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86--- 102828
<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 and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise 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 law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above- described premises.
<br />PwvIDEi) 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, the aforesaid principal sum with interest from date
<br />at the rate of Nine and one half per eentum ( 9.50 %) leer annum on the unimid balance until paid.
<br />The said principal and interest shall he payable at the office of Superior Mortgage, Inc.
<br />in Grand Island, Nebraska , or at such other place as the holder of the note tray designate in
<br />writing delivered or mailed to the Mortgagor, in mouthy installments of Four Hundred Three and 61 /100ths
<br />Dollars ($ 403.61 ), commencing on the first day of August , 1986 , and continuing on
<br />the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall be due :uid payable on the first. day of July, 2016 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. Helshe 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 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 assessments Next clue on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of %%hich the Mortgagor is notified) !css all sums already paid therefor divided by
<br />the number of months to elapse before one. month prior to the date when such ground rents,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rants, premiums, taxes and special assessments.
<br />(b) The aggregate of the arr.ourts pa }-able pursuant tit .subparagraph (a.) and those payable on the
<br />note. secured hereby, shall be paid in a single payment eacle month, to be applied to the follow-
<br />ing items in the order stated:
<br />(1) ground rents, taxes, assessments, fire and ,ether hazard insurance premiums;
<br />(!i) interest on the nc,te secured liereby ;and
<br />(ill) 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 poor W the due date? , +f' the next such payment, constitute an event of default
<br />under this mortgage. At..11ortgogee's of,tion, Mortgagor will pay a "late charge" not exceed-
<br />ing four fx�r ccri Win of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover- the extra exptise involved in handling delinquent payments, but such
<br />"late charge" shall not [w parable 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 costs and expenses secured thereby.
<br />3. if the total of the payments made by the 31ortgagor under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes anti
<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 be 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 />accumulated under the provisions of (a) of paragraph 2 hereof. if there shall be a 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 trustAv,. shall apply, at the
<br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br />ammnt 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 in t.eumen' =i all remain rn fill force and affect durrig er , p stponernent or exten-
<br />sion of the time. of payment t of the . edeotedue si or anti mart the secured her oy.
<br />b. Heishr will pay ;all grewnd rents, taxes, assessments, water rates, and other governmental or
<br />municipal charges. fines, or impositions, levied upon said premises and that he -,' he will pay all taxes levied
<br />uptm thus mor -Wage. or the deb+ secured thereby, tiegether with any ether axes or m 6essmelita wan, h r:o ry
<br />be Imed under the laws cif Nebr "ka again,,', tare %lortgcsuex'. or the iepal holder of saint principal note. _•::
<br />%L(-ount of this tndvbt*� mess. eteept whe o payment for ;al': ,ouch its in c r,n, :.he retoi,•ro txeec. m e, r under +
<br />,if parv4aaoi 2 herrm, and hetrhe wall prompliy deriver ')w 'free.., ,.;4,%.. -i'r 'r„ €, =r _, the yt r ,� €ekee= is
<br />,i: Azar. rh�rvf the Ml rtfAakt c cony pay tf,+ "am"
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