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<br />. 81t- 10339S
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<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. irortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />aU rights of home stead, aU 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 ^1.WA~S, atldthese present~'are executed and delivered upon the foUowing conditions, to
<br />Wit: .,.~.
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<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />a+. the rate of Nine and One-Half per centum ( 9.5%) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of The Equitable Building and Loan Association,
<br />in Grand Island, Nebraska , or at such other place as the holder of the note may designate in
<br />writing deJivel'ed or mailed to the Mortgagor, in monthly installments of Four HumJred Seventy Five & 5 1/100
<br />Dollars ($ 475.51 ), commencing on the first day of July ,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 June I, 2018 ; all
<br />according to the terms of a certain promissol'Y 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, 811 hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtedness or any part thereof not lCIII than the amount of one
<br />installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited OD the
<br />date received. Partial prepayment, other than on an insbillment due date, need not be credited until the
<br />next followinll installment due date or thirty days after such prepayment, whichever is earlier.
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<br />2. Torether with, and in addition to, the monthly payments of principal and interest payable under
<br />the terms of the note IIl'Cured hereby, Mortgagor will pay to Mortgagee, 1UI trustee, (under the terms of this
<br />trust aa hereinafter stated) on the first day of each month until said note is fully paid:
<br />(II) A sum eqnal to the ground rents, if any, next due, plus the premiums that will next become due
<br />And payabll! on policies of fire and other hazard insurance eovering the mortgaged property,
<br />plu8 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 elapsl' befol'e one month prior to the date when such ground rents.
<br />premiums, taxes and assessments will become delinquent, such sums to be held by lIortpaee
<br />in trust to pay said ground rents, I)remiums, taxes and special aaaessment8.
<br />(b) The aggregate of the amounts payable pursuant to SUbparagraph (4) and thoee 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, assessmenUt. fire and other hazard insurance premiuDla;
<br />(n) interest on the note secured hereby; and
<br />(III) amol.tization of the principal of said note.
<br />Any deficiency ill the amount of any such aggregate monthly payment shall. unleu made lOUd
<br />by the Mot'tgagol' prior to the due date of the next such payment, constitute an eYeDt of default
<br />under th is mortgage. At Mortgllgee's option, Mortgagor will pay a "late charp" not exc:eed-
<br />ing four per centum (4%) of any installment when paid more than fifteen (15) daysaftBthe
<br />due date thel'cof to covet. the extra expense involved in handling delinquent payments, buhuch
<br />"late chat'ge" shall not be payable out of the pl"Oceeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such pt'oceeds are sufficient to discharge the entire indebtedneu and
<br />all proper coats and expenses secured thereby.
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<br />8. If the total of the payments made by the Mortcagor under (II) of paragraph 2 precedilll' ahall
<br />exceed the amount of payments actually made by the Mortgagee, 88 trustee, for ground rents, taxes and
<br />asaeaaments or insurance premiums, as the case may be, such exceu shall be credited by the I(o~
<br />on 8ublequent payments to be made by the Mortgagor for such itema or, at Mortgagee's option, aa tnJstee,
<br />shall be refunded to Morteagor, If, however, such monthly payment,t shall not be sufficient to pay such
<br />ItAmuI when the same shall become due and payable, then the Mon:.aaaor shall pay to the Mortgagee, as
<br />trustee, ally amount necessary to make up the deficiency within thirty (30) days after written notice from
<br />the Mortppc stating the amount of the deficiency, which notice may be given by mail, If at any time
<br />the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtednesa represented thereby, the Mortgagee, as trustee, shan,
<br />in computing the amount of such indebtednesa, 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 provioiona of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Mortppe acqulru the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br />amount then. remaining to credit the Mortpgor under (4) of paragraph 2 preceding, as a credit on the
<br />lntereat aecrued and unpaid and the balance to the principal then remaining unpaid on said note,
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<br />4. The lien ot thisllJstrument 8hall remain in full foree and effect during any postponement or exten-
<br />sion of the time ot payment of the indebtedness or anv nart thereof seeut'ed hereby,
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<br />6. He/lbe will pay all ground rentAl, tax", llil8llmenta, water mtes, and other governmental or
<br />municipal ch...., nnel, or impOliUoll8, levied upon Aid premises and that he/she wllll)&Y all wellevied
<br />upon t.hJJ mortpge, or the debt. Sl'CUred thereby, topther with any other Well or IIIS4!11luentl,wbich may
<br />be levied under the ta.s of Nebruka against the MortgBllCe, or the lellal holder of said prlncipal 'note, on
<br />w::count of thla indebtednfJII, except when payment for all 8uch items ha theretofore ooen made under (a)
<br />of paragraph 2 bel'P.Ot, and he/ahe will promptly deliver Ute oCliclal rLlCelpfil therefor to the Mort{(aaee. In
<br />default thereof the Mort<<ape may pay the 8/li1D6,
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