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$7- 101436
<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />are., covenants with, the Mortgagee, that the .1lvrtgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinothenvise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above- described premises.
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />-wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Eight per centum ( 8.001c) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of SUPERIOR MORTGAGE, INC.
<br />in GRIND ISLAM, NEBRASKA or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the .Mortgagor, in monthly installments of Three Hundred Fifty-Two and 21 /100ths
<br />Dollars ($ 352.21 ), commencing on the first day of May , 19 87 , and continuing on
<br />the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall be due and payable on the first day of April, 2017 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He /'she will pay the indebtedness, as herednbefore 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 the
<br />date received. Partial prepayment, other than on an installment due date, need not be credited until the
<br />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 this
<br />trust as hereinafter 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, 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,
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<br />Plus taxes and assessments next doe on the mortgaged property (all as estimated by the Mort-
<br />gagee, awl ,d ee hich the .liortgagc r is notified) less all sums already paid therefor divided by
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<br />the number of months to elapse before one month prior to the date when such ground rents,
<br />premiums, taxes and assessments kill 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 secure=d hereby, shall Ix paid in a single payment each month, to be applied to the follow -
<br />ing items in the order stated
<br />t 1) ground rents, taxes, assessments, fir. and ether hazard insurance premiums;
<br />(I1) interest on the note w: ured hereby. and
<br />lIII) amortization of the principal of -said note.
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<br />Any defici,,ncy in the amount of anc such aggregate= monthly- payment shall, unless made good
<br />by eh - All-rtgagor prior to zhe dliedat—,f ; next such payment, constitute an event of default
<br />under this mortgage. At Dior t},ago ht., n. Mortgagor will pay a "late charge" not exceed-
<br />ing four dwr e "nt:rm (1':) of ear install mt—nt se hen paid more than fifteen (15) days after the
<br />due eiat +• thereof to cover the extra expx•nse involved in handling delinquent payments, butsuch
<br />"late charge" ;hall not be payabl- out of the, prc,ceeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such prove ds an!,utfiicient ten discharge the entire indebtedressand
<br />all proper costs and expenses secured th -rebv_
<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 shall be credited by the Mortgagee
<br />on subaequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee,
<br />shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br />items when the same shall become due and payable, then. tiro Mortgagor shalt pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the deficiency within thirty (30) days after written notice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by mail. if at any time
<br />the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br />of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
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<br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br />amount then remaining tc credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />interest accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br />4. The lien of this instrument shall remain in full force and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or anv nart thereof secured hereby.
<br />b. He /she will pay all ground rents, taxes, assessments. water rates, and other governmental or
<br />municipal charges, fine-6, or impositions, levied upon said premises and that he /she will pay all taxes levied
<br />upon this mortgage, or the debt secured thereby, together with any other taxes or assessmenL. which may
<br />be levied under the laws e. >f Nc•hraska 4,arnst the Nortgagee, or the legal holder of aid principal note, on
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<br />account of this rndebtedncrs- except when pa•vinew for all such items has thereruf,o-e tw,-n made under ta)
<br />of paragraph 2 hereof, and he /she will prumpr.ly deliver the af%rgi,reYeile's th, n f�,r tie tho :ortgaget, to
<br />.lefnult there,,f the %t rtgagee tnay pay the same u
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