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86- 105252
<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee. that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whoinsoever. 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 />PRovIDED 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 Ni e and one h.11 f per centum (qq 501`) per annum on the unpaid tolance until paid_
<br />The said prineipaPand interest shthe payable at the office of andrstoandRraociay'o�sof Lincoln
<br />in Lincoln, 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 installments of �j91 dred Sixty Three and
<br />�'
<br />Dollars ($ 26� 67h ), commencing on the first day of November , 985 , and continuing on
<br />the first day. of eac month thereafter until said note is fully paid. except that, if not sooner paid, the final
<br />payment of principal and interest shall he due and payable on the first day- of October 200' : alI
<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 will pay- the indebtedness. as hereinbefore provided. Privilege is reserved to prepay at env
<br />time, witnuui p r ^r fee, he 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
<br />the date received. Partial prepayment. other than on an installment due date, need not be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, .?le 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 due on the mortgaged property (ail as estimated by the Mort-
<br />gagee. and of which the Mortgagor is n,- tifieci) 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 .vill become delinquent. such sums to be held by Mortgagee
<br />in trust to pay- said ground rents. prem=iums, taxes and special assessments.
<br />(h) The aggregat(f the amounts payable pursuant to subparagraph (a) and those payable on the
<br />note secur ,i 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, assessments, fire and other hazard insurance premiums;
<br />(11) interest on the note secured hereby: and
<br />(Iii) amortization of the principal of said note.
<br />Any deficiency in the amount of any wch aggregate monthly payment shall, unless made good
<br />by the Mortgagor prier to the due date ,,f the next such payment. constitute ar. event of default
<br />under this mortgage. .mot Mortgagees option. _Mortgagor will pay a "tare charge" not exceed-
<br />ing four per centum (-1' ) of any m.stallnient when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra rxpcnse involved in handling delinquent payments, but such
<br />"late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured thereby.
<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 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 Mortgagor 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 accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby, 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 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 />4. The lien of this instrument shall remain in full force and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br />5. He will pay all ground rents, taxes, assessments, water rates, and other govertlmeotsilot 6unici-
<br />pal chart es, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this
<br />mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied
<br />under the laws of Nebraska against the M Drtgagee, or the legal holder of said principal note, on account of
<br />this indebtedness, except when payment for all such items has theretofore been made under (a) of para-
<br />graph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgagee. In default
<br />thereof the Mortgagee may pay the saint.
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