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<br /> ' To HAVE aND To HoLn the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br /> � and covenants with, the Mortgagee, that the Mortgagor has good right to sell and canvey said premises ; � ,
<br /> � that they are free from encumbrance, except as hereinother�vise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawfu] claims of atl persons whomsoever_ Mortgagor hereby relinquishes �'
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<br /> y all rights of homestead, all maritaI rights, either in la�v or in equity, and al2 other contingent interests of �
<br /> a the Mortgagor in and to the above-described premises.
<br /> ; PRovtnEn .ALWnYs, and the'se presents are executed and delivered upon the following conditions, to
<br /> ; wit : _
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<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 hal f per centum ( 8 . Sib ��er an ur� on �h� un�aid baIa$c�untii paid. '
<br /> The said principal and interest shall be payable at the ofTce of rst �Fe era av ngs an oan
<br /> j Assoc ' at�on of Lincoln ;
<br /> � in Lincoln , Nebraska , or at such other place as the older of the note may designate in
<br /> � writing delivered or mailed to the Mortglgor, in monthly instullments of THREE HUNDRID SIXTY DiINE AND 08/ 100 ;
<br /> ` Dollars ($ 369 . OS ) , commencing on the first day of Nlarch , 19 78 , and continuing on
<br /> ' f the first day of each month tiiereafter untii said note is fu[Iy paid, except that, if not sooner paid, the tinal
<br /> ; payment of principll and interest shall be due and payable on the first day of February 2008 : ali
<br /> faccording to the terms of a certain promissory note of even date here�vith executed by the said Mortgagor.
<br /> s The Mortgagor further agrees :
<br /> � 1. He will pay the iudebtedness, as liereinbefore provided. Privilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indebtedness or any part thereof not less tban the amount of one
<br /> � i installment, or one hundred doilars ($100.00), whichever is less. Prepayment in full shall be credited on
<br /> f 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.
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<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, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this �
<br /> " � trust as hereinafter stated) on the first day of each month until said note is fully paid : t
<br /> ! (¢) 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 insui•nnce covering the mortgaged property, �
<br /> plus taxes and assessments next due on the mortgaged property ( all as estimated by the Mort- �
<br /> gagee, ancl of w�hich the Mortgagor is notified ) less all sums already paid therefor divided by "
<br /> � the number of months to elapse befo:•e o�ie month prior to the date when such ground rents, i
<br /> premiums, taxes and assessments �vill become delinquent, such sums to be held by Mortgagee
<br /> � in trust to pay said ground rents, premiums, taxes and special assessments. , '�.f
<br /> ( b ) The aggregate of the amounts payable pursuant to subpa2•agraph (a) and those payable on the � r�
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<br /> note secured hereby, shall be paid in a single payrnent each month, to be applied to the follow- M1
<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 ) amox•tization of the principal of said note. , v,
<br /> Any deficiency� in the amount oF any such aggregate monthly payment shall, unleas made good
<br /> by the Nlortgagor prior to the due date of the next such payment, constitute an event of default '��ir
<br /> under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed- �;"
<br /> � ing four per centum (4 �o ) of uny install ment «-hen paid more than fifteen ( 15) days after the :�;,.
<br /> � due date thereof to cover the extra expense involved in handlingdelinquent payments, but such ' x s
<br /> "late charge" shall not be payable out of the proceeds of any sale mAde to satisfy the indebted- `:`x
<br /> ness secured hereby, unless such pi•oceeds are sufficient to discharge the entire indebtedness and �
<br /> all proper costs and expenses secui•ed thereby. �
<br /> 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br /> � exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> � � assessments or insurance premiuma, as the case may be, such excess shali be credited by the Mortgagee
<br /> on subaeqaent payments 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 shall not be sufficient to pay such
<br /> items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, 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 mail. If at any time
<br /> the Mortgagor shalI teader 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 /> =k in computing the amount of such indebtedness, credit to the account of the Mortgagor 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 proviaiona of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br /> Martgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br /> time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
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<br /> ' amount then remaining. to credit the Mortgagor uader (¢j of paragraph 2 preceding, as a ,credit on the w --'�" �
<br /> ' inteiest accrued attd unpaid and the balance. to the principal then remaining unpaid on said note. f ': g ;
<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,payxnent of the indebtedness or any part thereof secured ttereby. r�� .�:-
<br /> , ` ' 6:..He will pay all ground rents, taxea, assessments, wat�r rates; and other governmental or munici- � ' +� '
<br /> pal charges, Rnea, or impositions levied at "' �` '• '
<br /> . pon said premisea and that he will pay all taxes levied upon this �, k �,r�
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<br /> mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied � '
<br /> ;� uad�t tiie Iatvs bf Nebraska against the Mortgagee, or the legal holder of said principal note, on account of
<br /> i tl►is'.indebtedneas; 'except when payment for ail such itema has theretofore been made under (a) of para-
<br /> ;� graph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgugee. In d�fault
<br /> n thereof the Mortgagee may pay the same.
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