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6" "100053
<br />To HAVE AND To Hom) the same until 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 herein otherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of ail 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,
<br />to wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Eleven per centum ( 11 ) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of
<br />Two Hundred Eighty and 93 /100 - - - - -- Dollars ($ 280.93 ),commencing on the First
<br />day of February 19 86 , and continuing on the First
<br />day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final pay-
<br />ment of principal and interest shall be due and payable on the First day of January
<br />2016 ; all according to the terms of a certain promissory note of even date herewith executed by the
<br />said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He 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), whichever is less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment, other than on an instalment due date, need not. be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, the monthly pavments 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
<br />.h;s trust as hereinafter stated) on the installment due date 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 r all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by
<br />the number of months to elapse before_• one month prior u, the elate •.vhep such ground rents,
<br />premiums, taxes and assessments will becorne delinquent, such Burns to ix• held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and speic•ial assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those l;ayable cut 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, assessments, tire and other hazard ins-.waru•c
<br />(11) interest on the note secured hereby; and
<br />(m) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate Monthly paynwro shaii, unless made good
<br />by the Mortgagor prior to the due date of the next such payment, consi note an ,' ,- :a of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum (4r'r ) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to covet' the extra exixtnse involved in handling deli nqur•nt payments, but such
<br />"law, charge" shall not be payable out of the proceed ty s of ar Salk, made to smt isfy the indebted
<br />-
<br />ness secured hereby, unless such proceeds are sufficient to, disrharge the ent ir•e indebtedness and
<br />all proper costs and expenses secured herib%.
<br />3. If, the total of the payments made by the Mortgagor under (al of paragraph '. preceding shall
<br />exceed the amount of payments actually made by the Mortgagee as tit :slew for ground rent,,, taxes and
<br />assessments orinsuranc,:e ptemwms. as the case may be, such excess shrill be Credited by the Mortgagee
<br />on subsequent payments to be made by the 1lorigagor for such iit.-ms or, a! Mortgagee's option,, shall be
<br />refunded to Mortgagor. If, however, such monitrly payments sisal] not be suffirrent to nay such items
<br />what the ,ame shall bec,orne due and payable. then the Mortgagor ,hall pay to the Mortgagee as trustee
<br />inv arr.riunt ner essary to make up the defir i-ticy within thirty i 1 days after written nots•-r from the^
<br />M :.tiga;;ec slatcng the amount of the defiCU�nr -�`. which notice mat' at any ttmethr
<br />Morigagot shall tHnder to the Mor!gekrc, in accordarice with the ptn Istrrns o! the t to Bel rc•e! hcreliv,
<br />'u,] p4 m,.aIt of ifra entir,^ Indebtedti, >s repr "anted lhe.ret)% the Mc,cr�• ch «•� :,s rruste . Sh,ell In - .,rnputiut
<br />!f; . atrnun4 i' ,, h r dl! to +h, ;ic ( olint
<br />anti�r tt';r r,tr..tilnnk 01 la', A ll�at;rt,!wpb ,'. t! )I rho+. - , f th, t,nn : :,,.�: :•,
<br />reSUl!Inl{ In a pllf il, ,iih. f !hr pre nll't of !tp M •ritla,rci A, 1t1:n0,
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