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� 9 107691
<br /> TO HAVE AND TO HOLD the same unto the Mortgagee,as herein provided. Mortgagor represents to, and covenants with,the
<br /> Mortgagee,that the Mortgagor has good right to sell and convey said premises;that they are free from encumbrance,except as herein
<br /> otherwise recited;that the Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever.Mortgagor
<br /> hereby relinquishes all rights of homestead, all marital rights, eit;�er in law or in equity, and all other contingent interests of the
<br /> Mortgagor in and to the above-described premises.
<br /> PROVIDED ALWAYS,and these presents are executed and delivered upon the following conditions,to wit:
<br /> Mortgagor agrees to pay to the Mortgagee,or order,the aforesaid principal sum with interest from date at the rate of
<br /> Seven and One-Fourth percentum(7Z50%)per annum on the unpaid balance until paid.The said principal and interest shall be
<br /> payable at the office of the Loan Guaranty Officer,Department of Veterans Affairs Regional Office,Lincoln,Nebraska,or at such
<br /> other place as the holder of the note may designate in writing delivered or mailed to the Mortgagor,in monthly installments of Three
<br /> Hundred Eighty-One and 19/100 Dollars($381.19),commencing on the first day of September, 1999;and continuing on the first
<br /> day of each month thereafter until said note is fully paid,except that,if not sooner paid,the final payment of principal and interest
<br /> shall be due and payable on the first day of August,2029;all according to the terms of a certain promissory note of even date herewith
<br /> executed by the said Mortgagor.
<br /> The Mortgagor further agrees:
<br /> 1. He/she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or
<br /> fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars ($]00.00),
<br /> whichever is less. Prepayment in full shall be credited on the date received.Partial prepayment,other than on an instaliment due date,
<br /> need not be credited until 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 and interest payable under the terms of the note secured
<br /> hereby,Mortgagor will pay to Mortgagee, as trustee(under the terms of this trust as hereinafter stated)on the installment due date of
<br /> 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 and payable on policies of fire
<br /> and other hazard insurance covering the mortgaged property,plus taaces and assessments next due on the mortgaged property
<br /> (all as estimated by the Mortgagee,and of which the Mortgagor is notified)less all sums already paid therefor divided by the
<br /> number of months to elapse before one month prior to the date when such ground rents,premiums,taxes and assessments will
<br /> become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, taxes and special
<br /> assessments.
<br /> (b)The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, shall be
<br /> paid in a single payment each month.to be applied to the following items in the order stated:
<br /> (I)ground rents,taxes,assessments,fire and other hazard insurance premiums;
<br /> (II)interest on the note secured hereby;and
<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 by the Mortgagor prior to the due
<br /> date of the next such payment,constitute an event of default under this mortgage.At Mortgagee's option,Mortgagor will pay a
<br /> "late charge" not exceeding four percentum (4%) of any installment when paid more than fifteen (15) days after the due date
<br /> thereof to cover the extra expense involved in handling delinquent payments,but such"late charge" shall not be payable out of
<br /> the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the
<br /> entire indebtedness and 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 exceed the amount of payments
<br /> actually made by the Mortgagee as trustee for ground rents, taxes and assessments or insurance premiums, as the case may be, such
<br /> excess shall be credited by the Mortgagee on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's
<br /> option, shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such items when the same
<br /> shall become due and payable, then the Mortgagor shall pay to the Mortgagee as trustee any amount necessary to make up the
<br /> deficiency within thirty(30)days after written notice from the Mortgagee stating the amount of the deficiency, which notice may be
<br /> given by mail.If at any time the Mortgagor shall tender to the Mortgagee,in accordance with the provisions of the note secured hereby,
<br /> full payment of the entire indebtedness represented thereby, the Mortgagee as trustee shall, in computing the amount of such
<br /> indebtedness,credit to the account of the Mortgagor any credit balance accumulated under the provisions of(a)of paragraph 2 hereof.
<br /> If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if
<br /> the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such
<br /> proceedings,or at the time the property is otherwise acquired,the amount then remaining to credit of Mortgagor under(a)of paragraph
<br /> 2 preceding,as a credit on the interest accrued and unpaid and the balance to the principal the remaining unpaid on said note.
<br /> 4.The lien of this instrument shall remain in full force and effect during any postponement or extension of the time payment of
<br /> the indebtedness or any part thereof secured hereby.
<br /> 5. He/she will pay all ground rents, taxes, assessments, water rates, and other governmental or municipal charges, fines, or
<br /> impositions, levied upon said premises and that he/she will pay all taxes levied upon this mortgage, or the debt secured thereby,
<br /> together with any other talces or assessments which may be levied under the laws of Nebraska against the Mortgagee, or the legal
<br /> holder of said principal note,on account of this indebtedness,except w hen payment for all such items has theretofore been made under
<br /> (a) of paragraph 2 hereof, and he/she will promptiy deliver the official receipts therefor to the Mortgagee. In default thereof the
<br /> Mortgagee may pay the same.
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