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.86- 105424
<br />To HAVE AND To BOLD 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 hercinotherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful 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 />PRoviDED ALWAYS, and these presents are executed and delivered upor 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 Nine and one half per centum (9.50`0 per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable it the office of SUPERIOR MORTGAGE, INC.
<br />in GRAND ISLAND, 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 Four Hundred Ninety-Six and 10 /100ths
<br />Dollar ($ 496.10 ), conrrnencirrg on the h; st day ^f November , 1986 , 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 he due and payable on the first day of October, 2016 ; 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 herembefore 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 wiil 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 t o t he ground rents, if any, next duo, 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 dhi,, on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of to It ich the Mortgagor is Hot I fi!) 11-55 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 vc ill hccunh• delinquent, such sums to be held by Mortgagee
<br />in trust to pay saiet ground rents, pnnuunis, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant ter suhParagraph (a) and those payable on the
<br />note secured her•ebY, shall be pail in a single pay ment. each month, to be applied to the follow-
<br />ing items in the orde r stated:
<br />(1) ground rents. taxi•.". asses,ntertts, fire and ,thor hazard insurance premiums;
<br />111) interost,nr the notesccured : and
<br />(Ili) amortization of tilt, principal of said note.
<br />Any deficiency in the ani,,unt 4 :tny �ttrh aggregate monthly payment shall, unless made good
<br />by the M,wtgagor prior to tile, .hul •tat.. of tit,, next such payment, constitute an event of default
<br />under this mortgage. At Mortgage «•'s opt ion, Mortgagor will pay a "late charge" not exceed-
<br />ing four lwr centum t I'. ) of and mstalinwnt. x% lien paid more than fifteen (15) days after the
<br />due date there,-( to coyer the extra in�okcd rn handling delinquent payments, but such
<br />"latt- chars:•" shall not he pa ahle aft of the proceeds of any sale made to satisfy the indebted-
<br />ness secured h, reln•, unless aue), pr..e,...ds are sufficient. to discharge the entire indebtedness and
<br />all proper costs :un1 eypense'; secul*"d theroby.
<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 mane 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, how ever, such monthly payments shall not he 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 t+ithin thirty (30) daysafter 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 %kith the provisions of the note secured
<br />hereby, full payment of the entire indebteAness repr,•sentcd ther,•by. 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 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 Mortgagee, :is 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 fence and , Ifert ,luring an} postponement or exten-
<br />Llion of the time of payment of the Inds- bwkit,ess „r any hart there, >t secured hor'cb}
<br />5. Ile /she will pay all growrd rents, taxes, rt_ssessmenus, wat+ r rates, acid other governmental or
<br />municipal charges, finer, or lit) post ttons. lewd upon Said prerntses :end that he she will pay till taxes ievred
<br />upon this mortgage. or the debt secured the re hq, together with .tn. rher ta> . or ,usrssmot,G Khre•h may
<br />be levied under the laws of Nehretska swam -t th, +lorti;ut -c. ,r ih,• Iega; holder of swd principal note, on
<br />tucount of this tndchtrYJnctis, exc-epl w)leo t,ti% :no:tt f"r.t:i u, it it, tit, hat,, theretofore heen House under (a1
<br />of paragraph 2 hereof, and he ,bc will pn,nrlttly d, -lo vi the offhcutl m +, I,t,, therrfnr t„ the M.,rtgakoe lit
<br />default there „f the M,,rtgagee n:ay pay t.hc iano
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