|
86- 103878
<br />To HAVE AM) To HOW the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good tight to sell and convey said premises;
<br />that they are free from encumbrance, except as liereinotherwise 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 (if 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 />Pftovtngll 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 centurn 6); per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the ot'ic•e of The Equitable Building and Loan Association
<br />in Grand Island, Nebraska , or at such other place as the holder of the note may designate in
<br />writing delivered c: r mailed to the !Mortgagor, in monthly installments of Two Hundred Ninety Seven and 25/100
<br />Dollars (:5 297.25 ), 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 riot sooner paid, the final
<br />payment of principal and interest shall be due .aid payable on the first day of July, 2016 ; all
<br />according to the terms of a ceruain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He /she 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 sexured hereby, Nfortgagor 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 cot pohews of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due ,m the mortgaged property (all as estimated by the Mort-
<br />gagee, and of tic hick the Mortgagor is notified) less all Burns already paid therefor divided by
<br />the number of months to e.-lapse before w- month prior to the date when such ground tents,
<br />premiums, taxes :aril assessrncnts ,c ill berome deiinquent, such sums to be field by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special assessments.
<br />(b) The aggregate or t I w a;rtounts payabdc ptirsrrant to suhparagrai)h (a) arid those payable on the
<br />note srcured her,bc, shall be• paid in a singie paynu•nt each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(1) q`otmd r"n ", t %cse s, arse „n:ent_ , tire- aril other hazard insurance premiums;
<br />(II) !liter,. - ^t e rr tic ne,,te vriure ri h,:r,JiN : and
<br />(ttr) .unortnation ,-f the pnnipad �,f Baud note.
<br />Any cdeficirvicy ;ti ainomo ,�f ai;% ::urh nwrrthly payment shall, unless made good
<br />by the Uen lgap(r d,i iw i,, tho du,� dot, ut th,� n,rxt such payrne•ot, constitute an event .of default
<br />under this nwrtgage. At "ptdnn. ]long ;igen - will pay a `gate charge” not exceed-
<br />ing four per cenhlm ( V, ) Qf and, ;r ,tail meat ,.vhen paid more than fifteen (15) days after the
<br />due date nerro to covey the t�xh a ,- speii,e ue%olced in handli fig deliwiuent payments, but such
<br />"late chat gi•" shall nut lxv pa; able out of th, nruo•eds of any salt, made to satisfy the indebted-
<br />nesssecurc ,:dh.te-by,unlcss such pre . cecds re . tiicicnttodischargeth centireindebtednessand
<br />all proper costs and expenses secured tht -ohr
<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, as trustee,
<br />shall be refunded to Mortgagor. If, however, such monthly payments ;hall not be sufficient to pay- such
<br />items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgage•, as
<br />trustee, any amount necessary to make up the deficiency within thirty (30) days after v;ritten 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 xith 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 W 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 trustee, shall apply, at the
<br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br />amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />interest accrued ani unpaid and the balance to the principal then remaining unpaid on said note.
<br />4. The lien of this instrument shall remain in full force and effect during at pest ponement or exten-
<br />sion of the time of payment oil' tdie indebtedness or anv hart thereof secured herebv.
<br />5. He /she will pay all ground rents, taxes. aese).sments, water raWs, and other governmental or
<br />municipal charge -3, fines, or impositions, levied upon said premises and that hershe will pay all taxes levied
<br />upon this mortgage, err the debt s.rured thereby. t.igether with any other taxes or assessments which tnav
<br />be levied under the laws of Sr.brasku agixinst th,.- MortgaKac, or the lekai holder of .aid principal note. on
<br />m,,count of this indebtedness, except when payment for all such items hws theretofore N-i,n ttimic undi�t :ii)
<br />of paragraph 2 herec>l', and he ;&he with promptly deliver the r >fficial rr,v•ipts therefor to ill., yl,,it{jageo In
<br />-fault thereof thereof tho %lortgkwee niYy pay tire, same.
<br />
|