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To HAVE 'ANb To HOLD the'same unto the Mortgagee, as herein provided. lMbrtgagor represents to,
<br />and covenants :with, the Mortgagee, -that-tile Mortgagor has good: right to sell and convey said premises;
<br />..that they are free from encumbrance, except as liereinotherwise recited; that the Mortgagor will.wat-rant
<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 otlier. contingent interests of
<br />the AIortgagor•ili and to the above-described premises.
<br />PROVIDED ALWAYS, and these presents are executed and delivered- upon the following conditions, to
<br />wit:
<br />Mortgagor agrees to pay to the Mortgrigee, or order, the aforesaid principal sum with interest from date
<br />at the rate of ` eight per centum (8.0 %, ler nl to on tthe unpaid balance until paid.
<br />The said principal and interest shall lie payable at the oflice of Association o Savings• and Loan.
<br />l 1 Association of Lincoln
<br />in Lincoln , or at such other place as the holder of the note may designate ill
<br />writing delivered or mailed to the Mortgagor, in in installments of One Hundred Thirty-nine and 22�
<br />Dollars (s 139.22 ), commencing on the first day of June : ' ,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 due and payable on the first day of Play 2004 ;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 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 assessmerits 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) Thea ggregate 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 />-
<br />nig 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°0) of any installment when paid'more than fifteen (15) days after the
<br />due elate thereof to cover the extra expense involved ill 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. j
<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) days after written notice fKom
<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 I 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 />4. 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, fines, 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 indebtedness, except when payment. for all such items has theretofore been made under (a) of
<br />para-
<br />this
<br />graph 2 hereof, and lie will promptly deliver the official receipts therefor to the Mortgagee. In default
<br />thereof the Mortgagee may pay the same.
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