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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 />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 />MQrtgagor 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
<br />6-50 %) _per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of ' irst Federal Savings - and Loan
<br />in Lincoln , or at such other place ilsOeiliei�r off ticO`�nay designate in
<br />writing delivered or mailed to the'Mortgagor, in monthly installments of eighty-six and 791100----
<br />Dollars ($ 86.79' ), commencing-on' the first day of . May ,1975 , 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 due and payable on the first clay ofAppril 1995 ;,all
<br />according to the terms of a certain promissory note of even date herewith executea by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, a's hereinbefore provided. Privilege i's 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 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 refits, 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, sliall 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 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 />ing four per centum (4%)• of any installment 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 theMortgagee, as
<br />trustee, any amount necessary to make up the deficiency within thirty (30) daysafter 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 />tinie '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 />4.' The.lien of this instrument sliall remain in full force and effect during any postponement or-exten-.
<br />sion of the timeof payment, of the indebtedness or any part thereof secured hereby. �� 1
<br />5. He'will.p,4y,� all ground rents, taxes, assessments,, water rates, and othergovernmental or inunici-
<br />pal charges, fines, or. impositions, levied upon said premises and that he�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 indebtedness; except :when payment for all such-items has theretofore been made under; (a) of para-
<br />graph 2 hereof, and he.}viii promptly deliver the offieial'receipts therefor.to the Mortgagee. In default
<br />thereof the Mortgagee may pay the same. -
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