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<br />88- 103844
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<br />To HAVE AND To HOLD the aameuntotbe Mortgagee, as herein provided. Mortgagor represents to,
<br />andeovenantlwith, thellf~, that the Mortgagor has good right to sell and convey lIaidpremilles;
<br />tbat theyarefJ't!e from encumbrance, except all herein otherwise recited ; that the Mortgagor will warrant
<br />anddefendtheaame againatthe lawfulclaima of all persons whomsoever.' Mortgagor herebyreUnquishes
<br />all right.l of homeatead,' an marital rights, either in law or in equity, and aU other contingent irittlreataof
<br />the )fortpaor in and to the above-described premises.
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<br />PaoVlDBD ALWAYS, and these presents are executed and delivered upon the following conditiona,
<br />to wit:
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<br />)fortplOr q!'ftl to pay to the Mortgagee, or order, the aforellaid principal sum with interest from
<br />date at the rate of T 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 Oftk:er,
<br />Veterana Admini.tration Resional OfIice, Lincoln, Nebraska, or at sur.h other place as the holder of the
<br />bote may deailfDAte in writina- delivered or mailed to the Mortgagor, in monthly installmenta of
<br />One Hundred Ninety-Seven and 58/100------Dollars (S197 .58 ), commencing on the first
<br />day of August , 19 88 , and continuing on the first day of each month thereafter until said
<br />note is fuUy 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 July ,1998 ; all according to the terms of a cenain pro-
<br />missory note of even date herewirh executed by the said Mortgagor.
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<br />The Mortpaor further qreel :
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<br />I. 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 PlID thereof not Jess than the amount of one
<br />installment, or one hundred dollars 000.00), whichever is less. PrqJayment in full shall be credited on tbe
<br />date received. Panial Prepayment, other than on an installment due date, need not be credited until the next
<br />followinl installment due date or thiny 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 10 Mortgagee, as trustee (under the terms of
<br />this lrust as hereinaftet stated) OIl the inslallment due date of each month until said note is fully paid;
<br />(a) A lum equal to the jp'OUnd rents. if any, next due, plua the premiums that will next become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plul taxes and auellments next due on the mortgagl'd property (all as eatimated by the Mort-
<br />PICt'. and of which the Mortgagor is notifled) lesl! all sums already paid therefor divided b~'
<br />tJ1e number of montha to elapse before one month prtor tn the date whell such KTound renla.
<br />premiuma. taxes and auessmenls will become delinquent, luch Bums to be held by Mortgagee
<br />In tru.t to pay ~id lP'Ound rents. premiums. taxes and special assellllrrlenta.
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<br />(b) The aarepte of tJ1e amoun.. payable punuant to .ubparagraph (a) and those payable on the
<br />note 8eCUred hereby, IlhaJl be paid in a single payment each month, to be applied to the follow.
<br />ine item. in the order ltated :
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<br />(0 ground renla, taxes, aueaaments, fire and olher hazard insurance premiums;
<br />(II) intereat on the note aecured hereby; and
<br />(Ill) amortization of the princ.pal of said note,
<br />Any defieiency in the amount of any luch aeeregate monthly payment shall, unle.. made IEOod
<br />by the Mort.ralO' prior to the due date of the next such payment, eonsU tute an event of default
<br />under thia rnortpp. At Morteagee'. option, Mortgagor will pay a "late charge" not exceed.
<br />ine four per centum (4%) 01 any Installment when paid more than "fteen (15) days after the
<br />due date tJ1ereot tD cover the extra expense involved tn handling delinquent payments, butauch
<br />"'ate eha,.." shall not be payable out of the pl'O<'eedll of any Mle made to Mtiafy the indebted-
<br />nC!llloeeured hereby, unlell.uch proceeds are sufficient to discharge the entire indebtedneu and
<br />all proper COlIta and expenaea aec:ured hereby.
<br />J. H the lotal of the peymeotl IlI8de by the Mortgagor undf'r (a) of peragraph 2 preceding Ihall
<br />exceed the .mount of pl)'menll actually made by the Mortgagee al trulltt'e for ground rents, taxes and
<br />allel.mentl orin.tuance premium., all the cale may be, luch excess shal1lw. credited by the Mortgagee
<br />on nbsequent p4tymeals to be made by the Mort&agor for such Hems or, ot MortKagee'lI option, lIhan be
<br />refunded to Mortpgor. If, however, lUeh monlhly payments shall nol be sufficient 10 pay SUI"h Items
<br />when the .ame .han become due and payable, Ihen thl' Morlaagor shall pay to the MortgaKI't' as trulltre
<br />8ft)' amounl necellary to make up the deficiency within tflirty (30) days after wrWen notke from thl'
<br />Morta_let! tllaUnR the amount of lhl" deficient'Yo which notice may be ~iven by mail. If al any time ltw
<br />Mott.IO' llhall tP.flder 10 Iht' MortgllKl"C!. In accordance with the provitllons of the nOh' secured hereby.
<br />rull payment oHhi! enUrl' indt'btl'dnl~U lepre.l'nled Iht'reby. Ihl' Morlgagee all tru~lef' shall. in l"omputinR,
<br />th~ .a moun I ot llil'h ,ndl'btl:'dnPlIl'lo l'rt'dil to tht' MccOunt 01 the MorlRA~or IIny l'fr.dil balann' HC'C'um\llah'd
<br />undel Itll'~ JlrovillOnI of (.) of parar;llIph 2 hl'~or If thprr IIhllll bl! II drr.ullulldl'llIny (Ir Ihl' II tIl\'l II HIll !I
<br />IJf Ihi.. IIlortplt' lellllUnl in " publh: ule 01 Ihp prt!lIllllt'1I ("Il\Oprrd hNt'by, or if lhl' Morlgllltl'(' 1U'(lllltf'!I
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