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<br />87-101537
<br />To HAVE AND To HOLD the same unto the Mortgagee. as herein provided. Mortgagor 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 hereinotherwise 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 Ef gilt and one half per centum ( 8 -50'f) 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 GRAND ISLAND, NEBRASKA , or at such other place as the holder of
<br />undred to may designate BQ'itNtths
<br />writing delivered or mailed to the Mortgagor, in monthly installments of May 19 Hundred
<br />and continuing on
<br />Dollars ($ 286.80 ). commencing on the first day of y
<br />the first day of each month thereafter until said note is fully paid, except that, f not sooner paid, the fins„
<br />payment of principal and interest. shall Ile due and payable on the first day of April,
<br />according to the terms of a certan 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 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),whichewer 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,
<br />plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort-
<br />gagee. an,l of which the Mortgagor ;s notifi =•d) 1••ss all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date when such ground rents.
<br />premiums, taxes and assessments 111 be cr,me at-iinquent, 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 parable 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 l) ground rents, taxe -s, assessments, nn> ata +l other hazard insurance premiums;
<br />(H) interest on the note secured hereby: and
<br />(tit) amortization of the principal of said note.
<br />Any deficit nc _v in the arnoultt ,?f :iry tech aggre�gatc. montl :ly payment shall. unless made good
<br />by t.he- mortgagor prior to the (in dat•.- „f the next such payment, constitute an event of default
<br />under this mortgage. AL Mo-tgai,« , opti„n. Mortgagor will pay a "late charge„ not exceed-
<br />ng folic 1> r centum 1 1` } of an> :;.•ta!t mentt >; hen paid more than fifteen (15) days after the
<br />due date thereof to coyer the cx1ra e :pence involve- t in handling delinquent payments, but such
<br />.`late charge., shall not be pa, ahle -ut of tilt' pneceeds e�,r €ant sale made to satisfy the indebted-
<br />ness s -, ure,i her, fey, unl, =s .duct prixt, +ls are sutf e 01 T to discharge the entire indebtedness and
<br />all proper costs and expenses secur-o,l thereby.
<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 option, the as trustee.
<br />Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's
<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 the Mortgagor shall 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 v,ith 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 />If there shill be a default under any
<br />accumulated under the provisions of (a) of paragraph 4 heir = - of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<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 to 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 />d. The lien of this instrument shall remain in full force and e�fiect luring any postponement or exten-
<br />sion of the time of payment of the indebtedness or anv nart thereof secured hereby.
<br />5. Heshe will pay all ground rents, taxes, assessments, water rates, and other governmental or
<br />municipal charges. fines, or impositions, levied upon said premises and that he/she will pay all taxes levied .
<br />upon this mortgage, or the delis secured thereby, together with any other taxes or assessments which may
<br />be levied under the laws oi'Nobraska against the %Iortgageo. or the legal holder of said principal note. on
<br />account of this indebtedness, except when paym+ =nt f,:,r all ouch items has 1heret0f0r1' been made under 1U)
<br />,,, 1',araoaph <? hereof, antf he;+he well promptly drie-r the offtgtal receepts therefor t,i tho Nortgagee_ In
<br />defaatt the -n•of the til,,rt9a9, map poly tilt -game.
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