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008857
<br />To HAVE AND To HOLD the same it the 'Mortgagee, as herein. provided. Mortgagor represents to,
<br />and covenants with, the IVlortgagee, that the Mortgagor has'good right to;sell and convey said premises;
<br />that they are free from ellcuunbrance, except as ltereinotherwise recited ; drat the Mortgagor will warrant
<br />and defend thelsame against the lawfttl'claims of all persons WhonlsoevCr. Mortgagor Hereby' relingttislies
<br />all rights of homestead, all marital rights, either ill law or in.equity,land all:other contingenHiltekests of
<br />the Mortgagor• in and', to the above-described premises. i
<br />PROVIDED ALWAYS, and these presents are execrated and delivered upon the following conditions, to
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<br />wit: ;
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with inter e'st'from date
<br />at the rate of eight and one-half per centum!"( 8.5 %) per annum on'tile unpaid balance until paid.
<br />The said principal and interest shall be' payable'at theoffice of First Federalr STa'vings and`Loan
<br />in Lincoln , or at such other lilA4sle Ilnle° of Lie noe may; designate in ,
<br />writing delivered or mailed to the Mortgagor?,' in monthly installnlents�ofTiio: Hundred Fifty .and 26 100---
<br />Dollars ($250.26 ), commencing on the first day of September 1975 , and continuing on
<br />the first clay of each month thereafter' until said note, is fully paid, except that; if not sooner Haid, the final
<br />payment of principal rind interest shall be clue and payable on the first clfty of August 2005 ;,all
<br />according to the terms of a certain promissory note of even date herewith execti,ted by the said AIQ. tgagor.
<br />The Mortgagor further agrees:
<br />1. He willpay the indebtediiess, as liereinbefore: provided. Piliv,ileg& Is" reserved to prepay at-any
<br />time, without premium or fee, the efitire indebtedness or any part thlcreof not less tllan.the i mount 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 redited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Togethep
<br />r with, �irid itl addition to, the monthly payments of rincipal and interest payable unde•:
<br />the terms of the note seeureci hereby, vtortgagor will pay to Mortgagee, as, trustee,. (tinder the terms df this
<br />trust as hereinafter stated) on the first day bf each month until said 'note is fully paid:
<br />(a) A sum equal,, to the ground rents, if any, ne\t clue, plus the premittnls that will, 11ext.beeom'e due
<br />and payal le on policies of fire and other hazardl insurance! covering. the mortgaged' property,
<br />plus taxes aii`d assessments next due oil the mortgaged property all as estimateclby the Mort-
<br />gagee, and of; which the NIoftgagor is notified) less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior tol the '(laid. when such ground rents,
<br />premitinist, taxes and assessments will become delinquent,, sucllisuiiis to be held by Mortgagee
<br />-in trust to pay said ground rents, premiums, taxes and SpecialaSse'ssments.
<br />(U) The aggregate of the amounts 'payable pum0ant to subparagl•apll' (ci) and those payable on the
<br />note secured hereby; shall be paidin a single payment each) month;) to be applied'to the follow-
<br />Ing items in the order stated: i s
<br />(I) ground 'rents, taxes,.assessments,:;fire and otller:llaZavd insurance premiums;.:
<br />(II) intereston the note secured hereby; and.
<br />(III) amortization of the principal of said note.
<br />Any deficiency 111 the 21111otlllt of aI1J' sUcil; aggregate Illotltl lly liaytllent shall, runless made good
<br />by the•NIortgagor prior to the clue (late of the next such,paymeilt, constitute an;evenf of default
<br />tinder this nloi•tgage. At Mortgagee's option, Mortgagor will pAy a "late charge" not exceed-
<br />ing four per Centuill (4%' ): of any installment when paidii lore than fifteen (15)'days after the
<br />due (late thereof to cover the: extra expense involved in'.1la ildling delinquent payrnents,`but such
<br />"late charge" shall not be payable out of the proceeds of any saI6made to satisfy the indebted-
<br />ness secured hereby, LlI11CSS SUCK ploceeds'are sufficientto dscliarge the entire indebtedness and
<br />all proper costs and expenses secured thereby.
<br />3. If the total of thepayments macre by the Mortgagor under ,(a) of ,paragraph 2. preceding shall..
<br />exceed the amount of payments actually made by the Mortgagee, astrttsted, .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 ir, A' 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 "thenzthe 1A,1oA6gor!shal1 pay to the Mortgagee, as:
<br />trustee, any amount necessary to make up the deficiency within thirty (30) days after Nvritte'n 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 ;tile provisions of the note secured
<br />hereby, full 'payment of the entire indebtedness represented tlldkeby, .the ;Mortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, credit to the accounts of the Mortgagor any credit Balance
<br />accumulated under the provisions of •.(a) of paragraph 2 hereof. rf there shall be a default under any
<br />of the provisions of this mortgage resulting in a public sale of tliejpremises' 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 7 proceedings, or it the -time the .property; is otherwise acquired, the
<br />amount then remaining to credit the Mortgagor under (a) of paragiaph: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 efPectAuring'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 nrunici-
<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 Neb asl:a against the Mortgagee, or the legal holder,of saUprincipal note, on account 'of
<br />this indebtedness, .except when payment for all such'items has tlieretofore'been made under: (a) of para-
<br />graph 2 heir eof,. 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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