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<br /> 7s-� 01806
<br /> TO HwVE nND To Hoi.n the same unto the Mortgagee, as herein 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 hereinatherwise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishea �
<br /> all rights of homestead, all maritalxights, either in7aw 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 eacecuted and delivered upon the following conditions, to � � � �
<br /> wit :
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with iziterest from date
<br /> at the rate of eight and one half- - -per centum ( 8 . SU�o ) per annum on the unpaid balance until paid.
<br /> The said principal and interest sfiaA be payable at the office of First Federal Savings and Loan
<br /> Asso igt �pn o� Lincoln
<br /> in Lineoln , Nebraska , or at such other place as tFie no aer o the nute may designate in
<br /> writiag delivered or maSled to the Mortgagor, in monthly instal]ments of �gEE HUNDRF.D TWENTY TWO AND 17 / 100 '
<br /> Dollars ($ 322 . 17 ) , commencing on the first day of May , 19 78 , and continuing on
<br /> the frrst day of each mont22 thereafter until said note is fulty paid, exeept that, if not sooner paid, the final
<br /> payment of principai and interest shall be due and payable on the first day of April 2008 ; ali
<br /> according to the terms of a certain promissory note of even date hesewith executed by the said Mortgagor.
<br /> The Mortgagor further agrees :
<br /> 1. He will pay the indebtedness, as hereinbefore provided. Privilege ia reserved to prepay at any
<br /> time, without premium ar 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 untii
<br /> the nexC 4ollowing inatallment due date or thirty days after such prepayment, whichever is earlier.
<br /> Z. Together with, and in ad@ition to, the monthly payments of principal and interest payable under
<br /> the terms of the note secured hereby, Martgagor will pay to Mortgagee, as trustee, (uncier the terms of this
<br /> truat as hereinafter atated) on the first day of each month until said note is fully paid :
<br /> (a) A aum 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 /> plua taxes and assessments next due on the mortgaged property (all as estimatzd by the Mort-
<br /> gagee, and of �vhich the Mortgagor is notified ) ]ess all suma already paid therefor divided by
<br /> the number of months to elapse before one month prior to the date when such ground renta,
<br /> premiums, taxes and assessments «�ill become delinquent, such sums to be heid 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 pay-ment 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 Mortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this mortgage. At Mortgagee's option, A�Iortgagor will pay a "Iate charge" not exceed-
<br /> ing four per centum (4 qc ) of any install ment �vhen 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 /> '9ate charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> nesa secured hereby, unless such proceeds are suflicient to discharge the entire indebtednesa and
<br /> sll proper costs and expenses secured thereby.
<br /> 8. If the total of the payments made by the Mortg�agor under (¢) of paragraph 2 preceding shall
<br /> exceed the amount of paymenta actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> asaeasments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br /> on aubsequent pa,menta to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br /> shall be refunded to Mortgagor. If, however, auch monthly payments ahall not be sufficient to pay such
<br /> items when the same ahall become due and payable, then the Mortgagor shail pay to the Mortgagee, as
<br /> truetee, any amount necessary to make up the deficiency within thirty (30) days after written notice from
<br /> the Mortgagpe ata.ting the amount of the deficiency, which notice may be given by mail. If at any time
<br /> the Mort,gagor 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, a.s truatee, ahall,
<br /> ia computing the amount of auch, indebtedness, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the provisiona of (¢) of paragraph 2 hereof. If there ahall be a defauit under any
<br /> of the proviaiona of this mortgag�e resulting in a public sale of the premisea covered hereby, or if the
<br /> Mortgsgee acquirea the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br /> time of the commencespent of auch proceedings, or at the time the property is otherwise acquired, the �
<br /> amouat then remaining to credit the Mortgagor under, (¢) of paragraph 2 preceding. as a credit on the _�, �, �-' "'� ;
<br /> intereat aecrued aad unpaid and the balance to the principal then remainin,g unpaid on said note.
<br /> 4. The liesof this instrument shall remain in full force and effect during any postponement or exten- F r' � '
<br /> aion of.the time of payment of the iadebtednesa or any part thereof secured hereby. � � ,. � '
<br /> 5. Iie will pay all ground rents, taxea, asaeasments, water rates, and other governmental or munici- g �`
<br /> pal chaxges,'Rnea, or impositions, levied upon said premiaes and that he will pay all taxes levied upon this � ` `" . � �
<br /> morEgage, or the debt secured thereby, together with any other taxes or assessments which may be levied .'�" `�� �
<br /> uridez the laws of Nebiaska against the Mortgagee, or the legal holder of said principal note, on account of
<br /> thia' indebtednesa, except when payment for all avch items hss theretofore been made under (a) of para-
<br /> graph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgagee. In default
<br /> thereof the Mortgagee may pay the same. �
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