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011077
<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represent . s 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 hereinotherwise recit * ed; that the Mortgagor will warrant
<br />and defend
<br />thesame againsttlie lawful clainisof all persons whomsoever. Alortgagorlierebyreliiiqtiislies
<br />all rights of homestead, all -marital riglits,-eitlier 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 />111ortgagor 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
<br />.5 �'o') per annum on the unpaid balance until paid.
<br />The said I)rincil)alindiiiterestsliallbepayibleattlie office of First Federal Savings and Loan
<br />Assmafif( o inc
<br />er
<br />I noyln
<br />in Lincoln or at such other pld6e as - ie io oi e e may designate ill
<br />writing delivered or mailed to the.Kortgagor, in monthly installments of Seventy-eight and 81/100 ----
<br />Dollars ($ 79.81 ), commencing on the first day of January , 19 76 , and continuing on
<br />the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall be due and payi1ble oil the first (lay of Dedember .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 lierehibefore 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 ai�d 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 due, plus the premiums that will next become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />Mort
<br />plus taxes and assessments hext due oil the mortgaged property (all as estimated by the I -
<br />gagee, and of which the Morfgagol- is notified) less all 'sums already paid therefor divided by
<br />the number of months to elapse before one mouth prior to the date when such ground rents,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />intrust 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 oil the
<br />note secured hereby, shall be paid in a single payment each inontli, 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 oil the note secured hereby; and
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the aniount of any such aggregate monthly payment shall, unless made good
<br />by the 111 ortgagor prior to the due (late of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum (4%) of any installment 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 any sale inade to satisfy the indebted -
<br />n . ess secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expense.s secured thereby.
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 prece:diiig 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 6.xcess 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 rdfunded 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, ai;ly 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 phyment of the entire indebtedness represented th.ereby, 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 />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 impositions, levied upon said premises and that lie 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 tli6 legal holder of said principal note, on account of
<br />this indebtedness, except when payment for all such items has theretofore been made unddr (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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