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87., 105400
<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 god convey said promises;
<br />that they are free from encumhrance, except as hereinotherwise recited ; that the Mortgagor will warrant
<br />and defend the same against the lace ful claims of all persons whomsoever. Mortgagor homy relingni a
<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 />Pitovitmo 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, t)re aforesaid principal sum with interest from date
<br />at the rate of Too oaf on hAlf leer centum (10.501/e,) per annum on the unpaid balance until paid.
<br />The said principal anti interest shall he payable at the office of "MDR WUK, IK.
<br />in ill" IVA, WWAKA , or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the Nlorlgitgor, in monthly installments of Five WWrW Fifty -Fear sill WOWS
<br />Milars ($ 54.33 ), commencing on the first day of yqr , 19 97 , and continuing on
<br />the first day of each month thereafter until spiel note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall 1w due and payable on the first day of Octaher, 2017 ; all
<br />according to the terns 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 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 Tess, 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 asst s.,ments next dae on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of %c hick the Mortgagor is not .ifi• d) iess alt gums already paid therefor divided by
<br />the number of inonths to elapse before one month prior to the date when such ground rents,
<br />premiums, taxers and assessniu•nts will become delinquent, such Rums to be held by Mortgagee
<br />in trust to pay said ground rents. premiums, taxes surf special assessments.
<br />(b) The aggregate of the amounts payable pursuant to .dub paragraph (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 />(►) ground rents, taxes, assessment,, fire and other hazard insurance premiums;
<br />(I1) inte rest )it the note secured hereby; and
<br />(111) amortization of the Fn•incipal of said note.
<br />Any deficiency in the arnount of :uiy such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the dne date of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum (9'% ) of ttny install ment when paid more than fifteen (15) days afterthe
<br />due date thereof to cover the extra expense involved in handlingdelinquentpayments, butsuch
<br />"late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted -
<br />ness secured hereby, unless such proceeds are sufficient to discharge theentire indebtednessand
<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 he 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 />aecumulated under the provisions of (a) of paragraph 2 hereof. If there shall be is 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 truster, shall apply, at the
<br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br />ant 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 anti effect during any ixrst poneinent or extern
<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, assement4s, water rates. and other governmental or
<br />municipal char", , fines, ter imlxwitions, levied upon said premises and that he /she will pay all taxes levied
<br />upmon this mortgage, or the deli, secured thereby, together with any other taxes or arse& menu which /nay
<br />to levied under the laws of Nebraska against the Mortgagee, or the, legal holder of Najd principal note, em
<br />aectmint of this indebtedness, except when payment fern all such it €ms has thereteafore preen mrah, under lu l
<br />crf paragii 2 he*trof, find he/she will promptly deliver the Offteial rer'eip.ro therefor ter t1w %lortgagee. in
<br />default thereof the Aorta re may pay the 4anw
<br />®1P.
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