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<br />To HAVE AND T4-i iloiji he same taato the \l. rtA ogee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has gonti right to sell and convey said premises;
<br />that they are free from encumbrance. cxceptas rocitcd; that the Mortgagor will warrant
<br />and defend the same against the laa "Id c larms of all persons n honisocve r. 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 />PRovIDF.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 Dreier, the aforesaid principal sum with interest from date
<br />at the rate of Nine and one half per centuna (9.50 `' ) her annum on the unpaid 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 lilac e as the holder of the note may designate in
<br />writing delivered or mailed to the 3lorligagor. in rnonthfy in: ttdfineirts of Five Hundred Fifty-Nine and 28 /100ths
<br />Dollars ($ 559.28 ), commencing on the. first day of September , 1986 , and continuing on
<br />the first day of each month thereafter until said note is full} paid, except that, if not sooner paid, the final
<br />Payment of principal and interest ,,hail he due and payable car the first day of August, 2006 ; 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. 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 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 neat due on the mortgaged property (all as estimated by the 1Mort-
<br />gagee, and of v. hi(h the Mortgagor is not.ifie,f) less all stuns already paid therefor divided by
<br />the number of months tit 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 rents, premiums, taxes and special assessments.
<br />(b) The aggregate of ate wuvul ;'_a pavablo pursuant to subparagraph (a) and those payable on the
<br />note recur "d heri,A) Shalt be paid in ;t single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(I) 9yound rents, taxis, as c•ssmcnts, fire and other hazard insurance premiums;
<br />(11) intcre >t -on the no[c sccttrrci horcb,c ;and
<br />(111) amortization, of the principal of said mote.
<br />Any deficic•ncr in the ;tniwt nt <if, any such aggregate monthly payment shall, unless made good
<br />by the Uortgag<,r prior to the, due ci;ete' of the uext such payment., constitute an event of default
<br />under ti�i., mortgage. At Jortgagee's option. Um tgagor will pay a "late charge" not exceed-
<br />ng four ti.r ce•n!. +:m (f ) oC any installment i� hen paid more than fifteen (15) days after the
<br />due !hate 1iwrr-,I'to cover the cxtra invoked in handlingdelinquent payments, but such
<br />"late charge" .;halt not bo payablo scut .,f the prna;.,ds of any sale made to satisfy the indebted -
<br />ness sc cured tic rc lr:, jcnlcss ,uch pn:c,ds an. sufficient to discharge the entire indebtedness and
<br />all propc-r• i,,sts and c'xper,ses secured thc'rob�'.
<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 Mortgagi_,v, 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, hottever, 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 Alort.gagee., 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 1llortgagee, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby, the Nortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, credit to the account of the lortgagor any credit balance
<br />accumulated under the provisions of (cr) 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 onered hereby, or if the
<br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shAl apply, at the
<br />time of the commencement if such proceedings, or at the time the property is otherwise acquired, the
<br />amount then remaining to credit the bortgagor under (a) of paragraph 2 preceding, :mss a credit on the
<br />interest accrued and unpaid and the balanvi. to the principal then remaining unpaid un said note.
<br />LI. The li i n sti ti I r i tin in full Inrco I t fur il,g ar ? p +,n.,went or exten-
<br />sion tsm.� .,t I al; nt,!!t , 1� .r t, l.t ,in S, 10 :it)\* hart th i cnf s._vn, d lr. r. h.
<br />b He he
<br />wtil pay all uund nt. laves, ass ,,.mints, w,tte r rttc., ,_I ,ter rovcmmenual or
<br />munutpet _harkJ's, h ws, , . i.., ;)l All ! ,r.�.:ev!er,l Lill)- Ill .;aid hremisec aria i .,'la; to ,he is 111 art} ;all laves IovIod
<br />:pvn i.hi_ nirrtg,ey .. drh! _ umcl Iii. r..iv, I,igetha•r "I 'J, tt,. r' ;i, ;! a"SSnn,nt, %,hI,- h in a}
<br />h, '0 r tJcylc a, gal !;l. r _., ,i .c,, ti,um(e-. ni
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