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<br />88- 1070~3
<br />To HAVE AND To HOLD Ihe same UlIlO the MOrlgagee, as herein provided. Mortgagor represent. 10, and
<br />covenants wllh, the Mortgagee, thai the MOrlgagor ha. good right to sell and convey said premises: thm Ihey
<br />are free from encumbrance, except as herelnotherwlse reciled; that the Mortgagor will warrant and defend the
<br />same againsllhe lawful claims of all persons whomsoever. MOrlgagor hereby rellnqul.hes all rights of homestead,
<br />all marllal righls, eilher In law or In equity, and all olher conllngentlmerests of Ihe Morlgagor In and 10 the
<br />above.descrlbed premf-.~'
<br />PROVIDED ALWAY.; ,nul lhese presents arc executed and delivered upon Ihe foHowlng conditions, 10
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<br />wit:
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<br />Morlgagor agrees 10 pay 10 the Mortgagee, or order, the aforesaid principal sum wllh imerest from date
<br />at the rate of Ten and one hat f per cenlum ( 10,50 %)
<br />per annum on the unpaid balance umil paid. The said principal and interest shall be payable al the office of
<br />!ElM IIIIlT6I6O C1JRIl()RATIIJl
<br />in NT. ll.EIENS, MIDU!iIVj , or at such other place as the holder of the note may designate In
<br />writing delivered or mailed to the Mortgagor, in monthly installments of
<br />Three Hundred Eighty-Six and 34/looths
<br />
<br />Dollars '($ 386.34 ), commencing on the first day of February, 19 89 ,
<br />and conlinuing on the first day of each month thereafter until said note is fully paid, except that, if not sooner
<br />paid, Ihe final payment of principal and Interest shall be due and payable on the first day of
<br />January, 200-\ ; all according to the terms of a certain promissory note of even
<br />date herewilh execuled by the said Mortgagor.
<br />The Mortgagor further agrees:
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<br />I. He/she will pay the indebtedness, as hereinbefore provided. Privilege is rese:ved 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 nol be credited until the next following install-
<br />ment due dale or thirty days after such prepayment, whichever is earlier.
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<br />2. Together wilh, and in addition 10, the monthly payments of principal and imerest payable under Ihe lerms
<br />of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under Ihe terms of this trust as hereinafter
<br />stated) on the firsl 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 10
<br />elapse before one month prior to the date when sueh ground rents. premiums, taxes and assessments
<br />will become delinquent, such sums 10 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 Ihe nole
<br />secured hereby, shall be paid in a single payment each month, to he applied to the following items
<br />in the order ,'uted:
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<br />(I) ground r~.,'<, laxes, assessments, fire and olher hazard insurance premiums;
<br />(ll) interest on Ihe note secured hereby; and
<br />(Ill) amortization of the principal of said note.
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<br />Any deficiency in the amount of any such aggregale monlhly paymem shall, unless made good by
<br />the Mortgagor prior to the due date of the next such payment. constilute an evenl of default under
<br />this mortgage. At Mortgagee's oplion, Morlgagor will pay a "lale charge" not exceeding four per
<br />centum (4"70) of any installment when paid more than fifteen (15) days after the due dale thereof 10
<br />cover the exlra expense involved in handling delinquem payments, but such "late charge" shall not
<br />be payable out of the proceeds of any sale made 10 satisfy the indebledness 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 paymems 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 crediled by the Mortgagee on subsequent payments
<br />to be made by the Mortgagor for such ilems or, at Mortgagee's option, as trustee, shall be refunded 10 Morl-
<br />gagor. If, however, such monlhly payments shall nol be sufficiem 10 pay such ilems when Ihe same shall become
<br />due and payable, Ihen the Mortgagor shall pay 10 the Mortgagee, as trustee, any amount necessary to make up
<br />the deficiency within thirty (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 Mortgagor shall tender 10 the Mortgagee, in accordance
<br />with the provisions of the note secured hereby, full payment of the eotire iodebtedness 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 Ihe premises covered hereby, or if the
<br />Mortgagee acquires the property olherwise after defaull, the Mortgagee, as trustee, shall apply, at Ihe time of
<br />the commencement of such proceedings or at the time the property is otherwise acquired. the amount theo 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 10 the principal Ihen remaining unpaid on said note.
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<br />4. The lien of this instrument shall remain in full force and effect during any postponement or extension
<br />. of 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. laxes, assessmems, water rates, and other governmental or municipal
<br />eharges, fines, or impositions, levied upon said premises and that he/she will pay all taxes levied upon this mOrl- gage. or the debt secured thereby. togelher wilh any olher laxes or assessments which may be levied under the
<br />la"",:s of Nebraska against the Mortgagee, or the legal holder of said principal note. on account of rhi!o. indebtedness.
<br />except when payment for all such items has theretofore been made under (aJ of paragraph 1 hereof. and. hci!o:hc
<br />will pron:tpth'-del;.'er Ihe official receipts Iherefor 10 the Morlgage<:. In default Ihereof the :>.longagel' may pay
<br />the same.
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