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66- 202584 To HAVE AND To liol.D the same unto the Mortgagee, as i encin provided. Mortgagor represents to, and cowenants with, the Mortgagee, that the Mortgagor has gund right to sell and convey said premises; that they are free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of the Mortgagor in and to the above - described premises. PROVIDED ALwAts, and these presents are executed and delivered upon the following conditions, to grit: Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of Nine and one hat f per centum ( 9.50 c) per annum on the unpaid balance until paid. The said principal and interest shall be at the Superior payable office of Mortgage, inc. in Grand Island, Nebraska , or at such other place as the holder of the note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of Three Hundred Forty -Tyro and 51 /100ths Dollars ($ 342.51 ), commencing on the first day of July , 1986 , and continuing on the first day of each month thereafter until said note is fully paid, except that, if sooner not paid, the final payment of principal and interest shall he due and payable on the first day of .tune, 2001 ; all according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He/she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars, ($100.00), whichever is less. Prepayment in full shall be credited on the date received. Partial prepayment,'other than on an installment due date, need not be credited until the next following installment due date or thirty days after such prepayment, whichever is earlier. 2. Together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid: (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of sire and other hazard insurance covering the mortgaged property, plus taxes and assessments next (Inc on the mortgaged property (all as estimated by the Mort- gagee, and of which the Mortgagor is notifie(I) less all sums already paid therefor divided by the number of months to elapse before one month to the prior (late when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust tc, pay said ground rents, premiums, taxes and special assessments.' (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the follow- ing items in the order stated: (1) ground rents, taxes, assessments, fire and other hazard insurance premiums; (11) ilatereston tile notesecured hereby; and (111) amortization of the principal of said note. Any deficiency in the arnount of any such aggregate monthly payment shall, unless made good by the Mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. At :Mortgagee's option, Mortgagor will pay it 'late charge" not exceed- ing four per centum (.17( ) of airy install meat when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted- ness securest hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and assessments or insurance premiums, as the case may be, such excess shall he credited by the Mortgagee on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up the deficiency within thirty (30) day, after written notice from the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time Cite Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the time of the cornmencement of such proceedings, or at the time the property is otherwise acquired, the amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the balance to the principal then remaining unpaid on said note. 4. The lien of this instrumcai;. shall remain in full force and effect during any pr,sttxnement or exten- sion of the time of payment of the indebtedness or anv hart thereof secured hereby. 5. Hv,she will pay all ground rents, taxes, assessments, water rates. and other governmen o r tal municipal charges, fines, or impositions, levied upon said premises and that he;she t` Ad will pay all taxes levied upon this mort$W. or the debt *m7ured thereby. together with any other taxes or w%essme: its which may lie levied under the laws c'ANiebraska against the Mortgagee. ar the legal holder of said principal note. on *'count of this indebtednem, except whon payment for ell such items has therntofon, teen mach' �.wtder fa � of Plin aph 2 hereof, and he. she will promptly dehv4is A! ti�ficual receipts therefor to the m rtgakee fn (Watelt thPmlf the Mortga"4.. ❑uay pay the !wme.