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0091.25
<br />TO HAVE AND TO HOLD the same unto the Moi;tgagee, 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 liereinothertvise roc tied; that the Mortgagor will warrant
<br />and defend the same against the lawful'claims of all persons ivjioniso6ver. ,! Mortgagor hereby 'relinquishes
<br />all rights of homestead, all marital riglits,.eitller 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 and One-half per centum; ( 8.5/o) per annum 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 />Assoc a 1 of LLincoln
<br />in Lincoln , or at such other place as the lolder.of the note may.' esignate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of ;One Hundred ID-Tenty-three and 03/
<br />Dollars ($123',03 );, commencing on.the first day of 'October ,.-19 75 , and continuing on
<br />the first day of each month thereafter until said note is fully1paid, except that, if, not sooner paid, the final
<br />payment of principal and interest shall be due and payable on the first day of September 2005 ;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 />i
<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 />prepayment,
<br />•the date received. Partial other than on an ins+tallme4 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 o£ principaland interest payable under
<br />the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (udder the terms of this
<br />trust as hereinafter stated) on the first day of each month until saiif note isfully paid:
<br />(a) A sum equal to the ground rents, if any, nest due, plus the, premiums that will next become due
<br />and payable ''oil policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due on the mortgaged property .(all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all stens already paid therefor divided by
<br />the number of months to elapse before'one month prior 16 the elate when such ground rents,'
<br />premiums, taxes and assessments will become delitlquelit,, 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 to 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 j
<br />(III) anlol•tization of the principal of said note.
<br />Any deficiency in the amount of any su*cll aggreg=ate motltllly payment shall, unless made good
<br />by the Mortgagor prior to the due (late of the next such piayment, cot)stitute an event of default
<br />under this mortgage. At Mortgagee's option, 'Mortgagor will pay a "late charge" `not exceed-
<br />ing four per'centmn (40,') of any install ment 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 airy sale made to satisfy the indebted-
<br />ness secured licreby, 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 anil
<br />assessments or insurance premiums, as the case may be, such excess shall bre 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 inot 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 />d. The lien of this instrument shall remain in full force and efi;ect during. any postponement or exten-
<br />siori 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 upoil 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:will promptly deliver the official receipts tlier'efor, to the Mortgagee: In default
<br />thereof the Mortgagee may pay the same. >>
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