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 laidful 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 />Mortgagor agrees to. pay to the -Mortgagee, or order, the aforesaid principal sum_with interest from date '
<br />at the rate of ; _ eight per centum; (8.0 % er annum on theurpaid balarr, until paid.
<br />The said principal and interest shall be payable at the office of Association
<br />is Federal Savingsco n - oan
<br />Association of Lincoln
<br />in Lincoln , 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 One hundred eighty-nine and 39/00
<br />Dollars ($ 189.39 ), 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 May, J. 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 thanon 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 clue 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 hum' ber of months to elapse before one month prior to the (late 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 t6 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 install merit 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) days 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 />4. The lien of this instrument shall remain infull 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- p4y. all ground rents, taxes, assessments, 'water rates, and other governmental or munici-
<br />pal.charges,.fines; orimpositions, 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 --vyill' promptly deliver: the official 'receipts therefor * to the Mortgagee. In default
<br />thereof the Mortgagee may pay the same.
<br />
|