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<br />102149
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<br />To HAVE AND To !lOI.D the same unto the Mortgagee, lIS herein provided, Mortgagor represl'nts to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey Hid premises;
<br />that they are Cree Crom encumbrance, except as hereinotherwise recited j that the Mortgagor will warrant
<br />and deCend the same against the lawCul claims DC all persons whomsoever, Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
<br />PRoVIDED ALWAYS, and these presenta are executed and delivered upon the following conditions, to
<br />wit:
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<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesllid principal sum with interest from date
<br />at the rate of Nine Bnd One-Hal f per centum ( 9,5 %) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the olnce of The Equitable Building and Loan Ass 'no
<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 Two Hundred Fifty Six & 34/ ]00----
<br />Dollars ($ 256.34 ), commencing on the first day of May ,19 88, 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 ApI' i 1 2008 ; all
<br />according to the terms of a certairl promissol'y note oC even date herewith executed by the said Mortgagor,
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<br />The Mortgagor Curther agrees:
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<br />1. He/she will pay the indebtedness, as hereinbeCore 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 />inltallment, or one hundred dolllUll ($100,00), whichever is less, Prepayment in full shall be credited on the
<br />date received. Partial prepayment, other than on an inltallment due date, need not be credited until the
<br />ned following inltallment 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 terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this
<br />trust as hereinafter stated) on the 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 />and payable on policies of fire and other hazard insurance covering the mortgaged properly,
<br />plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort-
<br />g!lgee, 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 when such ground rents,
<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 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:
<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiull18;
<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
<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 an~' install ment 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 />ne88 secured hereby, unless such proceeds are sufficient to discharge the entire indebtedne88 and
<br />all proper costs and expenses secured thereby.
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<br />8. If 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 />asseasmenta or insurance premiull18, as the case may be, such excess shall be credited by the Mlirtgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br />shall be refunded to Mortgagor. If, however, such monthly paymenta shall not be 8ufficient to pay such
<br />items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br />truatee, any amount necessary to make up the deficiency within thirty (30) days after written notice from
<br />the Mortgagee atating the amount of the deficiency, which notice may be given by mail. If at any time
<br />the Mortgagor ahall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />in eomputing the amount of auch inrlebtednesa, 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 proviaiollll of this mortgage l"e8ulting in a public sa]e of the premises covered hereby, or if the
<br />Mortcagee acquires the properly otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br />time of the commencement of BUch proceedings, or at the time the properly is otherwise acquired, the
<br />amount then remaining to credit the Mortgagor under (<<) of paragraph 2 preceding, as a credit on the
<br />interest accrued IUId unpaid and the balance to the principal then remaining unpaid on said note,
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<br />4. The lien of thia instrument shall remain in full force and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or anv nart thereof secured hereby.
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<br />&. He/she will ~ .u ground reDia, taxes, _ents, water rates, and other governmental or
<br />m\lDlc:ip8l ebupa, fiDee, or impmitiona, levied upon IIIlid premises and that he/she will psy all taxes levii'd
<br />IIpOD tfda mortpp, or the debt, lICCured thereby, together with any other taxes or assessments which may
<br />be 189ied under the linn ofNebnalta spinst the Mortgagee, or the legal holder oC said principal nolA>, all
<br />8I:COUot of this indebtecln_, except when payment for aIIlUch items has theretofore been made under tal
<br />of puIIIrlIph 2 hereof, IIIId he/she will prompUy deliver the official receiplll therefor to thl' Mortaag"", III
<br />defau.lt &hereof the Mortpeel' may pay the same.
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