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77 102451
<br />To HAVE AND To IlnLlr the saint, unto the Mortgagee_, as herein provided• Mortgagor represents to,
<br />And covenant with, the Mortgagee, that the'[ortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, exropt as hor•einot.herwise recited: that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all person, a hum,oevor. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests
<br />wit: 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 />Mortgagor agrees to pay to the ;M
<br />at the rate of Nine and one half ortgagee, or order, the aforesaid principal sum with interest from date
<br />Per centurn 9.SOc,,; unpaid
<br />The said principal and interest shall he payable at the office of) (SUPERIOR MORTGAGE,ING, balance until paid.
<br />in GRAND ISLAND, 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 Twenty -Sfx
<br />Dollars ($ 326.67 ), commencing on the first. day of and 67 /100tha
<br />the first day of each month thereafter until said note is fully paid, except that,
<br />July , 198t sooandpaidirthe final
<br />Payment of principal and interest shall he due and payable oft flu• first day of June, 2017
<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 />I. He /she will pay the indebtedness, as herembefore 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 r 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 wail 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 ether hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due• nn the nuo'tgagerl property (all as estimated by the Mort-
<br />of and of echich theAIcntgag<n is n,tif ➢wit less �,II ,ums already paid therefor divided by
<br />the number of mouths to elapse before nee rime", prior• to the (late when such ground rents,
<br />Premiums, taxes and assessments kill become ,felinyuerrt, such sums to be held by Mortgagee
<br />in trust to pay said ground rents. 1>remiurns, raze~ and special assessments.
<br />(Ir) The aggregate of the am,,,unts 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 />(1) ground rents, taxes, assassnunts, fire and ether hazard insurance premiums;
<br />(11) interest s ,n tilt, notesecurr•dhereby;arnrl
<br />(111) amortization of the In•inc•ipal of said note.
<br />Any deficiency in the arnount of any such aggr gate monthly payment shall, unless made good
<br />by n the Uurigagor• prior to the due (late of the next such payment, constitute an event. of default
<br />under 1. is mortgage• ,; 11or•tgagee's option. Mortgagor will pay a "late charge" not exceed-
<br />ing four per ce ntum (I`7) of an} ir,sLrllnuvat then pn.id more than fifteen (15j daysafterthe
<br />due data thereof 11 cover the extra exl >,. ;,s,, ira� -olced in handling delinquent payments, but such
<br />"late charge" shall not he pa} athle „ut 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 sccur,•d 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 binrtgager. as trustee, for ground rents, taxes and
<br />assessments or insurance premiums, as the case may Ix, such excess shall be credited by the Mortgagee
<br />on subsequent 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 Co 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 ( : ;n) days after written notice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by the Mortgagor shall tender to the Mortgagee, in accordance a ith the provisio ns of !tile note secu time
<br />hereby, full
<br />in computing the amount of such indebtedness, indebtedness recut to tiler accuunttof the M� gagee, trustee, shall, 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
<br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trustctie, 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 (edit on the
<br />interest accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br />Ld. The lien of this instrum('rrt 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 />5, He /she will pay all ground rents, tuxes, assessments. water rates, and other goverrunental or
<br />municipal charges, fines, or impo ttions, levied upon said premises and that he /she will pay all taxes levier!
<br />upon this mortMe, or the debt secured thereby, t„gether with any ether tuxes or s> scssmer,ts which may
<br />tx lavicd under the laws of Nebreska aga,n,wt the• %1ort.gagee, Ot the legal h„lder „F scut principal note, on
<br />as'c•our,E of this uulabtavtnwa. c.xc-el,t When I,rr ;men! f„r All such items hasa ;,herele,furr IH�,�n made oilier ca t
<br />of parkonph 2 he reuf, and he:tabe w,h prv,tnptiti it, n•.er the. ,fit, lefwsalt there „f he M rn,t p,} eh, ,um t
<br />l,l, t, the Mortgage” In
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