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<br />86-- 104687
<br />To HAVE AND TO Holm the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has Mood right to sell and convey said prpmiss s,
<br />that they are free from encumbrance, except as herein otherwise recited; that the Mortgagor will warrant
<br />and defend the same against the )awful claims of all persons whomsoever. 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 />i
<br />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Ten per centum ( 10 c;;) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be payable at the office of the Loan Guaranty Officer,'
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of
<br />Four Hundred Eighty -Two and '4/1,00- Dollars ($ 482,24 ),commencing oathe
<br />First day of October 1986 . and continuing on the First
<br />day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final pay_
<br />ment of principal and interest shall be due and payable on the . First day of September
<br />3016 ' all according to the terms of a certain promissory note of even date herewith executed by the.
<br />said Mortgagor.
<br />The Mortgagor further agrees
<br />1. He will pay the indebtedness, as herembefore provided. Privilege is reserved to prepay at any
<br />T time, without premium or fee, the entire indebtedness or any part thereof not less than the - amount ofone
<br />installment, or one hundred dollar, tS100.00i. whichever is less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment, other than on an installment due date, need not be credited until
<br />the next following imst Ument due date or thirty- days after such prepayment, whichever is earlier.
<br />s. Together with, and in addition to. the monthly payments of principal and interest payable under
<br />-_ the terms of the note secured hereby. Mortgagor wilt pay to Mortgagee, as trustee holder the terms of
<br />this trust as hereinafter stated) on the installment due date 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 polities 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) less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date whop such ground rents,
<br />premiums, taxes and assessments will become delinquent, such scams to be held lr;° Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant tf) sW�paragraph (a) and those payable on the
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(1) ground rents, taxes, assessrents, fire and other hazard insurance premiums;
<br />(u) interest on the note secured hereby, and
<br />tat) amortization of the principal of said note_
<br />Arty deficiency in the amount of any such aggregate monthly- payment shall, unless made gtxxi
<br />by the Mortgagor prior to the due date of the next such payment, constitute an event of default
<br />under thismortgage. At Mortgagee's option. Mortgagor -A- ill pay a" late charge., not exceed-
<br />` ing four per centum t>tsr of any installment when ) paid more than fiftk,rtn t it) days after the
<br />due date thereof to cover the extra expense involved in handling delinquernt payments„ taut such
<br />"late chargt- shall not tv payable out of the procie*&4 of at.-), sale, made to satisfy the indebtei-
<br />k news secured hereby, unless.such proceeds are, sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured hereby.
<br />3. It the. Tom; of the paymeom made by nhe Mortgagor under (a) of Paragraph 2 preceding Shall
<br />exceed the arrrouni of payments actually made tl" the, Mortgagee as trnslrr for ground rents, taxtts and
<br />assessments or insurance ptemiums, as the case may be, sue'h excess shall be creditedby the Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mottgagee's option. shall he
<br />refunded to Mortgagot_ If, however, such monthly payments wail not be sufficient to pay such items
<br />when the same shall become elite and payable, then the Mortgagor shall pay to the Mortgagee as trustee
<br />any amount nrt t -%sary it, make up the deficiency within thirty 130) nays after written notr,,e rreynt t?tt,
<br />%cfagagov atatrng, the arrvionf of tl,e• defirle"wy, which notice may ire given my mutl tl at ,in* tittle ilia•
<br />Mcrfifattof shall 1�, the Mortg yjgvll, to uciordanco with the pro� ,o os of the n etc• herrb .
<br />frill pay' €rut "y th- r-o-io repre *tsr -rated thereby, the Moflgegec• r',s tmsity -e qmW, rn e iimputiag,
<br />thtrtletumff of -_U` h ;r4dc`bts °rlr:P w.,, r "Itt A[ tfar ae, ount fit the moltRaysat ant ere dl, t:r 4, -etti 0 Ir s- >,,,<[�x•at
<br />undef the pr! =atrlsrn r,f ±:er : =t loieteey,raPI; l tletf ... I If the „r,, ,J)'01 to, aO&M ;rna— _j -y
<br />+ot *ha, mottv,,w rr -Berl ±ter ;+ err ,e too ;,tor •a1v t't fhe, ttf., au,r° 1 ,y10A ,.t..trtty -! A th, yof.4:041.
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