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<br />To HAVE AND To HOLD the same unto the Mortg . agee,'as herein provided. Mortgagor represents to,
<br />and covenants with', tile Mortgagee, that'the Mortgagor has good right to sell and,convey said premises;
<br />ant
<br />that they. are free from encumbrance, except as licreinotherwise recited; that the Mortgagor will Nvarr,
<br />and defend the same against the lawful claimsof all persons whonisoever. Alortgagorlierebyreliiiqtiislies
<br />all rights *of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br />tile 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 tothe Mortgagee, or order, the aforesaid principal sum Nvith. interest from date
<br />at the rate of nine per centum ( 9 . 0 %) pgr apnt n
<br />ehon the unpaid balance until paid.
<br />'irs Ile eral Savings and Loan
<br />The said principal and interest shall be payable at the office of Association of incoln
<br />in Lincoln or at such other place as the holder of tile note may designate in
<br />writing deliv6red or mailed to the AlIortga(y'or, in monthly installments of One Hundred Ninety-seven and 14
<br />Dollars ($ 197.14 commencing on the first day of January 1976 , and continuing oil
<br />the first day of each month thereafter until said noteis fully paid, except that, if not sooner paid, the final
<br />paymentof principaland interestsliall be dueand payable oil the first day Of December 2005 ;aII
<br />according to the terms of �a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor f u rther agrees:
<br />1. He will pay the indebtedness, as liereinbefore provided. Privilege is reserved to prepay at any.
<br />time, without premiuln or fee, the entire indebtedness or ally part thereof not le ' ss 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 datd 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 />tile 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 untif said note is fully paid -
<br />(a) A sum equal to the ground rents, if any, next due, plus tli'e 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 propei�ty (all as estimated by the Mort-
<br />gagee, and of which the M6rtgagor is notified) less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date when such ground rents,
<br />premiums, taxes and assessments will beconie delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special assess m�eiits.
<br />(b) The aggregate of the amounts 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 items in the order stated:
<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(Ii) iiiterestoiitlieiiotesectire(Iliereby;,iiid
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br />by the k1ortgagor prior to the due (late of tile next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option,'INIortgagor will pay I "late charge" not exc6ed-
<br />ingfour percentuni (4011o) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in liandling'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 expense's secured thereby.
<br />3. If * the total of the payments made by the Mortgagor under (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 1M.Ortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to make'up the deficiency within,thirty (30) daysafter 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 piIyment of the entire indebtedness represented thereby, the 41ortgagee, 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 unde'r 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 he will pay all taxes levied upon this
<br />mortgage, or the debt secured ti.iereby, together with any other taxes or assessments which may be levied
<br />under the laws of NeVraska against the Mortgagee, or the legal holder of said principal note,. on account of
<br />this indebtedness, except when payment for all such itdms 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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