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200302951
<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, either in her 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 Six
<br />percentum (6.000%) per annum on the unpaid balance until paid. The said principal cord interest shall be payable at die office of the
<br />Loan Guaranty Officer, Department of Veterans Affairs Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of Two Hundred Sixty-Three and
<br />80 /100 Dollars ($263.80), commencing on the first day of May, 2003; and continuing on the first day of each month thereafter until
<br />said note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first
<br />day of April, 2033; all 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/she will pay the indebtedness, as hereinbefore, provided. Privilege is reserved to prepay at any time, without premium or fee,
<br />the entire indebtedness or any pan unna f not less than die mnount of one installment, or one hundred dollars ($10(1.0(1), whichever is
<br />less. Prepayment in full shall be credited an the date received. Partial prepayment, other that on an installment due date, need not be
<br />credited until the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition lo, the monthly payments of principal and interest payable under the terns of the note secured
<br />hereby, Mortgagor will pay to Mortgagee, as trustee (under the terms of this trust as hereinufier 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 offre
<br />and other hazard insurance covering the mortgaged property, plus taxes 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 dam when such ground rents, premiums, taxes and assessments will
<br />become delinquent such sums to be held by Mortgagee in med 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 he
<br />paid in a single payment each month. to be applied to the following items in the order staled:
<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(II) interest on lire note secured hereby; and
<br />(III) amor it Aron of the principal of said note.
<br />Any deficiency in the mnount ofany 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 dmrge" 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 indebtcdncss and all proper costs and expenses secured hereby.
<br />3. If the total of the pay merits 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, vexes and assessments or insurance premiums, as the case may be, such
<br />excess shall be credited by the Mortgagcc 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 re trustee any amount neoessury to nuke 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 previsions of the note secured hereby.
<br />Fiji[ 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 offal of paragraph 2 hereof If
<br />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 the
<br />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, die mnount 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.'1'he lien of this instrument shall remain in full force and effect during any postponement or extension ofthe time payment ofthe
<br />indebtedness or any pan thereof secured hereby.
<br />5. He /she will pay all ground rents. taxes, assessments, water rates, and other governments] 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, together
<br />with any other taxes or assessments which may be levied under the laws of Nebraska against the Mortgagee, or the legal holder of said
<br />principal note, on account of this indebtedness, except when payment for all such items has theretofore been made under had of
<br />paragraph 2 hereof, and he/she will promptly deliver the official receipts therefor to the Mortgagee. In default thereof the Mortgagee
<br />may, pay the same.
<br />V
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