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<br /> 78-- U012 � 8
<br /> To HAVE artn TO HOLD the same unto the Mortgagee, as 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 encumbrance, except as hereinother�vise recited ; that the Mortgagor will �varrant
<br /> and defend the same against the Iawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />� all rights of homestead, a11 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 /> . � � PROVIDED ALWAYS, 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 of eight and one half per centum ( g . 5% ) per, annum o th unpaid balance until pAid.
<br /> The said principal and interest shall be payable at the office of First Fe�era�l Savings and Loan
<br /> in LincoSn , NebrasJca �Lssociation of Lincoln
<br /> , or at such otlier place as the holder of the note may designate in
<br /> writing delivered or mailed to the Mortgagor, in monthly installments of 2'�O XUNDRED TNIRTY SEVEN AND 59/10Q
<br /> Dollars ($ 23� - 59 ) , commencing on the first day of April , is 78 , and continuing on �
<br /> the first day of each montli 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 �rch 2008 � a»
<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 prepsy 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 aftez such prepayment, whichever is eariier. `
<br /> 2_ Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> the terrns of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this
<br /> trust as hereinafter atated) on the first day of each month until said note is fully paid :
<br /> (tc) 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 �vhich the Mortgagor is notified ) less alt 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 will become delinquent, such sums 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 (ce) 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 /> (i ) gi•ound rents, taxes, assessments, fire and other hazard insurance premiuma ;
<br /> ( II � interestonthenotesecuredhereby ; and � �
<br /> ( tri) amortization of the principai of said note.
<br /> Any deficiency in the amount of any such aggregate monthly payment shali, 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, blortgagor will pay a '9ate charge" not exceed-
<br /> ing four per centum ( 4 % ) of any install ment «�hen 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 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 indebteciness and
<br /> all proper costs and expenses secured thereby. -
<br /> 3. If the total of the payments made by the Mortgagor under (¢) of paragraph 2 preceding shall
<br /> exceed the atnount of payments actuslly made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> assessments or insurance premiums, as the case ma.y be, such excess shall be credited by the Mortgagee
<br /> on subsequent payments to be made by Che Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mort,gagor. If, however, such monthly payments shall not be suflicient to pay such
<br /> items when the same shall beeome 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 stating the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mortgagor shall tender to � the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedneas represented thereby, the Mortgagee, as trustee, shall,
<br /> in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit baiance
<br /> accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br /> of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br /> Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br /> time. of the commencemeat of such proceedings, or at the time the property is othenvise acquired, the 4
<br /> amouat then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the -�
<br /> interest accrued and unpaid and the balance to the principai then remaining unpaid on said note. -- � <
<br /> 4. The7ien of this instrument shaU 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.
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<br /> _ ' - 6. He will pay all ground rents, taxea, assessments, , water rates, and other governmental or munici-
<br /> pai charges, fines, or impositions, levied upon saidpremisea and that he will pay all taxes levied upon this y , � � ``
<br /> mortigage, or the debt secured thereby, together with any other taxes or asseasments which may be levied _- � '°��
<br /> un8er 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 ail such itema has theretofore Ueen made under (a) of para-
<br /> graph 2 hereof, and he will promptly deliver the officisl receipts therefor to the Mortgagee. In default
<br /> thereof the Mortgagee may pay the same.
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