87101360 - Laserfiche WebLink

Browse

87-- 101360 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 sett and convey said premises; that they are free from encumbrance, except 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 Mortgagor 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 Eight and one half per centum ( 8.501'e) per annum on the unpaid balance until paid. The said principal and interest shall he payable at the office of SUPER1Mt MORTGAGE, INC. in GRAD I st.AND, MEBRASKA , or at such other place as the holder of the note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of Two Hundred Nineteen and 52 /100ths velars ($ 219.52 ), commencing on the first day of May , 19 87 , and continuing on the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of April, 2017 ; all according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He /she will pay the indebtedness, as hereinbefoie 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 dollars ($100.00), whichever is less. Prepayment in full shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following installment 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 will 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 the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property tall as estimated by the Mort- gagee, and of echich the Mortgagor is notified) less all sums already paid therefor divided by the numbe r of months to elapse before one month prior to the date when such ground rents, premiums, taxes and assessments will be: ^ome delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, taxes and special assessments. (b) The aggregate —f the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, shall lye- paint in a singit- payment each month, to be applied to the follow- ing items in the order stated: ( 1) ground rents, taxes, assessments, fin and other hazard insurance premiums; (11) interest on the note secured hen=bv -and (111) amortization of the principal of said note. any deficient} in the amount ..f and w aggregate monthly payment shall, unless made good by the Nlortgagor prior to tKe d+ie date .,f the next such payment. constitute an event of default under this mortgage. At Mortgage e's <.l;ti. >t:- Mortgagor will pay a "late charge" not exceed- ing four per centum ( 1'r) ..i any irista;! tnont wizen paid more than fifteen (15) days afterthe due date thereof to cover the extra e xix n_e involved in handling delinquent payments, but such 'late charge" shalt net be payable nut (if the proceeds of any sale made to satisfy the indebted- ness secured hereby, unless such pry ce,is are sufficient to discharge the entire indebtedness and all proper 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 runs, taxes and assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee on subsequent payments to be made by the Mortgagor for such items or, at :Mortgagee's option, as 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 parable. then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up the deficiency- within thirty (30) days after xritten notice from the Mortgagee stating the amount of the deficiency, which notice may be given by mail- If at any time the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note se-cured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the :Mortgagee, 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 remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the balance to the principal then remaining unpaid on said note. 4. The lien of this instrument shall remain in full force and effee:t during any postponement or exten- sion of the time of payment of the indebtedness or anv hart thereof secured hereby. 5. Heishe will pay all ground rents, taxes, assessments, water rates, and other governmental or municipal charges, fines, or impositions, levied upon said premises and that he /she will pay all taxes levied upon this mortgage, or the debt secured thereby, together with any other taxes or assessments which may he levied under the laws of Nebraska against the Mortgagee, or the legal holder of said principal note, on at-count of this indebtedness, except when payment for all such items has theretofore been made under (aJ of patngraph 2 hereof, and he she will promptly deliver the official ref -eipts therefor t„ the AfvrtH:gee_ In default there„t live NjoriRagee niay pay th.• srrnr.