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86- 104332
<br />To HAVE AND To HOLD the sa117e unto the s provided. Mortgagor represents to,
<br />and covenants with, the Mortgn- -gee, that the Mor•tg;i .r `ras k(eoe right to sell and convey said premises;
<br />that they are free from encumbrance except as n,c•itecl ; that the Mortgagor will warrant
<br />and defend the same against thca lawful claims of all persons a r onrsoevi•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•descr•ibed premises.
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />wit:
<br />Mortgagor agrees to pay to the Jturtgagee, or order, the of _ resaid principal sum with interest from date
<br />at the rate of Nine and one half per centtlm ( 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 GRAD ISLAND, NEBRASKA , or at such other pl a e_ as the holder of the note may designate in
<br />writing delivered or mailed to the Mortgagor, in monthly inst n!!ra eat.: of Five Hundred Fifty-Three and 44 /100th3
<br />Dollars ($ 553.44 ). commencing or. the first ,lay of October , 19 85 , 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 Blue and payable on the first (lay of September, 2001 ;.ill
<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 here]nbefore 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 doUars ($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 tents, 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 due on the mortgaged property (all as estimated by the Mort -
<br />gagee, and of which the :Mortgagor is notified) Icss all sums ah i,ady paid therefor divided by
<br />the number of months to elapse before one mouth 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 runts, premiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall he paid in a single payment each month, to be applied to the foilow-
<br />ing items in the order stated :
<br />(I) ground rents, taxes, assessments. fire and other hazard insurance premiums;
<br />(It) interest. on the note secured ierebv ; in(]
<br />(III) amortization of the principal of said note.
<br />Any defrcienc3, in the amount 4 :un- such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the du—late, <d' the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee':; option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum ( -V, I c)f any in�ta]] men.t •Shen paid more than fifteen (15) days after the
<br />due date thereof to cover the extras e::pe uses involved in handling delinquent payments, but such
<br />"late charge" shall not. hi- pad: abi,. out of th,• proceeds of any sale made to satisfy the indebted-
<br />ness sectu•ed hcrehy •s
<br />, uriles such 111-c- -is are suilkirnt to discharge the entire indebtedness and
<br />all proper costs and expenses secured t1wi- 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 Mortgagee, as trustee, for ground rents, taxes and
<br />assessments or insurance premiums, as the case may Ixt, 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 ,Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the eicfcicrcy 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 accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereb3,, 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.1 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 and unpaid and the balance to the principal then remaining unpaid on said note.
<br />A. The lien of this instr umc_nt sh afl remain !n full force and ff.•ct during an p),t1lonvillent or exten-
<br />sion of the time of pa; nient of ti,o cart 1 ht to u� seen �ti hcrobr.
<br />5. He /she will pay all ground rents. taxes, assessments, water rates. and other governmental or
<br />municipal charges, fines, or impositions, levied upon said premises and that hi ;the will 1,113, ail taxes levied
<br />upon this mortgage. or the doh+ secured the r0,) , t,�e� ether with ane e,the>r ta.x -s gar which nary
<br />be levied under the laws otN -braska ag; unsi thr \i- rt.,,aier, th, ie e,ai heeiri r _f said pniii spa: not'.. on
<br />account of this !ndebli,& es; , 4 -ep! when r.. !. r u;l �o,-h !tr nl ...e. ..h ?rr" of� >r. ox <•t:.i; ule und"! rc l
<br />ut paragraph 3 h,e.f.:e•d he .h+ dl 'he Vt rtga4 in
<br />•"fain! th. r \1 r=' ;e c may pie, 'Ira - ;.enu
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