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<br /> 7s- t � U0349 .
<br /> To HnvE nNn To HoLn the same unto the Mortgagee, as hex•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 hereinotherwise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawiul claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> sll rights of homestead, all marita.l rights, either in law or in equity, and all other contingent interests of .
<br /> the Mortgagor in and to the above-described premises.
<br /> PxovcnEn AnwaYs, 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 ofEight and One Ha1f per centum ( 8� % ) per annum on the uqpaid balance until paid.
<br /> The said principal and interest shall be payable at the office of WESTIItN SECi1RSTIES COMPANY ,
<br /> in Omaha , Nebraska , or at such other place as the halder of the note may designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of Two Hundred Forty Nine and
<br /> Dollars ($ 249 . 9 3 ) , commencing on the first day of March , 1978 , and continuing on 93/ 100
<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 grincipal and interest shall be due and payable on the first day of February , 200 S ; all
<br /> according to the terms 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, without premium or fee, the entire indebtedness or any part thereof not less than the amount 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 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 payabie under
<br /> the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this
<br /> truat as hereinafter stated) on the first day of each month until said note is fully paid :
<br /> (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due .
<br /> 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 Mor�
<br /> gagee, and of which 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 date when such ground rents,
<br /> premiums, taxes and assessments «�ill become delinquent, such sums to be held by Mortgagee
<br /> in trust to pay said ground rents, premiums, taxes and specisl assessments.
<br /> ( b ) The aggregate of the amounts payable pursuant to subparagraph (¢) and thoae payable on the
<br /> note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br /> ing items in the order stated :
<br /> ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiuma ;
<br /> (II ) interest on the note secured hereby ; and � � � � � � . . ..
<br /> (III) amortization of the principal of said note. � � .� . � � � �. � . �
<br /> Any deficiency 'in the amount of any such aggregate monthly payment ahall, unlesa made good
<br /> by the 11�Iortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, Mortgagor will pay a '9ate charge" not exceed-
<br /> ing four per centum (4 % ) of any install ment when paid more than fifteen ( 15) days after the
<br /> due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br /> "late charge" shall not be payab]e out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured hereby, unlesa such proceeds are sufficient to discharge the entire indebtedness and
<br /> all proper costs and expenses secured thereby.
<br /> S. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br /> exceed the amount of paymenta actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> asaessmenta or insurance premiums, as the case ma.y be, such excess shall be credited by the Mortgagee
<br /> on subaequent paymenta to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mortgagor. If, however, such monthly payments shuil not be suflicient to pay such
<br /> itema when the same shall become due and paysble, then the Mortgagor shall pay to the Mortgagee, as
<br /> truatee, any amount necessary to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortgag�ee stating the amount of the deficiency, which notice may be given by msil. If at any time
<br /> the Mortgagor ahsll tender- to the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedneas, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the proviaions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the proviaions af this mortgage resuiting in a public sale of the premises covered hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shail apply, at the
<br /> time of the cotnmencement of auch proceedings, or at the time the property is otherwise acquired, the
<br /> amount then remaining to credit the Mortgagor under (¢) of paragraph 2 preceding, as a credit on the x '
<br /> intereat accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement ar exten- � `' �; . ' �;.
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. �,; t
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<br /> 5. He will pay all ground rents, ta�ces, assessmenta, water rates, and other governmental or munici- - '
<br /> pal charges, fines, or impositions, levied upon said premises and that he will pay all taxes ]evied upon this �
<br /> mortgage, or the debt secured thereby, together with any other taxea or assessments which may be levied ' ,,� �s
<br /> under the lawa of Nebraska against the Mortgagee, or the legai holder of said principal note, on account of ' ` '"'•= "
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<br /> this indebtednesa, escept when payment for a11 such items has theretofore been made under (a) of para- "
<br /> graph 2 hereoY, and he will promptly deliver the official receipta therefor to the Mortgagee. In default
<br /> thereof the Mortgagee may pay the same.
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