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To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to, .
<br />and covenants with, the Mortgagee, that the Mortgagor has good fright' to sell and convey said premises.;
<br />that they are:free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant
<br />and defencl'the same against the ]aNvful claims of all persons whon.soever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights; either 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 1ortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of : eight and one-half per centum ( 8.5%) per annum on the unpaid balance.until p.iid.
<br />The said principal and -interest shall be payable at the office of First Federal Savings and Loan
<br />AssoCi at' qn o inc In
<br />in Lincoln , or at such other place as,t'lre lro�ger o ti% note may designate in
<br />writing delivered or mailed to the Mortgagor•, in monthly installments of Two Hundred Six -and 84/1oo----
<br />Dollars ($ :.206.84 ), commencing on the first day of October , 1975 , and continuing on
<br />the first day -.of each month thereafter until said note is fully paid,'except that, if iiot sooner paid, the final
<br />payment of principal and -interest shall be clue 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 />1. He will pay the indebtedness, as l.ereinbefore 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 />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 of. principal and interest payable under
<br />the terms of the 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, next clue, plus the: premiums that will next become due
<br />and payable on 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 sums already paid therefor divided by
<br />the nrmlber, of months to elapse before one month prior .to the date when such ground rents,
<br />premiums, taxes and assessments Evill become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and Special assessments.
<br />(b) The. .
<br />aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br />note secure] hereby, shall be -paid in a single payment each month, to be applied to.the follow-
<br />ing items in the order stated: j
<br />t.
<br />(i) ground rents, taxes, assessments, fire and otl.er-llazard insurance premiums;
<br />(II) interest on the note secured hereby; and
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly paylnent:shall, unless made good
<br />by the Mortgagor prior to the clue (late of the next such -p constitute all event of default
<br />under this !mortgage. At I)Ior.tgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum (4%) of. any install ment when paid more than fifteen (15) clays 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 any sale made to satisfy the indebted-
<br />ness secured hereby, 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 uncle.- (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 not 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 -ally 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 par,igrapl.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 of 'qt during 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 ilwground rents, takes, assessments, water rate's; and other g'overrrmel.tal:or.munici-
<br />pal cl.arges,`fines, or impositions, levied upon said premises and that,he will pay all taxes levied: upon this
<br />mortgage, on -the debt secured thereby, together with ally -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 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 Mortgagee. In default
<br />thereof the Mortgagee may pay the same.
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