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<br />88~ 103031-
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<br />To HAVE AND To HOLD the same unto thl! Mortgagee, as herein provided, Mortgagor represr /Ita to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey saiclpremiaes;
<br />that they are free from encumbrance, except as herein otherwise recited; that the Morlgagorwill warrant
<br />and defend the same aw.hut the lawful claims of all persons whomsoever, Mortgagor hereby relinquiBnes
<br />all rights of home.tead, alI marital rights, either in law or in equity, and all other contingent interesta of
<br />the )(ortgapr 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 Te n per centum ( 10 'Ie) per annum on the unpaid balance
<br />until paid. The laid principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans AdminiBtration Regional Office, Lincoln. Nebraska. or at such other place as the holder of the
<br />note may dealpate in writiDIr delivered or mailed to the Mortgagor, in monthh' installments of
<br />Two Hundroed Nine and 56/100------ Dollars ($ 209.56 ), commencing on the first
<br />da)' of Ju 1 Y . 19 88 , and conunumg on the first day of each month thereafter until said
<br />note is fully paid, except that, If not sooner paid, the final pa)'mem of principal and interesr shall be due and
<br />payable on the first day of June . 2003 ; all according ro the terms of a cenain pro-
<br />missory note of even date herewith executed by the saId Mongagor.
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<br />The Morlgawor further aerees:
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<br />I. He/she win pay the indebtedness. as hereinbefore provided; Privilege is reserved to prepay at any
<br />time, without premium or fee, tbe entire indebtedness or any part thereof not less than the amount of one
<br />instaUmcm, or one hundred doOars 000.00), whichever is less. Prepayment in fun shall be credited on the
<br />date received. Partial prepayment, other than on an installment due date, need not be credited until the aext
<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 Morlgagee, as trustee (under the tenns of
<br />this trust as hereinafter stated) on the installment due dalf:' of each monlh until said note is fully paid:
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<br />(a) A sum equal to the ground rents, if any. next due, plua the premiums that will next become due
<br />and payable on policies of tire and other haz..ard insurance covering the mortgaged property,
<br />plus taxes and Il5SeMments next due on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) Jess all sums already paid theref.Jr dh'ided by
<br />the number of months to elapse before one month prior to the date whet} such ground rents,
<br />premiums. taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />In trust to pay 8!lid ground rents, premiums, taxes and special assessments.
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<br />(b) The aggregate of the &mounts 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 hllUlrd insurance premiums:
<br />(n) interest on the note secured hereby; and
<br />(111) &morth:ation of the principal of Mid note.
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<br />Any dellcienc)' in the amount of any such aggregate monthly pa)'ment shall, unless made good
<br />oy the Mortcal'Or 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 exc~!t'd.
<br />ing lour per centum (4 ~ ) of any installment w hen paid more than fifteen (15) days after the
<br />due dAte thereof to cover the extra expense involved in handling delinquent payments, bulsuch
<br />"late charce" shall not be p&)'able out of the proceeds of an}' sale made to satisfy the indl.'bted-
<br />ness secured he~)I, unless such proceet!s are sufficient to diJ;Chargl.' the entire indebtedness and
<br />...11 proJl('T coata and expelUleB secured hereb)'o
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<br />3. If the total of the ~yments made by the Mortgagor under (a) of paragraph 2 preceding sb:J1I
<br />elc'.'ed the :bmount of p'yml!flts actually made by the Mortgagee as trustt'e for gtound rents, taxes and
<br />assessments or insurance premiums, as the case may be. such excess shall be credited by the Mortgagee
<br />on subsequent paymmls 10 be made by the MOttgagor for such items or, at Mortgagee's oplion, llhlill be
<br />refunded to Mortgagor. If. however, such monlhly payments shall nol be sufficient to pay such itl.'ms
<br />"hm the same shall become due end payable. then the Mortgagor shall pay to the ~ortgagl.'e as lruslee
<br />any amount nect'ssary to make up the defidency within thirty (30) days after writt~ri notice from tht'
<br />Mortgaget. stating the amount of the deficiency, which notice may be ~iven by mail. If at an" lime thl~
<br />Mortgagor shall It'ilder I., the Mortgagee. in accordance wi Ih the proviSIOns of 11J1' nole SI'l'UIt'd h<'reby.
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<br />full paymenl f)f Iht' entire indebtedn('ss represented tllereby, the Mortgagf'e as Iruslt'(' shall, In l'ompuhng,
<br />th" ,amount of ~u('h indebtE'dnl'ss, nedil 10 thl' al'count of the Morlgagor any nt'dit blllann' /I('l'umulah,,1
<br />tlfHJN tht' plQVlaiom. of (a) of parograph 2 hf'lt"of If there sh811 be a ddaulI undl'1 an,' of Ihl' pro\'1 smns
<br />ot Iha morly,age n'llulling in II public sole of till' premise!! l'OVNI'd ht'r('by Of If the MOrlRllRt'I' acqult!'s
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