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<br /> �8-�+� 00595
<br /> To HnvE nrtn TO Hor.n the same unto the Mortgagee, as hex•ein provided. Mortgagor represents to,
<br /> - and covenanta 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 warr$nt
<br /> ' and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquiahes
<br />� all righta of homestead, ail marital rights, either in law or in equity, and all other contingent interests of
<br />.3 the Mortgagor in and to the above-described premises.
<br />; PRov[nEn ALwaYS, and these presents are executed and delivered upon the following conditiona, to
<br /> wit :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principa] sum with interest from date
<br /> at the rate of eight and one hal£ per centum ( g , 5 % ) pe��nnu o� thetinspaid balance until paid.
<br /> The said principal and interest shall be payable at the office of rst �'e era avings and Loan
<br /> o i io f Li ncoln
<br /> in Lincoln , Nebraska , or at such other place as��ie �io�er o� tgie note rnay designate in
<br /> writing delivered or mailed to the Mortgagor, in monthiy installments of TWO HUNDRED SIXTY FIVE AND 66 / 100
<br /> Dollars ($265 . 66 ) , commencing on the first day of March , 19 78 , and 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 be due and payable on the first day of February 2008 ; aII
<br />' according to the terms of a certain promissoiy note of even date here�vith executed by the said Mortgagor_
<br /> The Mortgagor further agr. ees :
<br /> 1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br /> time, �vithout 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 dste, need not be credited until
<br /> i 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 payable 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 firat 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 �vhich 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 �vhen such ground renta,
<br /> premiums, taxes and assessments «�ill become delinquent, such suma to be held by Mortgagee
<br /> in trust to pay said ground rents, premiums, taxes and special assessmenta.
<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 premiums ;
<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 shall, unless made good
<br /> by the biortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, Mortgagor wiil pay a "late charge" not exceed-
<br /> ing four per centum (4 % ) of any install ment �vhen paid more than fifteen ( 16) days after the
<br /> due date thereof to cover the extra expense involved in handling delinquent payments, but auch
<br /> "late 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 sufficient to discharge the entire indebtednesa and
<br /> all proper costs and expenses secured thereby.
<br /> 3. If the total of the payments made by the Mortga.gor under (¢) of paragraph 2 preceding ahall
<br /> exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> assesaments or insurance premiums, as the case may be, such excesa shall be credited by the Mortgagee
<br /> on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shali be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay auch
<br /> itema when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, any amount necesssry to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor ahall 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, ahall,
<br /> in computing the amount of such indebtednesa, credit to the aceount of the Mortgagor any credit balance
<br /> accumulated under the proviaiona of ( a� of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisiona of this mortgage reaulting in a public sale of the premises covered hereby, or if the
<br /> Mortgagee acquirea the property otherwise after default, the Mortgagee, as truatee, shall apply, at the
<br /> time of the commeacement of such proceedinga, or at the time the property is otherwise acquired, the y :
<br /> amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br /> intereat accrued and unpaid and the balsnce to the principsl then remaining unpaid on said note. „ t_.. �. "�y l
<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 indebtedneas or any part thereof secured hereby. ` � ' "
<br /> 5. He will"pay all ground renta, taxes, assesaments, waterxates, and other governrnental or munici- fi ` �
<br /> pal charges,' fines; or impositions, levied npon said premisea and that he will pay all taxea Ievied upon thia � ',
<br /> mortgage, or the debt secured thereby, together with any other taxes or asseasments whic3i may be tevied '� �r,� �; `
<br /> ut►der the Iasvs of Nebraska. against the Mortgagee, or the legal hoider of said principal note, on account of � ` " ` ; '� '
<br /> t3iis ind�btedness, except �vhen payment for all such items has theretofore been made under (a) of para-
<br /> graph 2 hereof, and he wili promptly deliver the official receipta therePor to the Mortgagee. In default
<br /> thereof the Mortgag¢e may pay the same. -
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