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<br />88-105772
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<br />To HAVE A;\IO To HOLD the same unlo the Mortgagee, as herein provided. Mortgagor represents to, nnd
<br />covenants whh, the Mortgagee. that the Mortgagor has good right to sell and convey said premlses~ that they
<br />ofe free from encumbrance, except as hereinothcrwise 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 marhal rights, either in law or in equhy, and all other contingent interests of the Mortgagor in and to the
<br />ahove-described premises.
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions. to
<br />wit:
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<br />r
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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 ELEVEN AND 00/100 per centum (11.000 "I.)
<br />per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of
<br />HOMESTEAD SAVINGS, 979 BROADWAY
<br />in MILLBRAE, CA 94030 ,or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the Mongagor, in monthly installments of
<br />FIVE BUNDRED FORTY-SIX AND 35/100. *******************************
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<br />L
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<br />Dollars ($ 546.35 ), commencing on the first day of NCN EMBER , 1988 ,
<br />and 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 />OCTOBER 2018 ; all a;:cording to the terms of a certain promissory note of even
<br />date herewith e.ecuted by the said Mongagor.
<br />The Mongagor further agrces:
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<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 he credited until the ne.t 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 />of the note secured hereby, Mongagor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinalter
<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, ne.t due, plus the premiums that will ne.t become due and
<br />payable on policies of fire and other hazard insurance covcring the mongaged propeny, plus taxes
<br />and assessments ncxt due on the mortgaged property (all as estimated hy 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 aggr:gate 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:
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<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(11) interest on the note secured hereby; and
<br />(III) amonization 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 Mortgagor prior to the due date of the next such payment, constitute an event of default under
<br />tltis mortgage. At Mortgagee"s option, Mortgagor will pay a Ulate charge" not exceeding four per
<br />centum (4"10) 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 indebtedness secured hereby. unless
<br />such proceeds are sufficient to discharge the entire indebtedness and all proper costs and e.penses
<br />secured thereby.
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<br />3, 1f the total of the payments made by the Mortgagor under (0) of paragraph 2 preceding shall e.ceed the
<br />amount of payments actually made by the Mongagee, as trustee, for ground rcnts, ta..,. and ll:lscssment. or
<br />insurance premiums. as the case may be, such e.cess shall be credited by the Mortgagee on subsequent payments
<br />to be made by the Mortgagor for such items or, at Mongagee'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 payahle. then the Mortgagor shall pay to the Mongag"", as trustee, any amount necessary [0 make up
<br />[he deficiency within thiny (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 Mongagor 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 />Mortgagee, 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. If 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 />Monpgee 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 />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 notc.
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<br />4. The lien of this instrument shall remain in full force and effect during any postponemem or extension
<br />~f the time of payment of the indebtedness or any part thereof secured hereby.
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<br />S. He/she will pay all ground rents. taxes, assessments, water rates. and other governmental or municipal
<br />charges. fines, or impositions, levied upon said premises and that he/she will pay all taxes levied upon this mort.
<br />pge. or the debt secured thereby, together with any other taxes or assessments which may be levied under the
<br />~.ws or Nebraska against the: Mortgagee. or the legal holder of said pnndpal nOle. on account of this indebtedness,
<br />except when payment for all such items has theretofore been mnde: under (a) of paragraph 2 hereof. and hl'/shc
<br />will promptly deliver the f)fricial receipts therdor to the Mortgagee. In cJefauh thercof lhc MUllgagCl' may pay
<br />Ihe same.
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