|
W-'1 106133
<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 whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in lacy or in equity, and all other contingent interests of
<br />;
<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 Nine per centum ( 9.001,') per annum on the unpaid balance until paid.
<br />The said principal and interest shall he payable at the office of SUPERIOR MORTGAGE, INC.
<br />in GRAM ISLAND, NEBRASKA or at such other place as the holder of the note may designate in
<br />82 /100ths
<br />writing delivered or mailed to the Mortgagor, in monthly installments of Three Hundred Fifty and
<br />Dollars ($ 350.82 ), commencing on the first day of December 1986 , and continuing on
<br />the first clay 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 November, 2016 all
<br />according to the terms of a certain pronlissory ante of even date herewith 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 auy, next due, plus the premiums that will next become due
<br />and payable on policies of fire and ether hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next dae on the mortgaged property (all as estimated by the Mort-
<br />gagee-an, I of .t It ich the Mortgagor is notified) li,s ail sums already paid therefor divided by
<br />the number of months to elapse before orie month prior to the date when such ground rents,
<br />\
<br />premiums, taxes and assessment.; \t ill become 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 anwunts payable• pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall be paid m it single payment each month, to be applied to the follow-
<br />ing items in the order stated :
<br />(t) ground rents, taxes, assesrtlents, lire anei other hazard insurance premiums;
<br />e
<br />(11) intereston the note secured hereby ; and
<br />(111) amortization of the principal of said note.
<br />Any deficiency ;n the amntnit of :tt,\ sue it aggregate monthly payment shall, unless made good'
<br />by the Jortgagor prior to the due dat'• of the next °ueh payment, constitute an event of default
<br />under this mortgage. At Mortgagee's ,pti• n, Mortgagor will pay a "late charge" not exceed -
<br />`
<br />t?:a
<br />ing four per centum ( -t`':) of all % install merit when paid more than fifteen (15) days after the
<br />due date thereof to cover th,• extra cxjwnse imvdved in hartdltngdelinquentpayments, but such
<br />"late charge" shall not be pad ai,lo e,ut of the proceeds of any sale made to satisfy the indebted-
<br />ness s,Ic•ured hereby, unlc ss such I, w, e 1_n a sut fie ient to discharge the entire indebtedness and
<br />all proper costs and expenses secured th-reby`�'
<br />3. If the total of the payments made by the Mortgagor tinder (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 (20) 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 tire principal then remaining unpaid on said note.
<br />4. The lien of this instrument shall remain in full force and effc•et during any postponement ore xten-
<br />sion of the time of payment of the indebtedness or am• nart thereof secured hereby.
<br />5. He /she will pay all ground rents, taxes, assessments, water rates, and other governmenud or
<br />r
<br />municipal charges, fines, or impositions, levied upon said premises and that he /she will pay all taxes levied
<br />upon this mortgage. or the debt secured thereby, together with any other taxes or assessments which may
<br />be levied under the laws of Nebraska against the Mortgagee, or the legal holder of said principal note, on
<br />account of this indebtedness, except when payment for all such items has theretofore been trade under to t
<br />of paragraph 2 hereof. and he;she will prompll'V delayer the official receipt, therefor t,, ncc Portgagee In
<br />default thereof the Mortgagee may pay I.he sauce.
<br />_ �t
<br />
|