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To HAVE AND To HbLD the same unto the Mortgagee, as herein 'provided. Mortgagor represents to,
<br />and covenants'witll; tlie�Mortgagee, that.the Nloftgagor has good right to 'sell and convey said. premises;
<br />I Q that they are free from. encun)brance', except as hereinotherwise recited ; that the Mortgagor. will warrant
<br />`j and defend the same against the laN1'flll claims of all persons whomsodver. Mortgagor heleby;relinquislles,
<br />all rights of ]lomestead, all marital rights, either in law or in equity and all other contingent interests of
<br />Q the Mortgagor In and•to the above-described premises.
<br />o PR0VIDED:ALWA1Ys, and these presents are executed and delivered upon the following conditions, to
<br />wit:
<br />Mortgagor agrees to pay to the ilIortgagee,`or order, the aforesaid p1.rincipal sum with interest from date
<br />at the rate,of eight and one-halfl)er centum ( 8.5i'o) per annum ohl the unpaid balance until Haid.
<br />The said principal acid interest shall be payable at the office of First Federsl Savings and' Loan
<br />Asso a _i of Llnco�n
<br />in Lincoln' ; or at such other place as �ie to�c�er of ttie note may designate in
<br />writing delivered or mailed to the.lIortgagor; in monthly installments of One Hundred Eighty-four and 54�1QE
<br />Dollars ($ 184-54 ), commencing on the first clay of September19 75 , and continuing -on.
<br />the first clay of eachl'month thereafter until said note is fully paid, except that, if not sooner ?)aid; the final
<br />payment of principal and interest shall be clue and payable on the firs! day of ` August 2005 all
<br />according to:the,terins of a certain promissory. note'of evert date lie re« ith executed by the said Mortgagor.::.
<br />The Mortgagorfurthe r agrees:
<br />1. He will pay the i'lidebtedness, as hereinbefore provided. Privilege; is reserved to prepay at any:
<br />time, without premium or fee, the entire indebtedness or any. part tliereof'not less than the amount of oiler:
<br />installment, or. one hundred dollars ($1.00.00), whichever is less. Prepaymeiit in full shall be.credited on:
<br />the date received. Martial 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 prepaymeiit whichever is earlier:
<br />2. Together with, and in addition t0, the monthly payments of :principal and interest l)ayable under
<br />the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terri)s 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 clue, plus thei:pren it: nis. that will next become due
<br />and payable on policies of fire. and other hazard insurance covel'ing the mortgaged property,
<br />plus taxes and assessments next clue oil the mortgaged pzoperty';(all as estimated by the Nlort-
<br />gagee, aild of which the Mortgagor is notified) less all shins aheady paid therefor. divided -by
<br />the number of months to elapse before one month prior j't,0 the :elate when such' -ground rents,
<br />pr•einiun s, taxes and assessments, will become delinquent, sucil;sim)s to be held by Mortgagee;,
<br />in trust to pay said ground rents, premiums, taxes and speciatasscsstnents.
<br />(b) The'aggregate of the alnotllltS payable.pnrsuant to subplragralilii (a) and those payable on the.
<br />note sequred:hei•eby, shall be paid in a Single payment 6a611 Inolltli, to be applied to the follow-,
<br />iiig items in the order'stated j
<br />(i) .ground rents, taxes, assessments, fire and other l azarcl;ii isuranee premiums;
<br />interest on the note secure(! hereby; and j
<br />(III) amortization of the principal of said note.
<br />Any deficiency.in the amount of any such aggregate monthly l)ai 'inept shall, unless made good'
<br />by the Mortgagor prior to tlie. due (late of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, AIortgag',oi• will pay a "late charge" not exceed=
<br />ing four,!, per cell tum. (4%) of any installment when pai'(1 more than fifteen (15) days After the
<br />due (late thereof thereof to cover the extra expense involved in !ranching delinquent payments, but such
<br />"late charge" shall not be payable out of the proceeds of any sale,n)ade to satisfy the indebted
<br />ncss secil
<br />red' lie r•eby, unless`such proceeds are suflicientto',discha •ge the entire indebtedness and.:
<br />all proper costs and expenses secured thereby. j
<br />3. If the total of the payments in de. by the Mortgagor unde (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' hot be sufficient to pay such'
<br />items. when' the same shall become due andpayable, then the Nlor�tgagor ;shall pay to the Mortgagee, as`
<br />trustee, any amount necessary to makeup the deficiency within thirty (30).: clays 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 tli'e 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 Moftgagor any credit balance
<br />accumulated :under the provisions of: (a) of paragraph 2 hereof: I If there shall be a default under an
<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 para"graph! 'preceding, as a .credit on the
<br />interest accrued and unpaid and the balance to the:principal then •rdmaining unpaid on said note.
<br />d. 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 />I
<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 he will pay all taxes levied upon this
<br />mortgage; or the debt secured thereby,' together with any other taxes or assessments which maybe 'levied
<br />under the laws of Nebraska against the Mortgagee, or the legal holder. of said principal note, on:accoimt 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'will promptly -deliver the official receipts therefor to the Mortgagee.; In default
<br />thereof the Mortgagee may pay the same, '
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