|
00940
<br />To HAVE AND To HOLD the same unto the M )rtgagee, as herein provided. ',Mortgagor represents to,
<br />and covenants with,. the Mortgagee, that the Mo �tgagor has good right to sell and convey said.piemises;
<br />that they are free from eiicufnbrance, except as �zereinotherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of ill persons whomsoever. Mortgagor hereby ielznquisiles
<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 e. �ecuted and delivered upon the following conditions, to
<br />wit
<br />Mortgagor agrees to pay to the Mortgagee, or Iorder, the aforesaid principal sum with interest from date
<br />at the rate of eight and' one half per centlzm '( g• 5'o) per annum on d4unpiid balance'until paid.
<br />The said principal and interest shall be payable at tlle,omce of . Fir.st Federal: Savings and 'Loan` .
<br />Ass c'att on f£ Li Coln
<br />in Lincoln , or at ucll other place as tpie'11olc er of the note may designate in
<br />writing delivered or'mailed to the Mortgagor, in Monthly installments of One Hundred Six acid 88/100
<br />Dollars($ 106.88 ); commencing on the firsh day of Odnber i9 75, and continuing on
<br />the first day of each month thereafter until saidote 'is fully paid, except that, Minot sooner paid,, the final
<br />payment of principal and interest shall lie due and payable on the first day of September '2005; all
<br />according to the terms of'a certain promissory •zic to of even elate herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as lier6inbej ore provided. Privilege is reserved to prepay,,: at any
<br />time, without. premium or fee, the entire indebt dness or any part thereof not less than the amount -of one
<br />installment, or one hundred dollars ($100.00), rhichever is -less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment,, other tha i on an installmentdue date, need not be credited until
<br />the next following installment due date or thirty �ays after such prepayment, whichever is earlier'.:.
<br />2. Together with, and in addition to, -the mo lthly payments of principal and interest payable under
<br />the terms of the note secured hereby, Mortgagor Mill pay to Mortgagee; as trustee, (under the terms of this
<br />trust as hereinafter stated) on the first day of e, ch month until said ilote':is fully paid
<br />(a) A sum equal to the ground rents, if any, ext due, plus the premiums that will next become due
<br />and payable on policies of -fire and otl er hazard insurance !covering `the mortgaged property,
<br />plus taxes and assessments next due n the mortgaged property (all as estimated by the Mort=
<br />gagee, and of -which the Mortgagor• is i otifzed) less all sums already paid therefor 'divided by
<br />tlle'lltmlber of;months to elapse befor( oil e month prior --to ythe'date when such grorind rents,
<br />premiums, taxes and assessments wil become delinquent, such sums to be held by _-Mortgagee
<br />in trust to pay said ground rents, pro iiiunis, taxes anti special assessments.
<br />(b) The aggregate'of the amounts payable 1)ursiiazlt to subparagraph (a) and those payable on the
<br />note secured Hereby, shall be paid in a single payment each Imoiltll,,to be applied to thefollow-
<br />ing items in fire order stated:
<br />i
<br />(I) grouild rents, taxes, assessnte 1t$,.:fire and other hazard insurance premiums-.
<br />(II) interest oil the Mote Secured 11 reby; and
<br />(III) amortization of the principal of -said note.
<br />Any deficiency in the amount of any s tcll:aggr•egate monthly payment shall, finless made good
<br />by the Mortgagor prior to the clue dat : of the next such payment, constitute an event.of default '
<br />under this mortgage. At Mortgagee ls option, Mortgagor will pay a'"late charge" riot exceed-
<br />ing four: per centum (4%). of any hisall�nlent «Alen paid'',niore-than fifteen (15) daysafter the
<br />due elate thereof to cover tile extra ex ense involved in handling delinquent payments; but such
<br />"late.cllarge"'Shall not be payable out of ;the proceeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such proc ds' -are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured thereby. i
<br />3. If the total of the payments mane by th ( Mortgagor under' (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made byl the Mortgagee, as trustee, foi ground rents, taxes and
<br />assessments or insurance premiums, as. the case may be, such excess shall'be' credited by tile' Mortgagee
<br />on subsequent payments to be made by the Mortg Igor for such items:or, at Mortgagee's option, as: trustee,
<br />shall be refunded to Moo gor. If, however, such monthly payments shall not be sufficient to' pay such
<br />items when the same sh4ll become due and pay�Iid
<br />1e, then the Mortgagor shall, 'Pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the de jj ney within thirty (30) days'!after written 'notice from
<br />the Mortgagee stating the amount of the defzciei',icy, 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 indebtednes represented thereby, the Mortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, cjredit 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 public sale of the premises covered hereby;or if the
<br />Mortgagee acquires the property otherwise afte default, the Mortgagee; as #ustee, shall apply, at the
<br />time of the commencement of such proceedings, or at the time the �pioperty: 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 tl 'e principal then: remaining unpaid on said note.
<br />4. The'lien of this instrument shall remain ir full 'force and effect during any postponement or exten-
<br />Sion of the time of payment of the indebtedness o any part thereof secured hereby.
<br />5. He.will pay. all ground rents, taxes, assessments,. water rates, and other' kovernmentaf or'munici-
<br />pal charges, fines, or impositions, levied upon sai& premises and that he; will pay. all taxes levied upon this
<br />mortgage, or the debt secured thereby, together N� ztl any other taxes or assessments which maybe levied
<br />under the laws of Nebraslt•a against the Mortgagee or.the legal holder of said principal note, on: account of
<br />this indebtedness, •except when payment for all si ich items has theretofore been; made under (:a) of para-
<br />graph 2 hereof, and'.he will promptly deliver the sfi7cial receipts therefor to. the Mortgagee ;.In default
<br />thereof the Mortgagee may pay the same. I
<br />17 :
<br />s
<br />
|