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JL00387
<br />To liAVE .ate To ltoin the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the ltiartgagee, that the Mortgagor has good right to se l and convey said premises;
<br />t they ,stye free from encumbrance, except as herein other•w•ise recited; that the Mortgagor will warrant
<br />dc4end tike,sarne against the )awful Adaims of all persm►s whomsoever. Mor•tgagor,hereby relinquishes
<br />an riotit of here ail marital rights, either in law or in equity, and all tither contingent interests of
<br />}be for 'in and to the above 4escribed pre mines.
<br />Paovnm 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 w?th interest from
<br />11 %) annum on the unpaid balance
<br />date at the rate of Eleven per centum ( per
<br />The and interest shall be payable at the office of the Loan Guaranty Officer,
<br />until paid. said :principal
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />in monthly installments of
<br />note may designate in writing delivered or mailed to the Mortgagor,
<br />Two Hundred Forty -Seven and 12/100 Dollars ($247.121 ), commencing on the
<br />March 1986 and continuing on the First
<br />First day of _
<br />day month thereafter until said mote is fully paid, except that, if not sooner paid, the flaw pay
<br />of each
<br />meat of principal and interest shall be due and payable on the First day of
<br />date herewith executed by the
<br />201{6 ; all according to the terms of a certain promissory note of even
<br />said Mortgagor.
<br />P
<br />The Mortgagor further agrees:
<br />to at any
<br />1. He will pay the indebtedness, as hereinbef ore provided. Privilege is reserved prepay
<br />thereof not less than the amount of one
<br />time, without premium or fee, the entire indebtedness or any part
<br />one hundred dollars I$l(lo.()0), whichever is less. Prepayment in full shall be credited on
<br />installment, or
<br />the date received. Partial prepayment, other than on an installment due date, need not be credited until
<br />due date or thirty day's after such prepayment, whichever is earlier.
<br />the next following installment
<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />trustee (under the terms of
<br />the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as
<br />stated) on the installment due date of each month until said note is fully paid.
<br />this -trust as hereinafter
<br />(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due
<br />the mortgaged property,
<br />and :payable on policies of fire and other hazard insurance covering
<br />Plus taxes and assessments next due on the mortgaged property t all as estimated by the Mort-
<br />already paid therefor divided by
<br />gagee, and of which the Mortgagor is notified) less all sums
<br />the number of months to elapse before one month prior to the date tit'heji such ground rents,
<br />bird by Mortgagee
<br />will premiums, miiu spay said ground menu remiumos, taxes and spec ial assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br />secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br />note
<br />ing items in the order stated
<br />•ms°
<br />(1) ground rents, taxes, assessments, fire and other hazard insui .rote premiu ,
<br />(it) interest on the note secured hereby; and
<br />(lll) amortization of the principal of said note.
<br />Any deficiency in the amount 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. Al Mortgagee's option, Mortgagor will pays "late charge" not exceed-
<br />ing four per centum (4 °,R.) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to rover the extra expense involved in handling delinquent payments, but such
<br />"late charge" shall not be payable out of the Proceeds of any sale made to satisfy the indc bted-
<br />nem secured hereby, unless such proceeds are sufficient to discliarge the entire indebtedness and
<br />cured hereby.
<br />all proper coats and expenses Rc .
<br />3, if the total of the payments made by the Mortgagor under (a) of paragrap'renes dtaxes and
<br />rx.ceed the amount of pay'merits actually made by the Mortgagee as trustee for ground
<br />h excess shall be redited by the Mortgagee assessments or insurance premiums, as the case may tie, sucortgagee
<br />on subsequent payments to be made by the Mortgagor for such items ol. at Mortgagee's option. shall he \
<br />refunded to Mortgagor. lf. however, such monthly payments shall not be sufficient to pay such items
<br />when the same shall become due and payable, then the Mortgagor shall pay to the Mortga(:,ec as trustee
<br />any amount necessary tc.. make oip the deht iencv within thirty ( .0) days aflr n
<br />z wt +er notice from "he
<br />Mortgage stating the amount of the deficiency, which notice may he t•.tven nit Trail It at ant time the
<br />Mort.gager shall zendtr ur rife MortgmFee. in accordance with the prctiisioris of the ntir srcuied hrzeb�.
<br />full l" v., nt rit tree erntu 1nd0•blvdfm °ss reprrtiYnted hrrc',t1. the Mr >�Il e(e c as tnislee shall- itt tomputa4k.
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