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00885
<br />To HAVE Arra To HOLD the same urlto*tlle Mortgagee, as llereiii 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.encumbralnce, except as llereinotherwise i•e'cited that the Mortgagor will warrant."
<br />and defend the saine against the lawful claims of all persons whomsoever. ':Mortgagor liereby relinquishes;
<br />all rights of homestead, .:all marital riglits, either ill law of 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 lIortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of eight and one-half per centum ( 8.y/o) pernlnurfi on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of First Federal: Savings and Loan
<br />in Lin QQ or at such other p11ce�1°stletlloqie °of1iliStler►ay designate in
<br />writing (�el� ered or; mailed to the 1Iortgagor, in monthly installnieri s of One Hundred Twent -one and 6810(
<br />Dollars ($ 121.68 ); commencing on.the first day of September 19 75 , and continuing on
<br />the first day of each, month thereafter until said note is fully paid,"eacept'ahat, if not sooner paid; the final
<br />payment of principal anti interest shall be due and payable on the filtst day of August 2005 ; all'.
<br />according to the terms of a certain promissory note: of even date lierewitli executed by the said Mortgagor.'
<br />The'Mortgagor further agrees ,
<br />1. Fie will pay the indebtedness, as liereinbefore provided. Pi fvilege': is reserved to prepay at any
<br />time, without premiumor fee, .the entire indebtedness or any part thereof;riot 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 off principal and interest payable under
<br />tlte'terms°of'tlie 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, nest due," plus the: premiums: that will next. kiecome due
<br />and payAble on policies of Are and other hazard insurance cov6ring the mortgaged property,.
<br />plus taxes and assessments next -due on Mlle mortgaged property '.(all as estirrlated`by the Mort-
<br />gagee, acid or which the Mortgagor is notified) less all shins already paid therefor'divide(i by
<br />the number of months to elapse before one month prior• :to the elate when such"ground rents,
<br />premiums, taxes and Assessments ,%,ill become delinquent, such surns to be held by Mortgagee
<br />in trust to pay said ground. rents, premiums, taxes and special' assessments.
<br />(b) Tile aggregate of the amounts payable pursuant to subpar'.agraplr; (a) and those payable on the
<br />note secured hereby, shall be paid in a single payment. e*Ach month, to be applied to the follow-
<br />ing items in the order stated:-
<br />(I).
<br />tated:(i). ground rents; taxes, Assessments, fire and other. hazard nl suralnce premiums;
<br />(II) interest on the note! Secured hereby; and
<br />(III) amortizationof th,e principal of said note
<br />Any deficiency in the amount of any such aggregate monthly payinent shall, unless made good
<br />by the _llortgagor prior to the due (late of the next such payment; "constitute an event of default
<br />-under this mortgage. * At -Mortgagee's option, Mortgagoi• will pay a "late charge" not exceed-
<br />: jog four per con tum. (4 o )' .of any install Arent when paid�nlro•e thali fifteen (15) days after the
<br />due (late thereof to cover the extra expense involved in haiulling delinquent payments, but such
<br />ate cha ge" shall not be payable out of the proceeds of !any sale,made to satisfy.tlle indebted-
<br />ness secured hereby, unless such proceeds are sufiicient.toi discharge the entire indebtedness and
<br />all proper costs and expenses secured thereby.
<br />3. If the, total of the payments made b the Mortgagor under i a of
<br />Y;() paragraph 2 preceding shall
<br />exceed the amount of payments aettially made by the Mortgagee, as (trustee; for ground rents, taxes and
<br />assessments 'or insurance premiums, as the case may be, such excess slna1be 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 suffiicient' 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 file 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, theMortgagee, as trustee,_ shall,
<br />in computing the amount of such indebtedness, credit to the account of the,lVI.ortgagor any credit balance
<br />accumulated under the provisions of ' (a) of paragraph 2 hereof,' i If there shall be a default:un' der 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 th@i property ;is otherwise, acquired, the
<br />amount then remaining 1 to credit the Mortgagor under (a) of paragraph 2 preceding, as acredit on the
<br />interest accrued andunpaid and the balance to the principal then remaining unpaid on said ;nbie.
<br />4. The lien of this instrument shall remain in full force and effect'duringanypostponement or eaten-
<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'otlier 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 may be levied
<br />under the laws, of Nebraska against the lIortgagee, 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 will promptly deliver the official- -receipts therefor to 'the Mor
<br />tgagee:..In default
<br />thereof the Mortgagee may pay the same.
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