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88- 104158 To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to, and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they are free from encumbrance, exeept as hereinotherwise recited; that the Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of the Mol'tgagor in and to the above-described premises. PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to _wit: Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of Ten per centum (10.0%) per annum on the unpaid balance until paid. The said principal and intCl:est shall be payable at the office of The Equitable Building and Loan Associat ion. in Grand Island, Nebraska , or at such other place as the holder of the note may designate in writing delivered or mailed to the MOl'tgagor, in monthly installments of Two Hundred Ninety Two and 24/100 Dollars ($ 292.24 ), commencing on the first day of September ,1988 ,and continuing on the first day of each month thereafter until said note is fully paid, except that, if not SODner paid, the final payment of principal and interest shall be due and payable on the first day of Augus t, 2018 ; all 3ccording to the terms of a certain promiSSOl')' note of even date herewith executed by the said Mortgagor. The Mortgagor fu rther agrees: 1. He/she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred doUars ($100.00), whichever is less. Prepayment in fuU shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following instaJlment due date or thirty days after such prepayment, whichever is earlier. 2. Together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby, Mortgagor w ill pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid: (a) A sum equal to the ground rents, if any, next due, plus thc prcmiums that will next become due and payable on policies of fil'e and other hazard insurance eovering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort- gagee, and of which the MortgagOl' is notified) less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, taxes and special assessments. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the follow- ing items in the order stated: (I) ground rents, taxI's, assessments, fire and other hazard insurance premiuma; (II) i ntel...st on the note secu red hereby; and (III) amortization of the principal of said note. Any defici!'llcy in the amount of any such aggregate monthly payment shall, unleaa made iood by the !\Iortgagol' prior to the nUl' date of the next such payment, constitute an event of default under this mortgage. At Mortgagee's uption, Mortgagor will pay R "late charp" not exceed- ing foul' pcr Cl'ntum H '7~) of any install ment when pa.id more than fifteen (15) days after the due date tllPn'of to covel' the extra expense involved in handling delinquent payments, but such "late charge" shall not be rayable out of the proeeeds of any sale made to satisfy the indebted- ness secUl'ed Ill'n'by, unless sllch proceeds are sufficient to discharge the entire indebtedne8lland all propel' costs and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortea&'ee on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, &II trustee, shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, &II trustee, any amount necessary to make up the defieiency within thirty (30) days after written notieefrom the Mortgagee stating the amount of the defl.cieney, whieh notice may be given by mail. If at any time the Mortgsgor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortll'aaee, as trustee, shall, In computlnll' the amount of such indebtednell8, credit to the account of the MortgalOr any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisiolUl of this mortg&lfe resulting in a public sale of the premises covered hereby, or if the Mort.agee aCQuirell the property otherwise after default, the Mortgalfee, as trustee, shall apply, at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the amount then remaininll' to eredit the MortgalfOr under (a) of paragraph 2 precedln,," a credit on the interest accrued and unpaid and the balance to thl! principal then remalniq unpaid on uid note. 4. The lien of this illstrument shall remain in full force and effect durina' any postponement or exten- sion of th!' time of pa~'ml'nt of the indebtedness or anv nart thereof secured hereby, 5. He/lhe will pay all jp'ound renllt, taxel, _unenllt. water rate., and other lIovemmentlll or municIpal chulles, fines. or impOlltions. levied upon laid prt!mllel and that hl!/lhe will pay D11 tau. levied ul'on this morllaae, or the debl lK'CurOO thert'by, tollether with any other tax" or UMamenta which mil)' hi! It'vled under the hlWI of Nebruka 1lIa1l1lt the Morll.t', or thl' II'RaI holder of u1d principal note, on account of thillndl'bWdnf"Sl, mll'l!pt when I'ayment for all luch it.enll h.. then!t.ofo~ been mlde under (a) olllallfCl'lph 2 hl'rt'ur. and h.'jah.. wtll promptly deliver OIl!' ornc.al rt'Celpllt thert'for to the MortclllH. In dl'fault tlll'r...,! !hI' Morl<<lI(lfJl' may pay Ule lame.