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<br />� ���001539 - � �
<br /> TO HavE nlvn To Hoc.n the same unto the Mortgagee, as herein provided_ Mortgagor represents to,
<br /> r and covenants with, the Mort�agee, that the Mortgagor has good rigiit to setl and convey said premises ;
<br />� that they are free from encumbrance, except aa hereinother�vise recited ; that the Mortgagor �vill warrant
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<br /> and defend the same against the lawful clairns of all persons �•homsoever. Mortgngor hereby relinyuishes
<br /> all' rights of homestead, all marital rights, either in 1aw or in equity, and all other contingent interest9 of t,
<br /> i the Mortgagor in and to the above-describecl premises.
<br /> �� PSOVIDED�ALWAY3, and � thesepresents � areexecuted and � delivered upon the following conditions, to r . �
<br />' wit :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date �
<br /> at the rute of eight and one half--Per centum ( g , 5io ) per �rium t�e u�p�id balance until paid. �
<br /> The said principal �nd interest shall be payable nt the oftice of �Soci�ation ofaLiaeoland Loan :
<br /> in Lincoln , Nebraska , �r at sucii otlier place as tlie holder of the note may c�esignate in y
<br /> writing delivered or mailed to the Mortglgor, in munthly installments of ONE HUNDRED EIGEiTY ONE AND 46 / 200--;
<br /> Dollars ($ 181 . 46 ) , commencing on the first day of May , 19 78 , and continuing on
<br /> tke first day of eacli month thereafter ecnti! said note is fulty paic3, except that, if not sooner paid, the ftna! ;
<br /> payment of principal and interest sh111 be due and payable on the first day of April 2008 ; all
<br /> according to the terms of a certain promissory note of even date ]iere�vith executed by the said Mortgagoi•. `
<br /> The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, as hereinbefoi•e provided. Privilege is reserve.d to prepay at any
<br /> t9me, without premium o:• fee, the entire iridebtedness or any pa.rt thereof not ]ess than the a�oixnt of one
<br /> installment, or one hundred dollars ($100.00) , whichever is less . Prepayment in full shall be credited on ;
<br /> the date received. Partiai 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. Tngether with, and in addition to, the monthly payments of principal and interest payable under ;
<br /> the terms of the note secured hereby, Mortgagor will pa,y 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 fnlly paid :
<br /> (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due �
<br /> and payabie 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 �vhexi such ground rents,
<br /> premiums, taxes and assessments �vitl become delinqneiit, such sums to be held by Mortgagee
<br /> in trust to pay said ground rents, premiums, taxes and special assessments.
<br /> (b ) Th� aggregate of the amounts payable pursuant to subparagraph (a ) and those payabie on the
<br /> note secured hereby, shall be paid in a single payment each month, to be applied to the foltow- �
<br /> ing items in the order stated : "
<br /> ( i) ground rents, taxes, assessments, fire and other hazard insurance premiums ; k
<br /> (II ) interest on the note secured hereby ; and � �
<br /> (tt1) amortization of the principal of said note.
<br /> Any deficiency in the amount of any such aggregate monthiy 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, Mortgagor will pay fl '9ate charge" not exceed-
<br /> ing four per centum ( 4 % ) of any installment �vhen paid more than fifteen ( 15) days after the
<br /> due date thereof to cover the extra expense involved in handlingdelinquentpayments, but such
<br /> "late charge" shall not be payable out of the proceeds of any sale made to satisfy t12e indebted-
<br /> ness secured hereby, unless such proceeds are suflicient to discharge the entire indebtedness 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 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 /> sha11 be refunded to Mortgagor. If, however, such monthly payments shall not be suflicient to pay such
<br /> items when the same shall become due and payabie, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, a�y 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 shall tender to the Mortga.gee, in accordance with the provisions of the note secured
<br /> hereby, fuli payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br /> 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 provisions of this mortgage resulting in u public sale of the premises covered hereby, or if the
<br /> Mortgagee acquirea the property otherwise after default, the Mortgagee, as trustee, shail apply, at the
<br /> , time.o£ the commencement of such proceedings, or at the time the property is othenvise acquired, the
<br /> amount then semaining to credit the Mortgagor under (a) of pa;agraph 2 preceding, as s credit on the ;r �
<br /> interest accrued, and. unpaid and the balance to the principal then remaining unpaid on said note. '" �` � " '
<br /> 4. The liea of this instrument shall remain in full force and effect during any postponement or exten- �
<br /> . sion:of:the tittie.of;payment of the indebtedness or any part thereof secured hereby. ,�4 ,;E'
<br /> 5. He will pay all ground rents, taxes,;assessments, water,rates, and other governmentai or munici- � `,.
<br /> pal chargea, fiaes, or impositions, levied upon: said`premiaes and that he will pay a11 taxea levied upon this b� .� ;� ,
<br /> mortgage; or the debt secured thereby, together with any other taxes or assessments which may be levied - ,;�,T ��t? .
<br /> uniier'the latWs'6� Neli=aska againstthe Mortgsgee, or the legal holder of said principal note, on account of
<br /> this sndebtednesa,'except when payment for all such items has theretofore been made under (a ) of para-
<br /> graph 2 hereof, and he will promptly detiver the oflicial receipts therefor to the Mortgagee. In default
<br /> thereoP the Mortgagee may pay the same. .
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