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<br /> 78-, UG05d5
<br /> TO HAVE nND TO HoLD the stime unto the Mortgagee, xs hei•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 encumbrunce, except as hereinother�vise recited ; that the Mortgagor �vill warrant
<br /> and defend the same againstthe lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> ail rights of' homestead, alt marital rights, either irr law or in equity, flnd all other contingent interests of
<br /> the' Mortgagor in and to the above-described premises. -
<br /> .� PROVIDEDALWAYS, and �thesepresents� ureexecuted and delivered upon the following conditions, to � � �. .
<br /> wit :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid nrincipal sum with interest from date
<br /> at the rate of eight aad one hal£ �r centum (8 . 5 Jo ) er annum on the unpaid balance until p�id.
<br /> The said principal and interest shall Ue payable at the ofiice of �'-rst Federal Savinga and Loan
<br /> in Lincoln, Nebrask.a j A soci�tio� of I�i.ncol g
<br /> , or at sucli other �lace as t�ie ho er o the no e mayndesi nate in
<br /> writing delivered or mliled to the Mortgagor, in monthly instnllments of ONE HUNDRED TFiIRTY FOIIR AND 56 /100 .;
<br /> Dotlars ($ 134 . 56 j , commencing on the frrst day of March , 29 7$ , an@ continuing on
<br /> the first 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 Ue rlue and payable on the first clly of February 2008 ; all
<br /> according to the terms of a certain promissory note of even date here�vith executed by the said Mortgagor.
<br /> The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, as hex•einbefore provided. Privilege is reserved to prepay at any
<br /> time, without premium or fee, the entire indeUtedness 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 shal2 be credited vn
<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 eazlier.
<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 Mortgngee, 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 :
<br /> (a) A aum equal to the ground rents, if atiy, next due, plus the premiuma 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 pronerty ( all as estimated by the Mort-
<br /> gagee, and of «•hich the Mortgagm• is notificd ) less all sums already paid therefor divided by
<br /> the number of months to elapse beforc one moiith prior to the date �vhen such ground rents,
<br /> premiums, taxes and assessments ��•il1 become delinquent, such sums to be held by Mortgagee :
<br /> in trust to pay sxid ground t•ents, premiums, taxes and special assessments.
<br />' ( b ) The aggregate of the amounts payable pui•suant to subpai•agraph (a) and those 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 />, ( t ) ground rents, taxes, assessments, fire and other hazard inaurance premiums ;
<br />� ( II ) interest on the note secured hereby ; and . - .� . � . � . �
<br /> ( tII ) amorti��tion of the principal of said note.
<br /> Any deficiency in the amotmt of any such aggregate monthly payment shalt, unless made good
<br /> by the l�iortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, �3ortgagor will pay a "late charge" not exceed-
<br /> ing four per centum (4 % ) of any installment when paid more thnn fifteen ( 15 ) days after the
<br /> due date thereof to cover the extru expense involved in handling delinquent payments, but such
<br /> '9ate charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds are su fBcient to discharge tlie 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 paragraph 2 preceding shal]
<br /> exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br /> on aubsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mortg-agor. If, however, such monthly payments shall not be suflicient to pay such
<br /> items when the sa.me 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 Mortga.gee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mort,gagor shall 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 eomputing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumuiated under the provisions of ( a) of paragraph 2 hereof. If there shall be a defnult under any
<br /> of the provisions of this mortgage reaulting in a public sale of the premises covered hereby, or if the
<br /> Mortgagee acquires the property othei�vise after default, the Mortgagee, as trustee, shall appiy, at the �
<br /> tune of the commencement of such proceedings, or at the time the property is othenvise acquired, the
<br /> amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the ` `' " "
<br /> interest accrued and unpaid and the balanee to the principal then remaining unpaid on said note. V� r~ � , `
<br />. . . . . . . . :h< .
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- �� =:
<br /> sion of the time of payment of the indebtedness or any part thereof secured hereby. � t<
<br /> 5. He will pay ali ground rents, taxes„ assessments, water ratea, and other governmental or munici- � s �;s
<br /> pal charges, fines, or impositiona, levied upon said premises and that he wiil pay all taxes ]evied upon this � ` ' �
<br /> mortgage,: ar the debt secvred thereby, together with any other taxes or assessments which may be levied -� " `: "'
<br /> under t8e lawa of Nebraska against the Mortgagee, or the legal holder of said principal note, on account of
<br /> this'`indebtedness,`except when payment for all such items has theretofore been made under ( a ) of para-
<br /> graph 2 hereof, and he �vill promptly deliver the ofTicial receipts therefor to the Mortgagee. In default
<br /> thereof the Mortgagee :qay pay the same. �
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