|
008874
<br />To Hnv1; AND To
<br />IIOLD the same unto the Mortgagee, as llerein;:pi ovided. ;Mortgagor represents to,
<br />and covenants with, the Mortgagee, that'tlle Mortgagor has good right to.sell and convey said ;promises;
<br />that they'are f>;ee frons encumbrance, exi:ept as liereinotherwise recit'e'd; that the Mortgagor %vilI warrant
<br />and defend the same against the ran fur elainls of all persons\wlionlsoever. M610 tgagor liereby.relinquislles
<br />all rights of homestead, all marital rights„either in law or in equity,'sand all 'other contingent interests of
<br />the Mortgagor in and to the above-described premise's.
<br />PROVIDED ALWAYS, ihd these presents are e%ecuted and delivetd upon "the following conditions, to
<br />Wit:
<br />Mortgagor agrees, to'pay to the Mortgagee, or order, the aforesaid pi incipll suns with interest from date
<br />at the rate of ' eigYit 'and one-half :tier centum ( 8 . g/o) per aliliiim ori the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of First ; Federal Savings and Loan
<br />Asso att; i of VTine In
<br />in Lincoln � .or at such other place as�ISe:Ilo�'ciner of - ie no�e may, designate in
<br />Writing delivered or mailed to the lortgagor, .in monthly installmentsi of Trio; Hundred T\aenty=t\ro and 22100
<br />Dollars ($222.22 . ; )> comnnencing pn the first clay of September 19 75 ,and continuing on
<br />the first day. of each month thereafter un;t`il said note is fully pail, except that, kif not sooner paid, the final
<br />payment of principal and interest shall be;ilue and payable on the first clay of .: August 2005 ; all
<br />according to the terms of a certain pronllssory'note of even elate herewith e e'cuted by the said;Mo-rtgagor. `
<br />The Mortgagor ftrtler agrees:
<br />1. He will a the i idebtechi ss a ]i �iinb f r i provided. Pri\ ire e'`is reserved
<br />11 y c e s ere e o d p g ese ved to prepay at. any
<br />time, without premiuiil or fee, the entire indebtedness or any part thereof not less than the arnouirt of one
<br />installment, or :one hundred dollars ($100.0.0), Whichever is Mess. Prepaymentin full shall be':credited on
<br />'the date received. Partial prepayment; other .than on an installment: dire date _need not -be credited until
<br />the next follgwing installment due date, or. thirty days after such prepayfnent, 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, (tinder the.terms of this
<br />trust as hereinafter stated) on the first :clay of each: month until said !note is frilly paid:
<br />(a) A sum equal to'tlle ground rents, if any, next clue, plus the'p'-c' mituns that will next become clue
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes 'and assessments rle"Xt due oil the illortgaged pi•olicrty, all as estimated by the Mort-
<br />gagee, and X \vliieh the Mortgagor is notified) less all stlnis already paid therefor divided,.by
<br />the number of months to elapse before one month 'prior to ;the elate when such ground rents,
<br />premilulns, ta'>xes and assessliients will become delinquent, s,uch:su is 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 (d). and those payable' on the
<br />note secured hereby, shall be )laid. in a single payment each month, to be applied to the follow-
<br />-ing items in the order stated -'
<br />(I) grouper rents, taxes, �assessmeilts, fire and.otller-ha ard,instdrance premiums;
<br />(II) interest; on the note speured hereby; and
<br />(III) aniortizationof the principal of said note.
<br />Any deficiency ill the annount of any such aggregate monthly paynl`ent sllall,-unless Aiade. good
<br />by the Mortgagor prior to the due date of the next such liaymelit, 66iistitute all eve'nt'of default..
<br />under this'; mortgage. At Mortgagee's option, lIortgagorjwill payla "late.chaige":'not exceed-
<br />ing four per `centum (4%;) of any install nlent when paid iiiore thaii fifteen (15) clays'after the
<br />due date the to cover tlie'_extra expense involved ill' handlingdellllgllelltpajments, but such
<br />"late cliarge" shall riot be pad able out of the proceeds of alj� sale ilade to satisfy the indebted- '
<br />iiess secured hereby, unless such proceeds are sufficient to din cliarge.tlie 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 1iortgagori " If,` however, such monthly payments shall' not be sufficient to `pay such
<br />items when the same shall become clue and•payable, then the Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to mal:e'up the deficiency within -thirty (30) days after \ti"ritten 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, dote secured
<br />hereby, frill payment ''o f the entire 'indebtedness represented thereby, the Mortgagee, as, trustee; shall,
<br />in computing the amount of such indebtedness, credit to the accou-it 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, dor if the;
<br />Mortgagee acquires the',property othQ;I`wise 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 iemainiilg'. unpaid on said note.
<br />d. The lien of this iiistrunnent sllall-reriiain in full force and effectiduring sny liostponement or exten-
<br />sion of the time of payment of the indebtedness or any part thereof ;secured lier6by.
<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 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 macre tuider (a)'of para-
<br />gKaph 2 liercof, and lie will promptly deliver the official receipts therefor to !the Mortgagee.- In default
<br />thereof the Mortgagee may pay the same.
<br />
|