86103702 - Laserfiche WebLink

Browse

i 86- 103702 To HAVE AND To Itoi.D the same unto the Mortgagee, as hvretn provided. btortgagor• represents to, and covenants with, the Mortgagee. that the Mortgagor has gnio,t right to s, 11 and convey said premises; that they are free from encumbrance except as hercinother u r c ti•c!ted; that the Mortgagor welt warrant 1 and defend the same against the lawful clairns of all persons %--honisc,v,.er. Mortgagor hereby relinquishes j all rights of homestead, all marital rights, either in law or in equity, mid all other contingent interests of the Mortgagor in and to the above - described premises. NoviDED ALWAYS, and these presents are executed and delivered upon the following conditions, to wit: Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal stun with interest from state at the rate of Nine and one half per centunt (9. 500 )Fqer nr�trrt� =a�I an,�o: $balance t:r:til paid. The said principal and interest shall be payable at the• office , f an�s oan �ssoc�atfof of Lincoln in Lincoln, Nebraska or at such other place as the holder of the note may designate in writing delivered or mailed to the Mortgagor. in rronthly installments of Pour liundred Eleven and 95/100 Dollars ($ 411.95 ). commencing on the first day of September , 1986 , and continuirig on the first day of each month thereafter until said note is fully paid. except that, if not sooner paid, the final payment of principal an,{ interest sliall be clue and payable on the first ba y of August , 2001 ; all according to the terms of a certain promissory note of even date• h,•1't-With executed by the said Mortgagor. The Mortgagor further agrees: 1. He will pay the hl,h btedness, as hereinbefore provofod. Privilege is reserved to prepay at an y time, without premium of i,•e. •h,• entire in,h,btedness or am part thereof riot less than the amount of otte 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. rte monthly payments of principal and interest payable under the terms of the note secured hereby, Mnrt; agor 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 orb policies of fire and other hazard insurance covering the mortgaged property, plus taxes ;rr,d assessments next chte on the mortgag,d property (all as estimated by the Mort- gagee, and of x Inch the Mortgagor !s not rfi, d) less all sums already paid therefor divided by the nun ;leer of months t„ ,•lapsv b-fors one month prior to the date when such ground rents, premiums, taxes and assessments a ill lw� nmt. delinquent, such sums to be held by Mortgagee in trust to pay said kround rents. premiums, taxes anti special assessments. (b) The aggregate of th,• ani„crnts payatdc pursuant to subparagraph (u ) and those payable on the note secured herchv, shrill iw paid in a single paynuvrt each month, to be applied to the follow- ing items Ili the order st.acd (1) ground rents. taxes, a,sessmrr.ts. ter.- amt other hazard insurance premiums; tit) interest on th,• r:ote secure,i her,•by ;ant! (111) amortization „f the principal of said nntc. Any defrctcncy ;n th, ;amount-4 anR such aggregate ni m!thly payment shall, unless made good by the Nlortgagiil in-r,r to the due ,late c,f the next such payment, constitute an event of default udder this mortgage. At NIortgag(e's ol)tcor„ >I,,tgagor• will pay a "late charge" not exceed- ing four ;x•r centtrnr (1 : ) of any tristaii nient •t hen paid more than fifteen (15) days after the due date thereof to cover the extra expense Involved it handling delinquent payments, but such "late charge" shall not be payable out of the procee,is of any sale made to satisfy the indebted- ness secured hereby, unless suet! pr, eeeds arc 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 be 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) days after written notice from the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time the 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 `L 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 commencement of such proceedings, or at the time the property is otherwise acquired, the amount then rerr wining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unj�aid and the balance to the principal then remaining unpaid on said note. L d. The lien of this instrument shall remain in full force and effect during any i,ostponement or exten- sion of the time of payment of the indebtedness orally part thereof secured hereby. 5. tie will pay all ground rents, taxes, assessments, mater rates, and other governmental or munici- pal charge =s, fines, or iRipc;,c :t!ons, iie%ied upon cans premises and that he will pay all taxes levied nlx,n this mortgage. or the debt secured thereby, together ee;th any other taxes or assessments ee h!(h may be levied under the laws of Nebraska uga:nst tho Mortgagee-. or thv legal holder of "!d prtrn ilia; n,•to, „n account of this indebtedness, except •a hen payment for lilt hw h items has theretotore heen made un,i, r in ) of para- graph Y. her.-}f, and hn � ill promptly ,fe1 :•,cr the :,Ills rat ro, vwlt i therefor !.• the ytnrtgaFw• In default there, f the Morticativ- n,vy Iva) tilt. r.:an.1 R,