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<br />To HAVE AND TO HOLD the same unto the Mortgagee, as herein provided. !~;gorte~~e~H~ and
<br />covenants with,the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they
<br />are free fron. encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant and defend the
<br />same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes all rights of homestead,
<br />all marital rights, either in law 'or in equity, and all other contingent interests of the Mortgagor in and to the
<br />above-described premises,
<br />, : PkuVtDED AL WAYS, and these presents are executed and delivered upon the following conditions, to
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<br />, Mortgagor agrees to pay'tathe Mortgagee: or order, the aforesllii:i principal sum with interest from date
<br />at the rate of Ten IIlII ilnI half per centum ( 10. 50 OJo)
<br />~r annum on th=~d balance until paid. The said principal and interest shall be payable at the office of
<br />ISmR.. IGl11lAIiE . 1114 ,
<br />in 1fI'. I1BEIIl. lIJoollll , 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
<br />Fiw HuIldrlId Forty-SMn IN! 931100ths
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<br />DoDars ($ 547,93 ), commencing on the first day of August, 19 88 ,
<br />and continuing on the first day of each month thereafter until said note is fuDy paid, except that, if not sooner
<br />paid, the final payment of principal and interest shall be due and payable on the first day of
<br />July, 2018 ; all according to the terms of a certain promissory note of even
<br />date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
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<br />I. He/she wiD pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time,
<br />without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment,
<br />or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited on the date rec:eived.
<br />Partial prepayment, other than on an installment due date, need not be credited until the next foDowing install-
<br />ment 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 the terms
<br />of the note secured hereby, Mortgasor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter
<br />stated) on the first day of each month until said note is fully paid:
<br />(a) A sum equal to the ground renlS, if any, next due, plus the premiums that will next become due and
<br />payable on policies of fire and other hazard insurance covering the mortgaged property. plus taxes
<br />and assessments next due on the mortgaged property (all as estimated by the Mortgagee, and of which
<br />the Mortgagor is notified) less all sums already paid therefor divided by the number of months to
<br />elapse before one month prior to the date when such ground rents, premiums, taxes and assessments
<br />wiD become cIe1inquent, such sums to be held by Mortgagee in trust to pay said ground renlS, premiums.
<br />taxes and spedal assessmenlS,
<br />(b) The aureaate of the amounlS payable pursuant to subparagraph (a) and those payable on the note
<br />secured hereby, shall be paid in a single payment each month, to be applied to the following items
<br />in the order stated:
<br />
<br />III around 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 by
<br />the Mortgqor prior to the due date of the next such payment, constitute an event of default under
<br />this mortgqe. At Mort8ll8ee's option. Mortgagor will pay a "late charge" not exceeding four per
<br />centum (4....) of any installment when paid more than fifteen (15) days after the due date thereof to
<br />cover the extra expense involved in handling delinquent payments, but such "late charge" shall not
<br />be payable out of the proceeds of any sale made to satisfy the indeblednes5 secured hereby, unless
<br />such proceeds are sufficienl to discharge the entire indebtedness and all proper casls and expenses
<br />secured thereby.
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<br />3. If the total of the paymenlS made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
<br />amount of payments actuaDy made by the Mortpgee, as lrustee, for around rents, taxes and assessmenls or
<br />insurance premiums, as the case may be, such excess shall be credited by the Mortgagee on subsequent paymenlS
<br />to be made by the Mortsa&or for such items or, at Mortpgee's option, as trustee, shall be refunded to Mort-
<br />gagor. If, however, such mombly paymenls shall not be surficient to pay such items when the same shall become
<br />due and payable, then the Mortgagor shall pay to the Mortpgee, as trustee, any amount necessary to make up
<br />the deficiency within thirty (30) days after written notice from the Mortgagee stating the amount of the deficien-
<br />cy, which notice may be given by mail. If at any time the Mortgagor shall tender to the Mortsa&ee, in accordance
<br />with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the
<br />Mortaaaee, as trustee, shall, in compudng the amounl of such indebtedness, credilto the accouDl of the Mon-
<br />181Ol' any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. I f there shall be a default
<br />under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Mortpaee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the time of
<br />the commencement of such proceedings or at the time the property is otherwise acquired, the amount then re-
<br />mainina to ~it tbe Monpgor under (a) of parqraph 2 preceding, as a credil on the interest accrued and un-
<br />paid and the balance te. the principal then remaining unpaid on said note.
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<br />4. The lien of this lnslrument shall remain in full force and effect during any postponement or eXlension
<br />or the time of payment of the indebtedness or any pari thereof secured hereby.
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<br />S. He/she will pay all ground renls, laxes, assessmenls, water rates, and olher governmental or municipal
<br />charJCS. fines. or impositions, levied upon said premises and that he/~he will pay alllaxes levied upon Ihis morl-
<br />gale, or the debt secured thereby, 10lether with any other tallCll or assessments which l11a~' be' levied under the
<br />laws of Nebraska apinS! the Mortlagee, or Ihe legal holder of said principal note, on accoulII of this indebledness,
<br />eJlcrpt when paymeDl for all such ilcms has theretofore been made under (a) of paragraph 2 hereof, IInd he/she
<br />wiJI promptly lkUver the official receipu therefor 10 the Mortgagee, In defauh lhereof the MOII!lllllee !1.llI~' I'II~'
<br />the ..me.
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