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009962
<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covOhnts with, the Mortgagee, that the Mortgagor has goo ' d right to sell and convey said premises;
<br />that they ire f ree f rom encumbrance, except as hereinotherwise.recited; that the Mortgagor will warrant
<br />'in(l(le.feii(ittiesaiiieagaiiisttlielaNvflilcl,titiisofai'll)ersoiisNN,Iibiiisoever. 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 Mortgagee, or order, theafor6said principal sum with interest from date
<br />0
<br />at the rate of eight and One-half per centunt ( 8 .5 �' ) pdr. annum on the unpaid balance until paid.
<br />The said principaland interest shall be payable at the office of First Federal Savings and Loan
<br />Asso
<br />in Lincoln or at such other place as Tilicalilofflero-ok- tElennM- A ay designate in
<br />writing delivered or mailed to the Aklortga.(ror, in monthly installments of One Hundred Thirty-four and 56
<br />Dollars ($ 134-56 ), commencing oil the first day of November 19 75, and continuing oil
<br />the first day of each month thereafter,until said note is fully paid,,e'xcel)t that, if not sooner paid, the final
<br />payment of principaland interest shall lie due and payable oil the first day of :October 2005 ; all
<br />according to the terms of a certain promissory note of even (late herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<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 />the date received. Partial prepayment, other than on an installment due date, need not be credited until
<br />Che next following installment due date or thirty days after such pr*epayment, whichever is earli.er.
<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 day of each month until said note is fully paid: ,
<br />(a) A sum equal to the ground rent�, if any, next 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 oil the mortgaged property (all as estimatedby the Mort-
<br />gagee, and of which. the Mortgagor is notified) less all sums already paid therefor divided by
<br />'the number of months to elapse before one month prior to the (late when such ground rents,
<br />premiums, taxes and assessments ,vill 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 the aniounts payable pursuant to subparagraph (a) and those payable on the
<br />note secured liereby, shall be paid in a single payment each month, to be applied -to the follow-
<br />ing iterns in the order stated:
<br />(1) ground rents, ta%es, assessments, fire and other hazard insurance premiums;
<br />(11) interest Oil the note secured hereby; and
<br />(III) aniortization of the principal of said note.
<br />Any deficiency in the aniount of in,), such aggregate monthly payment shall, unless made good
<br />by the 111ortgagor prior to the due (late of the next such payment, constitutean event of default
<br />under this mortgage. At Mortgagee's option, IVIortgagor will pay a "late chargeif not exc*eed-
<br />ing four per centunt (4r/'O) of any install ment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handlingdelitiquent payments, butsuch.
<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 tinder (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes all(].
<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 INfortgagor. 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 noticemay 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 indebiedness, 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 />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 governmental or munici-
<br />pal charges,. fines, or impogitions, levied upon said preinises 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 made under (a) of para-
<br />graph 2 hereof, and lie will promptly deliver the official receipts therefor to the Mortgagee. In default
<br />thereof the Mortgagee may pay the same.
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