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To HAVE AND To HOLD 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 will warrant <br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes <br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of <br />1 „ the Mortgagor in and to the above-described premises. <br />V 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 (8-50/0 per annum on the unpaid balance until paid. <br />The said rincipLal and interest shall b6 payable at the office of First Federal Savin sand Loan <br />Jpincoln 1a3c t�t ord of P,6nco n <br />in , or at such other pace as ie io der o ie no e may designate in . <br />writing delivered or mailed to the Mortgagor, in monthly installments of Taro 'Hundred Fifty-three and 66/1 <br />Dollars ($ 253.66 ), commencing on the first day of May ,19 75 , and continuing on <br />the first day of each month thereafter. until said note is fully paid, except that, if not sooner paid, the final <br />payment of principal and interest shall be clue and payable on the first day of April 2000 ;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 ons <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 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 terms of the note secured hereby,.Mortgagor will pay 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 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 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 (a) 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) 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 clue (late 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 />ing foci- per centum (4%) of any install meat when 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 indebtedness 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 />assessments or insurance premiums, as the case may be, such excess shall 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 />shall 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) (lays 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 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 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 commencement of such proceedings,! or at the time the property is otherwise acquired, the <br />amount 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 principal then remaining unpaid on said note. <br />A. The lien of this instrument shall 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. <br />5. He. -will pay all ground rents,:taxes, assessments, water rates, and other governmental or munici- <br />pal charges, fihes, or impositions, levied upon said premises and that lie will pay all taxes levied upon this <br />mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied : <br />under the laws. of Nebraska against the Mortgagee, or the legal holder of said principal note, on account of <br />this in(lebtedness, 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 official receipts therefor to:the Mortgagee. -In default <br />thereof. the Mortgage'6may pay the same. <br />