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<br /> 7g--� U023 � 2
<br /> TO IiAVE ArrD To HoLn the same unto the Mortgagee, as herein 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 hereinotherwise recited ; that the Mortgagor �vill warrant
<br /> and defend the same against the lawfui claims of all 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 /> PROVIDED AI:WAYS, and these presents are executed and delivered upon the following conditions, to � � � � . � � _
<br /> Wlt :. �, . �: � �. : . � .. , ti ... � . , � , . �. . . . . ... .
<br /> Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principa] sum with interest from date
<br /> at the rate of -- Eight dnd One h81f- per centum ( -8���0 ) per annum on the unpaid balance until paid_
<br /> The said principal and interest shall be payable at the oEfice ofCOtnRIePCidl FedEral SdVings & Loett A5511 .
<br /> in OrtW ha , Nebl^eska , 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 Thr'ee Hundt'Cd Twenty-TWO and 98/ 1Q0 '
<br /> Dollars (�- - 322 . 98--- ) , commencing on the first day of June , 19 7$ , and continuing on
<br /> the firat day of each month thereafter untit said note is futIy paid, except that, if not sooner paid, the frnaI
<br /> payment of principal and interest shall be due and payable on the first day of Nldy , 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 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 instailment due date or thirty days after such prepayment, whichever is eazlier.
<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 atated) on the first 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 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 will become delinquent, such aums 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 ( a) 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.
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<br /> Any deflciency in the amount of any such aggregate monthly payment shall, unlesa 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 a "late charge" not exceed-
<br /> ` irig foar per centum (4 %)� of any install ment �vhen paid more than fifteen ( 15 ) days after the
<br /> ' = 'due da:te the�'eof ta. cover the extra expeiise involved in handli�lgdetinquent paxments, butauch
<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 indebtedness and
<br /> all proper costs and expenses secured thereby.
<br /> S. If the total of the payments made by the Mortg�agor under (a) of paragraph 2 preceding shall
<br /> exceed the amount of paymenta actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> assessinenta or�insurance premiume, as the case may be, such excess shal] 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 /> ahall be refunded to Mortgagor. If, however, sueh 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 /> truatee, any amount neceasary to mak= up the deficiency within tkirty (30 ) days after written notice from ,
<br /> th�e„Mortgagee atating the, amount of the deficiency, which notice may be given by mail. If at any time
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<br /> the Nt�ot�gagor shall' tender` to the Mortgagee, in accdrdance with the provisions of the note secnred
<br /> hereby, full payment of the` entire indebtedneas represented thereby, the Mortgagee, as truatee, 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 a public sale of the premises co�ered hereby, or if the
<br /> Mortgagee acquires 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 /> amount then remaining to -credit ,thg Mortgagor , under (a) of Aaragraph 2 preceding, as a credit on the -' "
<br /> intereat accrued and unpaid and'the' balance to the prin'cipal then remaining unpaid oti ' saiJd` aote. ; ` s,F, ;, ''
<br /> �< ., 7 . .
<br /> 4. The lien of this instrument shall remain in fullyforce and effect during any postponement or exten- R '�
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<br /> sion of the time of payment of the ind@btedness or any part thereof secured hereby. ` �
<br /> 6. He will pay all ground rents, taxes. assesamenta, water rates, and other governmental or munici- � ,,, ,
<br /> pal cttarges, 8nes, or impositions, levied upon said premises and that he will pay all taxes levied upon this a� "' '. ` t
<br /> mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied ; `' j�`� - -
<br /> , ;i�
<br /> under the lawe o£ 1�'ebraska againat the Mortgagee, or the legal holder of said principal note, on account of
<br /> thia indebtednesa, 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 1Sortgagee. In default
<br /> thereof the Mortgagee may pay the same. �
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