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a� 100858
<br />To HAVE AM) To Hots, the same unto the Mortgage, as herein provided, origagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as herein otherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent intzrests. of
<br />the Mortgagor in and to the above - described premises.
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Nine per centum ( 9 ".'r: ) per annum on the unpaid balance
<br />until paid. The said principal and interest shall 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 to the Mortgagor, in monthly installments of
<br />One Hundred Fifty_ -5i- and 91/ 100- Dollars ($ 156.91 ), commencing on the
<br />First day of March , 1987 and continuing on the First
<br />day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final pay -
<br />ment of principal and interest shall be due and payable on the First day ofFebruary ,
<br />2017 ; all according to the terms of a certain promissory note of even date herewith executed by the
<br />said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br />installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment, other than on an installment due date, need not be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the terms of the note secured hereby, Mortgagor will pay to Mortgagee. as trustee (under the terms 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 mortgaged property i all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is nutified) less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date w•hep such ground rents,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said 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, shall be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(t) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(it) interest on the note secured hereby; and
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate rnonthly payment shall, unless made good
<br />by the Mortgagor prior to the due date of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pat' a "late charge" riot exceed-
<br />ing four per centum (4�4 )cif 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 to satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient. to discharge the entire indebtedness and
<br />all proper costs and expenses secured hereby.
<br />3. If the total of the payments made by the Mortgagor under (a; of paragraph preceding shall
<br />exceed the amount of payments actually made by the lfortgager as tr, stf °e for ground rents, taxes and
<br />assessments or insurance premiums. as the case :nay be. sue h excess shai; be credited by the 5lurtgagee
<br />or. subsequent payments to be made by the Mortgagor for such : +err S of. at Mortgagee's option shall be
<br />refunded to Mortgagor. If however, such monthly payments Shall be sufficient to pat suh rtfMS
<br />when the same shall become due and payable, then the morigagor shall nay to the Mortgage as tr! silt
<br />any amount necessary to make n at rt
<br />up the defieit:v ithin thiy q' ty' urte .5r ttcr nut c from t..e
<br />1f ,rtgag,ef sta:ang the amount of 'the dig €icic tc y which nut c ,etc t n y . -::a +r 1' i ^;' th
<br />Mortga o shall tender to the Ylortfagt't °. in ic`_ordap.ce with the or � � r r� r� t � rru -n hvleb.v.
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<br />trill �,,x. ._r:t o`ih. etttirr• ine3ebtean<ss represe•nfed (hereby th, 4?n r tr Sta tall. tnFLlt nc
<br />vha i mo inn u? ri -:fit to ih+° a,i ount of ti.. fart
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