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$6-- 101679
<br />To HAVE AND To H011', the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as herein otherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead,, all marital rights; either in taw or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above - described premises.
<br />PitOviDw ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Nine and One Half per centum ( 9 %) per annum on the unpaid balance
<br />until paid. 1`he said principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor. in monthly installments of
<br />One Hundred Sixty Three and 97/100 Dollars ($ 163.97 ), commencing on the First
<br />day of May 1.9 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 Apri 1
<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 an
<br />time, without premium or fee, the entire indebtedness
<br />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 installment 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 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
<br />this 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 (all as estimated by the Mort-
<br />rv'
<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 to the date whep
<br />such ground rents,
<br />premiums, taxes and assessments will become delinquent, such slims to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special assessments.
<br />(b) 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, assessments, fire and other hazard insurance premiums;
<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 payment shall, unless made good
<br />by the Mortgagor prior to the due date of the next Stich
<br />payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not excer d-
<br />ing four per centum (4 �4) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br />"late
<br />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 the entire indebtedness and
<br />all proper costa and expenses secured hereby.
<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. shall be
<br />refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pav such atetlts
<br />when the same shall become due and payable, then the Mortgagor shall pay to the Moritageo as tntstea'
<br />any amount necessary to make lip the deficiency within thirty (3(1) days after written notice from the
<br />Mortgagee stating the amount of the deficiency, which notice may be $ :uen my :iaaal if at any !!fro the°
<br />Mortgagor shall terader to the Mortg<ager, in accordance with the provisions ; >f the note secured her by.
<br />full " yment of the rnfiw indebtedn+`ss repretiented thervbv. the Mortgagee as trustee shall, aaa computing;
<br />the a.naunt yurh andebtedness., = re10 to the- arvount of t'tr Mo,tgajot air, credit hal,ance act 'ftttulat"d
<br />rrtlar tht =;;ratiasa ©n of r,'a'r a2f paragraph ? lwrvot if there shoal! ;any „r lhv 11W tIS ents
<br />�e> th- moll ee teK rlhne ;r, a tats`rrEt; tial +> .t ft- premixes revered t ,,r •h� or ;' tile- liar+ a a r• ;ai'�lutr c
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