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8S= 002002
<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 law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above- described premises.
<br />wit: PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of TweIve per centum ( 12%) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of The _
<br />in Grand Is land, Nebraska , or at such other place as the holldder�of t Building and n�iaticn
<br />writing delivered or mailed to the Mortgagor, in monthly installments of TWC) Hundred Eighty Six and 99/100
<br />Dollars ($ 286.99 ), commencing on the first day of
<br />the first day of each month thereafter until said note is full May ' 19 85 , and continuing on
<br />y paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall be due and payable on the first day of April, 2015
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor farther agrees:
<br />1. He /she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />hoe, 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 on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next clue 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 beyfore one month prior to t}re date when such ground premiums, taxes and assesstnent.s gill 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 amounts payable pursuant to subparagraph (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 />(t) ground rents, taxes, i#SSe;SSnlents, fire and other hazard insurance premiums;
<br />(!I) interest on tfie note secured hereby; and
<br />(tlr) amortization of the principal of said note.
<br />Any deficiency in the amount of ally such aggregate monthly
<br />by the `lortgagur prior to t}te clue date of the next such payment,� constitute lan event of de good
<br />under this mortgage. At Ml ortgage,_'s option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum (4,;,. ) of any install ment when paid more than fifteen (15) days after the
<br />due date thercq,ef to cover the extra expense involved in handling delinquent payments, but such
<br />"late charge" shall not be payable out of the prOeeeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless. uch l�ruce >eds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses sMur•ed 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 />WWI 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
<br />trustee, any amount necessary to make up the deficiency within thirty (30) shall
<br />ays afterr d%,ritt n noiiice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be a
<br />the Mortgagor shall lender to the Mort Y given by mail. If at any time
<br />hereby, full payment of the entire indebtedness represented accordance
<br />,the Mortgagee, ins the note se�shall,
<br />' as trustee, shall,
<br />in cOnputing 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 otherw i e after default, they -NfOrtgagee, a,% trustee, shall apply, at. the
<br />time of the corn. ncerm� ,-nt 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 they principal then remaining unpaid on said note.
<br />4. The lien of this instrument slpall re•rnain in full force and effe t during any P)MIlonellient or exten-
<br />$ion of the time of payment of th,� ineleybtc�dncrsa or any Hart thereof° sc>cured hereby.
<br />5. "of/she will pay all ground rents, taxes, ,
<br />rnundcl charges, menu, water rates, and other governmental or
<br />lam, fin .err unpc6itiorts, levied upon itaid premises and that hey /she will pay kill taxes levied
<br />upon this rn , or the debt sew.°urrd thereby, together with any other taxes ear iLs,,4e4 nerateo whie�h nee,. i
<br />to k `ed a laws of Nebr ka
<br />nst the' Merrtg eye *, e,r they legal holder cof said prmcipal note, un
<br />c nt of this utdet� rc f'$f j�p]t when payment fc,r all such items Jinx the =retc core twen pea de under ter i
<br />Of PAtUrnih 2 hereof, arorl he,the will promptly deliver the official r
<br />fleC ult a of the 4Wrl , may pay they a re. � the'reyfur tea tiae� �li,rtg�ge�e tta
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