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<br /> To HpvE axn To HOr.n the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br /> t►nd 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 lawful claims of ail persons whomsoever. Mortgagor hereby relinquishes (
<br /> all rights of homestead, all marital rights, either in la�v or in equity, and all other contingent interests of
<br /> the Mortgagor in and to the above-described premises.
<br /> PAOVIDID 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 principal sum with interest from date
<br /> at the rate of eight and one half per centum ( 8 . 5 % ) P��nn�m�,or� thelu�aid bala.nce�nLtil�aid.
<br /> The said principal and interest shall be payable at the office of Association of aLinco lnn o n
<br /> ia Lincoln , Neb raska , or at such other place as the holder of the note may designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of FOUR HUNDRED TWENTY FIVE AND 98/ 100 °
<br /> Dollars ($ 425 . 95 ) , commencing on the first day of March , 19 7$ , and continuing on
<br /> the first day of each month theresfter 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 ; 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 doliars ($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 untii
<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 payable under
<br /> the terma 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 /> (cc) 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 Mort-
<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 «•il1 become delinquent, such suma to be held by Mortgagee
<br /> in trust to pay said ground rents, premiums, taxes and special assessments.
<br /> ( b) The aggregate of the amounts payable pursuant to subparagraph (¢) 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 insurance premiuma ;
<br /> ( it) interest on the note secured hereby ; and
<br /> (III) arnortization 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 Mortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, NIortgagor will pay a "late 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 paymenta, but such
<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 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 /> asaessments or insurance premiums, as the ca.se may be, such excess shall be credited by the Mortgagee
<br /> on subsequent psyments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> ahall 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 Mortgagee atating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shal! tender to the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payxnent of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount oP such indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the proviaions of (¢) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage resulting in a pubiic sale of the premises covered hereby, or if the
<br /> Mortgagee acquirea 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 ;
<br /> amouat then remaining to credit the Mortgagor uader (¢) of paragraph 2 preceding, as a credit on the
<br /> interest accrued and unpaid and the balance to the principal then remaining unpaid on said note. `" ' ' ;. v �
<br /> 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- � � �" ��
<br /> aioa of the time of payment of the indebtedness ar any part thereof secured hereby. �� �
<br /> ' 5. He will psy all ground rents, taxes, assessments, water rates, and other governmental or munici- � k
<br /> pal chargea, fines, or iunpositions, levied upon said premiaes and that he will pay all taxes levied upon this ` . ° '�"` a
<br /> ' mortgsge, or the debt secured thereby, together with any other taxes or assessments �vhich may be levied - "r
<br /> ."� . .:w�. :.� .
<br /> under the laws 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 will promptly deliver the ofticial receipts therefor to the Mortgagee. In default
<br /> thereof the Mort,gagee may pay the same.
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