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<br />88- 103007
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<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided, Mortgagor represents to,
<br />and covenants with, the Mortgagee, Ulat the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as herein otherwise recited j that the MorlgagorwiJrwarrant
<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 equity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
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<br />PRoVIDED Ar.wAYs, and thee;e presents are executed and delivered upon the following conditions,
<br />to wit:
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<br />Mortgagor agrees to ~ay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of en per centum ( 10 %) 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
<br />One Hundred Seventy-Two and 22/100D II ($ 172 22) . h f'
<br />oars . , commencmg on t e Irst
<br />day of Ju 1 Y , 1988 , 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 June , 2013 ; all according to the terms of a certain pro-
<br />missory note of even date herewith executcd 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 heteinaftei 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 an~', 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 whell such ground rents,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay ~d ground rents, premiums, taxes and special assessments.
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<br />(b) "fhe 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 />(Ill) 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 Mo~agor 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 secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper coats and expenees secured hereby.
<br />3, 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 />assessments orinsurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br />on subsequent payments to be made by the Mongagor for such items or, at Mortgagee's option, shall be
<br />rehmded to Mortgagor, H, however, such monthly payments shall not be sufficient to pa)' such items
<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 tbirty (30) days after written notice from the
<br />Mortgagee Slating the amount of the deficiency, which notice may be ~jven by mail. If at [Jny time the
<br />Mongagor shall tender to the Morlgll gee , in accordance With the proVISions of the note secured hereby,
<br />lull payment of the entire indebtedness represented thereby, the Mortgagee as trusH"t' shall, ID computing,
<br />!h.~ amount 01 surh IOdebtedneoss, cwdit to the Becounl of the Mortgagor lIny rredit balance lIrrllmulatt'11
<br />urHI~r I,h(' provl!lIons of (8) of paragmph 2 hNeof If there shall be a default undel any 01 the pro\'1 !'I 011 S
<br />01 th I~ mOlI~llge resulting 1Il 0 publk sale of thl' premises covt>red hert'by, ()f II Ihe MOrlgll~I'1' acq\lllt.~
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