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<br />88- 104110
<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to, and
<br />covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they
<br />are free from encumbrance, except as hereillotherwise 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 />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
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<br />.J wit:
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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 and one hilf per centum (10,50 070)
<br />Pf:biHiuMlAw&Maiat1lialance until paid. The said principal and interest shall be payable at the office of
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<br />in MT, l1BENS, IlIDlJIiAH ' . or at such other place as the holder of the note may designate in
<br />writinll. dclivc:red or lJlailed to the _ Mortgagor, in monthly installments of
<br />1'0411' 1IUNIred liIWnty-flYl! illII lXi/lroths
<br />
<br />Dollars ($ 475,1Xi ), commencing on the first day of Sept...,., 19 88 ,
<br />llnd continuing on the first day of each month thereafter until said note is fully 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 />August, 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:
<br />
<br />I. He/she will 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 received.
<br />Partial prepayment, other than on an installment due date, need not be credited until the next following 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 />oflhe note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under lhe 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 rents, 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 />will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums,
<br />taxes and special assessments.
<br />(b) The aggregate of the amounts 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 />(1) ground 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.
<br />
<br />Any d~ficiency in the amount of any such aggregate monthly payment shall, unless made good by
<br />the Mortgagor prior to the due date of the next such payment, constitute an event of d=:fault undrr
<br />this mortgage. At Mortglliee's option, Mortgagor will pay a "late charge" not exceeding four per
<br />centum (4"') of any installment when paid more than fifteen (IS) 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 indebtedness secured hereby, unless
<br />such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses
<br />secured thereby.
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<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
<br />amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and assessments or
<br />insurance premiums, as the case may be, such excess shall be credited by the Mortgagee on subsequent payments
<br />to be made by the Mortgllior for such items or, at Mortgagee's option, as trustee, shall be refunded to Mort.
<br />gagor. If, however, such monthly payments shall not be sufficient to pay such items when the same shall become
<br />due and payable, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up
<br />the deficiency within thirty (30) days after wriuen notice from the Mortgagee stating the amount of the deficien-
<br />cy. which notice may be given by mail. If at any time lhe Mortgagor shall tender to the Mortgagee, in accordance
<br />with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby. the
<br />Mongagec, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mort-
<br />gagor any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. I f there shall be a default
<br />under any of tile provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the time of
<br />the commencement of such proceediogs or at the time the property is otherwise acquired, the amount then re-
<br />maining to credit the Mortgagor under (a) of paragraph 2 preceding. as a credit on the interest accrued and un-
<br />paid and the balance to the principal then remaining unpaid on said nOle,
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<br />4. The He'o of this instrument shall remain in full force and effect during any postponemenl or extension
<br />01' the time of payment of the indebtedness or any part lhereof secured hereby,
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<br />S. He/she will pay all ground renls, taxes, assessmeflls, waler rates, and other governmental or munlcl!'!al
<br />charges, fines, or impositions, Ic:vied IIpon said premises and lhal he/she will pay alllaxes levied upon 11m mort,
<br />gage, or the debt secured thereby, together with any other laxes or asscssmenlS which may be levied undt', Ihe
<br />laws of Nebraska against the Mortgagee, or the legal holder of said principal nOle, on accoU!ll or Ihi, Indehll'dne",
<br />except when payment for all such items has theretofore been made under (oj of paragraph 2 hereof. allL! hl' ,hl'
<br />will promptly deliver the official receipls therefor 10 the Mortgagee, In dcfauh thereof rhe r..h1r,I./HI!lCt' 01:1' 1':1\
<br />thr same, ,
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