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<br />88-101270
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<br />'}'o HA\'E AND To HOLD the same unto thE! Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with. the Mortgagee, that the Mortga gor has good right to sell and convey said premises;
<br />that they are free from encumbrance. except as herein otherwise recited; 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 homest.ead, all marit.al rights, either in law o!' in equity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
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<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit:
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<br />Mortgagor agrees to pay to the Mortgagee, or order. the aforesaid principal sum with interest from
<br />date at the rate of Nine and one half per centum (9! 'Yo) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration 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
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<br />Two Hundred Seventy and 76/100---------- Dollars ($ 270.76 ), commencing on the first
<br />day of May , 19 88 , and continuing on the first day of each month thereafter until said
<br />note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and
<br />payable on the first day of April ,2018 ; all according to the terms of a certain pro-
<br />missory note of even date herewith executed by the said Mortgagor.
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<br />The Mortgagor further agrees:
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<br />1. He/she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br />installment, or one hundred dollars (100.00), whichever is less. Prepayment in full shall be credited on the
<br />date received. Partial prepayment, other than on an installment due date, need not be credited until the next
<br />following installment due date or thirty days after such prepayment, whichever is earlier.
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<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the tenns of the note secured hereby. Mortgagor will pay to Mortgagee, as trustee (under the terms of
<br />this trust as hereinafter stated) on the installment due date 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 />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due 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 number of months to elapse before one month prior to the date whep such ground rents.
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay s~id ground rents, premiums. taxes and special assessments.
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<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:
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<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.
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<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 handling 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 secnred hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured hereby.
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<br />when the same shall become due and payable. then the Mortgagor shall pay to the Mortgagee as trustee
<br />any amount necessary to make up the deficiency within thirty (30) days after written notice from the
<br />Mortgagee staling the amount of the deficiency, which notice may be given by mail. Ifilt ~vtime the
<br />Mortgagor shall tender to the Mortgagee, in accordance wi th the provisions of the note secufed"f1ereby,
<br />full payment of the entire indebtedness represented thereby, the Mortgagee as trustee shall, in computing;
<br />the ,amount of such indebtedness, credit to the account of the Mortgagor any credit balance accumulated
<br />under the provisions of (a) of paragraph 2 hereof. if there shall be a d€'fault under any of the provisions
<br />of this mortgage resulting in a public sale of the premises covered hereby. or if the Mortgag€'t' acquirt.s
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