|
86-104184
<br />To HAVE AND To) F]n ti the sane unto tl.e 31 + +rtgagae, a n�rrein provided. Mortgagor represents to.
<br />and covenants with, the tlortgagc�e. that the• Ml rte ag)r ha, goo +t i �t,ht tc sell and convey said premises;
<br />that they are free from encumbrance, excaant as her"inother ....fir r, cited ; boat the Nlortgagor.vill warrant
<br />and defend tine same 'against the law fit', darn o' alt pe sous whomsoa a r. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, utter ill law or in equal. , and ail other contingent interests of
<br />the Mortgagor in and to the above- dcscrihed 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 ATortg:agee, or.n +lei, thr. afore =said principal sum with interest from date
<br />at the rate of Nine and One Half per eenttini ( 9.50: ) per annum on the unpaid balance until paid.
<br />The said principal and interest shall he payable at the ofhr" , f SUPERIOR MORTGAGE, INC.
<br />in GRAND ISLAND, NE , or :it sac h otN,er place as the holder of the note may d,signate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of Two Hundred Forty —Five and
<br />95 /100thsDollars ($ 245.95 ), commencing on the first clay of September , 1986 , and continuing on
<br />the first day of each nurntli thereafter until said note i_. fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest ;hall he due and payable on the fit•st day of August, 2016 ; all
<br />according to the terms of a certain promissory note of even data h.-l-mvith 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 next dim on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less 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 heccxne 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 the amounts pa. cable pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall be paid in a single pM nivnt each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(1) ground rents, taxes, assessnionts, fire and other hazard insurance premiums;
<br />(11) ilite rest (oil tile note secu red lit, rob y ;and
<br />(111) amortization of the principal of said note.
<br />Any deficiency ill the amotuit of any such aggrelratc monthly payment shall, unless made good
<br />by the Nior•tgavor prior to the clur date of the next such payment, constitute an event of default
<br />under this mortgage. At .1Mcn•tga.L, (-'s opt inn, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum ( I' f* ) of anc install mo nt when paid more than fifteen (15) days after the
<br />due dato thereof to cover the t , xpense intolvcd in handling delinquent payments, butsuch
<br />"late charge" shall not be payable -It of the pro+ wds of any sale made to satisfy the indebted-
<br />ness secured horebv, unless such In �u � e+ls 2 rc sufhcitott to discharge the entire indebtedness and
<br />all proper costs and expanses s+cur «�I rh,.r�by.
<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 Dortgagee, 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 shall not be sufficient to pay such
<br />items when the same shall become due and payable, then the 3Mortgagor 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 aecordance With the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented therchy, 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 her,-of. if there shall be a default tinder 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 Mortgragve, as trusu-e, 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 and unpaid and the balance to the principal then remaining unpaid on said note.
<br />4. The lien of this in trunicnt shall ra na gin in full fork.t and vtlect during any postpotienrent or exten-
<br />sion of the time of payment of the indehtadnecs ur anc nau t thereof secured hcrchy.
<br />5. lie /she will pay all ground rents, taxes, assessments, water rates, and other governmental or
<br />municipal c..harges fines, or impositions, levied upon said premises and that lie 'shc will pay all taxes levied
<br />upon this mortgage. or the deb+ secured thereby, together with any other taxes or . e ssnu nts which may
<br />be levied tinder the laws of Nehr esk;i against t.}ne or the h-La al holder of said principal noty, in
<br />account of this a ;al+•htecbios . except when pati nn,•,it '',ir ,a ! ,w j, ;, n, iia: ih, rt tot+,n li- n made under tc:
<br />of paragraph 2 hl -n—f, and hersiw wail t+rc n ,,t;v d: h1 '�li is i 11"t. ,� th, 1t+,r;,b(agei•_ le+
<br />default thereof tht M' ra;,ageo niay pav Ow
<br />�i
<br />
|