|
Sg_ 102048
<br />Teo INAvr AND To Now the *sane unto tM► Mortgagee, as herein, provided. Mortgagor represints to,
<br />and covenants with. the Uortsagee; that the Mortgagor has good right to sell and convey said premises;
<br />that they are free frost encumbranoe, except as herein otherwise recited; that the Mortgagor wilt warrant
<br />and defaW the same agiainst the lawful claim of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homIstead, all marital rights, tither in law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
<br />.•t< -
<br />PNOVIDISCII Atw" ATS. and these presents are executed and delivered upon the followimg conditions,
<br />to wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Ten per centum ( 10 ego) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be p+abable at the office of the Loan Guumuty Officer,
<br />Veterans Administration Regional OfIlce, Lincoln, Nebr*Akn, or at such other place as tb!' t.older of the
<br />note may designate in writing delivered or mailed to "'the Mortgagor, in monthly !�trtallments. of
<br />Four Hundred Six and 76/100 ----------- 4C6.76
<br />1)olla (S ), commenting on tom•.6r.st
<br />day of • June , 19 89 , and continuing on the first day of each: thereafter until ,aid
<br />s -
<br />note is fatly paid, except that, if not sooner paid, the final payment of principal be due and
<br />on the first day May 2019 'of,'*
<br />"`-
<br />payable of ; all according to the terti:s certain pro.
<br />missory note of even date herewith executed by the said Mortgagor.
<br />The HortIlagor further agrees:
<br />b
<br />1. He /she will pay the indebtedness, as herrcinbefore provided. Privilege is reserved to prepay at any
<br />tine, without premium or fed the entire tndeb cress or any part thereof not less than the amount of one
<br />installment, or one hundred dollars (100.00), whichoer, is less. Prepayment in full shall be credited on the
<br />date received. Partial prepayment, other than on an inst t}I.mw due date need not be credited until the dealt
<br />following installment due date or thirty days after such aymettt,, wfiichever is earlier.
<br />2. Together with, and in addition to, the monthly payments qf ptncipal and interest;payable under
<br />isle terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trus-tte the terms of
<br />_
<br />this trust as hereinafter stated) on the installment due dat» 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 doitt become due
<br />and payable on policies of fire and atlter hazard insurance .covering the mortogisd property,
<br />se
<br />plus taxes and assessments next dais tin the mortgaged property (all as estimatad by the Mort -
<br />6agee, and of which the ]Mortgagor ifs notified) teas all sums already paid therefor divided by
<br />the, number of months to elapse before one month prior to the date whep such ground rents,
<br />Firur3ivats, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />ig. oust to pay said ground rents, pintrniums, taxes and special assessments.
<br />(b) The aggregate of the amounts payablra. 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 />(t) ground rents, taxes, asseurnents, fire and other hazard insurance premiums;
<br />(11) interest an the note secured. hereby; and
<br />(tit) amortisation 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 Mortgagor prior to the due date 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 handlingdelinquent paymentsr but such
<br />"late
<br />-
<br />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 hereby.
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />exr" -d the 2tnaunt of psymfmts actually made by the Afottvagt.-.- as truxtrP far & :mitt fPnf4t, taxes apd
<br />assessments of insurance presiums.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, shalt be
<br />L
<br />refunded to Mortgagor. if. however. such monthly payments shall not be sufficient to pay such items
<br />when the some shall became due and payable. then the Mortgagor shall pay to the Mortgagee as trustee
<br />any attount t;ecevsary to make up the deficiency within thirty (30) days after written nolce from the
<br />Mangagee stating the atrcount of the defici-ency, which notice may be given by trail. If at anv time the
<br />r�
<br />Mort."got shalt tender to the Mortgagee, in accotUnce with the provistons of the note secured hereby.
<br />-
<br />full payment of the entire indebtedness reeptesented thereby. the Mortgagee as trustee shall, incomputing
<br />thr omount cf surb indebtedness, credit to the account of the Mortgagor any credit balitnce art umulated
<br />.°des «!:t' ptwnsinna of Ixa) -.f paragraph 6 heteof If thi a £siiooi tr a iseNult twtilrr tiny tri fhr print tstcnt�.
<br />�
<br />of this frollgagr resulting 44 a publrs. sale of the premises c oucceJ hereby. or sf the Ma. -Iga ,et- .0 qutres
<br />
|