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87-101537 87-102456
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<br />To HAVE ANN) To HOLD the same unto the Mortgagee, ;
<br />and covenants with, the Mortgagee, that the Mortgagr has good r ghttto(' cell and ocogrveyrsaid 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 whomsoe r'
<br />ve• 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 />wit: PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Eight and one half Per centum (8.50; p
<br />The said principal and interest shall he Payable at the office of per
<br />MORTtCAGE, INC. balance until aid.
<br />in cltwie Ist.Al10, MEliRA51(A p` y
<br />or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the Dortgagor, in monthly installments of Two Hundred Eighty-Six and 80h00the
<br />Dollars ($ 286.00 ), commencing on tire first day of
<br />the first day of each month thereafter until said note. is fully Paid, except that, if not7soonerpaid1 the fi al
<br />Payment of principal and interest shall he due and payable on the first day of April, 2017
<br />according to the terms of a certain promissory note of even (late herewith executed by the said Mortgagor'
<br />The Mortgagor further agrees:
<br />I. 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 ($10o.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 clue, 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, and of which the Mortgagor is notified) less a.11 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 will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special assessments.
<br />(6) 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 />(1) ground rents, taxes, assessnuwts, fire and other hazard insurance premiums;
<br />(II) interest')" the notesecured hereby; and
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the am"unt of any such aggregate monthly 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 Mortgagees option, Mortgagor will pay a "late charge" not exceed-
<br />ing four Per ccntum (4 ) of any install rnent when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payments, butsuch
<br />"late charge" shall riot be payable out of the proceeds of any sale made to satisfy the indebted-
<br />ness psec toed hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured 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 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 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 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
<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 />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 hart thereof secured hereby.
<br />5. He /she will pay all ground rents, taxes, assessments, water rates, and other goyeromenftal 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 debt secured thereby• together with any other taxes or assessments which may
<br />be levied under the laws of Nebraska against the Mortgagee, or the legal holder of said principal note, on
<br />account of this mdebt dnei;8, except when payment for all such items has theretofore been made under (o)
<br />of pwragraph 2 hereof, and he /she will promptly deliver the vfftrjl�J,t i,ipty therefor to the Mortgagee_ In
<br />default :hereof the'fortgagee tray pay the game.
<br />V A'n�m.M 9,121
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