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<br />88_106767
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<br />To HAVE ANO To HOLD U.e BAme unlo U", Morlllagee, as herein provided. Mortgagor represenulo,
<br />and covenants with, the Mortgagee. that the MartK'a gor has good right to sell and convey said prcmlsc9 ;
<br />that they are free from encumbrance, exeept as herein otherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all pe..on. whomsoever, Mortgagor hereby relinquishes
<br />all rights DC homestead, all nJarita: rights, either in law or in equity, and aU otlier contingent interests or
<br />the Mortgagor In and 10 the above.described premise..
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<br />PROVIDED ALW" YB, and these presents arc executed and delivered upon the following conditions,
<br />Iowit:
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<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Ten per centum ( 10 0/0) per annum on the unpaid balance
<br />until paid. The aaid principal and interest .hall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed 10 the Mortgagor, in monthly installments of
<br />Three Hundred Seventy Nine & 55 /lOlbollars ($ 379,55 ), commencing on the first
<br />day of J anu a ry , 19 89 , and continuing on the first day of each month thereaher until said
<br />note is fully 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 December , 2018; all according to the terms of a certain pro-
<br />missory note of even date herewith executed by the said Mortgagor.
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<br />The Mortgagor further agrees:
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<br />L He/she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire mdebtedness or any pan thereof not less tban tbe amount of one
<br />installment, or one bundred dollars (100.00), wbicbever is less. Prepayment in full sball be credited on tbe
<br />date received. PaniaJ prepayment, otber tban on an insta1lment due (late, need not be credited until the next
<br />following installment due date or thirty days after sucb prepayment, whicbever is earlier.
<br />2. Together with, and ia addition to, the monthly payments of principal and intetest payable undet
<br />the tenns of the note secured heteby, Mortgagor will pay to Mortgagee, as Iruslee (under the tenns of
<br />this trust as hereinafter stated) on the installment due date 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
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due on the morlgaged 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 whcp such ground rents,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay s~id 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, sball be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(I) 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 />Any deficiency in the amount of Bny such aggregate monthly payment shall. unless made good
<br />by the Mortgagor prior 10 the due date of the n""tsuch payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a Ulate 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 10 satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper com and expenses secured hereby.
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding 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 case may be, such excess shan be credited by the Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Morlgagee's option, shall be
<br />refunded to Mortgagor. If, however, such monthly payments shaH not be sufficient to pay such items
<br />when the same shall become due and payable, Ihen the Mortgagor shall pay to the Mortgagee as trustee
<br />any amounl necessary 10 make up the deficiency within Ihirty (30) days after wrillen ootice from the
<br />Mortgagee stating the amount of the deficiency, which no.tice may be. ~iven by mail. U at any time the
<br />Mortgagor shlJllender to the Mortgagee, in accordance With the proVISions of the note secured hereby.
<br />full payment of the entire indebtedness represented thereby, the Mortgagee as trustH" shaJ 1. in computing~
<br />the ,amount or surh mdf'btedness, credit to the account of the Mortgagor any cr~dit bal.lDC"p acC'umulated
<br />undrr Uu' InOli.BlOnti of (a) of paragraph 2 hereor. If there shall be D default undt'r any ot thl' prO\o'lsions
<br />ollh.'I murlr,uc.. r,.,.u)lIng In a public sale of the premises co\'ere-d herf>'b)'. or If thl" Morlga~t't. aequlU's
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