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rATAMIEWS
<br />To A�VE AND' To HOLD the same unto the Mortgagee, as here I in provided. Mortgagor represents to,
<br />and covenants 'With, the Mortgagee, that the Mortgagor has good right to sell and convey said'pre . mises;
<br />that they 'are free from encurnbrance,.exc'ept as liereinotherwise recited; that the Mortgagor Will warrant
<br />and defend the same against the lawful claims of all persons whom I soever. Mortgagor hereby relinquislies
<br />all rights,of h
<br />iomestead, all marital rigl is, either in law or in e'quity,'aiid all otli6r contingent interests of
<br />the Mortiagor in and to the above-described premises.
<br />PROVIDEDALWAYS, and these presents are executed and delivered upon the following-'con'ditions, to
<br />wit:
<br />111ortgagovagrees 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 C'entum ( 8.Tlo) er.annum' on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Airst Federal Sa * n nd Loan
<br />Asso L i c g a
<br />-Lincoln Qiat Refooff h �n n
<br />in or' at such other place as the no 11 0 m
<br />writin I - o;e ay designate in
<br />. g delivered or mailed to the iklortgagor,- in monthly installments Of One Hundred Sixty-eight and 80/100 -
<br />Dollars ($ 168.8o ), commencing' on the first day of November' - 19 75 , and continuing on
<br />the first day of each rnonth thereaf ter until said note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall be due and payable on the first'day of October 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 liereinbefore provided. Privilege is reserved -to prepay at any
<br />time, without premium or fee, the entire indebtednes's 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 cred ited on
<br />the date receive ' d. Partial prepayment, other than on an installment due date, need not be creidited until
<br />the next following installment due date.o"r 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 tlie ground rents, if any, next due, plus the premiums that will 1, next �ecom'e 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 therefordivided by
<br />the number of months to elapse before one' month prior to the date when such -grdund rents,
<br />premiums, taxes and assessments will 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 aggregate of theamounts 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 iterns in the order stated:
<br />(I) ground rents, taxes, assessments, 'fire and other. hazard insurance premiums;,
<br />(ii) intereston the note secured hereby; and
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the aniount of any sucliaggregate monthly payment shall, unless,made good
<br />by the k1ortgagor prior to the due (late of.the next such payment, constitute an event of default
<br />under this mortgage. At lWortgagee's option, Mortgagor will pay a "late cliarge",*not exceed:
<br />ing four per centuni (4%;) of any install ment wheil 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 any sale made' to satisfy tli'e indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indeb�'edness 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 prededing shall
<br />exceed the amount of payments actually, made by the Mortgagee, astrustee, for ground rents', taxes afid
<br />assessments or insur r
<br />ance! premiums, as the case may be, such excess shall be c edited. by the Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's optioni 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 Mdrtgagee, as
<br />trustee, any amount necessary to make up the deficiency within thirty (30) days;after written hotice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by mail. if at an*y 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 />i.n 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 ahpily, 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 />4. The lien of this instrument shall remain in full force and effect 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 all ground rents, taxes, assessments, Water rates, and other governmentaVor 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 Nebiaska against the Mortgagee, or'. the legal holder of said principal note, on account of
<br />this.indebtedhess, except when payment for all such items has theretofore been made under (d) of para-
<br />graph 2 here6f,.'and he will promptly* deliver the official receipts therefor to the Mortgagee. :In default
<br />&:re 4 ih' e� k olitgaigee may pay the same.
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