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<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 eights, 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 Nine and one hnlf per centum ( 9.501,0 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 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 Two Hundred Eighty-Seven and 57 /100ths
<br />Dollars ($ 287.57 ), commencing on the first day of December , 19 86 , 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 lie eitie and payable on the first day of November, 2016 ; all
<br />according to the terms of a certain promissory rote of evon 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 />tune, 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 any, next due, plus the premiums that will next become due
<br />and payable (in policies of lire an(] 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 when such ground rents,
<br />premiums, taxes and assessments will beronle delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rent.;, 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 be pail in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(1) ground rents, taxes, assi�ssnir�tits. fire and other hazard insurance premiums;
<br />(n) interest on the note secured hereby : and
<br />(11I) amortization of the principal of said note.
<br />Any deficiency in the amount of amv such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the due date of tite next such payment, constitute an event of defauit
<br />under th.s mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four jwr centum ( 1' ) of and- install mwnt when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expenee incolVed 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 hereity, unless such pr--c,ds at-(- sutcient 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 rer.ts, 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 u, the deficiency within thirty (30) (lays 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 .1ilor•tgagee, 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 k. ifect during and postponement or exten-
<br />sion of the time of payment of the indebtedness or am part thereof secured hereby.
<br />5. He /she will pay all ground rents, taxes, assessments. water rates, and other governmental or
<br />municipal charges, fines, or unpexsitions, levied upon said premises and that he/she will pay all faxes levied
<br />upon this mortgage, or the deb( secured thereby. together with any other taxes -�r aLse,sments which may
<br />be levied under the laws of Nebraska against the Mortgagee, or the !ekal holder of stud principal note, on
<br />account of this mdebta•doess, exeept when l,a} anent for ,ll such items h ;u then•n fire Iwen made under ra i
<br />of paragraph 2 hereof, and Le she will promptly dele.er the ,fficial h!.. +h ref }r to the Mortgagee in
<br />default thereof the Wtrt(vagee inaY pay the went
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