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<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein - ,„vided. 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 Twelve and one half per centum (12 , §o) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Su erior Mortgage Inc .
<br />in Grand Island i�%
<br />writing delivered or mailed to the ;LTol tgagor, at
<br />mon�thlyi nstallmPnt�s of holder Fvee Hundred One and 61 /1
<br />Dollars ($ 501.61 ) , commencing on the first day of June 61 / 1 OOt hs
<br />the first day of each month thereafter until said note is full 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 May, 2015
<br />according to the terms of a certain, promissory note of even (late 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 />tune, without premium or fee, the entire indebtedness or an amount
<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 trust.# -e, (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 oil the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sums already par
<br />t
<br />d there
<br />he number of months to elapse before one month prior to the date when such for divided by ground rents,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgage
<br />in trust to pay said ground Tents, premiums, taxes and special assessments.
<br />(b) The aggregate of the amou ►its 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 />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(II) interest on the note secured hereby; and
<br />(III) amortization of the principal of said note.
<br />Any deficiency in the amount of any suc}l aggregate month)
<br />by the Mortgagor prior to the due date of the next such payment, onstitutelan event made
<br />f default
<br />under this mortgage. At 1VOrtgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum 0 ) of any install tneut when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br />"late charge" shall not be payable out of the proceeds of any salt, 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 secure(] 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 />1 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 Mort
<br />trustee, any amount necessary to make up the deficiency within thirty gagor shall pay to the Mortgagee, as
<br />the Mortgagee stating the amount of the deficiency, which notice may days after written notice from
<br />the Mortgagor shall tender to the Mort Y given by mail. If at any time
<br />hereby, full Mortgagee, in accordance with the provisions of the note secured
<br />Payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />in computing the amount of Stich 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 gale of the premises covered hereby, or if the
<br />Mortgagee acquires the property otherwise after default, the Mortgagee, a trustee, shall apply, at the
<br />time of the commencement of such proceedings, or at the time
<br />nt then remainin to crs1 the property is otherwise acquired, the
<br />e dit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />interest accrued and unpaid and the balance to the principal than remaining unpaid on said note.
<br />4. The lien of this instrument shall remain in full force and efrect during any ppostilone►llent or exten-
<br />t lion of the time of payment or the indebtedness or scaly nart thereof secured hereby.
<br />5. He /see will pay all ground rents, takes
<br />municipal charges, fines, or impositiorls, levied upon d premises aa►tci tirat�he/she will lay oaltrtaxesll {vital
<br />sperm �1i� mortgage, or the debt, secured thereby, together with any other taxes or assesalllents wh1t'11 inlay
<br />be levied under the laws of Nebraska against the Mortgagee, or the legal holder of said principal rmt,,-, curl
<br />count of this indebtedness, except whtm11 payment for all such items has theretofore beet, rntltle antler (t71 �
<br />of paragraph 2 hereof, mid he /she will promptly deliver the official receipts therefor to tilt, !19ortgagoe. itr
<br />default thereof the Mortgagee may I)ay the wune.
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