|
1
<br />g4.. --- 105591
<br />To HAvic Amo To llot.n the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee", that the Mortgagor has getod right to sell and convey said premises;
<br />that they are frep from encumbrance, except as hereinotherwine reviled; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever, Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in s- guity, and all other contingent interests of
<br />the Mortgagor in and to the above - dear -ribed premises.
<br />MviDw AWAYS, and these presents are executed and delivered upon the following conditions, to
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal swum with interest from date
<br />at the rate of Ten per centum ( 10 fir) per annum on the ung}►aid balance until paid.
<br />The said principal and interest shall be payable at the office of The Equitable Building and Loan Association
<br />In Grand Island, Nebraska . or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the Mortgagor. in monthly installments of Three Hundred Twenty Four 9 27/100
<br />Dollars (1} 324.27 ). commencing on the Brat day of NOVEMBER . 19 90 . 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 payable on the first day of OCTOBER. 2020 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor,
<br />The Mortgagor further agrt*u
<br />1. He /she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />tine, without premiuto or fee, the entire indebtedness or any part thereof not leas than the amount of one
<br />installment, or one hundred dollars ($100.00).whichever is less. Prepayment in full shun be credited on the
<br />date received. Partial prepayment, other than on an installment due date, need not be credited until the
<br />next following installment due date or thirty days after such prepayment, whichever b earlier.
<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the terns of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, ( under the terms of this
<br />trust as hereinafter stated) ou tho 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 />;
<br />and payable• on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes .rid assessments next 41te on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by
<br />the numist-r of months to elapse before one month prior to the date when such ground rents.
<br />1=
<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 the amounts pay,•.a'ale pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall hr paid in a single payment each month, to be applied to the follow-
<br />ing items in the order s';a':ed
<br />(1) ground rents, tastes, as i.witments. fire and other hazard insurance premiums;
<br />- --
<br />(11) *t•Nrt•st on the note sec u- - -i hereby; and
<br />(Ito) amortization ,of the pri.arapal of said note.
<br />'Ay deficiency in theam. ouont of :any such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the rave date of tint, next such payment, constitute an event of default
<br />under this mortgagee. At 1Vfoortgagee's option, Mortgagor will pay it "late ebarge" not exceed.
<br />ing four per centum 14 :':) (of ,:say install mient when paid more than fifteen t/ 13) days after the
<br />due date thereof to cor,w theextra expenseinvolved in hanndlintgt ''1.e!linquentpaymentau,W4such
<br />"late charge" shall not- Lw payable out of the proceeds of any sate nade to satisfy the indebted-
<br />ness secured hereby, unless xuch ga•ocswls are sutficient todischarge the entire indebtedness and
<br />all proper costs and expenses secured thereby.
<br />3. It 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 />atsis:Sliuwiata or wbura ce paretniurns, as the case may be. such excess assail be credited by the Mortgagee
<br />on subsequent payments to be made by the 11fortgagor for such arms or, at MortgagiWo option. as trustee,
<br />shall be refunded to Mortgagor. If, however. such monthly payments shall not be sufficient to pay such
<br />items wherr the same shall become due and payable. then the Mortgagor s -W.1 pay to the Mortgagee. as
<br />trustee. any amount n(reasary to make up the deficiency within thirty I30) days after written notice from
<br />hire 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, toil payment of the entire indebtedness represented thereby, 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 touch 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 unpatid and the balance to the principal then remaining unpaid on said note.
<br />4. The lien of this instrument ,hall rernata to full force and effect during any postponement or exten.
<br />'sjt
<br />lion of the time of tuevment t►f the indabt►rtneue or any hart thereof secured hereby.
<br />6. He /she will pay all ground trnts, taxes, assessments, water rates, and other governmental or
<br />-
<br />muntcq►al chargrs. fines, or impositions. leviwf upon mud premises and that he /she will pay all taxes levied
<br />tip
<br />upon this mortgage, or the dehe wcuwd thervhy, together with any (other taxes or sweasments which may
<br />tD
<br />I*- levied under the laws of Nebraska agiu►eit the Mortgagee, or the• legal holder of said pnncipal note, on
<br />a•couot of this tndebu4ti u, voivept whets payineot f►►r all such items has theretofore been made under (a)
<br />of paragraph 2 hen•tif, and he,dhe will promptly deliver the official reretpts therefor to the Mortgagee. In
<br />default thereof the Mortgagee may pay the alone
<br />
|