of the provisiona of this mortQage resultinQ in a public salc: of the+ prc�mises covered her�by, or if the
<br /> ][ort,Qa�ee aequires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br /> time of the commeneement of auch proceedings, or at the time the property is otherK�iae acquired, the
<br /> amount then retnaininQ to credit the Mort�a�or under ( a ) ot paragraph 2 preceding, as a credit on the
<br /> interest sccrued and unpaid and the balanc� to the principal then remaining unpaid on esid note. • 4 + `
<br /> 4. Tl�e lien of this instrument shall remain in full force and effect during any postponement or exten- � �
<br /> �ion oP the time of payment of the indebtedneas or any psrt thereof aecured hereby. "� �Y �
<br /> 6. He wiA pay all �round renta, taxee, asseasments, water ratea, and other governmental or munici- I ' `�.
<br /> pd charsea, flaes, oz impoaitiona, levied upon said premiaea and that he will pay ali taxea levied upon this �"
<br /> mort�s�e, or the debt secured thereby, together •.rith any other taxes or aasessmen!s :r!uch ma3• be '.e��ied
<br /> under the lau's of Nebraska a�ainst the :liortgagec, or thc legal holdcr of said prir_ cipal notc, on account of
<br /> thu indebtedtreas. except when psyment for ail auch iterna has theretofore been rnade under ( a ) of para- '"
<br /> rraph 2 hereoP, aad he wiil promptly deliver the oflicial receipts therefor to the :17ortgagee. In defsult
<br /> thcrcof thc '.4Sortra�cc mny pay thc aamc.
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