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<br />88- 1035(11
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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, 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 ofhoIn:e'stead, all marital rights, either in law or in equity, and all other contingent interests of
<br />the Mortgagorin'ind to the above~describedpremises... . . . .
<br />'. PRoVW'EnAL\VAys/luld these presents are executed and delivered upon the following cOnditionB,to
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<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Ten per centum (10.0%) per annum on the unpaid balance until paid.
<br />The said principal and inte~st shall be payable at the office of The Equitable Building and Loan Association
<br />in Gr and Is 1 and, Neb r as ka , 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 Three Hundred Eighty Nine & 64/100 .
<br />Dollars ($ 389.64 ), commencing on the first day of August ,1988 ,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 July, 2018 ; all
<br />according to the terms of a certain promissory 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, 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
<br />next 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 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:
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<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 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 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 fonow-
<br />ing items in the order stated:
<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(n) 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 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 costs and expenses secured thereby.
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<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 pn!Ceding shall
<br />exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br />assessments or insurance premiums, as the ease may be, such excess shall be credited by the )(ortcagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, 88 trustee,
<br />shall be refunded to Mortcagor. If, however, such monthly payments shall not be sufficient to pay such
<br />items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, 88
<br />trustee, any amount necessary to make up the deficiency within thirty (30) days after written notice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br />the MortplOr shall 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, 88 trustee, shall,
<br />in computing the amount of such indebtedneea, 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 provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />lIort:ppe aequirea the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br />time of tile COIIlIIIeDCeIDet of such proceedinlll, or at the time the property is otherwise acquired, the
<br />~t then remainiDl to creclit the Mortpcor under (IZ) of paragraph 2 preceding, as a c.rediton the
<br />intet.t _rued and unpaid and the balance to the principal then remaining unpaid on said note.
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<br />4. The lien of this instrument shall remain in full force and effect during any poatponement or exten-
<br />sion of the time of payment of the indebtedneSB or an v Dart thereof secured hereby.
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<br />6. He/lbe will pay all ground renta, taxee, 8IItlIIIDlenta, water rates, and other governmental or
<br />m~ cb_, lines. or impOlitiODl, levied upon lI8id premilel and that be/she will pay all taxes levied
<br />upoa ChiI mortpp. or the debt, secured thereby. together with any other taxea or asseamenta wbicb may
<br />be ltPried UDder the laws 01 Nebruk. apinlt the Mortcagee, or the legal bolder of said principal note, on
<br />1CC000nt of thillndebteclnllll, except when payment tor all such items hu theretofore been ~e,under,(a)
<br />of pal'aII'8Ph 2 hereof, and he/she will prompUy deliver the official receipts therefor to the MortPlJee. In
<br />default thereof the Mort.pflltl may pay the ume,
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