|
I
<br />85_. 00350
<br />To HAVE AND To Hotn 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 canoe said
<br />that y are free from encumbrance, except as hereinotheruIse recited; that the Mortgagor Premises
<br />aract defend the against the law ful c w's of all rtgagor w ill warrant
<br />M right$ oaf , all marital Persons whomsoever_ Mortgagor hereby reiingaaishes
<br />the rights, either in law or in equity, and all other contingent interests of
<br />in and #�, the above-described -
<br />ALwAYS, and these is are ex& -uted and delivered upon Pcira the following eonditiona, to
<br />agrees to pay to the Mortgagee, or order, the aforesaid principal sum wi ith interest from date
<br />at the rate of Eleven and one l be f payable a at thn t 11- T'' 0 Per anmun on the unpaid balance until paid.
<br />�e said principal and interest shall be Payable at the office 0f Superior Mortgage,
<br />m Grand Island , or at such other glace as the holder enote may designate
<br />writing delivered or mailed to the Mortgagor, in monthly installment.,, of Five Hundred Fiy grate in
<br />Dollars (L 556. D5 ), commencing an the first flay of September f*Y Six arsdDS i 1 D Dt
<br />the first day of each month thereafter until said note is full aid, e • 19 85 , and continuing on
<br />Payment of principal and interest shall be due and n P first day that, if not sooner paid, the final
<br />according to the terms of a certain Promissory note of even date h erewiith executedgb the saga Mo all
<br />The Mortgagor further agrees: rtgagor.
<br />I. lie /she will pay the indebtedness, as hereiribefore provided.
<br />time, without Premiuni or fee, the entire indebtedness or an thereof reserved to prepay at any
<br />t, or one hundred dollars ( ;10.04 , y Part thereof nut lei than the amount of one
<br />whichever is less.
<br />date . Partial Prepayment, other 'ban on as ' Prepayment date, a full t shall
<br />be credited credited an the
<br />mat following instillment due date or installment due date, need not be credited until, the
<br />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 _ stated) on the first day of each month until said Hate is fully
<br />(a) A sum equal to the gl•ound 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 on the mortgaged property (ail as estimated by the Mort-
<br />gagee, and of u -hicl: 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 become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rerts, premiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those on th
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the foil wp
<br />ing items in the order stated
<br />(i) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(il) interest on the note secured hereby; and
<br />(iu) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly Payment shall, unlade made good
<br />by the this moo or prior to the due date of the next such Payment, constitute an event of default
<br />under th is moi2gage. At Mortgagee's option. Mortgagor will pay a •:late
<br />ing four per centum 19'';) of any install inert when Paid more than fi chm$e., not exceed_
<br />due date thereof to cover the extra expense involved in handlingdelin afeen (15) days ter the
<br />late charge„ shall not be payable out of the proceeds of any sale made to satisfy- the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses cured thereby.
<br />S. if the txatal of the payments made by the Mo
<br />t of Payments act rtgagg under (a) of 2 preceding shalt
<br />eaeaed the sally made by the Mortgagee, as trustee, for ground rents, taxes insurance Pr um , as the case may be, such excess Shall be credited by 1� Mortgagee
<br />and
<br />shall be rat Payments M by the Mortgagor for such items or, at Mortgagee'$ option, as trustee,
<br />itemmaa Mortgagor. If, however, such rumthly ,payments shall not be sufficient to Pay such same shall] bewme due and Payable, then the Mortgagor shall
<br />y to make up the deficiency within thi Pay to the Mortgagee, as
<br />the want of the deficiency, (39) days after written notice from
<br />the Nertfl4w BW tender 1Ra file Mortgagee, may' whxh notice may be given by mail. if at any time
<br />in awordance with the Provisions of the note secured
<br />of the entire indebtedness represented
<br />m the t of such i thereby, the mortgagee as , shall,
<br />ADCUMVISW
<br />� credit to fl`ae account of the Id any credit balance
<br />of fine &s of (a) of 2 . If there shall be a default under any
<br />of this in a public sale of the
<br />tie ise after default, the Mortgagee, evered hereby, or if the
<br />tXftwOt �' or at t.� . '° trustee, shall apply, at the
<br />the (e time the is otherwise acquired, the
<br />a id and the to the pr soiling, as a credit an the
<br />4. T rermmainiug unpaid on said note.
<br />$we of the tune of c instrument remain in fuel force and effect during any
<br />1 *e t oaf the tnd . or anv i(asitxrriement or dexter-
<br />• secured here.[,y.
<br />5. HOW will pay all Vvund rents, taste,
<br />ta, water rates, and other gov eats, or
<br />t& said precrAeft and that he ishe will
<br />4e . or the i mm thereby' with any cg Pal' all taxes lead
<br />� of Ne t tby'71t taxes UT to whk-b may
<br />of it b4se holder of
<br />2 t, ex "pt t for all item has datafcue principal ote, cxi
<br />he; win promptly sftar'aal res•e gts tharefc, to ramadeunder .ta)
<br />doladt m may ps) the $ a t:,:. the "ortg ..ln
<br />0 •F
<br />
|