|
86-0' 104047
<br />To HAVE AND To 1lom) the same unto -..he Mortgagee, as herein pr01, idcd. Mortgagor represents to,
<br />and covenant.% with, the :Mortgagee, that the Mortgagor has good right to soli and convey said premises;
<br />that they are free from encumbrance, except as hereinather + ise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of aii persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in lasv or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above - described premises.
<br />PROv1DF.D 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 centum ( 9.501 ;) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Superior Mortgage, Inc.
<br />in Grand Island, Nebraska , or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the : Mortgagor, in monthly ir,stalhr!erits of Three Hundred Sixty -One and 571100ths
<br />Dollars ($ 361.57 ). Commencing on the first day of September , 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 and payable on the tirst day of August, 2016 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor farther 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 ses ured hereby, Mortgagor- wiil 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 anti assessments next due on the mortgaged property (all as estimated by the Mort-
<br />gagee, anti of v: hick the Mortgagor is notified) lass all Burns already paid therefor divided by
<br />the number of months to elapse before one month prior to the !late when such ground rents,
<br />premiums. taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pa} said ground rents, preminins, taxes and special assessments.
<br />(b) The aggregate of th•, amounts payable pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall be pairs in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(I) ground rants, taxes, assossnrents, fire and other hazard insurance premiums;
<br />111) urterest on the note secured hoe -by ; and
<br />([[I) anrortizatiotr of the principal of said note.
<br />Any deficiency in the amount of anv such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to tho duo ,late of the next such payment, constitute an event of default
<br />under this mortgage. At AIortg:rgec•'s uptfor„ Alnrtgagor will pay a "late charge" not exceed-
<br />ing four per contum ( 1'"; ) of anv instrali mint cc hen paid more than fifteen (15) days after the
<br />due date thereof to cover tilt- extra expense involved in handlingdelinquent payments, butsuch
<br />"late charge" shall not be p.ryahlk� out of the lirf,c tiAs of any sale made to satisfy the indebted-
<br />ness secured hvr,•hy, unless such 01 tiii�_•nt to discharge the entire indebtedness and
<br />all proper costs and expenses sccur- 6 ':h,v"'h*,.
<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 tlurtgagix, as trust,,e, for ground rents, taxes and
<br />assessments or insurance premiums, as the case may )x-, such excess shall be credited by the Mortgagee
<br />on subsequent payments to he made by the N10:•tgagnr fur such itorns or, it Mortgagee's option, as trustee,
<br />shall be refunded to Ndortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br />items when the same shall become due and payable, then the Jortgagor shall pay- to the Mortgagee, as
<br />trustee, any artiount necessary to makt� up the deficiency within thirty (30) days after written notice from
<br />the Mortgagee stating file amount of the deficiency, ',which notice may be given by !nail. If at any time
<br />the Mortgagor shall tender to the Mortgagee, in n.ccoroancc %%ith the provisions of the note secured
<br />hereby, full payment of the entire indebtedness th "r .,by, the Aortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, credit to the account of the Aortgagor any credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. If Ihere shall be a default under any
<br />of the provisions of this mortgage resulting in a public sal., of tau, premises coverts hereby, or if the
<br />Mortgagee acquires the property otherwise after default, file 11ortgaw-,o. ac; trust,4�, shall apply, at the
<br />time of the commencement of such proceodings, or :it the time the 1woporty is otherwise acquired, the
<br />amount then remaining to credit the Mortgagor wider (,r) of paragraph 2 preceding, as a credit on the
<br />interest accrued and unpaid and the balrulce to the Orincrpal then remaining unpaid on said note.
<br />L The lion of th �t v;!. dl ITI ' ii'! t, ; c tot Jul iry it,; pf porl"Inent or exton-
<br />�iun rf the trine ul . ,n m, it! h" .n.l, i,tr It �o r , r,.0 t ' II i soon, I h! r r be
<br />11e;shr
<br />will pay- :tl! !,;found rent,,, tx.x .,,c. s f,ssirwnis, watcr rstes, furl ,,thor i±ov.,rntnerrtal <,r
<br />wlnji rl,ai chaff;..', rinw , {, <as:l, -ru, cvwd upnn said pr,•nr.ses and tba; hf ' hr will ,spy all taxes Iowrtd
<br />uport this mortk.ai;4�, the d hl a ..,.. , th , , . -JI, ts•._h , t
<br />a +�t „the^ •sk r .i- sr;vn s which ;pat'
<br />10, ?t•vv"d t, ndr'r tF,. ,s•,c.. 'L *ray, i h: a.., - '�i+. . .. <, r. i.7 e .a nr, :t,,u a.
<br />��, Los. �?'� .� ,:1�.. ,1• r ,o t.,. .. it f.,• nI! _� h ,. !; . ,t, , , ...� urr- ., �ii, -r ,i;
<br />r fr.,t;T':'•t ,a .. 'l ._..�i re: .. , . i ,. 1• .. � ... . ..i ,r;a' in
<br />
|